InfraredFinance v1.7 Summary (by @0xFent):
@InfraredFinance has posted an update blog, and here’s a summary for those who don’t like reading:
- The $iBERA auction system has been introduced, replacing the previous exchange method from $BGT to $BERA. $iBGT will be issued as rewards, which can be exchanged for $BERA through auctions (capturing more value than the previous exchange method).
- Changes to $iBERA: Previously, part of the incentives were used for purchasing $BERA and compounding $iBERA, but now if the $iBGT premium is above 1.2, the base rewards will be maintained in $iBGT.
- Dynamic fees based on the $iBGT premium - the lower the premium, the lower the fees, and the higher the premium, the higher the fees.
- Temporarily restricting $iBGT exchanges to allow the protocol to defend the $iBGT peg.
$iRED is expected to play a role in the VeraChain!
Infrared v1.7 TLDR:
@InfraredFinance just posted an update blog, here are the spark notes for Beras who can't read:
✅ $iBERA auction system, replaces $BGT to $BERA redemptions by minting $iBGT = rewards and then auctions them off for $BERA (Capturing more value than standard redemption
✅ $iBERA changes, previously a portion of incentives were used to buy $BERA and compound $iBERA, however now if $iBGT premium > 1.2, the base rewards are kept as $iBGT
✅ $iBGT dynamic fees in relation to $iBGT premium, the lower the premium, the lower the fees and vice versa
✅ Temporarily gated $iBGT redemptions, allowing the protocol to defend the peg of $iBGT
$iRED will cook on berachain!
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