Fees generated from the usage of Iron Finance products are distributed to BlueICE stakers according to their share of the BlueICE staked.
The allocated daily distribution of USDC rewards for BlueICE stakers changes every week on Friday. It is based on last week's performance (amount of accumulated fees) and may be set higher or lower comparing to current daily distribution.
"Rewards per day" is an estimate, and the actual rewards received may differ when block times are longer than normal.
1. Admin Fees
Stake BlueICE to earn admin fees from IronSwap (in USDC). The current Admin fee is 100%. This means that all fees generated from the usage of Iron Finance products are distributed to BlueICE stakers.
Example: The IronSwap trading fee is currently 0.02%. The whole fee from each IronSwap trade (100% = 0.02%) will be distributed for BlueICE stakers.
The Mint/Redeem fees of the IRON Stablecoin are currently accruing, and will go to BlueICE stakers.
Fees from IronLend are also currently accruing in the Lend Reserve, but are not yet available to be distributed.
2. Stake BlueICE to earn partner’s profit-sharing
For example, via profit-sharing from Firebird (in ICE and ETH), we will straight away burn the equivalent USD amount of ICE, and the ETH amount will be converted to USDC and distributed as profit for BlueICE stakers. Read more from FireBird’s article: https://bit.ly/3hXZqAU
3. Upcoming Iron Finance products
Usages in future products from IRON’s ecosystem will aim to deliver admin fees to BlueICE holders.
Conclusion and Additional Clarification
Investors staking ICE for a longer duration receive more BlueICE (see example in Introduction) and therefore upon staking it will be able to receive a bigger profit share. However, this doesn't affect the user's ability to retrieve ALL their staked ICE at the end of their staking period (or upon unstaking early after accepting the 30% penalty).
Example: Investor A and Investor B both decide to lock 300 ICE each
Investor A: locks his ICE for 3 years, receiving 300 BlueICE, then stakes them all to earn USDC profit
Investor B: locks his ICE for 1 year, receiving 100 BlueICE, then stakes them all to earn USDC profit
Because A is staking his BlueICE 3 times longer, he will receive 3 times the profit share as investor B, despite both locking the same amount of ICE. Finally...
After 1 year, Investor B can withdraw his 300 ICE back and the returned 100 BlueICE is burned
After 3 years, Investor A can withdraw his 300 ICE back and the returned 300 BlueICE is burned