Third Superlaunch on S1 - Ironclad

May 29th, 2024

Following another successful launch, we are thrilled to continue our schedule with yet another exciting project—Ironclad. Ironclad serves as the gateway to Mode DeFi, enhancing asset safety, enabling liquid lending markets, supporting stablecoins, and delivering value to its users.

What is Superchain?

Superchain is a network of interconnected chains on the OP Stack, sharing key features like bridging, decentralized governance, and communication layers. Superchain will merge OP Mainnet and other chains into a unified network of OP Chains, advancing scalable and decentralized computing globally. This article outlines our vision for scalability, introduces the Superchain concept, and discusses necessary adaptations to the OP Stack.

What is Mode?

Mode is an Ethereum L2 built on the OP stack. Mode is built for hyper-growth, utilizing multiple growth tactics, such as a referral program for growing the network and Sequencer Fee Sharing to reward developers building highly used applications. Mode is one of the fastest-growing L2s on Ethereum with the biggest ETH restaking ecosystem.

What is Ironclad?

Ironclad Finance is a decentralized non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion.

Features:

Lending & Borrowing: Ironclad Lending delivers a classic lend/borrow experience, featuring world-class risk management alongside the latest Mode assets.
Groundbreaking CDP: Ironclad CDP allows you to deposit collateral to mint stablecoins, taking advantage of delta-neutral farming opportunities across Mode
Instant Leverage: Ironclad enables one-click tools to manage leveraged positions, letting users loop or pair trade with ease.
Simple Staking: Ironclad users will be able to stake their Ironclad tokens to receive real yield weighted by their time in the system.

What are flash loans?

Flash loans are a feature designed for developers, due to the technical knowledge required to execute one. Flash Loans allow you to borrow any available amount of assets without putting up any collateral, as long as the liquidity is returned to the protocol within one block transaction. To do a Flash Loan, you will need to build a contract that requests a Flash Loan. The contract will then need to execute the instructed steps and pay back the loan + interest and fees all within the same transaction.

Future plans

In the coming months, Ironclad will integrate a Collateralized Debt Position (CDP) module that will allow for the minting of a stablecoin, iUSD. This integrated CDP and lending market platform will facilitate greater capital efficiency, more robust yield, and a sturdier stablecoin.

Additionally, Ironclad will deploy new interest-rate strategies which would allow users to enjoy the platform without the same level of volatility they experience on other platforms. This system utilizes a novel PID controller, which our head of DeFi wrote about here.

Finally, the ICL token will be used in single-staking to provide users with a share of protocol fees. This feature will allow ICL holders to earn passive income.

How to get whitelisted?

All users need to express interest on S1.xyz to be considered for the whitelist.

Wallets that are on Mode points leaderboard and on Ironclad Embers leaderboard are prioritized. Users can take part in different social giveaways and quests that are being hosted on S1 and Ironclad social channels including X and Discord to win whitelist spots. In addition we will be giving out lucky shot spots, even if you are not active on Ironclad or Mode, you still get a chance to participate in the sale. Do not hesitate to apply!

Whitelisting: