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?

Ready to earn 15% yield or more with Exponential?

Invest
Information
Exploit/Hacks
None
Info
Key Metrics
  • TVL: $20.5M (Rank #174)
  • TVL Ranking by Lending: #32
  • Blockchain: Ethereum, Avalanche, Optimism, Fantom
  • Chain TVL
    • Ethereum: $20.29M
    • Avalanche: $108.61K
    • Optimism: $86.05K
    • Fantom: $29.6K
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

Ready to
earn 15%+
yield?

Invest