Iron Finance hopes that the launch of IronLend will woo more high-value investors to its platform.
New Drive For More Institutional Investors
A new product––IronLend––is set to be launched by Iron Finance very soon. A timeline contained by Iron Finance’s disclosed that IronLend is scheduled for launch on Wednesday, August 4. IronFinance spelled out the final details in a Medium blog post on July 19.
IronSwap also enticed users with a Tweet hint on July 29 that Elon Musk and Jeff Bezos may be joining IronLend.That’s right, Amazon’s and Tesla’s billionaires––not a mere expectation Iron Finance has by any means, we must say.
“After @mcuban invested in our IRON stablecoin, and @AlamedaResearch is the largest liquidity provider in IronSwap currently, we are excited to announce that Jeff or Elon might join IronLend,” read the tweet from IronFinance.
According to the tweet, American billionaire Mark Cuban and Alameda Research––behind the FTX exchange–– are other key institutional investors of Iron Finance.
However, the platform hopes that more high-profile investors will be interested enough in the new IronLend product to invest in it. There has been no official confirmation, solely speculation of Iron Finance.
Overview Of IronLend
The new IronLend product seeks to increase the use cases of their ICE and BlueICE tokens, including lending and borrowing, and governance capabilities.
IronLend will be a marketplace for blue-chip assets. It will provide an opportunity for people to earn platform rewards when they stake, borrow, and lend crypto assets.
Participants in IronLend will make use of Iron Finance’s ICE and BLUEICE ecosystem tokens. A preview of how IronLend will function can be found here.
Iron Finance Continues Its Consolidation
Fresh from its relaunch on the Polygon network, the launch of IronLend will help consolidate Iron Finance further. Currently, a top 3 protocol on Polygon, IronFinance seeks more growth.
Supplying liquidity will also be important. But this is all coming on the heels of the wariness of the crypto community following the issues that Iron Finance had with its Titan token. Here is an article we wrote about Titan’s struggles.
Iron Finance has a high outlook for sure. But the protocol had to fight off many user comments in their Twitter replies. Following their stablecoin failure, it appears that many users still believe they were rugged.
Many users also clamored for proof of whether Bezos or Musk would participate. It could be a cheap shill, but we never know.
About Iron Finance
Iron Finance started out as the first partial-collateralized stablecoin platform on Binance Smart Chain. A critical issue with its then TITAN token saw the value of TITAN plummet to historic levels in the modern crypto era.
To fix the flaw that led to TITAN’s fall, Iron Finance recently relaunched its protocol on the Polygon network. IronLend is a new product expected to help win back investors’ confidence as Iron Finance consolidates on Polygon.
For more information about Iron Finance, take a look at the platform’s media links:
Source : bsc.news
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