Inspired by FRAX - the unique fractional-algorithmic stablecoin on Ethereum, using the same design, we’d like to introduce IRON, the first partial-collateralized stablecoin on Binance Smart Chain.
Iron protocol will have 2 tokens: IRON and STEEL.
STEEL - Iron Share - is the algorithmic token which accrues seigniorage revenue and excess collateral value.
IRON is a stablecoin pegged to $1, partially backed by collateral like BUSD, USDT and partially backed algorithmically by STEEL. The ratio of collateralized and algorithmic, so called Collateral Ratio (CR), depends on the market pricing of IRON.
The ratio of collateralized and algorithmic assets will depend on the market price of IRON.
