Real name: Danny Rand
AKA: Danny Rand-Kai. The Living Weapon.
First appearance: Marvel Premiere 15
Powers: After defeating the dragon Shou-Lao the Undying, Danny obtained "the heart of the dragon," which enabled him to focus his "chi" in various ways. He can use his chi to promote healing or to strike an energy-sparking blow (hence "Iron Fist"). Even without the Iron Fist, his training by the immortal Lei Kung makes Danny one of the most skilled martial artists in history.
History: Danny Rand was raised in K'un L'un after his parents were killed. When he was eighteen, he left the mystical city and went to seek vengeance on his father's killer. As often happens, Danny realized after a series of adventures that revenge is meaningless, and settled for taking his father's position in the Rand-Meachum corporation. He teamed up with Luke Cage, AKA Power Man, to form Heroes for Hire. Danny was presumed killed in Power Man/Iron Fist 125; as it happened, he was actually being held prisoner in K'un L'un. Freed by the combined efforts of the Daughters of the Dragon, Lei Kung and Namor, Danny returned to New York.
Current status: Danny and Luke have once again formed Heroes for Hire, although the team is considerably larger than it used to be.