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Iron Bank
Lending
Iron Bank is a decentralized money market for permissionless lending and borrowing.
Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
What is Iron Bank?
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Information
Exploit/Hacks
None
Documentation
Auditors
Audits
Mixbytes
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FAQ on experienced auditors
Info
Website
Token: IB
Tags: Lending
Key Metrics
TVL: $18.5M (Rank #178)
TVL Ranking by Lending: #33
Blockchain: Ethereum, Avalanche, Optimism, Fantom
Chain TVL
Ethereum: $18.25M
Avalanche: $103.67K
Optimism: $86.05K
Fantom: $26.67K
Risk Assessment
Watch Out
Protocol Code Quality
Code reviewed by at least one experienced auditor;
Mixbytes
audited in September 2022
Anonymous team reduces transparency
No documented protocol hacks since launch
Protocol Maturity
Core protocol launched in 2021; maturity over one year minimizes technical risk as smart contracts are well battle-tested
Top 5% by total value locked reduces risk
Multisig wallet controls protocol upgrades
Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
Timelock is at least 48hrs, which provides users with sufficient time to exit if any malicious upgrades are approved
Several critical governance issues documented
Low voting power concentration reduces risk
Protocol Design
No death spiral concerns
Robust controls to mitigate oracle price manipulation
Cross-collateral markets are exposed to systemic risks as each asset creates incremental risks for the platform as a whole
Basic controls in place to prevent risky borrowing
Basic mechanisms in place to incentivize liquidations
Basic method to accrue protocol reserves
Iron Bank is a spin-off from Yearn iEarn technology. It facilitates retail and institutional lending
Things to know about Iron Bank
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