Summary
Inverse Joins the Curve Wars
New Yearn Fed Proposal Passed
Risk Working Group Proposal Passed
Inverse hires New Developers-@YellowTail & @0xMT
GWG Budget Proposal Passed
Branding Redesign
Numbers at a glance
Opportunities to Contribute
Welcome to the Starship!
It’s been another eventful week for Invaders. On this issue of Inverse Starship, we would like to give updates on our new Revenue Transparency Page, important proposals that are live, our first Inverse Poker Tournament and more! Let us sit back, relax, and recap what has been going on in this week’s Inverse newsletter.
Inverse Joins the Curve Wars
As part of our plan to dramatically increase DOLA circulation, Inverse Finance has officially joined the Curve Wars. There are two parts of this strategy that has helped us dramatically increase the DOLA in circulation. The first one is in regard to our recent partnership with Yearn Finance and the second one is through bribes for CVX holders. Through these methods, we have dramatically increased current DOLA circulation to around $30M. For more information on how these strategies are doing, there will be up to date information from our Transparency Dashboard in the future. For a more extensive look, you can take a look at our official article here.
Yearn Fed Proposal Passes
As part of our strategy to joining the Curve Wars, our recent proposal to implement a Yearn Fed has passed! With this strategy, Inverse has implemented a DOLA Fed to a custom Yearn Vault that deploys a the DOLA into DOLA-3Pool, takes the LP tokens and deposits them into Convex. This strategy is mutually beneficial for both protocols, as it dramatically increases the DOLA in circulation and on Yearn’s side, they can receive more rewards with their veCRV. The next step in this strategy is to deploy a Convex Fed as well. In the meantime, there are incentives that are being added to our DOLA-3Pool so you can take a look at these in this article here. If you are interested in learning more about this strategy, we have an article that you can read here.
Risk Working Group Proposal Passes
As the DAO grows, so does the need for proper safety assurances. The idea of a Risk Working Group has been contemplated internally for a while, and we are excited to announce that our Risk Working Group Proposal has officially passed. The Risk Working Group will be building out Risk Governance, which includes research into how other major protocols approach safety, as well as comprehensive Risk Prevention and Mitigation Strategies. At Inverse, we are striving to keep our protocol safe from any exploits, and this is a good step in making sure of that. You can take a look at the full proposal here.
Developer Hiring Proposal-@yellowtail & @0xMT
One issue that Inverse Finance has had before is the lack of developer resources to expand upon the protocol. To fix that, we are excited to announce our two new solidity developers who have already been helping a great amount with the internal development work. With this recent expansion of developer resources, we can now look to build out features that we have been looking forward to for a quite a while, and we can make sure that there is more internal testing to help make sure that the protocol is safe from hackers. The draft proposal can be found here and is scheduled to go live soon. You can read the proposal here.
GWG Budget Proposal Passed
The GWG Budget Refresh proposal draft has recently been written up in the Governance channel recently. As the original 3 month budget for the GWG has passed, the new proposal seeks to refresh the budget with some changes as well. With the new budget, there are budget requests to hire a new marketing manager, implement a new Website redesign, and Brand Consulting and Development as well. The proposal has passed but not without contention, showing the power of on chain governance. You can read the full proposal here.
Numbers at a glance
With @naoufel’s amazing work on the data-hub, the Starship is here to show you the latest analytics on Inverse Finance.
INV:
Current price of INV $89
7 day high/low $118/$73.6
Total xINV + INV holders 1623
INV/DOLA Sushiswap liquidity ~$2,878,708 USD
Defi Pulse ranking #65 @ $17.5M TVL
You can check out what @naoufel is working on to improve the Dune dashboard as he goes — at the work-in-progress Dune dashboard here.
Brand Redesign
Inverse is going to get a fresh look. Recently, we thought that Inverse should get a fresh coat of paint with a new design. The protocol has evolved over its lifespan, and we thought that it would be best to go for a redesign that fits Inverse's branding and ethos. The first step for this will be the DOLA logo redesign, which we have been working hard to reach consensus on, as well as finding new designs for INV as well. After that, we will be focused on revamping the website with new text and a fresh new look. We will have more information on this soon so please look forward to that!
Opportunities to Contribute
Check-in with us on the Discord if you want to help out and be a part of the Inverse DAO. All help is welcome so don’t be shy!
We are always looking for extra developers to build out new functionality for the ship. So if you are a front or back-end dev and want to work with some of the best in the business, drop by the #inverse-hiring channel in the Discord.
If you know something that needs to be done, please drop by the #newsletter channel and let us know so we can pop it in the next newsletter.
Till next week Invaders!
