Iron Bank is a decentralized lending platform focused on capital efficiency allowing protocols and individuals to supply and borrow cryptocurrencies on Ethereum, Optimism, Avalanche and Fantom. It is helping build a better and safer DeFi lending ecosystem, by driving capital efficiency with trusted entities as the liquidity infrastructure and backbone for DeFi and CeFi.

Iron bank harnesses smart contract automation to offer protocol-to-protocol lending via whitelisting with undercollateralized and uncollateralized lending. Partners include Fixed Forex (Keep3r Network), Yearn Vaults (Yearn Finance), Alpha Homora (Alpha Venture DAO), Multichain, PleasrDAO, and more. While it targets protocol use, non-protocol users can also supply and borrow on the Iron Bank.

$iTokens are tokenized deposit positions for the assets you supply on Iron Bank. It acts as the key to withdraw your supplied assets. Please note that if you have transferred the iToken to another wallet, then the new wallet will have rights to the supplied position.

veIB acts as the value accrual token for Iron Bank and is a modified version of the veCRV token model with elements of Andre Cronje's ve(3,3) model for Solidly. The veIB time lock / NFT is transferable.

25% of Iron Bank protocol fees will be shared weekly with veIB holders. As with veCRV, the amount of veIB a user receives is dependent on how long the underlying IB tokens are locked, up to a maximum of 4 years. Click here for more information on veIB: https://docs.ib.xyz/v/optimism/veib/what-is-veib

Lock IB for veIB here: https://app.ib.xyz/veib

25% of Iron Bank's protocol fees will be distributed & claimable every Thursday for the fees earned in the previous week. To be eligible for a weekly emission, the user must hold veIB by Wednesday 23:59 UTC for the week prior.

Protocol fees are distributed in $iUSDC, tokenized deposit position for $USDC on Iron Bank Optimism.

Example: Lock for veIB by Apr 20 23:59pm UTC and 25% of the Iron Bank protocol fees earned between Apr 21-27 will be claimable on Apr 28 in $iUSDC.