ICL Staking
Ironclad offers users a staking module to stake their ICL to earn from protocol revenue.
Last updated
Ironclad offers users a staking module to stake their ICL to earn from protocol revenue.
Last updated
The ICL staking module is a Cod3x Relic meaning it offers time-weighted rewards to users. Users may deposit their ICL into the ICL Relic, which enables them to build up their maturity, allowing Ironclad to distribute time-weighted emissions favoring long-term stakers. Staking rewards include Lend Module fees, paid in WETH and MODE, and iUSD mint and redemption fees, paid in iUSD and oICL. It is Ironclad’s intent to distribute MODE DevDrops to ICL Relic holders to further reward long-term stakers.
Ironclad revenue comes from two primary sources:
The Ironclad lending module. A modest reserve factor on markets directs a small portion of borrow-side interest to the Ironclad treasury. A portion of this revenue will be aggregated into WETH and MODE and distributed to ICL Stake.
The Ironclad CDP. Coming soon, the Ironclad CDP will allow users to mint iUSD against premium collateral. Minting iUSD incurs a 0.5% security fee, which will be distributed to ICL Stake.
Additional sources of revenue such as MODE DevDrops, etc. will be rewarded to ICL Relic stakers. This yield may be intermittent, however accruing maturity remains extant.
The ICL Relic is programmed to record a user’s maturity and reward positions according to a multiplier. The ICL Relic rewards maturity with a linear boost over six months (plateau beyond), and up to a 1.5x multiplier.
If you still have any questions, please reach out to the Ironclad team in our official Discord.
