Inverse Finance DAO newsletter!
We're excited to announce that there are many new DOLA liquidity pools available, offering new yield opportunities. Check out our blog article on farming DOLA across chains to get started.
DOLA is expanding its reach to Arbitrum, Polygon, Avalanche and Inverse Finance is partnering with several protocols, including Ramses, SolidLizard, Sterling Finance, Thena, Velodrome, Solisnek, and Satin, creating liquidity and DOLA farming opportunities across blockchains.
The Community Working Group published two new animated explainer videos that provide easy-to-understand guides to how DOLA works and how to borrow in FiRM. These videos are an excellent resource for anyone looking to get started with borrowing in FiRM or DOLA yield farming.
How DOLA works:
How to borrow in FiRM:
Vote With Your Collateral In FiRM
The latest market addition to FiRM introduces gOHM as collateral https://www.inverse.finance/firm/gOHM, allowing gOHM holders to borrow DOLA while maintaining their governance voting rights on the collateral. This groundbreaking feature benefits OHM holders seeking to engage in DeFi lending without relinquishing voting rights or navigating volatile variable interest rates.
We are Hiring
CWG is organizing interviews for an additional smart contract developer for the DAO. If interested or know someone who might be, here’s the job description, note that it starts out as part-time.
Security
We're proud to report that Inverse Finance's DeFiSafety score https://twitter.com/DefiSafety/status/1631022708182925312?s=20 has increased by a staggering 58 points to 87 since the last Process Quality Review was conducted in 2021. This achievement is a testament to the hard work and dedication of the Risk Working Group, Analytics Working Group, and developers working to ensure the safety of the DAO.
For an in-depth look at our security measures, read 0xMT's recent blog post discussing FiRM's security design. The article outlines key security features, including:
No lending of collateral assets
No pooling of collateral assets
Only whitelisted contracts
Daily borrow limits
Pessimistic price oracles
Recently, Euler had a security incident exploiting the liquidation mechanism in their platform. This affected Balancer’s bb-e-USD token which was paired with nearly $900K of the DAO’s DOLA, but the Product, Risk Treasury Working Groups managed to mitigate 90% of the losses. It currently appears as if the hacker was front-run and the new holder of the stolen funds has returned a large part, nearly all of them. We are of course very happy to hear about this development and hope for a swift resolution.
https://twitter.com/x/status/1643027386802270210
Despite ongoing turmoil in tradfi, DOLA's peg remains resilient!
As always, we invite you to engage with us on our Discord and Twitter channels and to explore our documentation for more information.
Thanks for reading!
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