Governance Staking Risk
Governance Staking risks are as follow:
  • Smart contract issues with Iron Finance: While audits and bug bounties can significantly mitigate risk, there will always remain an inherent risk with all smart contracts in DeFi.
  • "Rewards per day" is an estimate, and the actual rewards received may differ when block times are longer than normal.
  • Per Omniscia's audit recommendation, the design is harsher for large deposits rather than long durations. In other words, with our current model, BlueICE stakers are strongly incentivized to lock for less than 3 years since the exit penalty is the same. After discussion with our community, we will do a governance voting proposal to make the exit fee dynamic based on how long a user has locked. Therefore, the governance voting will propose to scale the penalty with the locked duration as well. This finding is not economically critical but rather design-oriented and therefore received a "medium" risk label.
Last modified 3mo ago
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