About PhoenixCo TomanX
A privately issued instrument tracking the toman (1 toman = 10 rials) rather than the dollar. A BEP-20 token on BNB Smart Chain, ticker IRTX. We publish its rate ourselves, and no one can mint or redeem IRTX at that rate. This page explains what it is, who sets that rate, and what can go wrong.
An administered rate has one external correction: people trading against it. The spread between the published rate and the market is what closing that gap pays, and a persistent spread is the market’s opinion of the rate, shown here so it is visible to everyone rather than only to the operator.
TomanX tracks the toman. One TomanX is intended to be worth one toman, at a rate PhoenixCo publishes. Its DOLLAR price is small and moves with the toman’s exchange rate, which is what a toman’s dollar price does. On this site it is always quoted the way the rate is spoken about locally, as TomanX per dollar, because a price with that many leading zeros invites miscounting them.
What it is not is a claim on a bank: it is not backed by rial deposits and nobody owes you anything for it.
PhoenixCo’s community largely thinks in toman. Every other asset on this site is dollar-denominated, so ordinary questions like what did I earn and what do I owe require a mental exchange-rate conversion on every glance. IRTX lets lending and saving happen in the unit people actually budget in, and it gives the ecosystem a way to express toman-denominated yield on chain.
IRTX is minted by PhoenixCo, the token’s operator. Issuance is not algorithmic and not collateralised on-chain: supply is a decision the operator makes and the chain records. The current total supply is shown above, read live from the contract, and any change to it is permanently visible on BscScan. Buying IRTX with toman directly is a separate project and is not offered here.
The rate is administered. PhoenixCo publishes the IRTX price to an oracle contract by hand, and a keeper re-confirms the current price on a schedule so it does not go stale, without changing it; no market feed, no Chainlink, no trading pair sets it. That is the single most important fact on this page: wherever this site uses an IRTX price, including valuing lending collateral and debt, the number is one the operator published.
The oracle contract is public (0xC5e2…ec92), so every published rate and its timing can be audited after the fact. What cannot be audited is the decision itself. The rate is whatever PhoenixCo says it is.
In the lending markets IRTX can be supplied and borrowed like any other asset, with one difference this site never lets out of sight: its rates are paid in IRTX, not dollars. A yield on IRTX is toman-denominated, and comparing it against a dollar yield is a category error the interface refuses to make for you.
Because supplying and borrowing IRTX against IRTX is price-neutral for the borrower on the administered rate, self-borrows are unexposed to rate administration; borrowing across it is not, and the lending interface warns exactly there.
Nothing on this page is an offer or financial advice. The on-chain facts above are read live; the intent statements are PhoenixCo’s. The lending section’s own IRTX page shows the live market state here.