oICL Redemption

Ironclad rewards users with options tokens, or oICL.

oICL is an ERC20 option token that can be redeemed, held or traded.

1 oICL represents a 50% discount on purchasing 1 ICL.

How does a user exercise oICL?

Redeem. If a user has 100 oICL, they can pay 50 ICL worth of MODE to redeem 100 ICL. The effective profit for the user is 50 ICL of value. MODE premiums are paired with treasury ICL to deepen liquidity.

Note that APRs presented on Ironclad account for the cost of the $MODE premium.

Driving Sustainable Growth

Adopting oICL allows us to route substantial fees to ICL stakers, promoting sustainable growth. Our oToken model is rooted in the belief that value should shift from short-term farmers to those committed to the protocol's long-term success. This approach ensures that even those who farm and dump indirectly support the token and deepen liquidity.