# Proposal to Enable Chainlink CCIP Cross-chain Transfers of sDOLA
Forum: https://forum.inverse.finance/t/proposal-to-enable-chainlink-ccip-cross-chain-transfers-of-sdola/611
## Background
This proposal seeks to enable cross-chain functionality for sDOLA tokens using Chainlink's Cross-Chain Interoperability Protocol (CCIP). sDOLA is issued as an ERC-4626 vault token, making it both flexible and portable across different DeFi protocols and applications.
The implementation of CCIP cross-chain functionality for sDOLA represents a significant step forward in Inverse Finance's multi-chain strategy. Chainlink CCIP offers a decentralized, secure, and scalable solution for cross-chain communication and asset transfers. This integration will allow sDOLA token holders to transfer their assets seamlessly across Arbitrum, Base, Ethereum, Optimism, and other chains while maintaining exposure to the underlying yield mechanisms. By leveraging Chainlink's proven infrastructure, we can provide users with seamless access to protocol benefits across multiple networks while maintaining the security and decentralization principles core to the Inverse ecosystem.
## Motivation
The expansion of sDOLA to multiple chains through CCIP will deliver several key benefits, namely:
Enhanced liquidity by enabling seamless token transfers between Ethereum mainnet and L2s, facilitating efficient capital allocation for users and protocols.
Improved user experience by providing a unified experience for sDOLA holders regardless of their preferred chain and reduced transaction costs for those operating on L2s
Enhanced DOLA stability through fluid cross-chain arbitrage that can quickly correct price discrepancies, compared to native bridging solutions that could leave the peg vulnerable for up to 7 days during periods of imbalance.
Expanded protocol integration opportunities with L2-native protocols including DEX’s like Aerodrome, lending markets like Morpho, yield splitting protocols like Pendle, and more.
The technical infrastructure will leverage Chainlink's proven security model and decentralized oracle network, implementing a hub-and-spoke architecture with Ethereum as the primary hub while enabling automated exchange rate updates across all supported chains.
Implementation
Architecture Overview
The sDOLA cross-chain integration is built on Chainlink CCIP to provide secure and programmable transfers between Ethereum and supported L2 networks. On Ethereum, tokens are deposited into the canonical LockReleaseTokenPool, where they are locked before a corresponding amount is minted on the destination chain. When sDOLA moves back to Ethereum, the process reverses: tokens on the L2 are burned and the locked amount is released from the pool.
Exchange Rate Synchronization
Exchange rate synchronization ensures that when sDOLA moves across chains via CCIP, the token’s yield-bearing value remains consistent. The CCIP transfer includes updated exchange rate data, so receipt tokens minted on destination chains accurately reflect the same underlying value as mainnet sDOLA. This prevents drift between chains and preserves parity for users.
## Governance and Security
Governance of sDOLA’s CCIP integration is centered on the canonical sDOLA contract on Ethereum and its LockReleaseTokenPool, which locks tokens before issuing cross-chain receipts. Control of the TokenAdminRegistry is delegated to the Inverse Finance governance timelock, ensuring all configuration changes remain under DAO authority. Security is reinforced by Chainlink CCIP’s defense-in-depth architecture, where decentralized oracle networks manage execution, verification, and risk oversight to keep transfers resilient and tamper-proof.
## Technical Specifications
This specific proposal will activate deployed code across Ethereum Mainnet, Base, Optimism, Berachain and Arbitrum. The code has already been deployed, but is waiting for governance to take ownership of the govSender contract which controls L2 deployments, as well as CCIP token administration rights, token pool ownership, exchange rate updater ownership and setting the token pool for sDOLA. Once the token pool has been set for sDOLA tokens, CCIP token transfers will be enabled to Base, Arbitrum, Berachain and Optimism. L2s will be using mint/burn token pools with mainnet using a lock/release token pool.
To govern contracts on the L2s, governance proxy contracts have been deployed to each respective network, which allow L1 inverse token governance to send messages originating from governance proposals. These messages in turn govern functionality of the smart contracts under its control, similar to how token governance functions on mainnet.
### Deployed Contracts
**Ethereum:**
- governanceSender: 0x4e521Fe7A9084067096d45A312B8FEeE39D5F1f3
- tokenPool: 0x05eEe76f456C51Be0459EC1c0a78bf177B2c877C
- exchangeRateUpdater: 0xd5A3416f7863f306Ca7CD9B12f067FFFd5D57a61
**Base:**
- governanceProxy: 0x1C064265E053D23d120c518fDBB542e6537f82d1
- tokenPool: 0xd84e1B7e1a7A8D49167884855c3985ef4bCa45aB
- token: 0xCa78ee4544ec5a33Af86F1E786EfC7d3652bf005
- exchangeRateUpdater: 0x7a1e123e41458aabaB8068BFed6010D8f9480898
**Optimism:**
- governanceProxy: 0xaF956837AF704D825c1FCbE2651D5c3c37AD5289
- tokenPool: 0x8404024d8F74Ad2D20E82c184816B64D4184A018
- token: 0xfc63C9c8Ba44AE89C01265453Ed4F427C80cBd4E
- exchangeRateUpdater: 0xCa78ee4544ec5a33Af86F1E786EfC7d3652bf005
**Arbitrum:**
- governanceProxy: 0x607bCd974bB69C78eCdbf0B68748B791bBa24d94
- tokenPool: 0xbbc28DB61DF26B76D5F7D5Eed17eD4D6C278460e
- token: 0x7a1e123e41458aabaB8068BFed6010D8f9480898
- exchangeRateUpdater: 0x93685185666c8D34ad4c574B3DBF41231bbfB31b
**Berachain:**
- governanceProxy: 0x1992AF61FBf8ee38741bcc57d636CAA22A1a7702
- tokenPool: 0x8Bbd036d018657E454F679E7C4726F7a8ECE2773
- token: 0x02eaa69646183c069FC2B64F15923F27B9CF3b03
- exchangeRateUpdater: 0xDE1697A5da5d06904C9755E3FC287D215579Daf0
## On-chain actions
**Action 1:**
Accept ownership of sDOLA token in CCIP Token Admin Registry(0xb22764f98dD05c789929716D677382Df22C05Cb6) by calling acceptAdminRole with sDOLA address.
**Action 2:**
Accept ownership of sDOLA tokenPool by calling acceptOwnership() on tokenPool address(0x05eEe76f456C51Be0459EC1c0a78bf177B2c877C);
**Action 3:**
Set tokenPool for sDOLA by calling setPool(sDOLA, tokenPool) on tokenAdminRegistry
**Action 4:**
Accept ownership of govSender(0x4e521Fe7A9084067096d45A312B8FEeE39D5F1f3) on mainnet
**Action 5:**
Accept ownership of ExchangeRateUpdater(0x4e521Fe7A9084067096d45A312B8FEeE39D5F1f3) on mainnet.
# Proposal To Fund Chainlink Oracle for DOLA
Forum proposal: https://forum.inverse.finance/t/proposal-to-fund-chainlink-oracle-for-dola/602
**Summary**
Authorize Inverse Finance to subscribe to a Chainlink DOLA/USD price feed on Ethereum mainnet and Base, using budget previously approved by the DAO for Redstone oracle expenses.
**Why Inverse Needs a Chainlink Price Feed**
Inverse has been requesting a Chainlink price feed for several years, but only recently has DOLA volume reached a sustained level that now qualifies it for a Chainlink feed.
While waiting for Chainlink qualification, the DAO previously authorized funding for Redstone price feeds. However, instead of spending on third-party oracles, we successfully negotiated the use of hard-coded $1 DOLA values or EMA price feeds from Curve on multiple occasions — saving the DAO meaningful costs.
That approach is no longer sufficient. With sDOLA being considered more frequently as collateral for third-party lending markets — most recently at Morpho — curators and others are insisting on a high-quality, industry-standard price feed. Chainlink is the preferred provider and also meets our budget constraints.
A Chainlink feed for DOLA will also deliver brand benefits for both prospective partners and users, strengthening DOLA and Inverse’s credibility across the DeFi ecosystem.
Note: GWG is working with TWG on new liquidity opportunities on Berachain. Since Chainlink does not currently provide a price feed on Berachain, this proposal also requests permission to allocate funding for DOLA price feeds on other chains via providers like Chronicle Labs or other oracle providers, budget permitted.
**Background on Prior DAO Approvals**
- On April 15, 2024, the DAO approved a budget of $32,800 for Redstone oracle services.
- On November 27, 2024, the DAO approved an additional $12,800 for Redstone oracle expenses as part of the GWG Season 3 proposal.
- No DAO funds to-date have been spent on Redstone oracles.
- Together, these approvals total $44,800, which is sufficient to fund both the Chainlink DOLA/USD feed and a non-Chainlink feed (e.g. Chronicle Labs) on Berachain for one year.
**Terms of Service**
- Initial Term: 1-year minimum, auto-renews monthly unless either party terminates with 30 days’ notice after the first year.
- Payment: Invoices payable in USDC. The Growth Working Group will swap DOLA → USDC on CoW Swap to fund monthly payments.
**On-Chain Action**
Re-authorize the existing 55,170 DOLA in the Growth Working Group multisig.
# [4/7] Update to Pectra-Compliant FiRM Borrow Controller
Forum Link: https://forum.inverse.finance/t/update-to-pectra-compliant-firm-borrow-controller/547
### Summary
This proposal seeks to update the FiRM Borrow Controller across all active markets to a newly-deployed, Pectra-compliant version, addressing security risks introduced by [EIP-7702](https://github.com/ethereum/EIPs/blob/master/EIPS/eip-7702.md#self-sponsoring-allowing-txorigin-to-set-code). The upgrade ensures continued protection against flash loan exploits, reentrancy, and atomic transaction manipulations, while maintaining all previously implemented risk controls such as the rolling 24-hour borrow limit and daily borrow caps.
### Background
The borrow controller in FiRM plays a crucial role in risk management, ensuring that borrowing transactions comply with security measures such as:
* **Minimum Debt Amount**: Protecting the protocol from griefing by enforcing a minimum market debt allowed to be carried per user.
* **Smart Contract Verification**: Restricting borrowing from unauthorized smart contracts to mitigate risk.
* **Rolling 24-Hour Borrow Limit**: Preventing exploitative behaviors related to fixed-time resets.
* **Staleness Threshold**: Addressing stale oracle data exploits by preventing borrowing when price feeds have not updated within a governance-defined timeframe.
However, with the first phase of the Pectra hard fork scheduled for mid-March 2025, [Ethereum's EIP-7702](https://mixbytes.io/blog/the-prague-electra-pectra-hardfork-explained) introduces the ability for EOAs (externally owned accounts) to delegate execution to smart contracts, effectively bypassing FiRM’s existing protections against flash loans and reentrancy attacks.
To mitigate these risks, the new borrow controller enforces a stricter validation, combining `tx.origin == msg.sender` with `msg.sender.code.length == 0` to ensure that the caller is not a delegated smart contract. In doing so, it ensures full compatibility with the Pectra hard fork, maintaining security without sacrificing user experience.
The new borrow controller has been rigorously tested on the Prague EVM and reviewed by 3rd parties, both of which confirm it correctly blocks unauthorized delegated transactions while maintaining expected protocol functionality.
### Implementation Plan
This proposal will standardize the borrow controller across all active markets, eliminating existing discrepancies and bringing the rolling 24-hour borrow limit to all markets. All previously whitelisted addresses as well as market-specific daily borrow limits, staleness thresholds, and min debts will need to be set. As such with 33 live markets, this will require over 100 on-chain actions. As each proposal is limited to 20 on-chain actions, this will be spread out across 7 proposals.
This is Proposal # 4 of 7 and will apply to the following...
### On-Chain Actions
1. Set the Borrow Controller and Inherit All Existing Borrow Parameters for the following FiRM Markets:
-scrvUSD/DOLA, crvUSD/DOLA, scrvUSD/sDOLA
# Growth Working Group - Season 3 Proposal
Forum Link: https://forum.inverse.finance/t/growth-working-group-season-3-proposal/488
**GWG Season 3 180-day Objectives**
**Overview**
The DAO’s “north star” objective of reducing bad DOLA debt – which remains essential to returning greater value to INV tokenholders – remains intact after a good Season 1 and Season 2 repayment performances. The GWG directly impacts three of the four success levers mentioned in our most recent long-term strategy post:
- Boosting Product Adoption
- Enhancing Product Profitability
- Securing External Capital
Directionally, this Season 3 proposal reflects an intensifying competitive environment for stablecoins and seeks to put us in a more aggressive marketing posture than in previous Seasons. But even with this bolder posture, it is possible to execute while minimizing impact on the DAO’s runway and bad debt repayment schedules via the use of DBR and Inverse Points. This proposal also attempts where practical to incorporate feedback received during Season 2 from contributors and community members.
**Business Development & Strategic Growth Initiatives for Season 3**
General Comments:
In Season 3 the GWG recommends a more aggressive posture towards deploying DOLA Feds against well known lending markets like Morpho, likely in collaboration with third party vault curators like Re7 or Gauntlet.
As part of our “sDOLA Everywhere” and “INV Everywhere” vision, GWG also recommends a more aggressive posture towards deploying sDOLA, DOLA, and sINV across emerging L2 and EMV-compatible chains. While the list of chains is expanding quickly, the opportunity cost of establishing a presence - as we did on Mode and Blast in Season 2 - on any given chain is low but the option value of acquiring the “next” veAERO NFT is high, in addition to revenue and DOLA circulation opportunities.
The absence of acceptable DOLA price feeds for lending partners continues to be a challenge for the DAO. We previously funded a single Redstone oracle on Base for Gearbox (who delayed their launch on Base), however today we have opportunities on Ethereum mainnet, OP, and others. While this proposal increases the budget for Redstone feeds by one additional feed, as we pursue a vision of sDOLA and DOLA on many chains and as our DEX footprint expands, the DAO will need to accommodate the “fixed” costs of additional price feeds to support new lending partners.
Strategic growth initiatives (SGI’s) represent partner-driven new product, distribution, or business model opportunities designed to catapult Inverse forward in our industry. SGI’s are ideally partner-driven and leverage partner ecosystems or installed bases, where the GWG provides leadership in drafting requirements documents, business model analysis, proposal development, or in the case of DAO treasuries, outbound business development.
**Liquidity Partnerships**
Season 3 Objective: Close at least four new DEX partnerships on emerging L2s in collaboration with TWG.
Focus: sDOLA, DOLA, and sINV on existing L2’s as well as candidate chains including: Berachain, Sonic, Solana, Ink, X Layer, Linea, Fraxtal
**Lending, Perpetual Futures, Yield Aggregator Partnerships**
Season 3 Objective: Close partnerships across four third party lending platforms, one perpetual futures protocol, and two yield aggregators
Focus: sDOLA, DOLA
Season 3 budget request: additional 12,000 DOLA to fund Redstone DOLA feed on Ethereum mainnet.
**CEX Listings:**
Season 3 Objective: Close one new CEX without listing fees, incentivizing with up to 10,000 DOLA bounties.
**Strategic Growth Initiatives (SGIs):**
Season 3 SGI objectives: GWG will put forward a minimum of one strategic growth proposal during Season 3 including but not limited to the following:
Inverse Federation “Sister Project.” A sister project can both accelerate bad debt repayment while being accretive to INV tokenholder value. There are multiple sister project concepts being driven in part by the GWG
Inverse Points. As partners increasingly request incentives from Inverse in order to bootstrap new markets, pools, etc. and we make progress towards a sister project, a well-executed Inverse Points program can provide incentives that attract DOLA borrowers but also create fresh interest in INV itself at low cost to the DAO and without dilution of INV supply. This proposal was first made in Season 2 but a Season 3 objective would be to move to formal on-chain vote.
New business model concepts. SGI’s may include formulating and analyzing longer-term business model concepts which may require longer incubation timelines. All have the “north star” of DOLA bad debt repayment as a priority.
DAO Treasuries. Delayed during Season 2, diversification of DAO treasuries into sDOLA and DOLA LP positions on FiRM represents an excellent opportunity albeit with typically long sales cycles. The GWG has preliminarily identified a part-time resource to help penetrate this opportunity on a pay-per-performance basis which can be funded via existing DBR allocated to the Affiliate program on comparable terms.
Season 3 budget request: fund pay-per-performance DAO treasury BD resource using existing Affiliate program DBR using identical terms.
The DAO has already approved a Redstone price feed for Base and for Season 3 the GWG requests additional funding for a Redstone feed on Ethereum.
**Marketing Objectives for Season 3**
**Increasing Awareness**
A sister project, USD2, represent the most likely major news event for the DAO in Season 3, though direct funding of marketing and BD initiatives for USD2 are not included in this proposal and will instead be proposed separately.
On a monthly basis, GWG recommends an increase in monthly spend for community/third party content creators who produce written and/or video content in support of our products. The DAO’s growing portfolio of products, chains, partners, and user profiles can be better served by experimenting with a larger array of voices that help us both raise awareness and induce trial. Compensation rates for content are subjective and can range from $50 for simple self-published review videos to $500 for insightful and visually engaging analytical content that we post directly as Inverse content or is posted by the author. Ad hoc “spiffs” for community members actively helping us to drive our presence on X with high quality short-form content also falls into this category.
Season 3 budget request: 12,000 DOLA to fund regular community written and video content.
**Increasing Trial & Retention**
Similar to Season 2, GWG recommends a ~$2,000 per month budget for ad-hoc design talent to assist with the creation of visual design tasks.
Season 3 budget request: up 12,000 DOLA for ongoing freelance design and copywriting services.
**Community + Other**
- GWG will continue to manage a part-time Discord moderator and also recommends additional low budget community contest(s) in support of new product launches like FiRM v2.
- The GWG also subscribes to a limited number of marketing and design tools.
Season 3 budget request: 3,450 in DOLA for community and misc tools.
**Capital Raising**
- GWG will continue to lead/assist in raising capital in order to more quickly repay bad DOLA debt. Including:
Asset Sales: Explore strategic sales of veNFT assets for DOLA bad debt repayment.
- External Funding: Resume investor talks for OTC raises as market conditions improve.
- Legal Entity: Continue discussions for establishing a legal entity for Inverse.
**Budget Summary**
GWG Contributors to be paid at the following rates:
| Name | FTE | Pro Rata Monthly Salary | Total For Season 2 |
| ---- | --- | ----------------------- | ------------------ |
| patb | 1 | 14,500 | 87,000 |
Ad Hoc Expenses
The GWG multisig currently has 32,800 DOLA designated for a DOLA Redstone price feed and 307,440 DBR designated for the Affiliate Program. The GWG requests an additional 39,450 in ad hoc DOLA authorization.
| | Expense Type - DOLA | Estimated Monthly Expense | Estimated 6-Month Total Expense | Available in GWG Multisig | S3 Budget Request (DOLA) |
| -------------------- | --------------------------------------- | ------------------------- | ------------------------------- | ------------------------- | ------------------------ |
| | | | | | |
| Business Development | Redstone Feed & Gas - Base | $1,300 | | $32,800 | 0 |
| Business Development | Redstone Feed & Gas - Ethereum | $2,000 | $12,000 | | 12,000 |
| Marketing | Third party written & video content | $2,000 | $12,000 | | 12,000 |
| Design | Freelance design & copywriting services | $2,000 | $12,000 | | 12,000 |
| Marketing | Tools & Subscriptions | $75 | $450 | | 450 |
| Community | Discord Moderation | $300 | $1,800 | | 1,800 |
| Community | Contests & Promotions | $200 | $1,200 | | 1,200 |
| | | | | | |
| | | | Totals | | 39,450 | |
3,980 in unused DOLA from Season 2 is to be returned to the Treasury while 32,800 DOLA already approved for Redstone from Season 2 is carried over into Season 3.
**Budget Request Summary**
| Expense | DOLA |
| --------- | ------- |
| | |
| Salaries | 87,000 |
| Ad Hoc | 39,450 |
| Carryover | 32,800 |
| Total | 159,250 |
# Proposal to enable Chainlink CCIP Cross-chain Transfers of sINV
Forum post: https://forum.inverse.finance/t/proposal-to-enable-chainlink-ccip-cross-chain-transfers-of-sinv/484/3
**Background:**
sINV is the staked version of the INV governance token within the Inverse Finance ecosystem, designed to offer enhanced utility and long-term value for token holders. sINV automatically accrues rewards through the auto-compounding of INV staking rewards and DBR streaming rewards, providing a more convenient and efficient way for holders to benefit from staking without manual intervention. This token is issued as an ERC-4626 vault token, making it both flexible and portable… As Inverse Finance expands across multiple chains, cross-chain interoperability is crucial for maintaining liquidity and improving user access to the token’s benefits. Chainlink CCIP offers a decentralized, secure, and scalable solution for cross-chain communication and asset transfers. This integration will allow sINV token holders to transfer their assets seamlessly across Arbitrum, Base, Ethereum, and Optimism.
**Motivation:**
The expansion of sINV to multiple chains will:
**Increase liquidity:** By allowing sINV holders to transfer tokens between different chains, ensuring efficient capital flows.
**Enhance user experience:** Simplifying the process of managing sINV across different chains, reducing friction for token holders.
**Expand utility:** Facilitate seamless integration with dApps and DeFi protocols across multiple networks.
Implementation:
A system of message-sending contracts has been deployed to facilitate cross-chain communication using Chainlink CCIP. These contracts support secure transfers of messages between Ethereum mainnet and L2s supported by CCIP, with the GovernanceProxy contracts acting as an outpost of Inverse DAO governance on the L2 they’re deployed to.
On each L2 a mintable receipt token has also been deployed with built-in functionality to add and remove minters of sINV tokens on the supported chains. This governance feature ensures that the DAO retains control over who can mint sINV, allowing it to support lock-and-mint bridging solutions like CCIP.
**On-Chain Actions:**
- Take ownership of GovernanceSender contract on Ethereum Mainnet
- Add minting rights of L2 mintable tokens to the Chainlink CCIP bridge through the ReceiptTokenHelper:
Base:
- ccipChainSeparator: 15971525489660198786
- ccipBurnAndMintBridge: 0xA84a33295C869E9ad2131Ea66e9674A61805aC4c
- receiptToken: 0x8Bbd036d018657E454F679E7C4726F7a8ECE2773
Optimism:
- ccipChainSeparator: 3734403246176062136
- ccipBurnAndMintBridge: 0x8A642dE15D7DCCb16eE68D0eF6821F5cf38cd7Fb
- receiptToken: 0x1992AF61FBf8ee38741bcc57d636CAA22A1a7702
Arbitrum:
- ccipChainSeperator: 4949039107694359620
- ccipBurnAndMintBridge: 0x8728c15Ddd4dB933B0cbA8a0bf74090EdfC53A74
- receiptToken: 0x4C7b266B4bf0A8758fa85E69292eE55c212236cF
# Proposal to launch sINV
Forum link: https://forum.inverse.finance/t/proposal-to-launch-sinv/458
**Summary**
This proposal seeks to introduce and launch Staked INV (sINV) within the Inverse Finance DAO. sINV offers a way to bring the INV governance token to users who do not trade on Ethereum mainnet, gives Ethereum mainnet users a way to own INV without the need to manually claim rewards, and creates opportunities to make sINV available as loan collateral on third party lending markets.
**Background**
INV staking rewards are intended as a type of anti-dilution protection for INV holders, protecting them against current and future INV emissions from liquidity and other DAO operations. To receive INV staking rewards, and DBR streaming rewards, requires staking INV exclusively on FiRM on Ethereum mainnet. This design results in multiple opportunity costs for the DAO:
* Potential INV holders on non-Ethereum mainnet chains (e.g. L2’s) do not have direct access to INV, reducing demand for INV
* Current INV stakers must manually claim DBR streaming rewards, which some view as inconvenient and, during periods of high gas costs, expensive.
* INV holders interested in participating in DEX liquidity pools may hesitate due to perceived loss of staking and DBR streaming rewards, despite incentives provided by the DAO to compensate for such loss.
* INV holders interested in utilizing their INV as loan collateral on third party lending markets are unable to do so without suffering dilution.
In the interests of maximizing INV tokenholder value, the introduction of a more portable, auto-compounding version of INV is an attractive option for the DAO.
**Staked INV: A Step Towards Expanded INV Ownership**
We propose the creation of a wrapped or “staked” version of INV, sINV, where INV staking and DBR streaming rewards are auto-compounded into a single ERC-4626 vault token.
The proposed design for sINV closely mirrors the design of the yield-bearing sDOLA vault token launched earlier this year. INV held in the sINV vault receives a stream of INV staking rewards according to the prevailing xINV staking rate advertised on FiRM, but also additional INV derived by converting DBR streaming rewards to INV at the prevailing DBR streaming rewards rate on FiRM.
Similar to sDOLA, sINV uses a dedicated XY=K auction, where DBR streaming rewards are sold for INV using a Dutch auction. The auction permissionlessly allows anyone to buy DBR using INV, with the price of DBR (per INV) continuously reducing every second until a DBR purchase is made at which point the price will increase. As with the virtual XY=K DBR auction, it is expected that MEV bots will be the main driver of the auction, completing arbitrage transactions between it and the DBR/INV pool on Curve as soon as it becomes profitable.
Similar to sDOLA, sINV operates on a weekly reward cycle, resetting every Thursday at 00:00 UTC. The INV accumulated from the auction during each cycle is then distributed continuously to sINV holders pro-rata in the subsequent cycle.
An important distinction of sINV is that unlike sDOLA, where demand for sDOLA does not result in a continual increase in the price of DOLA, sINV serves as a continual source of market buy pressure for the INV token as DBR are continually auctioned for INV and deposited in the sINV vault, while differences in price between sINV and INV will be quickly levelled out by arbitrageurs.
sINV may be wrapped and unwrapped only on Ethereum mainnet and users may unwrap and withdraw their INV from the sINV vault at any time with no withdrawal delay.
**Cross-chain Support for sINV**
An important reason for bringing sINV to market is to enable cross-chain portability and utility of INV in ways that are not currently available to users. As an ERC-4626 vault token, we believe Chainlink’s Cross Chain Interoperability Protocol is the safest and most reliable option for bringing sINV to other chains, particularly Ethereum Layer 2’s like Base, Arbitrum, and OP Mainnet. The approval process for sINV is already underway with Chainlink and with approval of this proposal, rollout of sINV to new chains will begin in the coming weeks.
**Deployed Contracts**
[sINV: 0x857b87171C99C234AC7DCD6A96859e78B1D1A625](https://etherscan.io/address/0x857b87171C99C234AC7DCD6A96859e78B1D1A625)
**On-Chain Actions**
- Transfer 80,000 DBR to the sINV contract to bootstrap initial DBR reserves.
# Launch the FiRM Affiliate Program
Forum Link: https://forum.inverse.finance/t/launch-the-firm-affiliate-program/452
**Summary**
90-day beta test of FIRM Affiliate program aimed at bringing new borrowers to FiRM.
**Background**
Made popular initially by Amazon, affiliate programs are common today across CEX and certain DEX protocols, and have seen some usage by DeFi protocols including Aave. As a pay-per-performance user acquisition model, an Affiliate program represents a cost-effective way to grow FiRM TVL that rewards Affiliates according to the quality/size of their referrals and is more cost effective for the DAO than conventional PPC or other online user acquisition tools.
The DAO has searched previously for ways to implement Affiliate programs on a permissionless basis but the ability to “game” a program through self-dealing (i.e., registering yourself as an Affiliate to receive discounted DBR) has been a blocker. An alternative approach using a whitelist that limits participation to influencers and businesses that meet certain eligibility criteria presents a new approach worthy of an experiment.
**Criteria**
For FiRM, a top program design goal is to minimize the risk of gaming whereby a prospective borrower registers as an Affiliate in order to benefit from an Affiliate reward (i.e., commission), which functions as a discount. Instead, we can filter Affiliate applicants based on their social media and other verifiable reach, specifically:
**_Individual_**
‣ Social media influencer with 5,000+ followers or subscribers on one or more social media platforms (Twitter, YouTube, Facebook, Instagram)
**_Crypto Communities_**
‣ Financial leaders or opinion leaders with a community of 500+ members on one or more community groups (Telegram, Facebook, Discord, WeChat, Reddit)
**_Business/Organization_**
‣ User base of 2,000+
‣ Market analysis platform with 5,000+ daily visits
‣ Industry Media Platform
‣ Crypto Fund
‣ DEX, Yield Aggregator, or Similar Platform
**How It Works**
‣ Prospective Affiliates submit an application by filling out a Google form. The Growth Working Group evaluates each to validate participation criteria.
‣ Approved (whitelisted) applicants receive a dedicated Affiliate URL that can be shared with their audience/community.
‣ Affiliates promote FiRM via the dedicated Affiliate URL
‣ When a new borrower uses the dedicated Affiliate URL, the borrower signs a message confirming the referral from an Affiliate’s address and borrows DOLA on FiRM. The Affiliate receives a monthly reward payment from the DAO equal to 10% of the DBR spent by their referred borrowers during the prior month.
‣ Payments are sent to the Affiliate wallet address monthly. Affiliates are eligible for reward payments for each borrower they bring to FiRM for up to 12 consecutive months. For the sake of clarity, the DAO will pay an Affiliate reward for a 12 month DOLA loan from a single borrower, but for a 13 month DOLA loan, the Affiliate payments for that borrower would end after the 12th month. The maximum monthly payout to any single Affiliate during the beta test period is 200,000 DBR.
‣ Affiliates reward activity is viewable via an Affiliate dashboard and a dedicated Discord channel will be available to Affiliates for support.
**Other**
‣ 90-day beta test runs from August 15 thru November 15th. Program may be extended by governance.
‣ Referrals made via sybil attacks or other prohibited means may be denied payment
‣ Open to approved participants only. Governance reserves the right to make changes to the program at any time
The program is designed to require little or no ongoing support apart from reviewing applications and processing monthly payments to Affiliates.
**Budget Request**
For purposes of testing this program, GWG requests an initial authorization of 250,000 DBR to support payments to Affiliates for loans initiated during the beta test period. As the program matures and Affiliate-generated loan volume increases, follow-on authorization requests to grow and sustain the program will be necessary.
# Proposal for Retroactive INV Grants for DAO Contributors
Forum proposal here: https://forum.inverse.finance/t/proposal-for-retroactive-inv-grants-for-inverse-finance-dao-contributors/431
**Background and Summary**
In Q3 2023, an improved structure for INV contributor vesting was proposed as all INV vesting contracts were due to begin expiring in November 2023. The new vesting structure was added to the product development pipeline and contributors agreed not to propose individual INV grants pending the approval of the new structure for all contributors. Due to delays in implementing the new contract, an interim INV grant proposal was proposed [and recently passed](https://www.inverse.finance/governance/proposals/mills/195), however it is forward-looking and by design does not address the period between the lapse of individual vesters and the May 1, 2024 start date of the interim proposal. As referenced in the text of that interim proposal, the purpose of this proposal is to compensate contributors for this period.
**Proposal**
Award INV to contributors at the lowest rate allocated to any contributor prior to the interim proposal and according to the number of days between the end date of their last INV grant and the May 1, 2024 start date of the interim proposal. For Product Working Group developer @Tabboz, who joined on a part-time basis on August 26, 2023 and agreed to delay his individual INV grant proposal pending the availability of a new INV vesting contract, it is proposed that he be awarded at the lowest of the full time allocations, 0.356/day, divided by two or 0.178/day.
|Name|Vesting End Date|Start Date of new INV vester -1|Days Unpaid|xINV/day|unpaid xINV|Total unpaid INV* (*current xINV exRate)|
| --- | --- | --- | --- | --- | --- | --- |
||||||||
|0xMT|4/2/2024|5/1/2024|29|0.356|10.32|78.31|
|Cryptoharry|2/3/2024|5/1/2024|88|0.356|31.33|237.62|
|Edo|2/28/2024|5/1/2024|63|0.356|22.43|170.11|
|Naoufel|2/3/2024|5/1/2024|88|0.356|31.33|237.62|
|Patb|11/6/2023|5/1/2024|177|0.356|63.01|477.94|
|Alien|11/1/2023|5/1/2024|182|0.356|64.79|491.44|
|Tabboz*|8/26/2023|5/1/2024|249|0.178|44.32|336.17|
||||||||
|Current xINV exRate:|7.584825631|||Total|267.53|2029.20|
|*retroactive|||||||
**Conclusion**
This proposal ensures that contributors receive fair compensation for the period between the old and new INV vesting contracts.
# Proposal to Fund Participation Incentives for FiRM Market Research
Forum proposal here: https://forum.inverse.finance/t/proposal-to-fund-participation-incentives-for-firm-market-research/430/1
**Background & Summary**
FiRM currently offers competitive fixed borrow rates against various blue-chip assets, but it lags OG variable rate lending platforms in TVL. Although FiRM’s lending capacity has grown recently, borrowing activity has not kept pace, prompting discussions on how to boost borrowing on the platform.
DAO contributors and community members have suggested several hypotheses that could be explored through one-on-one interviews with whales or other wallet holders. Potential interviewees could be sourced from partners like Yearn or Frax, who benefit from having their collateral on FiRM, as well as via other community members.
The Growth Working Group conducted similar interviews with potential users holders in the past and the timing is right for additional research today.
**Objectives**
- Conduct live interviews with up to 10 large “whale” borrowers regarding attitudes toward FiRM
- Conduct live interviews with up to 10 smaller “dolphin” borrowers regarding attitudes toward FiRM
- Timing: beginning ASAP and conclude in August
- Compensation: provide interviewees with incentives to participate. Whales 7,000 DBR ( approx $500) each. Non-whales 1,400 DBR ( approx $100). Payable in DBR.
- Share summary data with the DAO at the conclusion of the research.
**Proposal**
- Allocate $5,500 (78,000 DBR today) to the GWG for purposes of market research.
# Growth Working Group - S2 Proposal
## Growth Working Group - Season 2 Proposal
Forum Post: https://forum.inverse.finance/t/treasury-working-group-s2-proposal/413
### Summary
Proposal for Inverse Finance DAO to cover operations of the Growth Working Group (TWG) in Season 2, running from May 1st to November 31st, 2024.
### About The Growth Working Group
The GWG manages a wide portfolio of responsibilities including business development, marketing, design, community, and capital raising. In addition, the GWG engages in day-to-day risk-related activities including serving on Fed Chair and Policy multisigs.
### Season 2 180-Day GWG Objectives
We outlined the DAO’s 12-month objectives in August 2023 in this post and our “north star” objective of reducing bad DOLA debt – which is essential to returning greater value to INV tokenholders – remains intact after a decent Season 1 repayment performance.
The GWG directly impacts three of the four success levers mentioned in that document:
- Increase product adoption
- Increase product profitability; and
- Raise external capital;
In support of these three levers, the GWG has identified 180-day objectives across its functional areas of responsibility:
- Business development
- Marketing
- Design
- Community: and
- Capital raising.
Where possible, deliverables are reduced to measurable objectives.
### Business Development Objectives
Business development objectives impact product adoption and profitability. For Season 2, business development objectives are grouped into three categories:
- Liquidity partnerships,
- Third party lending partnerships; and
- Strategic growth initiatives;
Liquidity Partnerships.
In support of objectives laid out in our forthcoming product roadmap, liquidity partnerships help create demand for DOLA and sDOLA, help to expand lending capacity, create veNFT assets, generate treasury ops revenue where Feds are deployed, help manage the DOLA peg, and reduce our reliance on INV for liquidity incentives. New liquidity partnerships also help drive higher volumes which get us closer to a Chainlink oracle for DOLA, which is a hard requirement for certain leading lending markets.
Emerging L2 DEX’s
Perhaps the most significant liquidity partnership opportunity for the DAO centers on a growing number of Ethereum Layer 2 chains, where DOLA’s success on Base/Aerodrome is creating real demand for DOLA liquidity partnerships elsewhere. Many of our competitors have already begun to deploy liquidity in this way and Inverse can similarly take advantage of these opportunities with minimal risk (using native bridges and no feds) and expense.
For sDOLA, this L2 expansion lays the groundwork for partnerships with lending protocols and even perpetual futures markets keen on adopting new yield bearing collateral. Similarly, for our upcoming sINV product, the same partnerships can help drive demand for INV on new chains, bringing INV ownership to new segments.
We are currently in dialogue with well over a dozen potential L2 partner DEX’s. GWG analysis of emerging L2 opportunities takes into account current or likely TVL, community, partnership terms, team, and other attributes. While data is being updated on an almost daily basis, the GWG currently recommends - subject to RWG and TWG signoff - the pursuit of new DOLA, sDOLA, and sINV liquidity partnerships on:
- Berachain
- X Layer (OKX)
- Mantle
- Linea
- Fraxtal
Season 2 objective: close a minimum of three new DEX partnerships on emerging L2’s, subject to RWG and TWG signoff.
CEX’s
INV liquidity and volume on centralized exchanges remains light and our policy of paying zero fees for CEX listings has limited our recruitment of new CEX partners. However we remain in discussion with multiple CEX’s including among the top 5, who show some indications that INV could be added durings Season 2. The DAO should continue to seek out no-pay CEX listings and we are prepared to offer bounties of up to 5,000 DOLA for members who help us close no-fee CEX listings.
Season 2 objective: close one new CEX partner.
Third Party Lending, Perpetual Futures, and Yield Aggregator Partnerships
Also supporting DOLA Everywhere and INV Everywhere, we can build new relationships with third party lending and perpetual futures market protocols. DOLA’s success on Base is creating multiple near-term opportunities to add DOLA as a lend/borrow-only asset on lending markets without the requirement of a Chainlink price feed. GWG recently put forward a proposal, now passed, to acquire a Redstone price feed which is increasingly accepted as an alternative to Chainlink.
Today, we have one public proposal viewable on the Compound Finance forum and other proposals in the discussion stage, primarily on Base where DOLA liquidity is deep but also on Ethereum mainnet. Emerging L2’s are also likely sources of both lending and perpetual futures market partners. We have an active discussion with one perpetual futures market partner on an emerging L2 and preliminary discussions with two others, though sDOLA liquidity may be a gating factor in rollout. Also with our L2 expansion we have an opportunity to recruit new yield aggregator partners replicating our success to-date with Beefy and others.
Season 2 objective: close a minimum of three third party lending market partners.
Strategic Growth Initiatives
Strategic growth initiatives (SGI’s) represent partner-driven new product, distribution, or business model opportunities designed to catapult Inverse forward in our industry. SGI’s are ideally partner-driven and leverage partner ecosystems or installed bases, where the GWG provides leadership in drafting requirements documents, business model analysis, proposal development, or in the case of DAO treasuries, outbound business development.
Inverse Developer Partner Program. We are in the early stages of testing a program to enable “white label” access to fixed rate lending to partner users without directly surfacing today’s FiRM UX. We will provide an abstraction layer to assist developers who want to help bring FiRM everywhere. Draft proposal here. Season 2 objective: launch the Inverse Developer Partner Program with at least two grant applications.
Inverse Federation “Sister Project.” A draft whitepaper for our first Inverse “sister project” keying off last September’s Inverse Federation is underway. This and/or another Inverse Federation concept - whose goals include paths for faster DOLA bad debt repayment - will be presented to the DAO during Season 2.
New business model concepts. SGI’s may include formulating and analyzing longer-term business model concepts which may require longer incubation timelines. All have the “north star” of DOLA bad debt repayment as a priority.
DAO Treasuries. Diversification of DAO treasuries into sDOLA represents an excellent opportunity for increasing sDOLA demand, albeit with typically long sales cycles. The GWG recommends identifying a part-time resource to help penetrate this opportunity on a pay-per-performance basis. Alternatively, we could identify a partner seeking to assist DAO’s in this regard. Compensation for this role, when a resource is identified, will be subject to governance vote. Season 2 objective: identify a part-time resource or partner to help penetrate DAO Treasuries to close at least $500K in DOLA or sDOLA treasury diversification.
Grants. Two paths for grants are a) deploying FiRM (or other Inverse dapp) on a new chain with a grants program and b) apply for a grant on a chain where projects not deploying a dapp and only liquidity are eligible.
Other Season 2 SGI objectives: GWG will put forward a minimum of one new strategic growth proposal during Season 2.
### Marketing Objectives
The GWG is also responsible for marketing and communications functions for the DAO, with goals of driving awareness, trial, and adoption of DOLA, sDOLA, FiRM, and the INV token. Note: GWG is limiting requests for additional marketing and promotional resources, including events, pending further improvements in the DAO’s operating runway.
Increasing Awareness.
- We begin awareness raising by crafting narratives to support DAO priorities like sDOLA, new collateral on FiRM, and other product launches. These are often supported with formal marketing planning and coordination with working groups, partners, creatives, and community members.
- Moving sDOLA and sINV onto emerging L2’s with new DEX and other partners in Season 2 will provide high-visibility awareness opportunities across new user segments and with partners keen to promote ecosystem growth. Certain new partner-driven collateral like sFRAX also have high potential to boost awareness.
- For major product launches like sDOLA, we craft low-budget, high-intensity marketing campaigns to break through in a loud crypto marketplace. We will execute a “major” campaign for sINV with smaller, partner-driven campaigns for cross-chain sDOLA deployments. The sINV launch will also provide for compensating third party YouTube and long-form Twitter content writers who provide compelling or high traffic content. GWG recommends a total of 1,200 DOLA for third party content to support the sINV launch during Season 2.
- Twitter/X remains our primary channel for reaching new users. We engage current and prospective users on Twitter/X on a continual basis, with an emphasis on partner-driven events, new Inverse product launches, and DOLA yield farming opportunities. There is now a high likelihood that the @inversefinance account will receive a “blue check” during Season 2, allowing for long-form content and better performance vs. Season 1 for our posts due to the X algorithm design.
- For Season 2 we will expand our presence on Warpcast and offer one or more promotions to build our audience there, which today has a heavy concentration of Base users.
- GWG also creates blog and newsletter content which are useful for both awareness raising as well as retention but also serve as due diligence tools for prospective users and potential partners. GWG also works with publishers like Coingecko and Coinmarketcap and now engaging Token Terminal along with AWG to improve our presence there.
- To bring a new layer of “expert” reference content to our marketing, in Season 2 we will do a low-budget test with an outside analyst firm to support our sINV launch, support cross-chain sDOLA, and generate coverage of Inverse on an ongoing basis. GWG recommends a up to 100 INV for a test with a third party analyst firm during Season 2.
Increasing Trial and Retention
- A large opportunity for inducing trial of sDOLA and sINV in Season 2 are new partnerships on emerging L2’s where via partner co-marketing, partner-led incentives, and grants help us induce trial across segments we are likely not reaching today.
- Until a date is set for FiRM availability on an L2, for Season 2 GWG will focus our overall trial efforts on sDOLA and sINV. We also achieve trial via users joining liquidity pools and lending markets which incorporate either of these products.
- Increasing trial on FiRM mainnet is impacted by DBR prices, lending capacity, collateral options, and other factors driven from outside of the GWG. We will continue to focus our trial efforts around messaging new collateral like sFRAX, long-term lending use cases, and as market conditions permit launch promotions to encourage variable rate users to migrate loans to FiRM.
- In Season 2 we will continue the work with the AWG to provide cohort analysis among DOLA and, soon, sDOLA holders in order to help us form better approaches to segmenting the DOLA LP and sDOLA markets which also informs our L2 expansion strategy.
Other communications. The DAO requires ongoing communications leadership both for routine DAO communications but also during unusual events and the GWG continues to work to ensure a high level of professionalism in all our outbound communications. For Inverse this function is particularly important as in addition to the DAO’s commitment to transparency, the DAO’s bad debt adds extra importance on trust building within the community. High transparency, high impact communications are essential to strengthening the Inverse brand.
### Design
- The DAO will continue to rely on freelance creatives who can fit our budget since visual assets improve audience engagement. We will continue to experiment with AI tools, which are powerful in terms of generating baseline content but the editing process for quality animated output is still fairly time intensive.
- In light of upcoming product launches and other initiatives, GWG recommends a total of 7,200 DOLA in ad hoc design spending during Season 2.
### Community
- GWG will continue to manage a part-time Discord moderator and also recommends additional low budget community meme contest(s) in support of new product launches. Total Season 2 DOLA budget for mod and contest expenses: 3,000.
### Capital Raising
- Treasury Asset Sales. The DAO’s veNFT portfolio is increasingly attractive as a vehicle for more quickly retiring bad DOLA debt. GWG has already led discussions in this regard and we should expect veNFT’s to become more marketable later in 2024 when they become splittable. GWG will continue to work with TWG to qualify these opportunities before bringing to a governance vote.
- OTC Sales. The uptick in treasury ops revenue and the likely increase in DAO lending revenue is making the need for outside capital to repay DOLA bad debt less urgent. Despite the lack of a legal entity, the DAO may still seek to do an additional OTC sale for purposes of retiring bad DOLA debt or funding a sister project. GWG will facilitate discussions with potential OTC buyers during Season 2.
- Inverse legal entity. The prospects for a legal wrapper or similar entity for the DAO appear unlikely today, however at least one Inverse contributor is likely to form an entity which can help us achieve some of the goals of a legal entity. The GWG will continue to support this effort.
### Other GWG Activities
- Fed Chair. Like other Fed chair members, @patb is on standby 24 hours per day, seven days per week.
- Policy Committee.
### Budget
GWG Contributors to be paid at the following rates:
| Name | FTE | Pro Rata Monthly Salary | Total For Season 1 |
| ---- | --- | ----------------------- | ------------------ |
| patb | 1.0 | 14,500 | 87,000 |
Ad Hoc Expenses
The GWG multisig currently has 32,800 DOLA designated for a DOLA Redstone price feed and 120 INV remaining in its multisig from its Q2 2022 budget proposal 1. The GWG requests an additional 11,850 in ad hoc DOLA authorization and 110 additional INV authorization for Season 2.
| Expense Type - DOLA | Description | Estimated Monthly Expense | Estimated 6-Month Total Expense | Available in GWG Multisig | S2 Budget Request |
| ------------------- | ---------------------------------------------------------------- | ------------------------- | ------------------------------- | ------------------------- | ----------------- |
| Marketing | YouTube and other creator content in support of product launches | 200 | 1200 | | 1,200 |
| Marketing | Tools & Subscriptions | 75 | 450 | | 450 |
| Design | Freelance design services | 1,200 | 7200 | | 7,200 |
| Community | Discord Moderation | 300 | 1800 | | 1,800 |
| Community | Contests & Promotions | 200 | 1200 | | 1,200 |
| | | | | | |
| Total DOLA | | | 11850 | 0 | 11,850
| Expense Type - INV | Description |Estimated Season 2 INV Expense|
| ------------- | -------------- |------------- |
| Business Development | Spot rewards for community members assisting with BD & Marketing objectives | 30 |
| Marketing | Analyst Research | 100 |
| Marketing | Other | 100 |
| Total | | 230 |
| Expense | Total Season 2 |
| ------------- | -------------- |
| Salaries | 87,000 |
| Ad Hoc - DOLA | 11,850 |
| Total DOLA | 98,250 |
| | |
| Ad Hoc- INV | 230 |
| Total INV | 230 |
# Proposal To Add Redstone Oracle for DOLA on Base
### Summary
Subscribe to Redstone price feed for DOLA to support third party DOLA lending market opportunities on Base.
### Why Inverse Needs a DOLA Price Feed
-- We are in the proposal stage with multiple lending markets on Base where DOLA will be proposed as a borrow-only or collateral asset. While Chainlink remains the “industry standard” for price feeds, volume and other requirements make a Chainlink oracle for DOLA unavailable in the near term. Redstone, a Chainlink rival, is increasingly accepted among popular lending markets as an alternative price feed and a DOLA feed from Redstone can be built and supported for a fee.
-- Protocols where DOLA is proposed just as a borrow-only asset (not collateral) to-date have also responded that there is a strict requirement for a Chainlink or Redstone price feed and proposals relying on hard-coding DOLA to $1 will be downvoted.
### About Redstone
Website: https://redstone.finance/
How Redstone works: https://docs.redstone.finance/docs/smart-contract-devs/get-started/redstone-classic
Data feeds: https://app.redstone.finance/
Sample data feeds on various EVM chains with the RedStone Core model: https://showroom.redstone.finance/
Third party (pro-Redstone) analysis:
Exploring the Distinctions Between RedStone, Chainlink, and Pyth Oracles https://medium.com/@legendarycobraclub/exploring-the-distinctions-between-redstone-chainlink-and-pyth-oracles-415b71a47e54
Chainlink vs. Redstone. Both Chainlink and RedStone are https://medium.com/@stnetchile/chainlink-vs-redstone-9b5e6f6e91a1
Oracle Risk Assessment: RedStone - HackMD https://hackmd.io/@PrismaRisk/RedStone
### Audits
https://redstone.finance/#audits
### Terms
#### Setup Fee:
$25k fixed, one-time fee. This covers the setup of a price feed including the development, data sources setup, and infrastructure setup, e.g. relayers.
#### Infrastructure Maintenance:
Base fee for maintaining the feed on one network: $1k/month
Launching the feed on an additional network: additional $500/month per network
#### Gas Fees:
https://docs.redstone.finance/docs/smart-contract-devs/get-started/redstone-classic
On Ethereum mainnet: ~$1k-$1.5k/month at standard Gas Costs levels (estimate) but can get pricier if there is a lot of volatility on the market.
On L2s: ~$150-$300/month per network in Gas Costs.
### Analysis
A Redstone DOLA price feed for Base only would require approximately $40,600 in one-time setup and monthly maintenance and gas costs over 12 months, or an average of approximately $3,400 per month. Prelim analysis, with a hypothetical four chains for purposes of analysis, here: https://docs.google.com/spreadsheets/d/1JwWz2aWaI6sDsMvHMuTk8qBVwOeQpqpVSAuaB0Pio5I/edit?usp=sharing
The benefits of a Redstone price feed for Inverse on Base include:
o Partnerships that lead to new sources of demand for DOLA, lowering liquidity costs and improving FiRM lending capacity
o Opportunities to announce partnerships with well-known third-party lending protocols, attracting still other lending protocols across chains
o Redstone oracle serves as a proxy for quality or reliability which enhances the DOLA brand.
### Proposal
Authorize the Growth Working Group to spend up to $32,800 over six months on a Redstone DOLA oracle.
Forum proposal here: https://forum.inverse.finance/t/proposal-to-add-redstone-oracle-for-dola-on-base/390/1
# Growth Working Group - Season 1 Proposal Revised
Forum link: https://forum.inverse.finance/t/growth-working-group-season-1-proposal/318
## 1. Summary
Proposal for Inverse Finance DAO to cover operations of the Growth Working Group (GWG) in Season 1, running for 6 months October 1st 2023 to March 31st 2024.
## 2. The Growth Working Group
The GWG manages a wide portfolio of responsibilities including business development, marketing, and capital raising. In addition, the GWG engages in day-to-day risk-related activities including serving on Fed Chair and Policy multisigs. Going forward, the GWG is led by @patb who joined Inverse as head of growth in 2021 bringing deep experience in enterprise and consumer software marketing, business development, product development, and operations, including previous web3 marketing & business development experience at Index Coop.
## 3. 2022-23 Lookback
Since summer 2022, we’ve successfully re-casted the DAO’s go-to-market strategy around FiRM, where the GWG took the concept of rights-based borrowing and drafted product requirements, authored the FiRM whitepaper, developed and executed a launch strategy, created new copy and brand assets, designed a new homepage, and worked hand-in-hand with other working groups and community members to bring it all live in December 2022.
FiRM was initially slow to gain market traction. In 1:1 interviews with potential users, we learned that the freshness of the concept of borrowing rights combined with a “wait and see” attitude was largely to blame, however the addition of CRV and yield-bearing collateral helped us jumpstart borrowing and today FiRM boasts over $50MM in TVL with borrow demand currently outstripping our lending capacity. Since launching FiRM, the GWG has worked to promote new markets, spread the vision of FiRM, expanded and promoted our roster of liquidity partners, and pursued new strategic opportunities for the DAO.
It is important to note that since April 2022 the GWG has minimized discretionary spending in favor of a hyper-lean mode that emphasizes passion and perseverance through some very challenging market conditions. This spend level should continue in Season 1 and is prudent as we continue to solidfy product-market fit for FiRM and especially as we seek to preserve the DAO’s treasury during a sideways market.
Alas, not everything the GWG did over the last year went as expected. Despite best efforts, our lack of a legal entity and other factors made efforts to sell significant amounts of DBR to repay bad DOLA debt largely unsuccessful. Our market making partnership with DWF was paused pending improved reporting from them, reducing the expected bad debt repayment from their OTC buys. Also, multiple new “ve3,3” DEX partners struggled to attract meaningful TVL in 2023. We continue to try new things, move quickly, and learn from our past mistakes.
## 4. 180-Day GWG Objectives
The DAO’s 12-month objectives are outlined in this post and center on our primary north star objective of reducing bad DOLA debt, which is essential to returning greater value to INV tokenholders. The GWG directly impacts three of the four success levers mentioned in that document:
Increase product adoption
Increase product profitability; and
Raise external capital;
In support of these three levers, the GWG has identified 180-day objectives across its functional areas of responsibility - business development, marketing, and capital raising. Where possible, GWG deliverables are reduced to measurable objectives.
**Business Development Objectives**
To improve product adoption and product profitability, the GWG’s business development function is emphasizing two themes in Season 1:
Liquidity partnerships, and
Strategic growth initiatives;
**Liquidity Partnerships.**
Liquidity partnerships help create demand for DOLA, expand lending capacity, generate treasury ops revenue when Feds are deployed, manage the DOLA peg, and can reduce our reliance on INV for liquidity incentives. Driven in collaboration with TWG and RWG, our ability to be responsive to new opportunities on multiple chains combined with attractive incentives for DOLA LP’s is making Inverse a go-to partner for new DEX projects as well as stablecoin projects seeking a partner for co-incentivized pools. DEX partners like Velodrome have proven particularly valuable and replicating that relationship is of high-value to the DAO. Specifically, the GWG will pursue liquidity partnerships on:
**BASE.** Base represents an opportunity to grow liquidity through our close collaboration with Aerodrome (Velodrome) but also through other emerging DEX partners. We expect Base TVL to grow dramatically over the next 12-24 months as Coinbase onboards more of their CEX users to Base. Season 1 objective: close a minimum of two new DEX partnerships on Base.
**Other L2 Chains.** New liquidity partnerships on Arbitrum, Polygon, opBNB, and potentially other emerging L2’s represent liquidity opportunities for the DAO as DEX partners often provide incentives at no cost to Inverse. Season 1 objective: close a minimum of two new DEX partnerships on other L2 chains.
**CEX.** Our policy of paying zero fees for CEX listings has limited our roster of new CEX partners, however we remain in discussions with a top tier exchange that if green-lighted would justify a governance vote on a listing fee. Season 1 objective: close a minimum of one new CEX partner.
**Grants.** Multiple L2’s have existing or planned grants programs to attract new deployments to their chains. We are currently focusing on an OP grant pending FiRM deployment on OP mainnet but exploring others for Arbitrum, Base, and potentially opBNB. Additionally, application-layer protocols provide an additional avenue for grant opportunities.** Season 1 objective: close a minimum of one grant worth > $100K.
**Fiat On-Ramp.** Due to a lack of legal entity Inverse has been without a dedicated fiat on/off ramp to FiRM. The addition of a legal entity facilitates this. Season 1 objective: close a minimum of one fiat on-ramp partner, assuming we have a legal entity during Season 1.
**Other Partnerships.** While not directly driving liquidity, DOLA farming opportunities promoted by yield aggregators like Beefy drive demand for DOLA. As our presence on new chains expands, we will engage more YA’s, bringing an expanding array of options for DOLA farmers. Season 1 objective: close a minimum of two new yield aggregator partners.
**Strategic Growth Initiatives.**
Strategic growth initiatives (SGI’s) represent partner-driven new product, distribution, or business model opportunities designed to catapult Inverse forward in our industry. SGI’s are ideally partner-driven and leverage partner ecosystems or installed bases, where the GWG provides leadership in drafting requirements documents, business model analysis, proposal development, or in the case of DAO treasuries, outbound business development.
**DOLA “Sinks.”** A high priority for the DAO is the creation of organic and ideally un-incentivized demand for DOLA. For example, we are informally exploring concepts for new DOLA “sinks” or vaults in collaboration with partners, to encourage users to hold DOLA over longer time periods.
**DAO Treasuries.** Diversification of DAO treasuries into DOLA represents an excellent opportunity for increasing DOLA demand that has to-date proven challenging. Recent borrowing in the DAI DSR market suggests an alternative approach to addressing the DAO treasury opportunity.
**New business model concepts.** Other SGI’s may include formulating and analyzing longer-term business model concepts and which may require longer incubation timelines. For example, the GWG recently put forward the concept of an Inverse Federation, to address the issue of faster cross-chain expansion.
**Variable rate lending.** We will explore co-marketing opportunities with one or more variable rate lenders seeking to list DOLA. While there are no plans to implement a DOLA fed in a lending market and therefore limited current direct revenue upside, variable rate lenders can create additional awareness for DOLA on multiple chains at minimal opportunity cost for the DAO while addressing those users who prefer a variable rate loan. NB: DOLA currently is without a Chainlink oracle which historically has complicated this objective.
**Season 1 SGI objectives: GWG will put forward a minimum of two new strategic growth proposals during Season 1 and close a minimum of one DAO treasury transaction with a value of >$500K.**
**Marketing Objectives**
The GWG is also responsible for various marketing and communications functions for the DAO, with primary goals of driving awareness of DOLA, FiRM, and the INV token as well as to increase rates of trial and long-term adoption.
To improve results in awareness and trial:
**Market research.**
In Q2, the GWG engaged in 1:1 interviews with FiRM users to better understand demographics, attitudes, and impediments to adoption. Such research is time-intensive but our expansion to a new L2 in the next 180 days merits additional exploration of attitudes of L2 users in order to tune our go-to-market plans. Relatedly, the CWG recently implemented guild.xyz which along with upcoming features in Inverse Watch provide us with improved ability to sharpen our market segmentation but also improve our installed base marketing through a better understanding of existing FiRM users and INV holders and their attitudes. GWG will deliver a revised customer segmentation and targeting plan in Season 1.
**Increasing Awareness.**
Building awareness for Inverse products with a bare-metal marketing spend requires us to focus our efforts on Twitter (X) as our primary channel for reaching potential users. Where resources permit we employ visual media to improve reach and where possible coordinate with partners. We are still adjusting to changes in the Twitter algorithm and have recently moved to a new social media tool, Buffer, after our Tweetdeck access was deprecated. Where appropriate, we employ multi-day campaigns to raise awareness and anticipation for upcoming product launches. Key to our campaigns is the crafting of stories and narratives that help convey the power of FiRM.
Given the DAO’s limited marketing resources, we seek wherever possible to leverage partner awareness-raising capabilities when launching new markets or products.
The GWG will continue to create and support blog and newsletter content which today are low-traffic properties for the DAO but nonetheless - in the case of blog posts - provide useful due diligence tools for users and potential partners. In Season 1 we will experiment with more frequent newsletter distribution using a “light” content model using Twitter content.
**Increasing Trial.**
Launching FiRM on an L2 in Season 1 will provide us with the opportunity to test borrowing on a lower-cost platform, likely making FiRM more accessible to a greater number of triers. FiRM’s launch on an L2 will constitute a major campaign for the GWG during Season 1.
In 2023 we have seen instances of a new FiRM market receiving high levels of social media visibility but low rates of trial. One lever for inducing trial is the use of borrow-side incentives funded through a third party grant on an L2. FiRM’s launch on an L2 will likely coincide with our first test of borrow-side incentives, led by the GWG.
While rates of trial are impacted by DBR prices, lending capacity, and other factors driven from outside of the GWG. As DBR prices become more competitive, the GWG has multi-day or multi-week campaigns planned to encourage users of other protocols to switch to FiRM and refinance their variable rate or fixed rate loans.
**Increasing Retention.**
As part of the analysis in the market research section above, as FiRM becomes more mature and TVL grows, we will begin to measure retention rates of FiRM borrowers and begin to analyze factors that might lead users to borrow for longer time periods, at higher amounts, or factors that might lead users to switch to another lender. Working in collaboration with the Analytics Working Group, in Season 1 we can establish baseline retention metrics as well as provide basic cohort and funnel analysis.
**Other communications.**
The DAO requires ongoing communications leadership both for routine DAO communications but also during unusual events (e.g. USDC/SVB depeg) and the GWG continues to work to ensure a high level of professionalism in all our outbound communications. For Inverse this function is particularly important as in addition to the DAO’s commitment to transparency, the DAO’s bad debt adds extra importance on trust building within the community. High transparency, high impact communications are essential to strengthening the Inverse brand.
**Capital Raising**
**OTC Sales.**
As the traction of FiRM continues to build, Inverse presents an attractive opportunity for those seeking to build a large position in a cutting-edge fixed rate lending protocol with 100% of proceeds allocated to reducing bad DOLA debt. Capital raising at scale requires creation of investor presentations, pro forma financials, and other due diligence materials. GWG will close a minimum of $500K via OTC sales during Season 1 assuming an Inverse legal entity is live in 2023.
Inverse legal entity. The GWG is available to provide support to outside counsel regarding a potential legal entity for Inverse, which can assist us in a variety of activities including fiat on-ramps, CEX listings, certain market making and other partnerships, as well as OTC sales. Any legal entity formation is subject to DAO governance vote. GWG will continue to be available to provide support in the formation of an Inverse legal entity in Season 1.
**Other GWG Activities**
Fed Chair.
Like other Fed chair members, @patb is on standby 24 hours per day, seven days per week as part of the enhanced security policies put forward by our Risk Working Group.
Policy Committee.
## 5. Budget
GWG Contributors to be paid at the following rates:
| Name | FTE | Pro Rata Monthly Salary | Total For Season 1 |
| ------ | --- | ----------------------- | ------------------ |
| patb | 1 | 14,500 | 87,000 |
Ad Hoc Expenses
The GWG has 51,220 DOLA and 196 INV remaining in its multisig from its Q2 2022 budget proposal and therefore requests no additional ad hoc authorization. Our monthly ad hoc spend is typically below 1,000 DOLA and is used for expenses like subscriptions, stock video footage, or rewards for content creators who help us amplify a marketing campaign or theme via a blog post. We are prepared to offer bounties of up to 5,000 DOLA for members who help us close no-fee CEX listings.
| Expense Type | Estimated Monthly Expense | Budget Request |
| ------------ | ------------------------- | -------------- |
| Ad hoc | $1,000 | 0 |
**Budget Summary**
| Expense | Total Season 1 |
| -------- | -------------- |
| Salaries | 87,000 |
| Ad Hoc | 0 |
| Total | 87,000 |
# Growth Working Group - Season 1 Proposal
Forum link: https://forum.inverse.finance/t/growth-working-group-season-1-proposal/318
## 1. Summary
Proposal for Inverse Finance DAO to cover operations of the Growth Working Group (GWG) in Season 1, running for 6 months October 1st 2023 to March 31st 2024.
## 2. The Growth Working Group
The GWG manages a wide portfolio of responsibilities including business development, marketing, design, and capital raising. In addition, the GWG engages in day-to-day risk-related activities including serving on Fed Chair and Policy multisigs.
The GWG today consists of two contributors:
@patb joined Inverse as head of growth in 2021 and brings deep experience in enterprise and consumer software marketing, business development, product development, and operations, including previous web3 marketing & business development experience at Index Coop.
@ishita joined Inverse as a part-time visual design contributor in 2022 and moved to full-time early in 2023. She brings her experience and skills in motion graphic design to the DAO and handles all visual communication which includes visual content on social media graphics and motion graphics, short animations and videos for new product launch campaigns, logo designs, infographics, blog hero graphics, merch designs or any other visual assets that may be required.
## 3. 2022-23 Lookback
Since summer 2022, we’ve successfully re-casted the DAO’s go-to-market strategy around FiRM, where the GWG took the concept of rights-based borrowing and drafted product requirements, authored the FiRM whitepaper, developed and executed a launch strategy, created new copy and brand assets, designed a new homepage, and worked hand-in-hand with other working groups and community members to bring it all live in December 2022.
FiRM was initially slow to gain market traction. In 1:1 interviews with potential users, we learned that the freshness of the concept of borrowing rights combined with a “wait and see” attitude was largely to blame, however the addition of CRV and yield-bearing collateral helped us jumpstart borrowing and today FiRM boasts over $50MM in TVL with borrow demand currently outstripping our lending capacity. Since launching FiRM, the GWG has worked to promote new markets, spread the vision of FiRM, expanded and promoted our roster of liquidity partners, and pursued new strategic opportunities for the DAO.
It is important to note that since April 2022 the GWG has minimized discretionary spending in favor of a hyper-lean mode that emphasizes passion and perseverance through some very challenging market conditions. This spend level should continue in Season 1 and is prudent as we continue to solidfy product-market fit for FiRM and especially as we seek to preserve the DAO’s treasury during a sideways market.
Alas, not everything the GWG did over the last year went as expected. Despite best efforts, our lack of a legal entity and other factors made efforts to sell significant amounts of DBR to repay bad DOLA debt largely unsuccessful. Our market making partnership with DWF was paused pending improved reporting from them, reducing the expected bad debt repayment from their OTC buys. Also, multiple new “ve3,3” DEX partners struggled to attract meaningful TVL in 2023. We continue to try new things, move quickly, and learn from our past mistakes.
## 4. 180-Day GWG Objectives
The DAO’s 12-month objectives are outlined in this post and center on our primary north star objective of reducing bad DOLA debt, which is essential to returning greater value to INV tokenholders. The GWG directly impacts three of the four success levers mentioned in that document:
Increase product adoption
Increase product profitability; and
Raise external capital;
In support of these three levers, the GWG has identified 180-day objectives across its functional areas of responsibility - business development, marketing, design, and capital raising. Where possible, GWG deliverables are reduced to measurable objectives.
**Business Development Objectives**
To improve product adoption and product profitability, the GWG’s business development function is emphasizing two themes in Season 1:
Liquidity partnerships, and
Strategic growth initiatives;
**Liquidity Partnerships.**
Liquidity partnerships help create demand for DOLA, expand lending capacity, generate treasury ops revenue when Feds are deployed, manage the DOLA peg, and can reduce our reliance on INV for liquidity incentives. Driven in collaboration with TWG and RWG, our ability to be responsive to new opportunities on multiple chains combined with attractive incentives for DOLA LP’s is making Inverse a go-to partner for new DEX projects as well as stablecoin projects seeking a partner for co-incentivized pools. DEX partners like Velodrome have proven particularly valuable and replicating that relationship is of high-value to the DAO. Specifically, the GWG will pursue liquidity partnerships on:
**BASE.** Base represents an opportunity to grow liquidity through our close collaboration with Aerodrome (Velodrome) but also through other emerging DEX partners. We expect Base TVL to grow dramatically over the next 12-24 months as Coinbase onboards more of their CEX users to Base. Season 1 objective: close a minimum of two new DEX partnerships on Base.
**Other L2 Chains.** New liquidity partnerships on Arbitrum, Polygon, opBNB, and potentially other emerging L2’s represent liquidity opportunities for the DAO as DEX partners often provide incentives at no cost to Inverse. Season 1 objective: close a minimum of two new DEX partnerships on other L2 chains.
**CEX.** Our policy of paying zero fees for CEX listings has limited our roster of new CEX partners, however we remain in discussions with a top tier exchange that if green-lighted would justify a governance vote on a listing fee. Season 1 objective: close a minimum of one new CEX partner.
**Grants.** Multiple L2’s have existing or planned grants programs to attract new deployments to their chains. We are currently focusing on an OP grant pending FiRM deployment on OP mainnet but exploring others for Arbitrum, Base, and potentially opBNB. Additionally, application-layer protocols provide an additional avenue for grant opportunities.** Season 1 objective: close a minimum of one grant worth > $100K.
**Fiat On-Ramp.** Due to a lack of legal entity Inverse has been without a dedicated fiat on/off ramp to FiRM. The addition of a legal entity facilitates this. Season 1 objective: close a minimum of one fiat on-ramp partner, assuming we have a legal entity during Season 1.
**Other Partnerships.** While not directly driving liquidity, DOLA farming opportunities promoted by yield aggregators like Beefy drive demand for DOLA. As our presence on new chains expands, we will engage more YA’s, bringing an expanding array of options for DOLA farmers. Season 1 objective: close a minimum of two new yield aggregator partners.
**Strategic Growth Initiatives.**
Strategic growth initiatives (SGI’s) represent partner-driven new product, distribution, or business model opportunities designed to catapult Inverse forward in our industry. SGI’s are ideally partner-driven and leverage partner ecosystems or installed bases, where the GWG provides leadership in drafting requirements documents, business model analysis, proposal development, or in the case of DAO treasuries, outbound business development.
**DOLA “Sinks.”** A high priority for the DAO is the creation of organic and ideally un-incentivized demand for DOLA. For example, we are informally exploring concepts for new DOLA “sinks” or vaults in collaboration with partners, to encourage users to hold DOLA over longer time periods.
**DAO Treasuries.** Diversification of DAO treasuries into DOLA represents an excellent opportunity for increasing DOLA demand that has to-date proven challenging. Recent borrowing in the DAI DSR market suggests an alternative approach to addressing the DAO treasury opportunity.
**New business model concepts.** Other SGI’s may include formulating and analyzing longer-term business model concepts and which may require longer incubation timelines. For example, the GWG recently put forward the concept of an Inverse Federation, to address the issue of faster cross-chain expansion.
**Variable rate lending.** We will explore co-marketing opportunities with one or more variable rate lenders seeking to list DOLA. While there are no plans to implement a DOLA fed in a lending market and therefore limited current direct revenue upside, variable rate lenders can create additional awareness for DOLA on multiple chains at minimal opportunity cost for the DAO while addressing those users who prefer a variable rate loan. NB: DOLA currently is without a Chainlink oracle which historically has complicated this objective.
**Season 1 SGI objectives: GWG will put forward a minimum of two new strategic growth proposals during Season 1 and close a minimum of one DAO treasury transaction with a value of >$500K.**
**Marketing Objectives**
The GWG is also responsible for various marketing and communications functions for the DAO, with primary goals of driving awareness of DOLA, FiRM, and the INV token as well as to increase rates of trial and long-term adoption.
To improve results in awareness and trial:
**Market research.**
In Q2, the GWG engaged in 1:1 interviews with FiRM users to better understand demographics, attitudes, and impediments to adoption. Such research is time-intensive but our expansion to a new L2 in the next 180 days merits additional exploration of attitudes of L2 users in order to tune our go-to-market plans. Relatedly, the CWG recently implemented guild.xyz which along with upcoming features in Inverse Watch provide us with improved ability to sharpen our market segmentation but also improve our installed base marketing through a better understanding of existing FiRM users and INV holders and their attitudes. GWG will deliver a revised customer segmentation and targeting plan in Season 1.
**Increasing Awareness.**
Building awareness for Inverse products with a bare-metal marketing spend requires us to focus our efforts on Twitter (X) as our primary channel for reaching potential users. We employ visual media to improve reach and where possible coordinate with partners. We are still adjusting to changes in the Twitter algorithm and have recently moved to a new social media tool, Buffer, after our Tweetdeck access was deprecated. Where appropriate, we employ multi-day campaigns to raise awareness and anticipation for upcoming product launches. Key to our campaigns is the crafting of stories and narratives that help convey the power of FiRM. With the recent enablement of Twitter spaces in our Inverse Finance twitter account, we can reliably add events (e.g. AMA’s, product launches, etc.) to our awareness raising and partner co-marketing efforts.
Given the DAO’s limited marketing resources, we seek wherever possible to leverage partner awareness-raising capabilities when launching new markets or products.
The GWG will continue to create and support blog and newsletter content which today are low-traffic properties for the DAO but nonetheless - in the case of blog posts - provide useful due diligence tools for users and potential partners. In Season 1 we will experiment with more frequent newsletter distribution using a “light” content model using Twitter content.
**Increasing Trial.**
Launching FiRM on an L2 in Season 1 will provide us with the opportunity to test borrowing on a lower-cost platform, likely making FiRM more accessible to a greater number of triers. FiRM’s launch on an L2 will constitute a major campaign for the GWG during Season 1.
In 2023 we have seen instances of a new FiRM market receiving high levels of social media visibility but low rates of trial. One lever for inducing trial is the use of borrow-side incentives funded through a third party grant on an L2. FiRM’s launch on an L2 will likely coincide with our first test of borrow-side incentives, led by the GWG.
While rates of trial are impacted by DBR prices, lending capacity, and other factors driven from outside of the GWG. As DBR prices become more competitive, the GWG has multi-day or multi-week campaigns planned to encourage users of other protocols to switch to FiRM and refinance their variable rate or fixed rate loans.
**Increasing Retention.**
As part of the analysis in the market research section above, as FiRM becomes more mature and TVL grows, we will begin to measure retention rates of FiRM borrowers and begin to analyze factors that might lead users to borrow for longer time periods, at higher amounts, or factors that might lead users to switch to another lender. Working in collaboration with the Analytics Working Group, in Season 1 we can establish baseline retention metrics as well as provide basic cohort and funnel analysis.
**Other communications.**
The DAO requires ongoing communications leadership both for routine DAO communications but also during unusual events (e.g. USDC/SVB depeg) and the GWG continues to work to ensure a high level of professionalism in all our outbound communications. For Inverse this function is particularly important as in addition to the DAO’s commitment to transparency, the DAO’s bad debt adds extra importance on trust building within the community. High transparency, high impact communications are essential to strengthening the Inverse brand.
**Design**
The DAO has a steady demand for design assets to support marketing, business development, community, and other working group efforts, but principally design supports our goals of building awareness and trial for Inverse products, all while ensuring consistency with our brand themes and guidelines. The design function, led by @ishita, has formalized its project pipeline process while showing flexibility in responding to urgent, short-term design requests. Key areas of engagement for the GWG’s design function includes:
**Social media assets.** Inverse social media posts that include engaging visual content perform significantly better on average than basic text messages or messages with static images. We create custom gifs and animations that feature partners, new Inverse products, and other attributes designed to maximize visibility and typically integrate carefully selected stock audio that results in a highly professional and motivating presentation for partners and users.
**Educational assets.** Over the past year the GWG has supported the creation of detailed how-to or “explainer” videos designed to help users better understand the concept of rights-based borrowing. GWG will deliver a new explainer video targeting L2 users during Season 1.
**Miscellaneous design assets.** Blog post hero images, newsletter images, special event images, new logo designs, and merch designs are some of the miscellaneous design requests the GWG receives. We will continue to support such requests where possible.
**Capital Raising**
**OTC Sales.**
As the traction of FiRM continues to build, Inverse presents an attractive opportunity for those seeking to build a large position in a cutting-edge fixed rate lending protocol with 100% of proceeds allocated to reducing bad DOLA debt. Capital raising at scale requires creation of investor presentations, pro forma financials, and other due diligence materials. GWG will close a minimum of $500K via OTC sales during Season 1 assuming an Inverse legal entity is live in 2023.
Inverse legal entity. The GWG is available to provide support to outside counsel regarding a potential legal entity for Inverse, which can assist us in a variety of activities including fiat on-ramps, CEX listings, certain market making and other partnerships, as well as OTC sales. Any legal entity formation is subject to DAO governance vote. GWG will continue to be available to provide support in the formation of an Inverse legal entity in Season 1.
**Other GWG Activities**
Fed Chair.
Like other Fed chair members, @patb is on standby 24 hours per day, seven days per week as part of the enhanced security policies put forward by our Risk Working Group.
Policy Committee.
## 5. Budget
GWG Contributors to be paid at the following rates:
| Name | FTE | Pro Rata Monthly Salary | Total For Season 1 |
| ------ | --- | ----------------------- | ------------------ |
| patb | 1 | 13,800 | 82,800 |
| ishita | 0.5 | 3,750 | 22,500 |
Ad Hoc Expenses
The GWG has 51,220 DOLA and 196 INV remaining in its multisig from its Q2 2022 budget proposal and therefore requests no additional ad hoc authorization. Our monthly ad hoc spend is typically below 1,000 DOLA and is used for expenses like subscriptions, stock video footage, or rewards for content creators who help us amplify a marketing campaign or theme via a blog post. We are prepared to offer bounties of up to 5,000 DOLA for members who help us close no-fee CEX listings.
| Expense Type | Estimated Monthly Expense | Budget Request |
| ------------ | ------------------------- | -------------- |
| Ad hoc | $1,000 | 0 |
**Budget Summary**
| Expense | Total Season 1 |
| -------- | -------------- |
| Salaries | 105,300 |
| Ad Hoc | 0 |
| Total | 105,300 |
# Authorize OTC DBR Sales To Repay DOLA Bad Debt
Forum post: https://forum.inverse.finance/t/proposal-to-authorize-otc-dbr-sales-to-repay-dola-bad-debt/258/8
*Summary*
Sell DBR tokens to OTC buyers at discount with 100% of proceeds dedicated to reducing outstanding DOLA bad debt.
*General Background*
Current DOLA bad debt is approximately $9.42MM and since June 2022 we have repaid $1,372,115 including funds received from OTC sales with DWF Labs and other entities. DOLA bad debt has a direct impact on our ability to scale DOLA lending on FiRM and removing DOLA bad debt is a top priority for the DAO.
We are in discussions with users of FiRM and potentially others who may have interest in helping the DAO reduce its DOLA bad debt through OTC sales of DBR’s. While discussions are preliminary, the purpose of this proposal is to authorize the TWG to mint new DBR’s in order to transact without delay when opportunities arise.
*Proposal*
We propose enabling the TWG to sell DBR’s to whitelisted buyers at a 15% discount, with the selling price calculated by using the 30-day DBR TWAP price available on Coingecko and subtracting 15% from the TWAP price. We propose setting a minimum selling price of $0.05 regardless of TWAP price.
A minimum purchase of $100,000 per transaction is required to qualify for the discounted DBR sale and to make the opportunity maximally attractive, there is no vesting period for purchased DBR’s. The DAO will entrust signers on the TWG multisig to research interested counterparties to confirm their plans are aligned with the long term vision of FiRM.
The proposal therefore requests an initial authorization of 26,000,000 additional DBR’s for the TWG for this purpose, with an approximate value today of $2MM, with additional authorizations expected as this initial authorization is exhausted.
Additionally, OTC DBR sales conducted within this agreement will be included in future transparency page(s) on inverse.finance
*Benefits for Inverse*
Opportunity for material reductions in DOLA bad debt, resulting in greater FiRM lending capacity, greater rewards to INV stakers via DBR streaming, and improved DOLA peg defense
Reduced upwards pressure on DBR price from whales acquiring DBR’s on DEX’s where liquidity may be thin
Reduced DBR price volatility
*On-Chain Actions*
- Mint 26,000,000 DBR to Treasury
- Grant TWG allowance of 26,000,000 DBR
# Add Curve FiRM Market
Forum link: https://forum.inverse.finance/t/lets-add-crv-as-collateral-to-firm/208
Summary
Add CRV as collateral option on FiRM, setting collateral factor to 75% and an initial daily borrow limit of $250,000.
#Business Rationale
CRV currently has nearly $700 million in market capitalization and daily trading volumes averaging approximately $100 million and it is Curve DAO’s governance token. Curve is best known for its low-slippage stablecoin AMM, and for the CRV vote-locking which has spawned a parallel industry of “vote escrow” governance token projects like Convex, Aura, Velodrome, and others. Inverse has participated actively in CRV’s vote-locking since Q2 2022, voting and “bribing” others to vote to have Curve DAO supply CRV incentives to DOLA liquidity pools. While a large portion of CRV tokens are vote escrowed (locked) for a 1-4 year period in a non-ERC-20 token called veCRV, large amounts of CRV (over 50% as of July 2022) are circulating and can be made more productive as loan collateral.
FiRM was launched in guarded mode in mid-December 2022 with WETH as the initial market and we have since added stETH and gOHM as collateral. We are gradually lifting borrow caps and raising collateral factors to increase the availability of collateral options which meet both user preferences as well as the DAO’s risk profile. The success of FiRM depends on finding product market fit and appeal to a wider set of users by expanding collateral options…
Current CRV lending markets on Ethereum mainnet include Fraxlend, where users may borrow Frax at variable rates currently in excess of 10%, and Aave v2 who maintains over $110MM in CRV TVL though new borrowing is deprecated. A proposal is live in Aave’s governance to bring CRV to Aave v3, however, we believe that at least one early stage fixed and variable lending protocol on mainnet is planning to announce CRV as collateral in the near future.
The initial value proposition for CRV on FiRM emphasizes a lower cost, fixed rate alternative to the premium priced, variable rate DeFi lending now available elsewhere. While this differs from FiRM’s core value proposition targeting long-term borrowers, the competitive price of DBR combined with the need to attract new borrowers to FiRM provides an entry point for borrowers with shorter-term use cases.
As governance voting only is possible with locked CRV (veCRV) tokens, FiRM’s unique vote delegation feature will not be available with this collateral.
#Risk Working Group Assessment
The due diligence conducted by Inverse Finance’s Risk Working Group on CRV has determined that CRV is a suitable collateral for FiRM. The CRV token has demonstrated a strong track record of stability and has the necessary infrastructure in place to support its use as collateral on the platform.
The CRV token has demonstrated a strong track record of generating interest from other protocols (see: Curve Wars) and Curve DAO has the necessary infrastructure in place to support its use as collateral. We can safely assume that the Curve team has a clear understanding of the lending market landscape and has implemented appropriate risk management measures to ensure the safety and security of user funds. Their Bug Bounty program is somewhat lacking compared to peers in the space with similar TVL, with only a maximum payout of $250k and unclear amounts of total available rewards.
The Risk Working Group has evaluated CRV technical and economic characteristics and has determined that it possesses the necessary attributes to be used as collateral on the FiRM platform. The token is liquid and it is paired with other reliable tokens (mainly wETH on mainnet) in deep liquidity pools on several chains (Ethereum, Arbitrum, Fantom, Polygon), thus addressing most SPOFs. CRV also has an elegant oracle solution, making use of a Chainlink oracle for both CRV/USD and CRV/ETH feeds.
Naked CRV is subject to strong dilution from emissions. This hasn’t stopped over $110M in CRV to be deposited as collateral on Aave. Given FiRM’s target audience and “long-term” horizon, a liquid wrapper such as yCRV might make a more appropriate collateral option. However it must be stated that heavy CRV emissions pose a long-term feasibility issue for CRV or any liquid wrapper on FiRM. Emissions have historically been greater than rewards for veCRV holders, which would imply “down only” price action for CRV in the long term. This all can change with the launch of Curve’ own stablecoin, crvUSD. The launch is imminent but the rate of adoption and value-add to veCRV remains to be seen.
Overall, the Risk Working Group is satisfied with the findings of this due diligence report and is confident in the ability of CRV to serve as a reliable collateral on the FiRM platform. The Risk Team recommends we also consider liquid wrappers for alternate collaterals. While liquidity for these are thin, this might soon change and eventually qualify them as suitable options.
CRV is presently an available collateral asset on Aave’s Ethereum v2 market, CF is set at 52%, and TVL is $106M. CRV also recently launched in isolation mode only on Aave's Ethereum v3, with CF set to 55%, a max total supply of $62.5M and a debt ceiling of $20.9M. In both of these markets, CRV is borrowable as well as being used as a collateral asset. A more relatable comparison is the one where CRV can only be used as collateral. The CRV market on Fraxlend has CF 75%, with $21M in active borrows and a utilization rate of 66%. Based on these findings, the Risk Working Group recommends CRV be made available as collateral on FiRM with an initial Collateral Factor (CF) of 75%, a daily borrow limit of $250,000, and an initial market ceiling at $1,000,000.
On-Chain Actions:
Add CRV Market to DBR contract
Set Borrow Controller for CRV Market
Set Feed in Oracle
Set liquidation factor for market at 75%
Set Fed market ceiling for market at 1,000,000$
Set global supply ceiling to 3,000,000$
Set daily borrow limit for market at 250,000$
Set collateral factor for market to 75%
Oracle:
0xCd627aA160A6fA45Eb793D19Ef54f5062F20f33f
# Authorize Full-Time Compensation For Ishita
Forum Link: https://forum.inverse.finance/t/proposal-to-authorize-full-time-compensation-for-ishita/200
I am posting this for @ishita as she does not have posting rights on GovMills.
I have been working with Ishita nearly one year and she has been a hard-working, responsive, and creative designer for the DAO and the Growth Working Group. She joined us on a part-time basis and in recent months her workload with the FiRM launch and other initiatives like explainer videos has increased her workload well beyond 20 hours per week. I recommend Ishita be put on payroll on a full-time basis for the DAO, doubling her current part-time compensation from 3,450 DOLA to 6,900 DOLA per month.
From Ishita:
"I’d like to express my interest in converting to a full time position as the Visual Designer in the Growth Working Group here at Inverse Finance. I joined Inverse in May 2022 as a part-time contributor and n the past 10 months I’ve assumed a lot of new responsibilities and along the way, I’ve also learned many new skills and knowledge that can be an asset to the DAO. Since the launch of FiRM, I have created a series of useful content including the FiRM and the DBR logo, informative explainers with the help of Nakamomo, infographics, and a few animation projects that are currently in progress. After the FiRM launch, there has been a drastic growth in design requests in terms of magnitude, skills, and time required for each project.
My goal for 2023 is to continue building a strong and recognizable brand Identity for Inverse Finance based on the DAO’s existing brand identity work and more recent website redesign. There is growing demand (really good news!) for visual content from community, risk, and growth working groups that requires more than 20 hours per week and in November and December, it was more than 40 hours per week.
We have a great opportunity to expand our visual content output with a wide spectrum of things like:
**1. Graphics for social media and blogs.** This is what I began doing for the DAO and will continue doing this. We’ve made good progress with the launch of FiRM in solidifying our “look” to the world and the quality and quantity of images can now be increased. Most of our social media and blog design work is planned in advance, but sometimes there are urgent requests.
**2. Creating animations.** A few months ago I began creating animations in Adobe AfterEffects and our first animation was the FiRM narrative video. We can increase our output of animations now as I am getting more proficient with the app. For scripts I usually work with patb or nakamomo like the one we are currently doing for gOHM.
**3. Creating explainer videos.** We did our first explainer video for the FiRM launch and we seem to be creating a new one every 3-4 weeks.
**4. Creating infographics/web pages etc.** We also did our first infographic for the FiRM launch. This was a fun process and we came up with a nice product at the end. For new products or partnership collaborations, we can also do more infographics.
**5. Newsletter graphics.** In 2023 we can do more to improve our newsletter graphics!
**6. Other illustration, logo, icon & web design projects.** As we grow and add landing page or add special graphics to the inverse.finance app, I am available to work with @thealientourist to continue to improve the look of those assets. I also receive regular requests for icons and logos - like the DBR logo and the FiRM logo.
**7. Brand guidelines.** We are currently creating a brand identity guide for partners and media that includes a complete how-to on using Inverse logos, fonts, and other trademarks. This guide will be maintained on an ongoing basis.
**8. Creating merch design (print design,mock-ups etc).** We’ve only done a little of this at Inverse but we should try again to make cool Inverse merch!
**9. Anything else design related that the DAO needs.**
I enjoy working with our team and I plan on designing and maintaining a bold and memorable brand identity for Inverse Finance through engaging content that can help us communicate with our community in the most authentic way. For me to do this to my full potential it will require my full-time attention which is why I want to convert to a full-time contributor here at Inverse.
**Note - please change the wallet address for Ishita's payroll to 0x29A62d30A0814F28c8665977d51DFF95181085B6**
# Proposal to Launch Helper Contract (Auto-Buy DBR)
**Forum Link:** https://forum.inverse.finance/t/proposal-to-launch-helper-contract-auto-buy-dbr/191
This proposal aims to introduce a helper contract meant to assist FiRM users in buying DBR and selling DBR as a part of the borrowing and repayment transactions, and thus foregoing the need to procure DBR via any external website.
**Summary:**
FIRM, the new fixed rate lending market from Inverse Finance, makes use of a new DeFi primitive, DBR, to forego traditional interest rates.There is no interest rate for borrowing DOLA in FiRM. FiRM uses the DBR token to let you lock in a fixed rate.
A FiRM user simply holds DBR in their wallet to service the loan and the DBR balance will decay over time - in proportion to the size of their loan.
DBR must be present in a user’s wallet prior to borrowing DOLA on FiRM. Previously, this required one to purchase DBR on Balancer and/or Uniswap before attempting to open a position, but, assuming this proposal passes, the introduction of the helper contract will allow for the cost of a DBR purchase when taking out a loan to be added to your DOLA debt. The FiRM helper contract is designed to assist users in buying DBR as a part of the borrowing transaction, and will require a one-time transaction approval along with a signature.
The helper contract also allows users to withdraw collateral and sell their DBR in a single transaction when repaying their debt.
Finally, the helper function also contains methods to allow users to interact with FiRM WETH markets, without needing to convert their native Eth first.
**On-Chain Actions:**
* Borrow Controller: Whitelist Helper contract address to allow it to interact with FiRM markets.
# Redeploy DWF Labs OTC Contract with Updated Parameters
**Summary**
As disclosed in [Proposal 84](https://www.inverse.finance/governance/proposals/mills/84), an agreement with DWF labs to OTC swap 1,000,000 USDC for INV tokens at a 15% discount is underway. DWF Labs has informed Inverse DAO that they wish to make the following changes to the existing OTC contract before initiating their commitment:
* Inverse will still use on chain Balancer data for price
* Inverse will adjust price to reflect 15% discount instead of 15% bonus
* Inverse will add an additional 30 days of duration to the smart contract to 170 to account for days, if any, where CMC price might be lower than on-chain price and DWF chooses not to buy that day
**On-Chain Actions**
* Sweep old Purchaser contract of 10,000 INV tokens
* Initiate new Purchaser contract with the following parameters:
* - Start time: February 10th 00:01 2023
* - Run time: 170 days
* - Daily limit: 10k$
* - Lifetime limit: 1000k$
* - Discount: 15%
* - Min INV price: 50$
* Send 10,000 INV tokens to new Purchaser contract
* Add DWF wallet to whitelist of new Purchaser contract
# Proposal to Add DWF Labs as Market Maker for Inverse Finance
*Original forum post, Risk Working Group, and current DWF proposal here: https://forum.inverse.finance/t/proposal-to-add-dwf-labs-as-market-maker-for-inverse-finance/185*
**Summary**
Sell $1MM in INV tokens to DWF Labs at 15% discount with all proceeds dedicated to reducing outstanding DOLA bad debt.
**General Background**
Current DOLA bad debt is approximately $9.5MM which we began reducing in June 2022 while we continue to explore ways to accelerate the reduction in order to more rapidly scale DOLA lending on FiRM and on partner protocols. One mechanism for accomplishing this reduction is via strategic investors who can not only help reduce DOLA bad debt but also help us expand revenues and accrue additional value to INV holders.
One category of strategic partner that has to-date remained uncovered is market makers. Most readers of this proposal will recognize this term but for those unfamiliar, here is an overview 1. Since INV was listed on Coinbase in early 2022, volatility in the price of INV can be attributed in part to the relatively thin liquidity supporting INV on both decentralized and centralized exchanges. We recognized early on the value of a third-party market maker to help reduce volatility and also to assist us in securing new CEX listings and began discussion with two well known names in the industry. However, the April 2022 oracle price manipulation combined with other crypto market downdrafts like UST put a pause on those conversations. Note that both of those firms sought a loan of a significant number of INV tokens in order to perform INV market-making operations, in addition to other terms.
Separately, we have been approached by many low- and mid-tier CEX partners over the past year and we have resisted using DAO treasury funds to pay CEX listing fees, instead investing capital in new product development, risk management, and liquidity operations. This remains our position today.
This proposal summarizes an opportunity to partner with a relatively new market maker, DWF Labs, to both provide market-making services for INV and also to help us make a material reduction in bad DOLA debt.
**Background on DWF Labs**
- Home: https://www.dwf-labs.com/
- Crunchbase: https://www.crunchbase.com/organization/dwf-labs
- Founder interview: Andrei Grachev, Managing Partner at DWF Labs, Expounds on why they’re Choosing to Double Down on Crypto Innovations Despite the Bear Market https://bit.ly/3CEuYqs
DWF primarily focuses on market-making operations and claims a large number of clients, though they have been recently active in making taking ownership positions in individual token projects per this link on Defillama: https://defillama.com/raises/dwf-labs
**Notes:**
- $15MM pledge to the Binance Industry Recovery Initiative Blockchain Reporter on Binance Feed: DWF Labs Allocates $15M to Support Distressed Protocols Through Binance Labs’ Web3 Industry Recovery Initiative | https://www.binance.com/en/feed/post/96278
- Success in market making for TONcoin: "DWF Labs has announced that they will provide $10 million to help support the expanding TON ecosystem. In addition, there will be a total of 50 seed investments made throughout the course of the following twelve months. Each investment is made with the intention of hastening the expansion of TON and the projects it oversees." "In addition, DWF Labs plans to boost the amount of TONcoin transactions across all supporting platforms in order to attract a larger number of players in the TON ecosystem. At the moment, the daily trade volume for TONcoin might reach up to $20 million." https://bit.ly/3w2xVgN
- While DWF is a new/newer name in market making, the nature of their proposed relationship (owning INV vs borrowing) and their willingness to work with Inverse in a market where others have paused their new clients makes market making with DWF an attractive option for the DAO.
**Team**
- Team is doxxed https://www.dwf-labs.com/about
- Founder/MD formerly ran Huobi Russia, BD contact we are working with previously did BD for Okex. A reference customer we know believes their CEX credentials are good and they can be expected to show results.
- Global footprint
**Proposal**
DWF proposes a cash purchase of INV over a period of up to 140 days at a 15% discount. This is distinct from prior conversations with MM’s, including Wintermute, who proposed a loan of INV tokens for 12 months in addition to other terms. See forum post https://bit.ly/3QzZIP6 for additional details about the proposal from DWF.
**Some notes on their proposal:**
- DWF may delay some daily buys if price spikes higher
- DWF initially proposes to make CEX markets for INV on Coinbase and Gate.io.
**Proposed Changes to the DWF Proposal**
The opportunity to reduce DOLA bad debt in a material way makes this proposal especially valuable to the DAO, however in order to ensure DWF completes the $1MM commitment, we would structure the payout of the 15% discount. I.e., write an OTC smart contract that enables daily INV buys of $10K with no discount via a price oracle utilizing the INV-DOLA pool on Balancer, track the equivalent of 15% of the daily INV buy and hold it in reserve, and remit the full reserve in the contract to DWF upon successful completion of the $1MM in daily buys.
**Benefits for Inverse**
- Reduced volatility on multiple DEX’s and CEX’s due to deeper INV liquidity and ongoing market making operations
- Good likelihood of INV being added to multiple new Tier 1 and Tier 2 CEX’s. While DWF is providing no assurance of a Binance listing, they are a leading market maker on Binance Futures and participate in the Binance Industry Recovery Initiative, which we believe will be a net positive towards that objective.
- Potential for sufficiently high trading volumes that result in qualification for Chainlink oracle for INV
- $1MM reduction in DOLA bad debt
- Potential introductions to other DWF partners, investors
**Risks**
Full risk assessment provided by the Risk Working Group is here: Risk Assessment of DWF Labs - https://bit.ly/3X6k2KH
- DWF proposes to buy INV in $10K increments over a 100-day period. DWF could pause buying at any time before Day 100 and not complete its $1MM purchase commitment.
- Unlike MM’s who borrow a DAO’s governance tokens for MM ops, DWF is taking actual ownership of INV tokens and there are no provisions for Inverse Finance to reclaim those sold INV once the sale is complete. Thus there is a risk that DWF could, after realizing a sufficient profit, sell some or all of its INV inventory back into the market, thus requiring us to seek out new MM partner(s). We see reputational risk for DWF in such a move that outweighs the benefits to DWF.
- If DWF pauses its MM activities and chooses to exercise governance rights, it would become one of the largest holders of voting INV within the DAO.
**On-Chain Actions**
1. Initiate purchaser contract to go live on Sunday the 28th of January 23:59:59 GMT
With
- A run time of 140 days
- A daily buy limit of 10,000 USDC
- A life time buy limit of 1,000,000 USDC
- A bonus of 15% Inverse token per buy, compared to the Balancer market price
- A minimum price per Inverse token of 45, set in USDC terms
2. Add DWF Labs address (0xD4B69e8D62C880E9DD55d419d5E07435C3538342) to whitelist
3. Mint 10,000 INV tokens
4. Fund Purchaser contract with 10,000 Inverse Tokens
# Proposal to Add DWF Labs as Market Maker for Inverse Finance
*Original forum post, Risk Working Group, and current DWF proposal here: http://bit.ly/3QzZIP6*
**Summary**
Sell $1MM in INV tokens to DWF Labs at 15% discount with all proceeds dedicated to reducing outstanding DOLA bad debt.
**General Background**
Current DOLA bad debt is approximately $9.5MM which we began reducing in June 2022 while we continue to explore ways to accelerate the reduction in order to more rapidly scale DOLA lending on FiRM and on partner protocols. One mechanism for accomplishing this reduction is via strategic investors who can not only help reduce DOLA bad debt but also help us expand revenues and accrue additional value to INV holders.
One category of strategic partner that has to-date remained uncovered is market makers. Most readers of this proposal will recognize this term but for those unfamiliar, here is an overview 1. Since INV was listed on Coinbase in early 2022, volatility in the price of INV can be attributed in part to the relatively thin liquidity supporting INV on both decentralized and centralized exchanges. We recognized early on the value of a third-party market maker to help reduce volatility and also to assist us in securing new CEX listings and began discussion with two well known names in the industry. However, the April 2022 oracle price manipulation combined with other crypto market downdrafts like UST put a pause on those conversations. Note that both of those firms sought a loan of a significant number of INV tokens in order to perform INV market-making operations, in addition to other terms.
Separately, we have been approached by many low- and mid-tier CEX partners over the past year and we have resisted using DAO treasury funds to pay CEX listing fees, instead investing capital in new product development, risk management, and liquidity operations. This remains our position today.
This proposal summarizes an opportunity to partner with a relatively new market maker, DWF Labs, to both provide market-making services for INV and also to help us make a material reduction in bad DOLA debt.
**Background on DWF Labs**
- Home: https://www.dwf-labs.com/
- Crunchbase: https://www.crunchbase.com/organization/dwf-labs
- Founder interview: Andrei Grachev, Managing Partner at DWF Labs, Expounds on why they’re Choosing to Double Down on Crypto Innovations Despite the Bear Market https://bit.ly/3CEuYqs
DWF primarily focuses on market-making operations and claims a large number of clients, though they have been recently active in making taking ownership positions in individual token projects per this link on Defillama: https://defillama.com/raises/dwf-labs
**Notes:**
- $15MM pledge to the Binance Industry Recovery Initiative Blockchain Reporter on Binance Feed: DWF Labs Allocates $15M to Support Distressed Protocols Through Binance Labs’ Web3 Industry Recovery Initiative | https://www.binance.com/en/feed/post/96278
- Success in market making for TONcoin: "DWF Labs has announced that they will provide $10 million to help support the expanding TON ecosystem. In addition, there will be a total of 50 seed investments made throughout the course of the following twelve months. Each investment is made with the intention of hastening the expansion of TON and the projects it oversees." "In addition, DWF Labs plans to boost the amount of TONcoin transactions across all supporting platforms in order to attract a larger number of players in the TON ecosystem. At the moment, the daily trade volume for TONcoin might reach up to $20 million." https://bit.ly/3w2xVgN
- While DWF is a new/newer name in market making, the nature of their proposed relationship (owning INV vs borrowing) and their willingness to work with Inverse in a market where others have paused their new clients makes market making with DWF an attractive option for the DAO.
**Team**
- Team is doxxed https://www.dwf-labs.com/about
- Founder/MD formerly ran Huobi Russia, BD contact we are working with previously did BD for Okex. A reference customer we know believes their CEX credentials are good and they can be expected to show results.
- Global footprint
**Proposal**
DWF proposes a cash purchase of INV over a period of up to 140 days at a 15% discount. This is distinct from prior conversations with MM’s, including Wintermute, who proposed a loan of INV tokens for 12 months in addition to other terms. See forum post https://bit.ly/3QzZIP6 for additional details about the proposal from DWF.
**Some notes on their proposal:**
- DWF may delay some daily buys if price spikes higher
- DWF initially proposes to make CEX markets for INV on Coinbase and Gate.io.
**Proposed Changes to the DWF Proposal**
The opportunity to reduce DOLA bad debt in a material way makes this proposal especially valuable to the DAO, however in order to ensure DWF completes the $1MM commitment, we would structure the payout of the 15% discount. I.e., write an OTC smart contract that enables daily INV buys of $10K with no discount via a price oracle utilizing the INV-DOLA pool on Balancer, track the equivalent of 15% of the daily INV buy and hold it in reserve, and remit the full reserve in the contract to DWF upon successful completion of the $1MM in daily buys.
**Benefits for Inverse**
- Reduced volatility on multiple DEX’s and CEX’s due to deeper INV liquidity and ongoing market making operations
- Good likelihood of INV being added to multiple new Tier 1 and Tier 2 CEX’s. While DWF is providing no assurance of a Binance listing, they are a leading market maker on Binance Futures and participate in the Binance Industry Recovery Initiative, which we believe will be a net positive towards that objective.
- Potential for sufficiently high trading volumes that result in qualification for Chainlink oracle for INV
- $1MM reduction in DOLA bad debt
- Potential introductions to other DWF partners, investors
**Risks**
Full risk assessment provided by the Risk Working Group is here: Risk Assessment of DWF Labs - https://bit.ly/3X6k2KH
- DWF proposes to buy INV in $10K increments over a 100-day period. DWF could pause buying at any time before Day 100 and not complete its $1MM purchase commitment.
- Unlike MM’s who borrow a DAO’s governance tokens for MM ops, DWF is taking actual ownership of INV tokens and there are no provisions for Inverse Finance to reclaim those sold INV once the sale is complete. Thus there is a risk that DWF could, after realizing a sufficient profit, sell some or all of its INV inventory back into the market, thus requiring us to seek out new MM partner(s). We see reputational risk for DWF in such a move that outweighs the benefits to DWF.
- If DWF pauses its MM activities and chooses to exercise governance rights, it would become one of the largest holders of voting INV within the DAO.
**On-Chain Actions**
1. Initiate purchaser contract to go live on Sunday the 22nd of January 23:59:59 GMT
With
- A run time of 140 days
- A daily buy limit of 10,000 USDC
- A life time buy limit of 1,000,000 USDC
- A bonus of 15% Inverse token per buy, compared to the Balancer market price
- A minimum price per Inverse token of 20, set in DOLA terms
2. Fund Purchaser contract with 30000 Inverse Tokens
# Growth Working Group INV Allocation Request
The GWG requests 300 INV from the Inverse Finance treasury to be used for ad hoc payments to vendors who on occasion ask to be paid in INV instead of DOLA. We currently have outstanding payables of 102 INV and request an additional 198 INV for potential use in 2023.
Link to forum post: https://forum.inverse.finance/t/growth-working-group-inv-allocation-request/174
# Follow Up: Proposal to Migrate INV-DOLA Liquidity from Uniswap to Balancer
# Proposal to Reallocate INV rewards and Migrate INV-DOLA Liquidity
This is a follow on proposal from [Proposal 61](https://www.inverse.finance/governance/proposals/mills/61), with actions included to allow the migration from Uniswap v2 to Balancer, so that the DAO can earn back the majority of incentives used for INV-DOLA liquidity.
### Background
At the time of writing, the Inverse DAO is spending 970 INV per month on incentivizing INV-DOLA sushi liquidity on Frontier, this is currently earning depositors an APY of 120% from around $265k in liquidity depth. We believe that this spend is very inefficient, in large part due to Frontier not being an active product meaning very little traffic is currently passing through the website and viewing the opportunity. The TWG believes stopping incentivizing INV-DOLA SLP on Frontier and reallocating a smaller amount (less than 970 per month) to bribes on Balancer/AURA for the new INV-DOLA LP gauge will be far more effective in terms of attracting liquidity.
### Motivation
Currently, bribing vlAURA holders on Hidden Hands yields around $1.6-$2.0 in incentives per $1 spent. This means if the monthly INV spent on INV-DOLA is reduced to 800, then with this bribe efficiency the real amount of incentives directed towards INV-DOLA pool is the value of 1,280 - 1,600 INV per month. Also, as there is far more traffic on Balancer and Aura, with many users searching for yield opportunities, we believe that the APY on the pool will be significantly lower than the currently seen 120%. If we model this new APY as being 60%, and bribe efficiency as being $2 of incentives per $1 bribe, then we can expect 4x more liquidity after this reallocation of INV emissions (while saving 170 INV per month!).
The Inverse Finance DAO Treasury currently owns $450k in INV-DOLA liquidity that is currently on UniSwap V2. With this migration of rewards to Balancer, the TWG could migrate the protocols INV-DOLA liquidity to Balancer/Aura in order to farm these new rewards. This means that the monthly bribe that is directed towards the new LP is accretive to baseline, as the DAO will be clawing back a significant portion of the bribe spent in AURA and BAL rewards. Using the 800 INV per month example earlier, if the DAO’s PoL position is able to farm back the value of 600 INV per month, then the real net spend of INV is actually around 200 INV per month. This is a real net spend savings of 80%, while bringing greater depth for INV.
In order to carry out this liquidity migration, an allowance for the Uniswap V2 LP tokens needs to be granted to the TWG. This means the TWG can move the INV-DOLA liquidty from Uniswap V2 to Balancer, where the DAO will be able to claw back a large proportion of what is spent on bribes/incentivization.
https://forum.inverse.finance/t/proposal-to-reallocate-inv-rewards-and-migrate-inv-dola-liquidity/147/2
### Actions
* Set TWG INV-DOLA Uniswap LP allowance to 23,000 ($450k)
# Launch new INV oracle, re-enable xINV as collateral on Frontier
### Summary
The following is a proposal to formally endorse the new INV price feed oracle where possible/applicable. This proposal will also include re-enabling the use of xINV as collateral on Frontier.
This new solution is over a month in the making and has been a collaborative effort between several members of the DAO. The contract has thoroughly researched, scrutinized, and battle tested. At this stage, the authors are comfortable with moving this forward for DAO voting.
### On-Chain Actions
+ Update INV Oracle
+ Assign the Oracle Guardian role to the Policy Committee Multisig
+ unpause xINV market's use as collateral
_supportMarket(address)# Add New Collateral Assets to Frontier
### Summary
The following is a proposal to add fresh collateral assets to Frontier (formerly Anchor), specifically, four (4) stablecoin y-vaults including yvcrvDOLA. For gas-efficiency purposes, this post is intentionally incomplete. For a full write-up on the topic please refer to either of these two resources:
1. [Let's Add New Anchor Collateral Assets](https://docs.google.com/document/d/1vWlgRs2wzAhCciVKnL-PsLCKxxjELqPtqEpFf_ohgjU/edit?usp=sharing)
2. [GovMills Proposal: Re-Enable Anchor (1/n)](https://www.inverse.finance/governance/proposals/mills/35)
### On-Chain Actions
+ Add yvcrvDOLA as a collateral asset on Anchor.
+ Add yvUSDT as a collateral asset on Anchor.
+ Add yvUSDC as a collateral asset on Anchor.
+ Add yvDAI as a collateral asset on Anchor.
_supportMarket(address)# Re-Enable Anchor (2/n)
### Summary
The following is a proposal to add fresh collateral assets to Anchor, specifically, four (4) stablecoin y-vaults including yvcrvDOLA. For gas-efficiency purposes, this post is intentionally incomplete. For a full write-up on the topic please refer to either of these two resources:
1. [Let's Add New Anchor Collateral Assets](https://docs.google.com/document/d/1vWlgRs2wzAhCciVKnL-PsLCKxxjELqPtqEpFf_ohgjU/edit?usp=sharing)
2. [GovMills Proposal: Re-Enable Anchor (1/n)](https://www.inverse.finance/governance/proposals/mills/35)
### On-Chain Actions
+ Add yvcrvDOLA as a collateral asset on Anchor.
+ Add yvUSDT as a collateral asset on Anchor.
+ Add yvUSDC as a collateral asset on Anchor.
+ Add yvDAI as a collateral asset on Anchor.
# Proposed Make-Good For Users Affected by April 2, 2022 Price Manipulation Incident
**Summary**
Full repayment for users affected in the April 2, 2022 price manipulation incident utilizing multi-tranche revenue and debt options.
**Background**
On April 2, 2022 Inverse Finance was subject to a price manipulation incident that affected holders of WBTC, ETH, and YFI on Anchor. Core contributors within the DAO collectively agreed to work towards a framework to put before the DAO whereby users would be made-whole as quickly and prudently as possible.
The purpose of this proposal is to secure DAO approval to begin working towards a multi-proposal process to effect a make-good. This proposal also seeks approval for an initial $300,000 payment to begin addressing affected users.
**Framework**
Overview
- * -Full repayment plan for affected users in the native token affected
- * -Repayment scheduled in multiple tranches and delivered as quickly and as prudently as possible
- * -For purposes of this plan, liability incurred by Inverse currently marked at $8.8 million for planning purposes
- * -This plan is subject to governance vote
Tranche A: $300,000
- * -Initial Treasury Payment
- * -Paid on June 1, 2022.
Tranche B: Minimum Monthly Revenue Sequester ($5.4MM estimated contribution)
- * -Steady Allocation of Inverse Revenue to Debt Repayment
- * -Source of revenue: treasury and lending operations
- * -Revenue is diverted to repayment fund via dedicated sequester contract
- * -Repayment amounts subject to monthly or quarterly DAO approval
- * -Begins July 1, 2022, paid out monthly, estimated to provide $300K per month or $1.8MM in Year One and $3.6MM in Year Two
Tranche C: Retire Revenue Sequester Contract Early Via Long Term Debt
- * -In Q3/Q4 2022, Inverse will confirm the revenue flows from the dedicated revenue sequester contract and evaluate bids to sell that contract to a third party lender
- * -A lender(s) would provide Inverse with the full $5.4 million against future revenue flows from the revenue sequester contract, allowing for more rapid repayment to affected users.
- * -Multiple configurations of this long-term debt are possible.
Tranche D: Inverse-operated Liquidations ($3.1MM estimated contribution)
- * -Allows Inverse to capture revenue previously reserved for third parties on Anchor. 100% of liquidation fees will be diverted to repaying affected users until fully repaid.
- * -Liquidation fee: 12.5%
- * -Begins Aug 1, 2022
- * -Estimated to provide an average of $100,000 per month in Year 1. Revenues from liquidations estimated to exceed this significantly in Year 2.
Tranche E: Additional Treasury Ops (TBD)
- * -Allows TWG to engage, if necessary, in additional revenue generating activities to offset shortfalls from other tranches.
- * -Yield Farming
- * -Bond Sales
**Target Repayment Schedule**
- * -There is no firm repayment schedule as the DAO seeks to complete this make good as quickly as possible but wants the flexibility to accelerate or decelerate payments based on market conditions. The DAO therefore will make affected users whole as quickly and as prudently as possible while:
- * - Fiercely defending DOLA’s USD peg
- * -Ensuring continued success of our DOLA liquidity strategies on Curve and elsewhere
- * -Avoiding the abuse of INV governance tokens
At this time we do not envision a need to cap the DAO’s liability in this plan, however we will monitor the price of WBTC, ETH, and YFI and should the value of one or more of those assets rise unexpectedly and beyond our ability to reasonably generate DOLA revenues to repay those debts in a timely manner, the DAO may vote to limit the total amount of DOLA diverted towards repaying those debts.
- * -Governance Approval Required
- * -Governance may vote to adjust parameters of this plan at any time
**On-Chain Actions**
* Approve authority for TWG to transfer 300,000 from Treasury and effect an equivalent repayment in WBTC, ETH, and YFI.
**On-Chain Action Calculation:**
* TWG requires additional $300k allowance. This allowance will be split $150k from DOLA, and $150k from DOLA-3Pool
* TWG DOLA allowance: 906,330 (currently) + 150,000 = 1,056,330
* TWG DOLA-3Pool allowance: 1,100,000 (currently) + 150,000 =1,250,000
# Authorize DOLA Payroll for GWG Contributors Marshmellow, & Ishita
SUMMARY
This proposal is to provide base compensation to two new team members, Marshmellow, & Ishita.
BACKGROUND
Marshmellow joins us from Index Coop, where she was head of content operations, as our new part-time lead for content operations and is spearheading a range of initiatives for Inverse outlined here: https://tinyurl.com/2p8h5k5t
Ishita is a new part-time designer doing excellent work for us as an ad hoc contributor who we also wish to convert to regular payroll. She will be responsible for addressing our growing need for design requests like twitter graphics, blog hero graphics, POAP's, and similar design requests from across the DAO.
We are extremely happy with their performances to-date and their potential to help us reach our goal of 1 billion DOLA circulation in 2022.
ACTIONS
Allocate a total of 9,000 DOLA per month to compensate two GWG contributors: Marshmellow (6,000 DOLA per month), and Ishita (3,000 DOLA per month).
# Q2 2022 Growth Working Group Budget Request
Summary
Renew GWG Budget for additional 90 day period. Please view forum proposal here: https://tinyurl.com/2vuntm8y which includes more detailed background.
Proposal
I propose we extend the Growth Working Group’s charter for an additional 90 days with several noteworthy changes.
Budget
I propose an authorization of 114,000 DOLA for the non-payroll portion of this proposal for the time period of April-June 2022. The 17,870 leftover from Q1 remains in the DAO treasury. Payroll compensation for new team members (not ad hoc) will be handled on a case-by-case basis and approved via governance or the TWG.
Specific non-payroll budget items are outlined here:
| Item | Description | April | May | June | Total |
| --------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------ | ------- | ------ |
| Business Development | | | | | |
| Deal Bounties/Ad Hoc Rewards/Protocol Ambassador Bounties | One-time bounties for especially significant deals that a protocol ambassador or other INV DAO member helps us identify and, in some cases, help us close | 5,000 | 5,000 | 5,000 | 15,000 |
| | | | | | |
| Marketing | | | | | |
| Brand Consulting | Narrative/brand work (Q1 deliverable to be paid) | 15,000 | 0 | 0 | 15,000 |
| Written Content Ad Hoc Rewards | Ad hoc rewards for written content including blog posts, twitter threads, newsletters, etc. | 2,500 | 7,500 | 10,000 | 20,000 |
| Foreign Language Written Content Ad Hoc Rewards | Test of language ops - Chinese, French written & video content | 1,000 | 2,000 | 3,000 | 6,000 |
| Design & Multimedia Content Ad Hoc Rewards | Animation, Video, Infographics, Other Graphics, POAP designs | 5,000 | 5,000 | 7,500 | 17,500 |
| Web design | Landing page redesign, other UI/UX consulting. | | 10,000 | | 10,000 |
| Impression Mining Rewards | Twitter, YouTube impression mining bounties | 1,000 | 7,500 | 10,000 | 18,500 |
| GWG Project Mgmt | Part-time resource to manage GWG syncs & Jira tasks | 1,000 | 1,000 | 1,000 | 3,000 |
| Miscellaneous | Content Mgmt System, Jira, Discourse, Hype Fury Social Media Mgmt, Seshbot, Contest Awards, partner merch gifts, gas fees | 3,000 | 3,000 | 3,000 | 9,000 |
| | | | | | |
| | | | Total (DOLA) | 114,000 | |
Since the GWG budget requests a budget authorization that is then subject to a multisig requesting allocations on (usually) a monthly basis from that authorization, funds authorized but unused at the end of the period remain in the Treasury, as occurred with the first quarterly GWG budget.
# Reduce INV Rewards for WBTC, ETH, YFI, xSUSHI, INV-DOLA SLP, and FLOKI. Modify Certain Other Features of Anchor
Background
In light of the INV price manipulation incident that occurred on April 2, 2022, we propose reducing certain INV rewards on Anchor in order to redirect them boosting DOLA DEX liquidity. Specifically, we propose reducing INV rewards for WBTC, ETH, YFI, xSUSHI, and FLOKI to zero. We also proposed reducing the current rewards rate for INV/DOLA SLP tokens from 729 per month to 500 month since we now control over 50% of the pool via our PoL strategy with Olympus Pro.
Also, the collateral factor for DOLA today is set at 70% and similar to other stablecoin CF’s in the marketplace today, this proposal would raise this to 85%.
Finally, there is a need to add a new section to Anchor for assets which the DAO votes to deprecate. While there are currently more than $6MM in FLOKI assets on Anchor, there is no valid Chainlink oracle for the new FLOKI contract and we recommend FLOKI be moved to this new “Deprecated” section until the DAO votes to enable deposits and borrows against a new FLOKI asset with accompanying Chainlink oracle.
On-Chain Actions:
Reduce INV rewards on WBTC, ETH, YFI, xSUSHI, and FLOKI to zero.
Reduce INV rewards on INV/DOLA SLP to 500 per month.
Raise DOLA collateral factor to 85%
Move FLOKI to new Deprecated Assets section on Anchor
# Proposal to Whitelist DOLA Fed for Rari Fuse Pool 24 “Harvest FARMstead”
Submitted by: PatB
Proposal to Whitelist DOLA Fed for Rari Fuse Pool 24 “Harvest FARMstead”
Summary
Inverse Finance has an additional opportunity to expand our alliance with Harvest Finance to add DOLA lending to Fuse Pool 24 as well as to allow DOLA holders to supply DOLA to the same pool to earn yield.
Background
Inverse is working with Harvest Finance about collaboration around their Rari Fuse Pool 24 “Harvest FARMstead”.
“Harvest is a yield aggregator with operations primarily based on Ethereum. Harvest saves users time and money by finding and vetting farming opportunities, batching transactions, and automatically compounding returns on over $300mm in deposits across a wide range of assets. Fees from vault profits are shared with FARM holders who deposit into the iFARM profitsharing vault. Learn more at https://harvest.finance”
Today, stablecoin borrowing options on Fuse Pool 24 include FEI, FRAX, UST, BUSD, DAI, and USDC while collateral/supply options include those plus iFARM, FARM, WSTETH, IDLE, RGT, and FARM-WETH. Collateral factors for all collateral range from 50% to 65%.
Admin Contract: 0xF49440C1F012d041802b25A73e5B0B9166a75c02 (?)
LIquidation Incentive: 12%
Risk analysis here: https://tinyurl.com/mseayfrh
Market contract for on-chain action here: https://tinyurl.com/3t3wx64d
Proposal
Whitelist DOLA Fed contract for Fuse Pool 24 as a DOLA minter
# FODL Finance: DOLA Fed for Rari Fuse Pool 127 - 0xB1's Kitchen Sink
Summary
Inverse Finance has an opportunity with FODL Finance to add DOLA lending to Fuse Pool 127 as well as to allow DOLA holders to supply DOLA to the same pool to earn yield.
Background
Inverse is in discussions with FODL Finance about a collaboration around their Rari Fuse Pool 127 “0xB1 Kitchen Sink.” Today, stablecoin borrowing options on Fuse Pool 127 include FRAX, USTw, DAI, USDT, and USDC, while collateral/supply options include those plus gOHM, ETH, FODL, VRN, KIRO, DOP, sSPELL, SOCKS, BIT, YAXIS, xSUSHI, DOP, and APE.
Assessment from Inverse risk team: Support a move to supply DOLA to the pool, but suggest caution. VRN pool stats would have to be monitored periodically before DOLA Fed injects more capital. Full proposal on Forum including links to risk analysis: https://forum.inverse.finance/t/proposal-to-whitelist-dola-fed-for-rari-fuse-pool-127/33/4
Given relatively low amounts of stablecoin liquidity in this pool and the supply of smaller / more high volatility tokens, a gradual approach to providing liquidity to this pool is recommended as we observe volatility and overall profitability of this pool.
Proposal
Whitelist DOLA Fed contract for Fuse Pool 127 as a DOLA minter
# BadgerDAO: DOLA Fed for Rari Fuse Pool 22
Summary
Inverse Finance has an opportunity with Badger DAO to add DOLA lending to Fuse Pool 22 as well as to allow DOLA holders to supply DOLA to the same pool to earn yield.
Background
Inverse is working with Badger DAO about collaboration around their Rari Fuse Pool 22 “Badger Pool”.
“Badger is a decentralized autonomous organization (DAO) focused on building the products and infrastructure necessary to accelerate the growth of Bitcoin in Decentralized Finance (DeFi) across multiple blockchains.
Specifically, it is an ecosystem where projects and people from across all DeFi can come together to collaborate and build different products. Shared ownership in the DAO incentivizes builders to have aligned objectives. Whilst decentralized governance ensures that those incentives remain fair to all parties and that the projects pursued are determined by the community.”
Today, stablecoin borrowing options on Fuse Pool 22 include USDC, FEI, and DAI while collateral/supply options include those plus BADGER, DIGG, and ibBTC.
Collateral factors for all collateral range from 50% to 65%.
Admin Contract: 0xB65cef03b9B89f99517643226d76e286ee999e77
Liquidation Incentive: 15%
More on BadgerDAO here https://app.badger.com/
Link to Inverse DAO Forum post including due diligence report from Inverse Risk Mgmt team: https://tinyurl.com/3utuwk23
Proposal
Whitelist DOLA Fed contract for Fuse Pool 22 as a DOLA minter
# Launch An Analytics Working Group and Fund Certain Analytics Costs
**Author(s)**
@naoufel
**Summary**
Launch of an experimental Analytics Working Group (AWG) within the DAO to support our growth, define further and execute the Data Strategy as proposed below by @naoufel .
**Background**
Inverse has now entered a phase of rapid growth and is expanding its activities in several areas. In order to sustain this growth, Inverse DAO committees and WG members (Growth, Marketing, Treasury…) need to rely on accurate, fit-to-need data, as well as user-friendly analytical systems to operate at full efficiency.
**Objectives**
The analytics department would brand itself as a customer-oriented area, in charge of providing the data and tools critical to Inverse different business areas operations and to ensure its transparency. The objective of this WG will be to define further and develop Inverse DAO Data Strategy.
**State-of-play**
As it stands there are no protocol data sources and DAO members or third parties have to rely on external data providers (Etherscan, Dune) where the data is not fully available, extractable and the reports not customizable.
On the other hand, we do not have unified tools to measure our influence on social media and adapt our strategy or communication accordingly.
**Moving Forward**
After comparing the solutions available on the market this proposal offers to investigate further and develop the possibility of using Google Data Studio combined with The Graph to ensure our systems rely on powerful and decentralized infrastructures (a mock-up version is available here : https://datastudio.google.com/reporting/cb58a483-78a0-4f08-9625-25ea42a2bd12 or https://inverse.finance/analytics/ ).
The Graph would provide the infrastructure for a decentralized indexing solution and would allow us to make our data available through a GraphQL API. This latter element is critical in incentivizing other protocols to integrate us by providing them with an in-house and easy to use data source. At the same time it will provide a robust distributed framework to prevent data outages from infura or other data providers. Google Data Studio would provide us with a powerful Data engine (Google BigQuery) combined with customization and web integration capabilities never seen anywhere else in the data industry allowing us to share and organize our data at once.
On the Public Relation and Marketing side many social media (Google Analytics, Twitter, Linkedin…) already provide APIs or direct integration solutions that are accessible by Google Data Studio and could be integrated seamlessly together with on-chain metrics.
Dune Analytics is to remain a DAO tool for our analytics due to its flexibility, but should be used rather on ad-hoc requests or urgent and specific data needs (as for Risk Management) than on periodical reporting. It should not be reflected anymore in official communications.
**Responsibilities & Tasks**
- Follow up with the development of the current subgraph developed by Compound and forked by @naoufel, integrate financial reporting into a new interface,
- Integrate social media data to the DAO strategy and make it available into a new interface,
- Assist DAO members in periodical reporting efforts, answer ad-hoc data requests,
- Continuously follow up with others DAO areas activities, improve current and develop new fit-to-need metrics and solutions,
- Research data and deliver insights.
**Members**
@naoufel, @karm , DAO members interested in contributing can get in contact directly.
**Budget & Execution**
The budget for this proposal is 17,340 DOLA broken down as follows :
- 2,340 DOLA to compensate @naoufel in order to account for the Dune premium passed costs (390 $ / month x 6 months of which 4 are already incurred)
- 5,000 DOLA to market buy around 10,000 GRT tokens, 50 to 75% of this amount would be dedicated to ‘signaling’ The Graph and influence on-chain indexing politics.
The remainder of this amount would be used as a first batch to pay for the query fees as well as provide our users with an API key to query on this subgraph, allowing us to promote full transparency to other protocols and users. Besides, this amount invested would be withdrawable and can constitute a DAO investment onto The Graph infrastructure.
*Context :* the current amount of 1,000 GRT signaling the graph has been provided by @naoufel when initiating the subgraph but is not important enough to get the data indexed widely. Some outages occurred when testing and we had to directly contact some indexers to get the data online. This can not happen when in production.
- 5,000 DOLA (2,500 $ / 3 weeks x 2) to temporarily recruit @mayurch in order to get the subgraph updated and running in a short amount of time. The estimated schedule would be a 2-3 weeks development sprint followed/intertwined with a 2-3 weeks testing, query building and analytics design where @naoufel would also play a part (advise, testing, query and analytics page building). This amount is requested twice in case we need to lock @Mayurch again in the short time frame due to increasing requirements.
*Context :* The Graph uses GraphQL, which is not a database language but rather client-to-middleware language. This means we do need a developer comfortable with not only TypeScript to build schemas, but also with the Graph infrastructure to help us ensure a good basis to a long term data source while minimizing updates and bugs.
- 5,000 DOLA in order to compensate spontaneously DAO members contributing to the task of the Analytics working group
- Any unspent budget (INV/DOLA /ETH) will be returned to the Inverse Treasury.
This proposal is meant to be a 90-day experiment for the AWG, with regular updates to the DAO on our progress and, if we are successful in meeting our objectives, will post a follow-on proposal as we approach the 90 day mark.
ACTIONS :
DOLA approve funding 15,000 to 0xFDa9365E2CDf21d72cb0dc4F5FF46F29e4aC59CE from Rewards committee or future Treasury working group.
DOLA send 2340 to 0xFDa9365E2CDf21d72cb0dc4F5FF46F29e4aC59CE from Rewards committee or future Treasury working group.