Iron Finance is gearing up for its re-launch and Firebird Finance is the chosen liquidity provider.
As an important move for both DeFi protocols, the Iron Finance re-launch will involve the opening of ICE/WETH for swapping on Firebird and changes to the exchange fee distribution.
All changes are designed to benefit users of both DeFi protocols. Our aim is to increase the stability of the economic model and ensure the best experience for our users.
What is part of the re-launch?
Firebird Finance will become the main swap AMM platform for ICE liquidity providers. That means that starting July 12th, Firebird Swap will once again be able to trade the ICE/WETH pair on the Polygon side chain. That goes for the original Swap and Swap V2.
To better serve both communities, there will be some changes to the swap fees of the ICE/WETH pair.
Instead of the usual 75% of swap fees going to mHOPE holders, 35% will go to the ICE treasury, 40% to Firebird Finance, and the last 25% to the liquidity providers.
By using this fee model, Firebird Finance will actively contribute to the financial stability of the Iron Finance platform. A lot of work has gone to ensure the viability of the new model, we are confident HOPE and ICE holders will benefit from the modifications.
The wait is over!
Starting July 12th, ICE and HOPE users can once more collaborate on the Firebird Finance platform.