IRON V1 collapses during a bank run and TITAN price failure — Stablecoin Event

Identity and classification

Overview

Date, taxonomy, impact, recovery, mechanism, confidence, and evidence remain separate.

Date	2021-06-16
Public event category	Depeg and peg stress
Canonical event subtype	Depeg
Structured detail kind	Depeg
Stablecoin subjects	IRON
Organization subjects	Iron Finance
Impact	Critical
Effect on stablecoin lifecycle	Collapsed or failed
Canonical status-effect value	Collapsed
Recovery or reversal	Collapsed
Recovery date	Not yet recorded
Cause or mechanism	A bank run, reflexive TITAN selloff, and failure of the partially collateralized redemption design caused a terminal loss of the peg.
Structured detail coverage	Structured fields available below
Record confidence	High

Date: 2021-06-16
Public category: Depeg and peg stress
Canonical subtype: Depeg
Structured detail kind: Depeg
Impact: Critical
Status effect: Collapsed or failed
Recovery: Collapsed
Recovery date: Not yet recorded
Cause or mechanism: A bank run, reflexive TITAN selloff, and failure of the partially collateralized redemption design caused a terminal loss of the peg.
Record confidence: High

Affected records

Stablecoin and organization subjects remain separate record groups.

Stablecoin subject

Open the stablecoin dossier for current state, organizations, deployments, evidence, and unknowns.

Organization subject

Open the organization record for roles, relationships, events, evidence, and unknowns.

Typed record

Event-type-specific facts remain visible with explicit value states.

Structured event detail

Depeg detail — Peg reference	USD
Depeg detail — Direction	Below Peg
Depeg detail — Extreme price	Not yet recorded
Depeg detail — Maximum deviation	Not yet recorded
Depeg detail — Duration	Not yet recorded
Depeg detail — Recovery status	Collapsed
Depeg detail — Recovery date	Not yet recorded
Depeg detail — Cause summary	A bank run, reflexive TITAN selloff, and failure of the partially collateralized redemption design caused a terminal loss of the peg.
Depeg detail — Price-source records	sog_src_iron_postmortem_batch_d, sog_src_iron_fed_batch_d

Depeg detail — Peg reference: USD
Depeg detail — Direction: Below Peg
Depeg detail — Extreme price: Not yet recorded
Depeg detail — Maximum deviation: Not yet recorded
Depeg detail — Duration: Not yet recorded
Depeg detail — Recovery status: Collapsed
Depeg detail — Recovery date: Not yet recorded
Depeg detail — Cause summary: A bank run, reflexive TITAN selloff, and failure of the partially collateralized redemption design caused a terminal loss of the peg.
Depeg detail — Price-source records: sog_src_iron_postmortem_batch_d, sog_src_iron_fed_batch_d

Provenance

Source identity, publisher, publication date, reliability, archive, and relation count remain separate.

3 source identities · 3 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
Iron Finance post-mortem — 17 June 2021 Published 2021-06-17	Iron Finance	Official statement or announcement Canonical: Official Statement	Subject-controlled source	Primary source	Collapse Postmortem, Mechanism Failure, Event Date	Archive index or wildcard	High
Runs on Algorithmic Stablecoins: Evidence from Iron, Titan, and Steel Published 2022-06-02	Board of Governors of the Federal Reserve System	Research or security report Canonical: Research Report	Independent third-party source	Secondary source	Mechanism and Run Analysis, Collateral Model, Depeg Event	Archive index or wildcard	High
IRON token contract on Polygon Published Not yet recorded	PolygonScan	On-chain record or explorer Canonical: Onchain Contract	Technical primary source	Primary source	Contract Identity, Polygon Deployment	No archive recorded	High

Maintenance

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