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Ivaldi was a dwarf Isu and blacksmith from the mountains of Svartálfaheimr who lived and worked in Asgard to repay a life debt to Odin. He was mythologized in Norse legend and encountered by Eivor Varinsdottir when she relived Odin's memories before the Great Catastrophe.
In Norse mythology, Ivaldi's sons were said to be a group of dwarves that made several key pieces for the gods, including Freyr's magically unfolding ship Skíðblaðnir, Odin's magically multiplying ring Draupnir and returning spear Gungnir, and Sif's golden hair.
Ivaldi was bound to serve the Æsir. He had his own forge and kept mostly to himself. He was eventually disturbed by the Builder, who trespassed on his property. Havi approached him as he needed help containing the lost wolf Fenrir, whom he feared would kill him as foretold in Ragnarök. In return for earning either Odin's gratitude or freedom from his servitude, Ivaldi made the cord Gleipnir, which would hold Fenrir until Ragnarök began.
Behind the scenes
As Ivaldi is the only prominent Isu from Svartálfaheimr, it's unclear whether or not his shorter stature, which goes against traditional imagery of Isu towering over humans, is simply the way Eivor perceives him based on her own cultural expectations, a metaphor for the difference in Odin and Ivaldi's status, or is an example of an actual Isu with restricted growth.