# Make INV finally transferable.
Make DAO great again!

# Make INV finally transferable.

# Make all INV tokens transferrable
At this time, Inverse DAO is not a full DAO, it is some kind of "DAO for the elite" imho, so i am submitting a proposal to unlock INV tokens so make them transferrable/tradable, so anybody can buy and become part of DAO.

If this proposal passes, INV tokens will also no longer be seizable by the DAO.

# Make all INV tokens transferrable

# Distribute non-transferrable INV rewards for DOLA-ETH Uniswap Pool LPs
This proposal will incentivize liquidity providers for participating in the DOLA-ETH Uniswap Pool (https://info.uniswap.org/pair/0xecfbe9b182f6477a93065c1c11271232147838e5). The reward period is 2 weeks long and a total of 1250 INV (non-transferrable) will be distributed to liquidity providers.

# Distribute non-transferrable INV rewards for DOLA-ETH Uniswap Pool LPs

# 1st Soul Harvest: Seize unclaimed INV
Remove the INV distributor contract from the trading whitelist, effectively seizing the remaining unclaimed INV tokens (currently about 20k).

Burning these tokens from the supply must be done in a future vote using the seize() function, because the amount of remaining tokens must be fixed before (which will be the case if this vote passes).

# 1st Soul Harvest: Seize unclaimed INV

# Seize INV from Inactive Addresses (2 of 2) 
PROPOSAL 

Seize the INV tokens of fully inactive addresses and transfer them to the DAO for later use.

DESCRIPTION 

Active addresses (or members) are defined by having participated to the DAO in at least one of the following ways :

1. Delegated votes to an address including their own address
2. Voted a minimum of one time (either on-chain or on the two snapshots preceding this proposal [2])
3. Deposited in any of the Inverse.finance vaults

Conversely, inactive addresses are addresses who have not performed any of the actions cited above.

The list of fully inactive addresses as determined by auditing the full set of original INV holders against the actions above is appended to this proposal [3].

RATIONALE 

Inverse Finance initially required an in-depth application to be included in the DAO. The core part of this process was hinged on user involvement. In other words, Inverse has made it abundently clear from the very start that it sought to exclude “freeloaders” or fully passive members [1]. In fact, the original distribution of INV could also be thought of as the first “Roll Call”.

Inverse Finance’s definition of “contribution” is also very generous and extensive. Therefore, at this point in time, it is safe to assume that fully inactive members are not interested in being part of the DAO anymore. However, these few idle members were granted a final chance to signal their interest in being part of the DAO by voting in a roll call on Snapshot (and not on-chain) for maximum participation and accessibility.
.
ACTIONS 

1. Conduct Snapshot (gasless and off-chain) votes for this proposal lasting exactly 10 days (240 hours) to allow holders to identify themselves as active. - DONE [2]
2. Create a formal on-chain proposal containing the code to transfer the INV of fully inactive members to the DAO. Technically, these addresses would be the addresses cited below that did not take part in the Snapshot vote, or any of the actions lised in the DESCRIPTION.
3. Seize the tokens of fully inactive addresses and mint the tokens into the INV treasury.

NOTE: Two proposals are required to fully seize the tokens as the proposal structure supports a maximum of 19 actions. Both proposals will be posted simultaneously.
.
OUTCOMES 

After execution of both proposals 2560 INV is freed for later use by the DAO. It can be used to give to new, active members or to reward current active members for their participation.

Most importantly, INV transfers (and trades) can be enabled with the assurance that only active DAO members are holding it.

In conclusion, the Seize will provide a clean slate of active DAO members to keep building Inverse Finance.

----

[1] See tweets :
https://twitter.com/InverseFinance/status/1340699906072297474, https://twitter.com/InverseFinance/status/1340682301156564992, https://twitter.com/InverseFinance/status/1340677428830744577, https://twitter.com/InverseFinance/status/1340690620235608066, https://twitter.com/InverseFinance/status/1340691250178109440.

[2] See:
https://snapshot.page/#/inversefinance.eth/proposal/QmYJqfhA1u8xrWgZAm8wrxViUGnXdp2nJBmXSy2d5UWz1m
and
https://snapshot.page/#/inversefinance.eth/proposal/QmPXFNwtrEtEwaF7VEqZhTx27yL6DhvUJHkw3VhPPLQfqu
.
[3] As per https://github.com/InverseFinance/witch-hunt/blob/main/seize.csv

# Seize INV from Inactive Addresses (2 of 2) 

# Seize INV from Inactive Addresses (1 of 2) 
PROPOSAL 

Seize the INV tokens of fully inactive addresses and transfer them to the DAO for later use.

DESCRIPTION 

Active addresses (or members) are defined by having participated to the DAO in at least one of the following ways :

1. Delegated votes to an address including their own address
2. Voted a minimum of one time (either on-chain or on the two snapshots preceding this proposal [2])
3. Deposited in any of the Inverse.finance vaults

Conversely, inactive addresses are addresses who have not performed any of the actions cited above.

The list of fully inactive addresses as determined by auditing the full set of original INV holders against the actions above is appended to this proposal [3].

RATIONALE 

Inverse Finance initially required an in-depth application to be included in the DAO. The core part of this process was hinged on user involvement. In other words, Inverse has made it abundently clear from the very start that it sought to exclude “freeloaders” or fully passive members [1]. In fact, the original distribution of INV could also be thought of as the first “Roll Call”.

Inverse Finance’s definition of “contribution” is also very generous and extensive. Therefore, at this point in time, it is safe to assume that fully inactive members are not interested in being part of the DAO anymore. However, these few idle members were granted a final chance to signal their interest in being part of the DAO by voting in a roll call on Snapshot (and not on-chain) for maximum participation and accessibility.
.
ACTIONS 

1. Conduct Snapshot (gasless and off-chain) votes for this proposal lasting exactly 10 days (240 hours) to allow holders to identify themselves as active. - DONE [2]
2. Create a formal on-chain proposal containing the code to transfer the INV of fully inactive members to the DAO. Technically, these addresses would be the addresses cited below that did not take part in the Snapshot vote, or any of the actions lised in the DESCRIPTION.
3. Seize the tokens of fully inactive addresses and mint the tokens into the INV treasury.

NOTE: Two proposals are required to fully seize the tokens as the proposal structure supports a maximum of 19 actions. Both proposals will be posted simultaneously.
.
OUTCOMES 

After execution of both proposals 2560 INV is freed for later use by the DAO. It can be used to give to new, active members or to reward current active members for their participation.

Most importantly, INV transfers (and trades) can be enabled with the assurance that only active DAO members are holding it.

In conclusion, the Seize will provide a clean slate of active DAO members to keep building Inverse Finance.

----

[1] See tweets :
https://twitter.com/InverseFinance/status/1340699906072297474, https://twitter.com/InverseFinance/status/1340682301156564992, https://twitter.com/InverseFinance/status/1340677428830744577, https://twitter.com/InverseFinance/status/1340690620235608066, https://twitter.com/InverseFinance/status/1340691250178109440.

[2] See:
https://snapshot.page/#/inversefinance.eth/proposal/QmYJqfhA1u8xrWgZAm8wrxViUGnXdp2nJBmXSy2d5UWz1m
and
https://snapshot.page/#/inversefinance.eth/proposal/QmPXFNwtrEtEwaF7VEqZhTx27yL6DhvUJHkw3VhPPLQfqu
.
[3] As per https://github.com/InverseFinance/witch-hunt/blob/main/seize.csv

# Seize INV from Inactive Addresses (1 of 2) 

# Add xINV to Anchor
I propose to add xINV to Anchor. xINV is an Anchor market that users can enter by depositing INV as underlying collateral.

Users who deposit into xINV will receive 4 main benefits:
- Ability to borrow any assets on Anchor using INV as collateral
- Compounded INV treasury rewards every block
- Potential protocol fee sharing
- Ability to vote or delegate using GovernorCharlie (pending governance contract upgrade)

Below are the proposed deployment parameters. Please note that each of these parameters can be changed by a governance vote in the future.
- Collateral factor: 50%
- Withdrawal escrow duration: 14 days
- Reward rate: 1500 INV per month
- Oracle feed: Sushiswap TWAP oracle

# Add xINV to Anchor

# Add DolaFlashMinter as a minter for DOLA
To facilitate liquidations on Anchor, the DolaFlashMinter contract (0x6112818d0c0d75448551b76ec80f14de10f4e054) should get minting rights for DOLA to allow flash liquidators to easily liquidate underwater positions, maintaining the solvency of Anchor.

# Add DolaFlashMinter as a minter for DOLA

# Add unclaimed INV tokens to the treasury
Burn, re-mint and send all 18,180 unclaimed INV tokens to the DAO timelock contract (treasury) for future use by the DAO.

This proposal does not remove the unclaimed tokens from the total supply or distribute it.

# Add unclaimed INV tokens to the treasury

# Approve 2000 INV allowance to the Grants Committee from DAO treasury
A Grants Committee of 5 was elected by informal voting to manage the distribution of INV grants to individual DAO contributors.

5 committee members:
DAO founder: Nour
Delegates: Somer and Ben Lavabo
DAO members: Knockerton and MrBrownWhale

These members have formed a 5-of-5 multisig where all decisions have to be approved unanimously by all 5 members.

Multisig Address: 0x77C64eEF5F4781Dd6e9405a8a77D80567CFD37E0

On behalf of the committee members, I request a 2000 INV allowance from the treasury to the committee multisig to fund the first batch of INV grants. This proposal does not transfer INV to the multisig address. Instead, it allows the multisig to spend up to the allowance amount directly from the treasury address.

The DAO members will reserve the right to revoke this allowance using on-chain voting if need be in the future. Additionally, as long as INV token is non-tradable, the DAO also reserves the right to seize INV from grant recipients using on-chain voting if need be.

# Approve 2000 INV allowance to the Grants Committee from DAO treasury

# Apply a fee of 10% on yield generated by the DCA Vaults
Each vault has a configurable fee that is applied during harvest upon the global yield of the vault. The fee for all vaults is currently 0%. 

This proposal changes the fee to 10% for all vaults: DAI-ETH, DAI-YFI, DAI-WBTC, and USDC-ETH. 

The fees collected (in DAI) will be sent to the Inverse Finance treasury (0x926dF14a23BE491164dCF93f4c468A50ef659D5B). 

# Apply a fee of 10% on yield generated by the DCA Vaults

# Invest Dai reserves of the Stabilizer in a Yearn v2 strategy
DOLA Stabilizer contract allows governance to invest its Dai reserves using any strategy and sends profit to the treasury.

This proposal re-uses the existing Yearn v2 strategy code previously used in Inverse DCA vaults in order to invest the Stabilizer Dai reserves.

# Invest Dai reserves of the Stabilizer in a Yearn v2 strategy

# Refund Gas Fees For Inverse Finance Operations
Since inception Nour has personally covered gas fees for DCA Vaults harvester and Anchor protocol deployer. The amount spent on gas to date is $21,034.13.

Harvester 
(https://app.zerion.io/0x237e332ae87e749ea763ca1aacf87894c3180911/history)

Deployer
(https://app.zerion.io/0x3fcb35a1cbfb6007f9bc638d388958bc4550cb28/history)

This proposal sets an allowance to the value of 21,000 DAI to be drawn down by the deployer to reimburse the gas expenditure.

# Refund Gas Fees For Inverse Finance Operations

# Accept Anchor ownership, set ETH market rewards & change Stabilizer fees
- Accept ownership of all Anchor and DOLA contracts
- Set 600 INV rewards for all ETH lenders and borrowers on Anchor for a duration of 1 month
- Set Stabilizer buy and sell fees to 0.4% each in order to prevent competition with Uniswap and Curve DOLA LPs

The transferred contracts are:
- DOLA token contract (ability to mint and add/remove minters)
- Anchor comptroller contract (central controller of Anchor)
- ETH and DOLA market contracts

The following contracts are already controlled by gov and will require no change of ownership:
- Stabilizer (ability to set fees and change operator)
- Fed (ability to change the Fed chair)
- Anchor oracle contract (ability to add/remove price feeds)
- DOLA & ETH interest rate model

# Accept Anchor ownership, set ETH market rewards & change Stabilizer fees

# Incentivize INV Liquidity Providers on Ruler
Proposal
With the INV-DAI Ruler pair expiring at the end of this month (12 days), I propose we allocate INV as rewards to bootstrap liquidity, which will:
- Allow borrowing of larger amounts against their INV
- Lower interest rates for borrowers

Description
The Inverse community is extremely loyal and most users have yet to sell their airdrop, but may want to borrow against their INV positions. Ruler separates itself from other lending/borrowing platforms by offering non-liquidatable loans while also not requiring a Chainlink oracle.

I propose we incentivize the liquidity pools with 30 INV (~$40,000) from April 1st to April 30th. Ruler will match the 30 INV with 200 RULER (~$40,000), for a total of $80,000 in rewards over the month (4/1-4/30). The current March expiry INV pair has 200 RULER as incentives and has gathered ~$425k in liquidity. Doubling the rewards by adding INV should increase liquidity to close to $850k, enough to support large borrows.

Rationale
The value of the 80 airdropped INV is currently valued at ~$104,000. Even with a conservative mint ratio, large amounts of borrowing would drastically shift the interest rates if there is a lack of liquidity. 

Action
Incentivize the Ruler INV pair from April 1st to April 30th by transferring 30 INV from the Inverse treasury to Ruler multisig (0x49B8a0893B83A171D7d461198b69A0b1bb4dd0Ed).

Outcome
30 INV + 200 RULER will be rewarded from April 1st to 30th ($80,000 in total rewards over a month).

By offering INV rewards to LPs, compounded with the use of crv.finance pools, the liquidity will be sufficiently deep enough to support large borrows/lends. This in turn means, the interest rate for borrowing will be much lower.

# Incentivize INV Liquidity Providers on Ruler

# Distribute INV staking rewards to INV-ETH Uniswap LPs and DOLA-3CRV Curve LPs
DESCRIPTION

I propose two simultaneous 30-day staking reward events
- INV-ETH Uniswap LP token staking for a total of 1000 INV
- DOLA-3CRV Curve LP token staking for a total of 200 INV

RATIONALE

With INV listings pending for Anchor, Fuse, and potentially Cream, there is currently insufficient liquidity (< $1m) in the INV-ETH pool to safely service this usage.

Additionally, if INV is used as collateral to borrow an asset (say DOLA or ETH) and the INV price goes down, a liquidator repays the loan (in DOLA or ETH) to get INV, the liquidator will be forced to sell INV at a discount to their target asset, crashing the price of INV

Since DOLA-ETH staking ended, DOLA liquidity and demand have plummeted. As incentives for supplying ETH on Anchor are about to go into effect, a new DOLA staking incentive would incentivize Anchor ETH suppliers to borrow DOLA and stake on Curve, generating borrowing interest revenue to the treasury and boosting DOLA liquidity.

Thanks to Curve's low IL risk, Anchor DOLA borrowers face significantly lower risk when LP-ing and therefore the reward rate is reduced from the previous staking event's 625 INV to 50 INV per week.

These incentives buy us time (1 month) to finish development and execution of LP token auctions.

# Distribute INV staking rewards to INV-ETH Uniswap LPs and DOLA-3CRV Curve LPs

# Add WBTC, YFI and xSUSHI to Anchor and set INV rewards
- Add Chainlink feeds for WBTC, YFI and xSushi to Anchor oracle
- List and accept ownership of anWBTC, anYFI and anXSUSHI Anchor markets
- Set collateral factor to 60 for all assets on Anchor
- Distribute current ETH market rewards across all markets (except for DOLA)

# Add WBTC, YFI and xSUSHI to Anchor and set INV rewards

# Re-enable WBTC lending on Anchor
Out of extreme caution, the Anchor guardian role had decided to pause WBTC lending to investigate a small chance of market misconfiguration.

Only governance can re-enable WBTC lending.

I propose to re-enable WBTC lending since no issues were found and all Anchor markets are functioning properly.


# Re-enable WBTC lending on Anchor

# Lower Proposal Queue Duration And Some Other Thing You Don't Need To Worry About
- Lower proposal queue duration from 48 hours to 24 hours for future proposals (4 days total vote duration)
- Re-enable WBTC lending on Anchor (previous proposal was incorrectly submitted due to a proposal UI bug, oops!)

# Lower Proposal Queue Duration And Some Other Thing You Don't Need To Worry About

# Another Thing You Don't Need To Worry About
Re-enable WBTC lending on Anchor

Please ignore the previous proposal as it will fail to execute due to a minimum 48-hour delay hardcoded in the Timelock contract

# Another Thing You Don't Need To Worry About

# Acquire Tonic Finance
Tonic Finance is a competitor building a product (Swirl) in the DCA space. An opportunity was identified to acquire Tonic, its assets, and the services of its lead developer, Tony Snark, with a view to merge the tech and have Tony lead development on the Inverse Finance DCA vaults.

For the acquisition of Tonic Finance DAO and all related assets, excluding any pending grants disclosed prior to the date of this agreement: 1500 INV

- 250 INV paid up-front, at the time this proposal is passed (no vesting)
- 250 INV paid upon confirmation of Tony becoming a full-time contributor to Inverse Finance (total amount will be reserved by Inverse Deployer at the time this proposal is passed)
- 1000 INV vested over 2 years (vesting starts upon confirmation of Tony becoming a full-time contributor to Inverse Finance, total amount will be reserved by Inverse Deployer at the time this proposal is passed)
- First year vesting is non-seizable

For contributions as a developer on a full-time basis for the first 12 months from the mutually agreed start date of full-time contributions: 175 INV
- Paid in INV linearly upon confirmation of Tony becoming a full-time contributor to Inverse Finance (total amount will be reserved by Inverse Deployer at the time this proposal is passed)
- Contributions subject to verification by DAO
- Reevaluated after 12 months

Tony has already moved ownership of Tonic Finance domain name and Github repositories to Inverse before this proposal was submitted.

For full proposal text, please refer to: https://discord.com/channels/790157548845924352/794610028799721472/829031642856292472

# Acquire Tonic Finance

# Deposit DAI in treasury to DOLA Stabilizer in order to provide liquidity and support demand for DOLA
This is a proposal to purchase DOLA with the DAI in the treasury in order to provide the stabilizer with more liquidity.

# Deposit DAI in treasury to DOLA Stabilizer in order to provide liquidity and support demand for DOLA

# Refresh rewards for Dola 3CRV LPs
DESCRIPTION
This is a proposal to execute the following action:
- Allocate 750 INV for a month to DOLA 3CRV LP rewards.

RATIONALE
Liquidity is essential for Anchor, and currently liquidity is not ample enough. Hopefully this proposal will encourage more stakers to provide liquidity and maintain the DOLA peg. 
While we would like to find other solutions for maintaining liquidity, we will allocate rewards for the time being while we investigate a future solution.

# Refresh rewards for Dola 3CRV LPs

# Upgrade Anchor Comptroller and allocate rewards for Ruler INV LPs
- Upgrade Anchor comptroller contract to new implementation
- Resume rewards distribution retroactively for Anchor lenders and borrowers
- Disable rewards distribution for future Anchor borrowers, reward lenders only
- Pull future Anchor rewards directly from treasury address in order to avoid refilling in the future
- Allocate 100 INV rewards to Ruler INV market LPs (to be managed by Ruler team)

# Upgrade Anchor Comptroller and allocate rewards for Ruler INV LPs

# Add Lido's stETH market to Anchor and renew DOLA-3CRV rewards for 2 months
DESCRIPTION
Below are the proposed stETH market deployment parameters:
- Collateral factor: 60%
- Reserve Factor: 20%
- INV reward speed: 0 INV per month
- Oracle feed: Lido's Curve oracle https://etherscan.io/address/0xab55bf4dfbf469ebfe082b7872557d1f87692fe6

In addition to the stETH market, I propose renewing DOLA-3CRV LP rewards at a rate of 750 INV per month for a duration of 2 months (1500 INV total).

RATIONALE
At the time of this proposal, about $1.2B worth of stETH are in circulation. However, stETH is far less productive across DeFi than ETH and its holders have nowhere to borrow on their stETHs. Adding stETH to Anchor will allow holders to use it as collateral to borrow DOLA, making stETH a more productive asset and boosting Anchor TVL, DOLA borrowing demand and DAO revenue. Maintaining high DOLA-3CRV liquidity is essential to accommodate a potential increase in DOLA borrowing demand by stETH holders.

# Add Lido's stETH market to Anchor and renew DOLA-3CRV rewards for 2 months

# Provide funding to the Rewards Committee and the Marketing Committee
DESCRIPTION
This is a 2-in-1 proposal to provide funding to the Rewards and Marketing Committees:

- The Rewards Committee is requesting $100,000 USD to be distributed as 1110 INV. 

- The Marketing Committee is requesting $15,500 USD to be distributed as 115 INV.

RATIONALE
Each respective body requires funding to execute their duties:

- The Rewards Committee is tasked with the distribution of INV rewards on a semi-regular basis to Inverse Finance contributors, grants (yet to be offered), and covering on-chain DAO expenses (gas, deploying contracts, etc.). Most recent distribution: https://discord.com/channels/790157548845924352/790157548845924356/845739454940446781

- The Marketing Committee is tasked with marketing responsibilities for Inverse Finance. A proposal outlining the usage of these funds is here: https://discord.com/channels/790157548845924352/840971553864548352/858003088253517854

# Provide funding to the Rewards Committee and the Marketing Committee

# Add LP tokens to Anchor, reduce xINV reward rate and withdrawal delay, increase collateral factors and add Fuse Pool 6 Fed
This is a large proposal that addresses the following issues:
- Low DOLA liquidity causing peg issues
- Low DOLA borrowing demand
- Low INV liquidity despite Sushi rewards

RATIONALE

The purpose of this proposal is to improve the liquidity situation before Inverse Guard is launched soon after. Inverse Guard is a risk product. Therefore, potential users of Inverse Guard will take risk factors such as DOLA liquidity and peg stability in consideration to make the decision to trust our cover product for long coverage durations. Since INV may act as a backstop for DOLA in an unlikely scenario of extreme DOLA insolvency, INV liquidity should also be considered vital to DOLA's health.

ACTIONS
1. Add DOLA-3pool Curve LP as collateral-only asset to Anchor (borrowing disabled) with a 70% collateral factor
2. Add INV-DOLA SLP as collateral-only asset to Anchor (borrowing disabled) with a 70% collateral factor
3. Set a reward rate of 600 INV per month for supplying DOLA-3pool to Anchor
4. Set a reward rate of 500 INV per month for supplying INV-DOLA to Anchor
5. Increase collateral factors of DOLA, ETH, WBTC, YFI, stETH and xSushi to 70% and xINV to 60%
6. Whitelist DOLA Fed contract for Fuse Pool 6 as a DOLA minter
7. Reduce xINV reward rate to 1250 INV per month
8. Reduce xINV withdrawal delay to 10 days


# Add LP tokens to Anchor, reduce xINV reward rate and withdrawal delay, increase collateral factors and add Fuse Pool 6 Fed

# Use $77K Dai to buy DOLA at a discount and execute our first $50K INV buy back
- In order to address the DOLA peg problem, I propose using all of our Dai revenue reserves to market-buy DOLA at a discount, creating additional demand for DOLA
- The current INV price creates a unique opportunity to buy back INV at a low price in order to allocate tokens for future rewards. The current protocol revenue rate is $1.14M DOLA per year or $95K per month. I propose using $50K DOLA to buy back INV.

ACTIONS
Approve $77K Dai to the Deployer address in order to execute DOLA and INV purchases on behalf of the DAO. All DOLA and INV proceeds will be sent back to the DAO treasury address.

# Use $77K Dai to buy DOLA at a discount and execute our first $50K INV buy back

# Upgrade Governance to GovernorMills
GovernorMills features:
- xINV stakers can vote and propose
- DAO can vote to change quorum and proposal thresholds
- DAO can whitelist addresses to propose without meeting the proposal threshold
- Deployer address is set as a temporary guardian. Guardian can cancel pending proposals, update thresholds or transfer governance ownership in case of an emergency

# Upgrade Governance to GovernorMills

# DOLA bad debt elimination proposal
Forum post link: https://forum.inverse.finance/t/dola-bad-debt-elimination-proposal/581

# Summary

This proposal outlines a comprehensive strategy to eliminate the remaining ~$6M of DOLA bad debt through two funding sources: (1) Some of DeFi’s most prominent investors have committed to immediately repay $2.6M of DOLA bad debt in exchange for a vested INV swap provided by the treasury. (2) Securing up to the full remaining $3.4M bad debt through a non-liquidatable protocol loan collateralized by the DAO’s veAERO and veVELO NFTs. We believe this plan has the potential to eliminate DOLA bad debt within weeks while aligning new strategic stakeholders with the DAO.

# INV swap

This proposal seeks DAO approval for an agreement with Temple, DCF God, Chud.eth, Greenfund, Octoshi and SS (Ethena) to collectively repay $2.6M of DOLA bad debt within four days of the proposal's execution. In exchange, they will receive 104,000 INV tokens at a rate of 25 DOLA per INV, subject to a six-month lock-up period from the date of the proposal's execution.

The 104,000 INV will be minted and transferred to a designated custom smart contract responsible for enforcing the terms of this agreement, including immediate bad debt repayment, INV compensation, and vesting schedule. The locked INV tokens will be deposited into sINV for the lock-up duration until claimed by their future owners. The designated contract is already deployed on Ethereum and its source code is verified. The contract address is available for review in the on-chain actions section of this proposal down below.

While this swap will result in a one-time dilution of approximately ~17% for current INV holders, we believe the benefits significantly outweigh this cost. The elimination of DOLA's bad debt, coupled with a substantial reduction in DOLA's risk premium and costs of capital (incentives), along with the potential for growth among new users and partners, are some of the benefits we can expect from a 100% healthy DOLA.

# Protocol loan

This proposal also seeks authorization for the Treasury Working Group to utilize its existing veAERO and veVELO NFTs as collateral for a non-liquidatable protocol loan of up to $3.4M provided by the lending protocol 40acres.finance. This loan, if taken, will be automatically repaid over time from the veNFTs cash flow. The DAO will also reserve the option to repay early if funds become available. This proposal authorizes, but does not guarantee, the issuance of this loan as 40acres is still undergoing due diligence and code review by the DAO’s Risk and Product working groups.

This loan is intended to eliminate DOLA's bad debt. It also ensures the DAO can retain its veNFTs, which are strategic assets crucial for DOLA's growth following bad debt resolution.

The current 40acres pools cannot be used to cover this loan due to their low collateral factor. The 40acres team are in the process of deploying new veAERO and veVELO lending pools which will provide the TWG with sufficient borrowing power to cover the remaining bad debt, contingent upon sufficient lending liquidity. The existing 40acres veAERO deployment alone has attracted over $5M in lending supply, demonstrating that the 40acres team is able to attract sufficient lending liquidity for our needs.

# Why now

1. A consortium of prominent DeFi investors has been assembled who, if aligned with the DAO, have the potential to deliver strategic value to the DAO beyond bad debt repayment including marketing, product usage and future investments.
2. The 40acres team has provided assurances that the DAO will be able to borrow up to 40-50% of the value of its veNFTs, establishing a viable path towards full bad debt elimination
3. Current market sentiment appears highly positive. INV risks missing out on the benefits of a favorable environment due to the burden of bad debt. Once unburdened, the upside potential may be well worth the short term dilution.

# On-chain actions

* Mint 104,000 INV to the DAO treasury
* Approve 104,000 INV to the RepayRewardEscrow contract
* Call RepayRewardEscrow.start()

DOLA bad debt elimination proposal

# Proposal to Adjust DBR Replenishment Rate
Forum Link: https://forum.inverse.finance/t/proposal-to-adjust-dbr-replenishment-rate/228

**Summary:**

This proposal seeks to adjust the DBR replenishment rate from 1,000% to 54.75% APR. The goal is to maintain an effective deterrent for running out of DBR while not being overly punitive, thus encouraging broader adoption of FiRM.

**Background:**

The DBR replenishment rate, expressed in APR, is charged to borrowers when their DBR balance falls to 0 whilst holding an open loan position on FiRM, triggering a replenishment event. If borrowers fall into the replenishment zone, the replenishment rate encourages them to add more DBR to their balance to avoid additional costs.

Borrowers with a continuous DBR deficit will eventually accumulate enough debt in the protocol to be liquidated, unless they terminate their loan or continue to add collateral. The replenishment rate must be higher than the DBR price to act as an effective incentive for borrowers to repay their loans, as it’s a de facto cost ceiling on borrowing in FiRM.

**Motivation:**

The current DBR replenishment rate stands at 1,000% APR, acting as a significant deterrent for borrowers who may run out of DBR. However, feedback gathered during user studies has suggested that this rate may be too high, renewing earlier concerns that this might be discouraging larger borrowers from using the platform, as their daily costs would be significant if they were to enter the replenishment zone.

If approved, this proposal seeks to enact a new rate of 54.75% APR, or more conventionally 0.15% per day. This rate provides a balance between deterring users from running out of DBR and encouraging adoption while also maintaining a reasonable potential for revenue generation.

Replenishment rate will remain subject to change, should the replenishment rate be too low to be an effective deterrent, or the price of DBR approach it.

Implementing the risk mitigation measures and monitoring activities outlined in the [risk assessment](https://docs.google.com/document/d/1hx5edw2RktMIYANYr4QXxGtoltnfnmC4awqM6UtB0Oc/edit?usp=sharing) produced by the RWG will further help address potential risks associated with reducing the replenishment rate. It is essential to remain flexible and responsive to user feedback and market developments, making further adjustments to the replenishment rate as needed to ensure the platform's ongoing success.

**On-Chain Actions:**

* Set the DBR replenishment rate to 54.75% APR (0.15% per day).

Proposal to Adjust DBR Replenishment Rate

# 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        |

Growth Working Group - Season 1 Proposal

# Adjust parameters to de-risk FiRM
The purpose of this proposal is:
(1) reduce exposure to CRV and CRV-derivate collaterals on FiRM
(2) reduce risks of cascading liquidations on FiRM
(3) incentivize some borrowers to repay their FiRM loans in order to re-allocate their DOLAs to AMM Feds

In order to achieve (1), this proposal pauses new borrows on CRV, cvxCVV and st-yCRV markets. This will prevent more loans backed by these collaterals and will only allow borrowers to repay their existing loans. This will also prevent the Fed Chair role from further expanding exposure to these markets until further notice.

In order to achieve (2), this proposal reduces the liquidation factor of the 3 markets above to 20%. This will prevent liquidators from seizing and selling a significant portion of borrowers' collateral during liquidations, reducing the likelihood of cascading liquidations.

In order to achieve (3), this proposal reduces the maximum DBR streaming rate from 20M/year to 12M/year. This reduction will turn DBR supply deflationary until FiRM's global debt is reduced down to $12M/year.

Adjust parameters to de-risk FiRM

#  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.

Q2 2022 Growth Working Group Budget Request

# Push new INV oracle with price ceiling, 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.

The new INV oracle feature a lag time to observations, making them harder to immediately manipulate, while introducing a dynamic price ceiling that makes it impossible to increase the price beyond a reasonable threshold.

### On-Chain Actions

+ Update INV Oracle

+ Assign the Oracle Guardian role to the Policy Committee Multisig

+ unpause xINV market's use as collateral

Push new INV oracle with price ceiling, re-enable xINV as collateral on Frontier

# R3gen Consultancy Phase 2 Budget
# Proposal to extend TWG Allowance for r3gen Consultancy

Forum post: https://forum.inverse.finance/t/r3gen-consultancy-phase-2-budget/273

## Background

R3gen Finance have been working with Inverse Finance DAO contributors since the provisions of [Proposal 92](https://www.inverse.finance/governance/proposals/mills/92), and the continuation granted in [Proposal 112](https://www.inverse.finance/governance/proposals/mills/112). Significant progress has been made, notably in areas such as legal discovery, FP&A work on budgeting and the impending launch of Season 1.

## Overview

This proposal seeks to grant an allowance to the TWG for Phase 2 with r3gen consultancy, where the work started in March 2023 and will be finalised and presented to the DAO. A 7-week period is requested for this, lasting from August 1st to September 20th. The deliverables being worked on in this period will be:

#### Season 1 Launch

* 1 x review and feedback for each WG proposal
* 1 x optional 1:1 feedback discussion with contributors on WG Proposal and proposed self-set compensation
* 1 x Season 1 Working Group Spend Summary Report
* 1 x Season 1 Recommendation Report document

#### Legal

* Continued support on Legal incorporation discovery, with a specific focus on engaging and exploring service providers able to offer a perspective on Middle East jurisdictions
* Continued facilitation of conversations around BVI/Cayman incorporation with Lime Legal

#### $INV Vest

* 1 x Options Proposal for recommended restructure of contributor $INV vest
* Facilitation of conversations and discussion related to $INV vest readjustment in the period from August 1st to September 20th (7 weeks).

### Fee

$8000 in $INV using spot price at the point of payment and $4650 in $USDC. Fees to be at the commencement of work due August 1st. This is a 13.1% fee reduction for USDC and 12.0% INV reduction compared to the previous periods. The DAO Treasury no longer holds USDC, having converted it to DOLA, so a DOLA allowance is requested.

Given this:

* USDC fee for 7 weeks: 4650 USDC
* (Upper) Approximate INV fee for 7 weeks: 260
* Existing TWG DOLA Allowance: 3,465,247
* Existing TWG INV Allowance: 15,057

The requested allowance will be the sum of the current allowance and the impending fees.

## On-Chain Actions

* Set the TWG’s DOLA allowance to 3,469,897
* Set the TWG’s INV allowance to 15,317

R3gen Consultancy Phase 2 Budget

# 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

Launch new INV oracle, re-enable xINV as collateral on Frontier

# Creation of a lending protocol based on interoperability within the Inverse Finance and Dola USD Stablecoin token
# Reference to the forum (https://forum.inverse.finance) applying our proposal: https://forum.inverse.finance/t/proposal-for-the-creation-of-an-interoperable-lending-protocol-utilizing-the-dola-usd-token-and-its-operator-namely-inverse-finance-anchor-treasury/392

Description of our proposal:
We are delighted to introduce a novel protocol that operates as an integral yet distinct component of the Inverse Finance ecosystem. This protocol is specifically designed to offer lending services, allowing users to borrow DOLA USD in exchange for collateral in USDT, USDC, and DAI. This system enables seamless transactions across multiple EVM-compatible networks, such as Arbitrum, Base, Gnosis Chain, Binance Smart Chain, Polygon, Linea, Metis Andromeda, and Blast, enhancing the interoperability and efficiency of the decentralized finance (DeFi) landscape.

Our protocol distinguishes itself by focusing on the borrowing aspect of DeFi, without the capability to mint new tokens. Instead, it provides users the option to secure loans in DOLA USD against their digital asset holdings. A unique feature of our system is the user-defined deadline for loan repayment, which can be set up to 12 months. If the loan is not repaid within this specified period, the collateral—comprising USDT, USDC, and DAI—will be automatically transferred to the Inverse Finance: Anchor Treasury contract. This mechanism ensures a level of security and sustainability for the protocol, while also contributing to the overall health and liquidity of the Inverse Finance ecosystem.

Additionally, our protocol leverages the robust DAO structure of DOLA USD and integrates with the Inverse Finance ecosystem, using the INV token and the Inverse Finance: Anchor Treasury contract. This integration not only allows for the smooth operation of our lending services but also supports the broader objectives of Inverse Finance by reinforcing its liquidity and facilitating governance through proposals. 

By borrowing DOLA USD against USDT, USDC, and DAI, users can enjoy the flexibility and efficiency of DeFi without the need for traditional minting processes. This approach not only simplifies the borrowing experience but also aligns with our commitment to offering innovative financial solutions within the Inverse Finance ecosystem. Our protocol aims to foster a more interconnected and resilient DeFi environment, promoting accessibility, security, and user empowerment across the blockchain.

In conclusion, the funds acquired from this proposal will be fully allocated towards providing liquidity for our lending protocol, ensuring there is ample DOLA USD available for loans in exchange for the deposited equivalent value in USDT, USDC, and DAI. This strategic allocation underscores our commitment to bolstering the protocol's capacity to facilitate secure and efficient lending transactions within the decentralized finance ecosystem.

Furthermore, our protocol introduces a fee structure for each loan transaction. This fee is calculated as a percentage of the loan amount in DOLA USD, taking into account the deposited collateral value in USDT, USDC, and DAI, as well as the duration of the loan period. This innovative approach ensures that the protocol remains sustainable and capable of supporting its operations and objectives over the long term.

Significantly, the fees collected from these transactions will be immediately transferred to the specified address: 0x926dF14a23BE491164dCF93f4c468A50ef659D5B (Inverse Finance: Anchor Treasury). This direct transfer mechanism ensures a seamless flow of resources back into the Inverse Finance ecosystem, further enhancing the liquidity and operational efficiency of the Anchor Treasury. This strategic financial model is designed to support the continuous growth and development of our lending protocol, contributing to a more robust and interconnected DeFi landscape.

Creation of a lending protocol based on interoperability within the Inverse Finance and Dola USD Stablecoin token

# Community Working Group - Season 1 Proposal
# Summary
Proposal for Inverse Finance DAO to cover operations of Community Working Group (CWG) in Season 1, running from October 1st, 2023 to March 1st, 2024. Forum link: https://forum.inverse.finance/t/community-working-group-season-1-proposal/325/1

# The Community Working Group At Inverse Finance
Inverse Finance is a DAO with prolific on-chain governance and the Community Working Group was created in 2022 to facilitate its social and support layer. After the 2022 exploits and a long development phase, the DAO is now recovering market share as we now have a great product offering in FiRM. CWG spent this time leading the hiring of new team members, helping to organize new working groups, organizing and hosting community and internal organizational calls, managing the DAO’s Discord community, and creating and maintaining a suite of educational and support material including docs, FAQ’s and explainer videos. CWG’s progress in the last 12 months along with the success of FiRM gives us the baseline capacity to take a more aggressive approach and attract and welcome more participants to the community.

# Mission
Community is ultimately Inverse’s most valuable strategic moat versus the competition. CWG’s primary goals are to maintain and expand community education and engagement, with additional goals of improving product usability and recruiting new contributors. CWG created the docs and have kept them up to date in order to assist users of the protocol. This includes creating multiple explainer videos embedded in the docs.

CWG will continue to ensure that Inverse Finance DAO community members have moderated platforms for communication on discord and the discourse forum. CWG will continue to provide educational material on using our products and how to participate in governance. CWG implements Guild which is an on chain community toolset. It provides us with some sybil protection, discord integration and rewards for users that meet on-chain criteria, and deeper insights into our users on chain behaviors.

CWG conducted feedback interviews with Ohmies and some significant actors in the crypto space together with GWG and provided the feedback to PWG in preparation for launching the gOHM FiRM market.

CWG drove the hiring process for 0xMT who is our current head of PWG, and later for Tabboz, smart-contract dev in PWG.

* 0xMT and Yellowtail: Inverse Finance - Proposal Details
* Tabboz: Inverse Finance - Proposal Details.

# Responsibilities
The Community Working Group’s ongoing responsibilities:

User Support

* Discord and forum moderation, assisting in crisis communications with the community.
* Creation and maintenance of the Docs.
* Collecting feedback from users.
* Making user feedback available for product development.
Community building

* Promoting Inverse products to the community
* Hosting weekly internal team sync calls, weekly public community calls and weekly community events like poker sessions.
* Producing newsletters in collaboration with the GWG
* Assisting community members in creating proposals (Nakamomo is whitelisted to post proposals to Governor Mills).
* Maintaining relevant “quests” in Guild that grant discord roles for users based on their on chain behavior.
Team building

* Leading the recruiting, interviewing, and onboarding process for new contributors.

# 180-day Objectives
The most important metric for CWG is retention of community members and it can be followed using discord’s server insights, which Nakamomo will post monthly in the CWG forum thread.

Much of CWG’s work is focused on maintaining the docs, and discord to make pertinent information available for community members. Success can be measured in a decrease or quiet period of support requests in discord and confusion among those who study in the docs, explainer videos, blogs and other educational communication.

Growth in the size of the Inverse Finance community can be followed using both guild and discord’s server insights. The new implementation of snapshot.org could become valuable for gauging wider INV holder engagement and points of view as it doesn’t use delegation. Guild is more reliable than discord for gauging if someone is likely to be an active and informed member of the community as it confirms their on chain activity, which requires extra steps for the user and gives them discord roles. Discord’s server insights are less reliable as it is hard to tell how the metrics are skewed by bot activity, but they have more history. Note that 2948 inactive discord users were pruned on July 25th.

CWG will engage users and discord members in projects and events as follows:

* Discord user growth. Season 1 objective for discord server metrics: Increase the number of new members per month to 200.

Discord user retention. Season 1 objective:

* Amount of INV used to vote on snapshot votes. Season 1 objective: >20K INV which is double the lower bound from recent Governor Mills participation.

* Create on chain quests in guild that strengthen Inverse Finance’s narratives and qualify users for access to gated discord channels, POAPs/NFTs or perks in other community events. Season 1 objective: Increase guild membership from 100 to 300.

* Engaging with GWG to produce on chain events such as POAP’s or other commemorative NFT’s. Season 1 objective: Two POAP/NFT events (FiRM 50MM TVL POAP is ready to go).

* Producing blog posts and twitter threads relevant to our community, often in collaboration with GWG and other WG’s. Season 1 objective: Author or co-author four blog posts.

* Producing explainer videos when needed. Season 1 objective: Explainer video for ALE or FiRM’s L2 expansion.

* Hosting contests such as the DOLA strategist contest with gated access to a discussion forum in discord. Season 1 objective: Engage 10 INV bulls & whales, and 50 Community Members (all are guild role holders) in gated polls and discords conversation, and summarize the feedback to the team.

* Hosting community events such as poker tournaments with partner protocols. Season 1 objective: Internal weekly poker tournaments and two partner tournaments.

* Appearing in public partner events such as Twitter spaces. Season 1 objective: Join 5 events.

# Decision Making Power
Authority to use the funds granted to the CWG msig for CWG duties, cross-WG and cross-DAO purposes outlined in this proposal.

# SecOps Responsibilities
Examine new discord members and ban probable scammers. Assist RWG, TWG and PWG in maintaining communication with the community in times of crisis.

# Budget
In Season 1 Contributors agreed to move to a standard compensation banding system. You can view the full compensation bands here 4.

## Contributors
Due to runway constraints, Nakamomo’s comp is set to 9.500 DOLA monthly in tier C instead of tier B.

| Name       | FTE | Band | Pro-rata Monthly Salary | Total for Season 1 |
| ---------- | --- | ---- | ----------------------- | ------------------ |
| Nakamomo   | Yes | C    | 9.500                  | 57.000             |

### Nakamomo

Nakamomo has been a core contributor since December 2021 and created CWG in early 2022. I am a good communicator and have played an important role both in strengthening the Inverse Finance DAO community (created new docs, discord reorganization and moderation, forum moderation), and in the formation of new working groups, including organizing the hiring process. I have also taken an empathetic and supportive role in times of crisis communication.

## Ad hoc & Tooling

| Details            | Type                   | Requested $INV | Requested $DOLA <br> |
| ------------------ | ---------------------- | -------------- | --------------------- |
| Discourse Forum    | Subscription           |                | 600                   |
| Community Events\* | Prizes, Platform Fees  | 100            | 3000                  |
| Education          | Vyond Explainer Editor |                | 300                   |
| Total              |                        | 100            | 3.900                 |

## Community Events
CWG holds weekly poker sessions open for Community Member guild role holders with 50 DOLA in prize money per table (1-2 tables).

## Flexible Budget
CWG requests a flexible budget as follows to cover unforeseen expenditures that arises during the Season

| Additional flexible budget in $DOLA | 5.000 |
| ----------------------------------- | ----- |
| Additional flexible budget in $INV  | 100   |

# Summary
In summary CWG requests the following budget for the 6 months of Season 1.

|                  | S1 $DOLA allowance | S1 $INV allowance |
| ---------------- | ------------------ | ----------------- |
| Contributors     | 69.000             |                   |
| Ad Hoc & Tooling | 3.900              | 100               |
| Flexible Budget  | 5000               | 100               |
| Total            | 65.900             | 200               |

Community Working Group - Season 1 Proposal

# Add FLOKI as Anchor collateral and modify INV Rewards
Inverse has been approached by an early Inverse Finance community member and core team member of the Floki (formerly Floki Inu) project to create a DOLA borrowing facility for FLOKI on Anchor and to diversify the Floki treasury into $3 million DOLA. This is an excellent opportunity for Inverse Finance to get a jump start on our 2022 plans to encourage more DAO treasuries to diversify into sustainable organic stablecoins starting with DOLA.

The treasury diversification market opportunity for Inverse is large and launching this effort with a pro-Inverse partner like Floki is an ideal way to ease into this new program. One of multiple benefits we can promote to DAO treasuries - on a case by case basis - is the addition of their token as a collateral type to Anchor in order to enable a DOLA lending facility against that token. The Floki community is eager for a new borrowing facility and a Chainlink oracle for FLOKI on Ethereum is already live.


In order to ensure a successful launch of this effort, we propose to simultaneously begin re-aligning current INV incentives for YFI, ETH, WBTC and xSUSHI from 100 to 75 INV per month and to set INV incentives of 50 INV per month for FLOKI staking. Lastly, the Floki community brings a great deal of energy to this effort (check out the Discord) and in combination with other “popular” collaborations underway like Concave can bring new visibility to DOLA and Inverse and potentially lead us into other treasury diversification and lending protocol opportunities.

Add FLOKI as Anchor collateral and modify INV Rewards

# Authorize DOLA Compensation for Full-Time Inverse Finance Contributors
### SUMMARY

Proposal to provide base compensation to two new full-time contributors, TheAlienTourist and Patb. 

### BACKGROUND

Inverse DAO is entering a new period of growth as we move towards product-market fit and solidify our position in the DeFi ecosystem. Up until now we have moved forward largely based on the incredible efforts of a handful of motivated, part-time contributors. In order to accelerate our growth and enhance Inverse's organizational abilities, the time has come to bring in full-time contributors in the areas of Engineering & Growth.

### ACTIONS

Allocate a total of $24,666 in DOLA per month to compensate two full-time contributors: TheAlienTourist (Senior Frontend Engineer) & Patb (Head of Growth).

1. Authorize the Inverse treasury to give a $1M DOLA allowance to the Inverse payrolls contract (controlled by the Funding Committee) to enable this compensation.
2. Allocate a total of $27,954 in DOLA upon execution of this proposal to compensate TheAlienTourist and Patb for work performed in December 2021.

Authorize DOLA Compensation for Full-Time Inverse Finance Contributors

# Create a Growth Working Group with Initial Budget
Proposal Created by Pat B (Head of Growth)

### Summary

Create a temporary growth working group and operating budget to boost partnership and marketing activities for Inverse Finance.

### Background

Inverse Finance today boasts a small but growing number of partnerships along with some efforts to formalize marketing within the DAO. Activities like @Akarin’s newsletter operate purely on a volunteer basis however this model does not scale very well and good talent can be poached. As Inverse turns toward a more protocol-to-protocol focus and prepares for multiple announcements in the near future, we need to begin putting up scaffolding to assist us in our objective to reach $1 billion in DOLA circulation in 2022.

More recently, planning for a significant overhaul of the tokenomics of INV, internally referred to as Inverse +, points to a need for an increase in marketing support to launch that project, assuming it passes an upcoming on-chain vote.

### Proposal

I propose the creation of a temporary Growth Working Group (GWG), responsible for promoting and executing partnerships but more generally driving the marketing of “DOLA Everywhere”, which will be largely partner-driven. A working group allows us to leverage the resources and talents of lots of part-time contributors who want to be more involved with Inverse but who want more organization structure and compensation for their efforts. 

The working group approach is common in many DAO’s and given our need to move quickly and cost-efficiently, I recommend we give this a try! Note that I am in favor of a permanent group but suggest we launch the GWG as a test and also as a potential model for other working groups (eg : Treasury, Governance, Community).

This initial BD/marketing focus of the GWG could be split into multiple WG’s in the future, but given the above, I recommend a combined group for now.

### Responsibilities for the GWG include:

- Partnerships/Business Development
  - Drive Inverse Protocol Ambassador Program
  - Manage Inverse Partnership Bounty program for DAO members who bring in especially notable partnerships
  - Conduct weekly partnership funnel review
  - Propose and discuss new partner model experiments/revenue models
  - Create Notion or similar board to track BD/Marketing efforts
  - Competitor analysis
  - Monthly reporting to the DAO on partnership progress

- Marketing
  - Drive partner marketing activities/coordination with new partners like Concave
  - Drive new campaign around content development - blog, medium, video, podcast, etc.
  - Improve Inverse’s content marketing / impression mining - Twitter/Linkedin/etc.
  - Content optimization - SEO, recommend updates to Inverse web site and related sites to optimize awareness of Inverse and attract new partners.
  - Layer3/Coordinape program to reward extraordinary one-off partnership or marketing achievements like “Get Elon Musk To re-tweet Nour” or “get INV listed on Coinbase”
  - Create new INV presence on LinkedIn, Reddit, Youtube, etc.
  - Revisit DOLA logo, merchandise
  - Recommend or manage events where INV team members should speak or attend
  - Outreach to content projects like Coingecko, aggregators like Zapper
  - Monthly reporting to the DAO on marketing programs

- Inverse Plus Launch
  - Hire design talent for updated Inverse Finance landing page, app, documentation
  - Hire INV+ project manager for 90 days
  - Hire full-time marketing manager to drive all aspects of marketing communications leading to launch of project
  - Influencer marketing

I propose a weekly GWG Discord meeting that is open to anyone in the DAO and of course other GWG meetings can occur at any time. At the end of 90 days we can determine how best to modify or extend the GWG charter and budget for a subsequent 90 day period.

### Budget

I propose a budget of 140,000 DOLA for this effort for the time period of Jan-Mar 2022 with an additional allocation of 10,000 DOLA for the time period of November 1, 2021 thru Dec 31, 2021 for GWG rewards earned during that time period and before this proposal could be voted on.

BUDGET OVERVIEW: (Please refer to https://forum.inverse.finance/t/proposal-for-growth-working-group/31 to see the formatted & itemized budget table):

Unused budget, particularly budget allocated for INV+ specific activities, can be returned to the Treasury or extended into a subsequent 90 day epoch of the GWG. This program is new and the idea is to try multiple approaches/experiments so actual allocations will likely vary from this but the total budget will not exceed 150,000 DOLA.

### Organization

The GWG will be led by @patb (me) and should ideally include at least one additional co- leader, perhaps a marketing manager. Participants in the GWG will have opportunities to propose new GWG projects and experiments, which the GWG can discuss and if necessary conduct internal votes before proceeding. For “major” projects a proposal can be vetted within the GWG and then moved up to a vote by the full DAO.

### Transparency Commitment

Each month the GWG will share a report with the INV DAO that provides updates including

- Summary of funds spent
- Updates on funded experiments

### Action

- Deposit 150,000 DOLA to Growth Working Group multisig wallet 0x07de0318c24D67141e6758370e9D7B6d863635AA

Create a Growth Working Group with Initial Budget

# Set FLOKI collateral ratio on Anchor to zero
Floki have just notified us of a contract migration process that is happening very soon that presents possible risks to Anchor due to the potential for temporary liquidity issues that may result in inaccurate pricing data

Out of an abundance of caution, we are working with Floki leadership to ask Floki stakers who have borrowed any assets on Anchor to repay their loans before this migration occurs.

After this proposal passes, any remaining FLOKI depositors who do not repay their loans will get liquidated and no more loans can be collateralized using FLOKI until another governance proposal. FLOKI users do NOT have to withdraw/unstake from Anchor. Only repaying loans and disabling FLOKI as collateral is sufficient to be safe from forced liquidation. Users who are not using FLOKI as collateral are not required to take any actions.

After all DOLA loans against staked FLOKI are cleared, a separate governance vote can take place which approves the new Floki token and re-enables DOLA borrowing against it.

Actions

1. Set FLOKI collateral ratio to zero

Set FLOKI collateral ratio on Anchor to zero

# REVISED PROPOSAL: Create a Growth Working Group with Initial Budget
Proposal Created by Pat B (Head of Growth)

### Summary

Create a temporary growth working group and operating budget to boost partnership and marketing activities for Inverse Finance.

### Background

Inverse Finance today boasts a small but growing number of partnerships along with some efforts to formalize marketing within the DAO. Activities like @Akarin’s newsletter operate purely on a volunteer basis however this model does not scale very well and good talent can be poached. As Inverse turns toward a more protocol-to-protocol focus and prepares for multiple announcements in the near future, we need to begin putting up scaffolding to assist us in our objective to reach $1 billion in DOLA circulation in 2022.

More recently, planning for a significant overhaul of the tokenomics of INV, internally referred to as Inverse +, points to a need for an increase in marketing support to launch that project, assuming it passes an upcoming on-chain vote.

### Proposal

I propose the creation of a temporary Growth Working Group (GWG), responsible for promoting and executing partnerships but more generally driving the marketing of “DOLA Everywhere”, which will be largely partner-driven. A working group allows us to leverage the resources and talents of lots of part-time contributors who want to be more involved with Inverse but who want more organization structure and compensation for their efforts. 

The working group approach is common in many DAO’s and given our need to move quickly and cost-efficiently, I recommend we give this a try! Note that I am in favor of a permanent group but suggest we launch the GWG as a test and also as a potential model for other working groups (eg : Treasury, Governance, Community).

This initial BD/marketing focus of the GWG could be split into multiple WG’s in the future, but given the above, I recommend a combined group for now.

### Responsibilities for the GWG include:

- Partnerships/Business Development
  - Drive Inverse Protocol Ambassador Program
  - Manage Inverse Partnership Bounty program for DAO members who bring in especially notable partnerships
  - Conduct weekly partnership funnel review
  - Propose and discuss new partner model experiments/revenue models
  - Create Notion or similar board to track BD/Marketing efforts
  - Competitor analysis
  - Monthly reporting to the DAO on partnership progress

- Marketing
  - Drive partner marketing activities/coordination with new partners like Concave
  - Drive new campaign around content development - blog, medium, video, podcast, etc.
  - Improve Inverse’s content marketing / impression mining - Twitter/Linkedin/etc.
  - Content optimization - SEO, recommend updates to Inverse web site and related sites to optimize awareness of Inverse and attract new partners.
  - Layer3/Coordinape program to reward extraordinary one-off partnership or marketing achievements like “Get Elon Musk To re-tweet Nour” or “get INV listed on Coinbase”
  - Create new INV presence on LinkedIn, Reddit, Youtube, etc.
  - Revisit DOLA logo, merchandise
  - Recommend or manage events where INV team members should speak or attend
  - Outreach to content projects like Coingecko, aggregators like Zapper
  - Monthly reporting to the DAO on marketing programs

- Inverse Plus Launch
  - Hire design talent for updated Inverse Finance landing page, app, documentation
  - Hire INV+ project manager for 90 days
  - Hire full-time marketing manager to drive all aspects of marketing communications leading to launch of project
  - Influencer marketing

I propose a weekly GWG Discord meeting that is open to anyone in the DAO and of course other GWG meetings can occur at any time. At the end of 90 days we can determine how best to modify or extend the GWG charter and budget for a subsequent 90 day period.

### Budget

I propose a budget of 140,000 DOLA for this effort for the time period of Jan-Mar 2022 with an additional allocation of 10,000 DOLA for the time period of November 1, 2021 thru Dec 31, 2021 for GWG rewards earned during that time period and before this proposal could be voted on.

BUDGET OVERVIEW: (Please refer to https://forum.inverse.finance/t/proposal-for-growth-working-group/31 to see the formatted & itemized budget table):

### Organization

The GWG will be led by @patb (me) and should ideally include at least one additional co- leader, perhaps a marketing manager. Participants in the GWG will have opportunities to propose new GWG projects and experiments, which the GWG can discuss and if necessary conduct internal votes before proceeding. For “major” projects a proposal can be vetted within the GWG and then moved up to a vote by the full DAO.

### Transparency Commitment

Each month the GWG will share a report with the INV DAO that provides updates including

- Summary of funds spent
- Updates on funded experiments

### Action

- Approve an allowance of 150,000 DOLA to Growth Working Group 2-of-3 multisig wallet controlled by Pat, Xeno and the Deployer address 0x07de0318c24D67141e6758370e9D7B6d863635AA

REVISED PROPOSAL: Create a Growth Working Group with Initial Budget

# Launch Inverse Plus
Authors: @nourharidy @patB @nakamomo @n3bs @basedxeno @thealientourist @cryptoharry 

**Objectives of INV+**

- Increase treasury and liquidity holdings in order to increase the supply of lendable DOLA towards our goal of 1 billion DOLA circulation by the end of 2022.
- Ensure that the Inverse product line is optimized for maximum performance and competitive strength
- Expand INV & DOLA LP bond capacity via Olympus Pro
- Transition the INV governance token to a model with expanding supply that will accrue value based on DOLA lending revenue

**Core Proposal Features**
 
- Positive Sum Rewards Token.
- xINV Continuous Rewards
- DOLA Revenue Sharing Rewards
- Permanent protocol-owned liquidity
- Low-interest DOLA borrowing

**Summary of Continuous xINV Reward Rate Framework**

- With INV+, xINV rewards occur on a near-constant basis, not an arbitrary interval (e.g. 8 hours). Continuous rewards are issued with the creation of new Ethereum blocks https://ycharts.com/indicators/ethereum_blocks_per_day which today are mined 6400 times per day. 
- The amount of xINV rewards received by stakers is determined by a Policy Committee initially comprised of seven members who monitor and adjust the xINV Continuous Rewards rate with the following goals and criteria in mind:
     - Grow the Inverse Treasury to support at least 1 billion in circulating DOLA on a sustained basis by the end of 2022.
     - Issue rewards within the aggregate limits set by the GovernorMills voters, who are responsible for replenishing the INV Continuous Rewards allocation approximately every 90 days.
     - Limit sudden downward price action linked to changes in the xINV Continuous reward rate 
- With an initial allocation of 15,500 INV for purposes of xINV staking rewards, a base reward rate APY of 100% is anticipated, with an initial cap of 500%. 
 
**Policy Committee To Manage xINV Reward Rates and LP Bond Allocations**

- A Policy Committee will be responsible for setting reward rates for xINV as well as allocating INV for LP bonding campaigns. 
- The Policy Committee will submit a new request for minting of INV to the treasury approximately every 90 days for these purposes via GovernorMills.
- The Policy Committee will be comprised of 7 INV team members who have been active in the development of INV+ and will serve on the committee for a one year term:
     -  Nour, patb, BasedXeno, thealientourist, nakamomo, n3bs, and cryptoharry. 
     - No additional compensation for serving on this committee is required. Inactive or retiring committee members may be replaced by vote on GovernorMills. 
     - Voting requires 5 members to achieve quorum and decisions are decided by majority vote though the committee will endeavor to reach unanimous consent on rewards decisions. 
- Reward rate changes are implemented by the Policy Committee using the Policy Committee multisig wallet. 

**On-Chain Actions To Approve**

- Move ownership of the xINV contract to the new xINV Manager contract
- Set a hard cap of 0.085616438356 per block for xINV reward rate
- Set xINV reward rate to 0.0260416666666667 per block (5000 INV per month)
- Set xINV withdrawal delay to 0 days
- Authorize a 15,000 INV allowance to Policy Committee multisig to be used for refilling OP Bonds over the coming months.
- Authorize 15,500 INV allowance to the xINV contract from the Inverse treasury to be used as xINV rewards.

Launch Inverse Plus

#  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.

Launch An Analytics Working  Group and Fund Certain Analytics Costs

# 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

BadgerDAO: DOLA Fed for Rari Fuse Pool 22

# Authorize Compensation for Inverse Finance Core Contributors 
Proposal - Authorize Compensation for Inverse Finance Core Contributors 

SUMMARY

Proposal to create allocation of vested INV tokens for core contributors to Inverse. 

BACKGROUND

Inverse Finance is entering a new period of growth as we move towards product-market fit and solidify our position in the DeFi ecosystem. Up until now we have moved forward largely based on the incredible efforts of a handful of motivated, part-time volunteer contributors. In order to accelerate our growth and enhance Inverse's organizational abilities, the time has come to properly incentivize & reward our core contributors in a professional manner.

To attract top talent and align their interests with INV holders and the DAO, Inverse will reward core contributors with vested governance tokens in a way that is comparable to other DeFi projects. 

NOTE: Nour's existing vesting contract will be replaced with a new xINV-staked vesting contract of the same amount and duration.

ACTIONS

Governance Token Allocations for Core Contributors (All allocations vesting for 24 months)

- Allocate 1,000 INV tokens to Patb (Head of Growth, salaried, 0xE58ED128325A33afD08e90187dB0640619819413); calculated from 06/11/2021

- Allocate 650 INV tokens to theAlientTourist (Senior Frontend Engineer, salaried, 0x34A7a276eD77c6FE866c75Bbc8d79127c4E14a09); calculated from 01/11/2021

- Allocate 500 INV tokens to Naoufel (Data & Analytics, salaried, 0xFDa9365E2CDf21d72cb0dc4F5FF46F29e4aC59CE); calculated from 04/02/2022

- Allocate 500 INV tokens to BasedXeno (Operations, core contributor, 0xb9f43e250dadf6b61872307396ad1b8beba27bcd); calculated from 01/11/2021

- Allocate 300 INV tokens to CryptoHarry (Treasury Management, salaried, 0x962228a90eac69238c7d1f216d80037e61ea9255), calculated from 04/02/2022

- Allocate 300 INV tokens to N3bs (Treasury Management, core contributor, 0xad4a190d4aea2180b66906537f1fd9700c83842a), calculated from 04/02/2022

- Allocate 100 INV to Akarin (Mod / Social Media, core contributor, 0xD32066c2E31961aDf2A6fd0D57326dFf1e33FC29); calculated from 01/11/2021

- Allocate 100 INV to 99Donuts (Mod / Social Media, core contributor, 0xC8A6fDd2586AF7980776DC610C159A92E9Db11C3), calculated from 01/11/2021

- Allocate 100 INV to Karm  (Mod / Growth, core contributor, 0x2723723FDd3Db8ba2D6f0e1B333e90A7E60A0411), calculated from 01/11/2021

- Governance Token Allocations for Project Contributions (Non-vested)

- Allocate 40 INV tokens to Nakamomo (0xbb20d477d4f22d7169ad4c5bd67984362be8bad0) for Inverse Plus project management; no vesting


Terms of Allocation

Vesting is over a period of 24 months from the date of calculation unless otherwise specified

Vesting continues automatically unless the Funding Committee votes to confirm that the core contributor is no longer providing productive input to Inverse Finance, or if the DAO votes to terminate the contributor.

Authorize Compensation for Inverse Finance Core Contributors

# Create a Treasury Working Group
Written by: @cryptoharry and @n3bs (with assistance from many others!)

Please see Forum post: https://forum.inverse.finance/t/proposal-to-create-a-treasury-working-group/104

# Summary

90-day trial of Treasury Working Group within the Inverse DAO to address a range of treasury-related areas currently unaddressed.

# Background

Inverse Finance is looking to grow organic demand for DOLA across all chains. With the launch of Inverse Plus, the Inverse DAO Treasury is expected to grow rapidly due to increased bonding. However, today there are few ways for the Inverse DAO to utilize this capital to take advantage of the many opportunities that arise.

For example, there have been numerous high growth opportunities for DOLA on Fantom as well as other chains such as Avalanche (that we have yet to officially expand to). There is significant demand on these chains for DOLA borrowing, but Inverse Finance has not been able to take the opportunities due to low AMM DOLA liquidity in these ecosystems. This low liquidity is due to Inverse not being able to incentivize people to hold DOLA LP positions as we can on Ethereum. This means that if there were to be a large influx of DOLA borrowing, there would be a high chance of DOLA losing its peg to the dollar on these chains.

It is recommended that a Treasury Working Group (TWG) is formed to optimize the management of the Inverse Treasury assets to create the best environment for DOLA to grow into a leading stablecoin.

# Objectives:

Optimize Inverse DAO revenue through treasury assets’ capital allocation such as cross-chain liquidity.
Create optimal conditions for Inverse Finance to grow DOLA’s use in the DeFi ecosystem, particular cross chain.
Assist with and execute potential OTC deals and DAO swaps that bring value to the Inverse DAO.
Bring dedicated finance talent to leadership areas within the Inverse DAO.
All responsibilities (outlined below) will be carried out using a dedicated TWG Multisig. It should be noted that a Multisig is required as the majority of the actions (discussed in the responsibility section below) would be impossible to implement via governance votes alone due to the time delay and being restricted to the Ethereum blockchain only. The DAO will grant allowance approvals to the multisig, which allows the TWG to pull out funds from the treasury to execute on responsibilities up to the cumulative value of the allowance approved. These allowances can be revoked and changed by the DAO at any point through an on-chain vote, ensuring decentralization. The allowances assigned to the TWG Multisig are meant as maximum limits for the Multisigs, and all funds will remain in the Treasury unless transfers are made by the Multisig in the future. Any time the TWG conducts any kind of asset rebalancing, the allowance for that asset will decrease. The size of each allowance the TWG is initially requesting to work with will be outlined below.

The Ethereum Multisig will require unanimous approval in order to execute any transactions. This means every member of the TWG has veto rights, so if a single member disagrees on a transaction then it will NOT be executed. This ensures full accountability from every TWG member for each transaction that gets executed.

On the Ethereum blockchain, NO assets will be held in the TWG Multisig. After transactions are complete, ALL assets will be transferred back to the Treasury wallet. The TWG Multisig wallets on other chains (such as Fantom) will require m-n approva (less signatures required than total number on the wallet) in order to execute transactions. This means that there is no single point of failure when returning funds back to the Treasury on the Ethereum blockchain if 1 signer were to lose access to their wallet. Currently the plan for cross-chain Multisigs is to require a 3 of 5 quorum to execute transactions, with 2 of the signers being “safety” signers who are there for the purpose of returning funds back to the treasury in the case of one of the main signers losing access to their wallet.

# TWG Allowance Approvals Justification

Treasury actions are expected to be fluid and dynamic as opportunities arise for Inverse Finance to act on.

Below we provide examples of actions to be taken by the TWG

### Deploying Additional Liquidity to Fantom

As part of the objectives TWG needs to optimize cross-chain liquidity.

Today there is only ~$750K liquidity on DOLA-2Pool, of which nearly 100% is owned by Nour personally, thus there is no protocol owned liquidity on FTM. If Nour were to withdraw this personally owned liquidity, the DOLA ecosystem on Fantom would be decimated.

To address this TWG intends to do the following

Replace existing DOLA-2Pool liquidity with protocol owned liquidity
Add additional liquidity on DOLA-2Pool
This will initially require $1MM in DOLA and $500K in DOLA-3Pool LPs, resulting in ~$1.5MM in protocol owned liquidity.

### Act on Backlog of OTC Deals

As part of the treasury objectives TWG (after working with risk) will have the power to execute OTC deals favorable to the treasury on behalf of the DAO. see below

Today there exists a backlog of potential OTC deals, these deals need to be vetted and executed, and sufficient liquidity set aside for future deals. see below

To address this TWG requests approval for $0.5MM of INV to facilitate current and future deals.

### Rebalancing of Pools and Adding Liquidity

As part of the treasury objectives TWG must ensure proper balancing of protocol owned liquidity across all chains.

Rebalancing is likely to cause a lot of approval churn
Approvals only track outflow, e.g. if TWG were to move $1MM DOLA in and out of the treasury 3 times, it would count as needing $3MM of approvals
TWG needs the option of adding additional protocol owned liquidity to pools such as INV-DOLA
Due to the points above, TWG needs sufficient approval across all pool related assets including DOLA, DOLA-3Pool LP, INV and INV-DOLA SLP. TWG requests the following approvals for each asset to allow sufficient flexibility in rebalancing and adding liquidity as needed

| Asset         | Amount |
| ------------- | ------ |
| DAI           | $75K   |
| DOLA          | $0.5M  |
| DOLA-3Pool LP | $1M    |
| INV           | ~$0.5M |
| INV-DOLA SLP  | ~$1M   |

### Rewards

To fulfill responsibilities of compensating ad hoc community contributors and repaying their gas, TWG requests an allowance of 500 INV.

### Compensation

To back pay cryptoharry and N3bs for work carried out in March, and then pay N3bs on an ad-hoc basis going forwards for 90 days (paid by the hour, rather than a set figure), TWG requests an allowance of 17,500 DOLA.

No more than 5000 DOLA will be compensated in a single month, and this is a maximum; the actual amount paid is likely to be less.

### Approval Totals

|               | Initial FTM Liquidity | OTC    | Rebalancing / Liqudity | Community Rewards | TWG Ad Hoc Comp | Total    |
| ------------- | --------------------- | ------ | ---------------------- | ----------------- | --------------- | -------- |
| DOLA          | $1M                   |        | $0.5M                  |                   | 17,500          | $1.5175M |
| DAI           |                       |        | $75K                   |                   |                 | $75K     |
| DOLA-3Pool LP | $500K                 |        | $1M                    |                   |                 | $1.5M    |
| INV-DOLA SLP  |                       |        | ~$1M                   |                   |                 | ~$1M     |
| INV           |                       | ~$0.5M | ~$0.5M                 | ~$250K            |                 | ~$1.25M  |

# Responsibilities for the TWG:

### Capital Allocation

* Analyze/monitor current LP pairs on Ethereum and cross-chain in order to optimize allocation to provide support for DOLA’s expansion and stability.
* Analyze new LP pairs in order to accelerate growth. For example, supplying protocol-owned DOLA liquidity on chains such as Fantom and Avalanche will allow Inverse Finance to expand into previously “out of reach” lending markets.
* Identification and execution of Whale Extractable Value acquisition opportunities (WEV definition: https://docs.inverse.finance/inverse-finance/basics/features-and-applications#whale-extractable-value-wev-acquisition-yield-farming )
* Diversification of treasury assets to maximize utility.

### OTC Deals and DAO Swaps

* OTC Deals - complete thorough analysis on OTC Deal requests and execute on terms favorable for the Inverse Treasury.
* Small to medium OTC deals related to personal swaps will be negotiated and serviced by the TWG team, with other departments such as risk will be involved before execution (likely executed using a 3rd party escrow smart contract).
* Larger OTC deals, especially ones that can be categorized as VC deals will require collaboration with other Inverse DAO departments (Growth, Risk, Marketing etc) to be part of the negotiating and process in general. These deals will likely need individual DAO gov proposals in order for TWG to execute to increase the INV allowance approval for the deal.
* DAO Swaps - assist and analyze potential DAO Swap transactions with protocol partnership that bring value to the Treasury working closely with Risk and Growth teams.
⋅⋅* DAO swaps will likely be common when partnering with new lending protocols (when DOLA Fed is added to the supply side of a lending market) to solidify the partnership between the DAOs. While this ultimately will be executed by TWG, the GWG owns the negotiation and discussion while utilizing the TWG as support.

### Financial Reporting

* Creation of regular reports on the treasury activity (revenue, costs, growth etc).
* Forward looking forecasts of treasury growth.

### Inverse Community

* Providing updates to the DAO through written text and the regularly hosted community calls.
* Creation of TWG channel in Inverse Discord for any members of the Inverse DAO to come with any treasury or finance-related questions.
* TWG decisions will be data backed, with this information being regularly presented to the DAO in the necessary channels.

### Payroll and Rewards

* The TWG will receive the fundingCommittee role for Inverse Finance’s payroll contract from the rewards committee. This allows for management of contributors on the contract.
* The TWG will be responsible for distribution of INV rewards for ad-hoc community contributions. The TWG will meet every 2 months with contributors and the community to discuss who from the community deserves INV rewards.
* These responsibilities were previously carried out via the Rewards Committee, the new TWG will replace the responsibilities previously held by the rewards committee.

## Collaboration Across the Inverse DAO:

The TWG will work with other Inverse DAO departments and members as required. Particularly, with the Growth, Risk and Data Analytics groups. The TWG keeps closely aligned with other Inverse Finance departments in order to ensure maximal and sustained DOLA growth in the DeFi ecosystem.

## TWG Members:

The TWG is currently being formed by @Nour, @cryptoharry and @n3bs. @cryptoharry and @n3bs will continue to contribute to the Inverse DAO on a part-time basis.

@cryptoharry will be designated as the Head of Treasury.

The Head of Treasury role does not carry any additional authority or power relative to other TWG members. The position does take extra responsibility and accountability to ensure that the TWG continues to get work done and delivered, constantly with their finger on the pulse of all Treasury responsibilities. Conversations and commitments will often be opened and led by the Head of Treasury. Using written and verbal communication, the head will often represent the TWG to the DAO. Other TWG members are individual contributors who are still expected to use their intuition and proactivity to carry out everything listed for the Head of Treasury. However, the Head of Treasury can ultimately be held accountable if the TWG does not fulfill its responsibilities (beyond TWG not reaching quorum on transactions).

There will be opportunities for Inverse DAO members to make paid contributions on an ad-hoc basis to the TWG. There also may be opportunities to expand the size of the TWG in the future. All Inverse DAO members are welcome to join when the TWG starts expanding, but members with backgrounds in finance, accounting, treasury management, liquidity, risk, and similar functional areas are especially welcome.

## Actions:

* Set up the TWG Multisig wallet on Ethereum and another on Fantom. The Etherum multisig wallet will have the following signers: @Nour @cryptoharry @n3bs. The Fantom Multisig will have the following signers: @Nour @cryptoharry @n3bs @knockerton @theAlienTourist
* The Ethereum multisig will require 3-of-3 signatures for pulling funds out of the Treasury and all other Ethereum transactions. Cross-chain Multisigs will be 3-of-5 for holding capital and transactions (2 safety signers (@knockerton @theAlienTourist) included to return funds directly to treasury in the case the 1 or 2 of @nour @cryptoharry @n3bs loses access/control to their wallet unexpectedly).

## On-Chain Actions:

* Set Rewards Committee multisig allowance to 0 INV
* Update payroll contract FundingCommittee to TWG Multisig from Rewards Committee Multisig
* Reduce reserves from anDOLA contract by 125,000 DOLA
* Approve allowance of 1,517,500 DOLA ($1.5175m) to the TWG Multisig
* Approve allowance of 75,000 DAI ($75k) to the TWG Multisig
* Approve allowance of 1,500,000 DOLA-3Pool LP ($1.5m) to the TWG Multisig
* Approve allowance of 31,000 INV-DOLA SLP (~$1m) to the TWG Multisig
* Approve allowance of 5,200 INV tokens (~$1.25m) to the TWG Multisig

Create a Treasury Working Group

# INV+ Token Mint and Renew xInv and Unitroller's Allowances
INV Token Mint

The INV+ proposal that passed in early February represented a shift in tokenomics, away from a max supply of 100,000 INV tokens to a new model that allows for rapid growth of the protocol while keeping stakers protected from any dilution.

In accordance with the goals initially set out in the INV+ proposal, the time has come to mint new INV tokens in order to ensure the continued operations and success of Inverse Finance. 

The current Inverse Finance Treasury is due to reach the current max supply of INV tokens between 28th March and 1st April, so it is imperative that new INV tokens are minted prior to this.

As laid out in the INV+ proposal, the plan is to do a mint proposal approximately every 90 -days. The Policy Committee is recommending that 40,000 INV tokens be minted, to cover the next 90-days of estimated INV staking rewards, Anchor rewards, and our Olympus Pro bonding program. 

This proposal however is NOT a guarantee of future INV emission rates, the Policy Committee retains the responsibility to adjust emission rates as they see fit in the best interest of the Inverse Finance DAO. 
This means that the next INV mint proposal may be required sooner than 90-days from now, or later if the INV emissions are less than predicted.
Keep an eye on the #general-policy channel on Discord to stay up to date

On-chain actions:

- Mint 40,000 INV into the Inverse Finance Treasury.
- Set allowance of 25,000 INV to the xINV staking contract.
- Set allowance of 10,000 INV to the Anchor Unitroller.

INV+ Token Mint and Renew xInv and Unitroller's Allowances

# Switch Anchor stETH price feed to Chainlink
Currently, the Anchor stETH market is using a custom TWAP oracle maintained by the LIDO team. This feed was built because there wasn't an available Chainlink feed for stETH at the time.

Now that Chainlink has delivered a stETH/USD price feed on Ethereum, there's no need to rely on the LIDO team's feed anymore.

ACTIONS
1. Switch the stETH price feed from LIDO's custom TWAP oracle to a Chainlink stETH/USD feed

Switch Anchor stETH price feed to Chainlink

# 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

FODL Finance: DOLA Fed for Rari Fuse Pool 127 - 0xB1's Kitchen Sink

# ## Draft Proposal For Community Working Group
Written by @Nakamomo :space_invader: +#0165

### Summary

This proposal aims to create an experimental (3 month) Community Working Group and operating budget to boost community participation and facilitate communication within the Inverse Finance DAO.

### Background
Inverse Finance’s community activity is increasing and is adding new members on a daily basis. A few diligent contributors have stepped up, some recently and others for more than one year, mostly on an ad hoc and voluntary basis until the Growth Working Group was formed to enhance our efforts in business development and marketing.

The Inverse Finance community is in need of its own strategic focus in collaboration with but independent of the GWG. It is widely acknowledged that community is a strategic “moat” for many DAO’s where a great community can sustain even a mediocre product offering, while a great product without the right community behind can suffer from slow adoption or even failure. Inverse today is somewhere in the middle of these two extremes.

As Inverse positions itself to scale to 1 billion in DOLA circulation, the timing is good for a more concentrated effort to build the Inverse Finance community.

### Proposal
I propose the creation of an Inverse Finance Community Working Group (CWG), as an experimental effort which, if successful, can be extended by future DAO vote.

### Responsibilities for the CWG would include:

**Community Recruitment**

Onboarding new members
+ The Inverse DAO has been inconsistent in providing a good onboarding experience for new members and CWG will make efforts to improve it including regular onboarding calls for new members, new documentation to assist new members, and a better Discord channel to facilitate new members. It is also an opportunity to encourage new members to become immediately active on Twitter and other social media as part of the onboarding process.

Defining roles for incoming members
+ Design more defined roles for incoming DAO members so every new member can see clearly how they can participate and what is expected. Clarify the way we set compensation for members of the DAO.

Improve global member recruitment
+ Inverse’s representation from some global communities could be improved, for example in China. The CWG will look at best practices in other DAO’s for improving the global diversity of our community.

Managing Job advertisements.
+ Inverse WG’s have hiring needs and the CWG can assist in posting new job openings on web job boards and spreading the word about open positions, as well as compensating DAO members for referrals.

**Community Engagement**


DAO Events
+ CWG will host regular community calls

+ CWG will organize other community-wide calls to promote new products, partnerships, or other noteworthy events taking place.

Contests
+ Our recent logo contest was a good example of getting new members engaged but there are other contests we can run to attract new members and engage current members.

Games
+ Collaborate with Akarin from GWG who has been leading our poker nights Other games considered are Jackbox, virtual Jenga, Karaoke. We can also have poker tournaments or play other games in metaverse spaces such as Decendtraland or gather.town

Surveys
+ Use suitable tools to get a better understanding of the types of events that the community members are interested in and to measure the ongoing pulse of the community/find new ways to improve the Inverse community

Partner Events
+ DAO-wide AMA’s with Partners
Floki invited Nour to an AMA at their TG channel when we added FLOKI as collateral to Anchor. Inverse can have similar events inviting leaders from partner projects to our community stage for AMA’s, etc.

**Governance**

+ Raising awareness of new proposals, voting opportunities
We can do more to encourage comments and inputs on new proposals

+ CWG can organize, if desired, community-wide calls to discuss new proposals

Pose questions to delegates
+ One of the pillars of IF’s governance system is the ability to delegate votes and to take the role of a delegate, and vote on the behalf of your delegators. CWG will pose public questions to the delegates in order to stimulate conversation as new proposals come forth.

+ Delegate AMA’s

**Other**
+ Inverse merch store. There have been several efforts to get IF specific merchandise in the past and CWG will set out to complete the task.

**Organization**

The CWG will be led by @nakamomo who will serve as chair of the CWG. Participants in the CWG will have opportunities to propose new CWG projects and experiments.

**Budget**

I forecast a 90 day budget of 20,000 DOLA as full-time salary for Nakamomo who has been a very active member in several parts of Inverse DAO, officially as Project Manager for the launch of INV+ since December. I also anticipate a modest amount of spending for ad-hoc contributors to the CWG for things like research, articles, recording calls and interviews or referral bonuses for those introducing us to new engineering candidates or other valued contributors. I am also anticipating up to 16,300 in DOLA during this period for job advertisements, gaming expenses, and a small amount of INV-branded merchandise to be used for giveaways and incentives that we create through a new Inverse merch store or suitable outlet.

**Category** | **Description** | **Estimated 3 Month Costs**
--- | :---: | ---: 
Salaries | Nakamomo (FT) | 20,000
Ad-hoc contributions | TBD contributions to CWG efforts| 6,000
Recruiting | Job Advertisements	| 2,000
Events	| Gaming licenses, Prizes	| 2,500
Merchandise & Art | Payments for art/design work done on behalf of CWG | 1500
3 Month Total | | 32,000 DOLA

This budget is an estimate of the maximum I expect to spend during this test and any unused funds will be returned to the treasury. A Gnosis multisig wallet (2 of 3) will be created. The signers are @Nakamomo, @patb and @cryptoharry

**Transparency Commitment**

Each month the CWG will share a report with the INV DAO that provides updates including

+ Summary of funds spent
+ Updates on funded experiments

## Draft Proposal For Community Working Group

# Authorize DOLA Compensation for Inverse Finance Contributors
## SUMMARY

Proposal to provide base compensation to two contributors, CryptoHarry and Naoufel.

## BACKGROUND

Inverse DAO is enduring a period of growth as we move towards product-market fit and solidify our position in the DeFi ecosystem. In order to accelerate our growth, ensure commitment to the Inverse Finance project and enhance Inverse’s organizational abilities, the time has come to bring in additional contributors in the areas of Analytics and Treasury Management. Following agreement with the core team it is proposed to hire Naoufel on a full-time basis (40 hours per week) and CryptoHarry on a part-time basis (20 hours per week).

 ## ACTIONS

Allocate a total of $15,000 per month to compensate 2 contributors: CryptoHarry (Head of Treasury, part-time, 5000 DOLA per month), Naoufel (Head of Analytics, full-time, 10,000 DOLA per month).

Authorize DOLA Compensation for Inverse Finance Contributors

# Extend Governance Proposer Whitelist
# Proposal Threshold
Right now only members with more than 1000 voting power can submit on-chain proposals, which can be too restrictive.

# Proposer Whitelist
Governance has a proposer whitelist system that allows anyone on that list to submit on-chain proposals even without any voting power. Adding more people to the whitelist has been discussed before as way to get more people involved in Governance and increase its pace.

# Criterias for whitelisting:
- Is a Core Member
- Is Member of at least one Inverse Multisig (Policy Committee, GWG, TWG, AWG, etc)
- Has at least a minimum Knowledge of Inverse's Contracts
- Has Less than 1000 voting power

# Suggested New Addresses to the whitelist according to the Criterias:

- CryptoHarry (0x962228a90eac69238c7d1f216d80037e61ea9255)
- N3bs (0xad4a190d4aea2180b66906537f1fd9700c83842a)
- Naoufel (0xFDa9365E2CDf21d72cb0dc4F5FF46F29e4aC59CE)
- TheAlienTourist (0x6535020cCeB810Bdb3F3cA5e93dE2460FF7989BB)

Extend Governance Proposer Whitelist

# Inverse Finance Bug Bounty Program
Written by @Crypterist @Nakamomo 

**Background & Problem**

Bugs are an inevitable part of developing new software products. Today, Inverse relies on internal and volunteer members of the DAO for software development; however, our internal quality assurance processes should also include a way to leverage the skills/resources from contributors who specialize in looking for security-related bugs. Keeping this QA process in-house also carries a high opportunity cost within our engineering team and regardless would require recruiting/ building specialized capability. One crypto industry norm is to offer incentives to appeal to whitehat code testers in order to encourage them to test Inverse’s smart contracts and other code for security and other vulnerabilities.

**Bug Bounty Incentive Programs**

A common solution to “bulletproofing” smart contracts and other open source software for crypto DAO’s is a bug bounty program. Any bounty hunter is one who studies our code and business from an adversarial perspective and can make use of their own tools and techniques to identify vulnerabilities in the lookout for a reward or a bounty.. 3rd party platforms offer secure bug reporting processes (eg. Immunefi.com takes a 10% fee). Size of the rewards are based on the bounty's vulnerability risk rank. 

**Benefits Of A Bug Bounty Program**

Identify security-related bugs in a collaborative/friendly manner with white hat researchers
Highlights Inverse’s commitment to both security and transparency
“Checks a box” for partner and investor due diligence
As we aspire to grow to a business 1 Billion DOLA in circulation in 2022, emphasizing our commitment to mitigating risk is of paramount importance.

**Costs of a Bug Bounty Program**

Bug bounty rewards vary across DAOs. For example:

| Name | Critical | High | Medium | Low | Market Cap |
| --- |:---:|:---:|:---:|:---:| ---:|
| MakerDAO |:100,000:|:5,000:|:2,500:|::| 227,915,977:|
| Olympus |:$3,333,333:|::|::|::| 677,344,667:|
| Tokemak |:20,000:|::|::|::| 209,537,167:|
| Sushi |:100,000:|::|::|::| 1,228,366,408:|
| GMX |:50,000:|:25,000:|:10,000:|::| 60,527,582:|
| Spookyswap|:50,000:|:15,000:|::|::| 762,819,332:|
| Median |:75,000:|:15,000:|:6,250:|::| 452,630,322:|

**Bug Severity Examples:**

+ Critical 	- Empty or Freeze the Smart Contract Holding, Holding Value at Risk
+ High    		- Token holders temporarily unable to transfer holdings
+ Medium	- Contract consumes unbounded gas
+ Low                 - Contract fails to deliver promised returns, but doesn't lose value

Following 2 links give helpful information on Risk Rating and Severity Ranking of Vulnerabilities.
https://owasp.org/www-community/OWASP_Risk_Rating_Methodology
https://immunefi.com/severity-updated/

**Managing a Bug Bounty Program**

+ One popular website used to post and organize bug bounty programs is ImmuneFi. It offers access to an army of whitehat hackers who hunt for bounties and who when they identify a vulnerability will let us know in a safe and secure workflow that is managed by Immunifi.
+ Crypterist will be managing the bug bounty program for Inverse. He was a Certified Information System Security Professional prior and is experienced working on Software Security and Risk Mitigation. He has worked with Auditors like Grant Thornton to put close to 400 Security controls in his earlier professional career. If a bug is discovered within the Immunifi community, he will help organize the internal effort to validate the alleged vulnerability/workflow, resolve the bug (if necessary), and work with the Growth Working Group (if necessary) should the existence of the bug become public and any external/public messaging is required.

**Proposal

There are 3 Goals for this proposal. 

+ 1.To establish how much will we agree to pay when setting up a bug bounty
+ 2. How will we pay once we receive the bug report
+ 3. To fund an initial budget allocation for payment of High and Medium severity bounties**

We will employ a 3rd party vendor for bug bounty services with the following reward rate guidelines:

| Severity |:Critical (DAO vote):|:High:| Medium:|
| --- |:---:|:---:| ---:|
| Rewards |:50,000+:|:5000:| 2500:|

+ Reward Payment in DOLA
+ 3rd party vendors take a fee in addition to the bounty (Immunefi charges 10%).
+ Critical severity bugs require a DAO vote and case by case consideration.

We consider bug bounties to be a lasting complement to any in-house security audit capabilities that Inverse Finance develops.

We request an allowance of up to $25,000 DOLA in 2022 for low or medium-severity bug bounties using an allowance for a SecOps multisig wallet.
Rewards for high or critical severity bugs will require a separate funding mechanism (e.g. from Treasury reserves) that would be requested on a case-by-case basis and which would require a GovMills vote. 
Payout to white hats and vendors will be documented as Security Advisory Services to ensure that we don’t signal information of any adversarial attacks to malicious actors.


**List of Smart Contracts Eligible for Bug Bounty Program:**

+ Anchor Comptroller
+ Bonds Manager
+ Stabilizer
+ Treasury
+ Xinv Manager
+ DolaFlashloanMinter
+ Governor Mills
+ xINV
+ Oracle contract
+ Escrow
+ INV
+ All contracts used or authorized by on-chain proposals
+ Dola
+ Fed Anchor
+ Fuse Pool 22f
+ Policy Committee
+ Fed Fuse6
+ Fed Scream

**Other applications eligible:**

+ Inverse Website
+ AnchorPro

**Items that are explicitly excluded from the bug bounty program:**

+ Any testing with mainnet or public testnet contracts; all testing should be done on private testnets
+ Any testing with pricing oracles or third party smart contracts
+ Attempting phishing or other social engineering attacks against our employees and/or customers
+ Any testing with third party systems and applications (e.g. browser extensions) as well as websites (e.g. SSO providers, advertising networks)
+ Any denial of service attacks
+ Automated testing of services that generates significant amounts of traffic
+ Public disclosure of an unpatched vulnerability in an embargoed bounty

**Out of Scope & Rules**

The following vulnerabilities are excluded from the rewards for this bug bounty program:

+ Attacks that the reporter has already exploited themselves, leading to damage
+ Attacks requiring access to leaked keys/credentials
+ Attacks requiring access to privileged addresses (governance, strategist)
+ Incorrect data supplied by third party oracles
+ Not to exclude oracle manipulation/flash loan attacks
+ Basic economic governance attacks (e.g. 51% attack)
+ Lack of liquidity
+ Best practice critiques
+ Sybil attacks

Inverse Finance Bug Bounty Program

#  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

Proposal to Whitelist DOLA Fed for Rari Fuse Pool 24 “Harvest FARMstead”

# 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

Reduce INV Rewards for WBTC, ETH, YFI, xSUSHI, INV-DOLA SLP, and FLOKI. Modify Certain Other Features of Anchor

# Stop bad debt from accumulating further
Background

Following the INV price manipulation incident that occurred on April 2, 2022, bad debt is increasing at a rate of ~$20k/day on WBTC, ETH, and YFI.

As a temporary measure we propose setting interest rates on WBTC, ETH, and YFI to 0% to stop bad debt from accumulating further. Stopping the bad debt from growing allows the DAO to pay it off more quickly.

Prior interest rate models will be reinstated after reduction of bad debt and utilization rate.

On-Chain Actions: 
Set interest rate models on WBTC, ETH, and YFI to 0%

Stop bad debt from accumulating further

# Proposal to Launch a Yearn Fed
# Inverse Finance <> yearn.finance

As disclosed previously, Inverse Finance has entered the “Curve Wars” in order to significantly increase DOLA liquidity in the marketplace and enable new and faster revenue generation options for the DAO. Inverse Finance is planning on using a hybrid approach to gaining veCRV votes which includes a Curve Fed model similar to the Curve AMO model popularized by Frax Finance as well as “bribes” using platforms such as bribe.crv.finance and votium, in addition to  private bribes.

With Yearn, the proposal is to use a Fed model already in use with other Inverse partners albeit with some notable differences:

* An Inverse Finance controlled Yearn Fed mints DOLA into a private DOLA Yearn Vault.
* A private Yearn strategy extracts this DOLA and supplies it to the DOLA-3Pool Curve pool, and then farms CRV and CVX rewards using Convex Finance.
* Yearn compounds the rewards to profit. Yearn takes a 100% performance fee.

This entire process is carried out using trustless smart contracts, meaning at no point does either Yearn or Inverse Finance have access to the underlying DOLA or DOLA-3Pool.


## Benefits of this proposal

* This proposal will allow Inverse Finance to build extremely deep DOLA-3Pool liquidity on curve at essentially no cost. To-date, Inverse Finance has spent significant resources in the form of INV emissions in order to rent liquidity via Anchor and this proposal is designed to reduce our reliance on INV for liquidity rental. Liquidity rental on Anchor today currently costs the Treasury 920 INV per month.
* This proposal will benefit Yearn through improved increased revenue from their veCRV voting weight.
* Much deeper DOLA-3Pool liquidity will lead to greater revenue for the Inverse Treasury, unlocking many future opportunities for the Growth Working Group to explore.
* The requirements for a ChainLink oracle price feed is very deep liqudity on DEX’s, this will bring us closer to satisfying the requirements for DOLA.


## Proposal Terms

* Yearn will allocate an initial 10% of its veCRV gauge weight vote to the DOLA-3Pool for a minimum of 60 days. This is currently 2,428,625 veCRV, equivalent to $5.5m worth of CRV locked for 4 years.
* The Inverse Finance Fed Chair will manage the contraction and expansion of DOLA supplied by the Yearn Fed to ensure that the performance fee earned by Yearn is at least 2% greater than the opportunity cost of Yearn’s missed bribe revenue (e.g. SPELL). Inverse Finance commits to maintain  capital farming in the Yearn vault with a 50% performance fee for at least 20 days following Yearn’s initial 60-day vote obligation.
* Yearn agrees to not claim any additional INV tokens that are added on any bribe service for as long as this program lasts.
* If the Inverse Finance Fed Chair is unable  to meet the performance fee commitment required by Yearn due to adverse market conditions, the difference will be paid  via the TWG sending INV tokens to Yearn treasury.


## Changes to the Stabilizer

In order to reduce friction in the market, we propose a small adjustment to the fee incurred when using the stabilizer.
* When buying DOLA using DAI, a flat fee of 0.4% is charged. We propose leaving this unchanged.
* When selling DOLA to redeem DAI, a flat fee of 0.4% is charged. We propose reducing this to 0.1%. This ensures that if there is a market imbalance weighted towards DOLA, arbitrageurs can quickly reduce the imbalance provided there is DAI liquidity in the stabilizer.

## Looking to the future

There will shortly be another proposal to deploy an additional “Convex Fed”. This Fed will operate in a similar way to the Yearn Fed, except it is deployed directly to Convex Finance and 100% of the revenue will go to Inverse Finance treasury. This will allow Inverse Finance to collect CRV and CVX rewards at no cost, which will then be used to vote for the DOLA-3Pool Gauge in the future.

In addition to the Yearn veCRV votes, Inverse Finance Treasury Working Group is currently engaged with Curve “bribing” and will continue to do so in order to increase the overall votes going towards the DOLA-3Pool Gauge.

Proposal to Launch a Yearn Fed

# Proposal To Form a Risk Working Group
Author: @Edo

## Summary  

Form a Risk Working Group (RWG) to support all functions of Inverse Finance, including DOLA expansion, focusing on providing sound risk analysis, risk management, and risk monitoring for existing products and for the efforts of the other working groups.

Full proposal on Inverse Forum Here:  https://forum.inverse.finance/t/proposal-to-form-a-risk-working-group/119 

## The case for forming a Risk Working Group

Compared to traditional finance, significantly more risks are present in DeFi for individual users and protocols: malicious actors, esoteric smart contract risks, unknown correlations between tokens and projects, short track records, unproven and experimental economic theories, anon teams/devs, and the irreversibility of transactions to name just a few. The DeFi landscape is a perilous one and perhaps few feel this more at the moment than our DAO. It is of vital importance that we address the topic of risk comprehensively. The RWG’s directive is to ensure this.

Due to the early stage of risk management modeling in DeFi, RWG will approach its objectives using a mosaic approach –  select risk research and best practices from TradFi will be adapted and coupled with leading DeFi research and best practices. Given the strong investment acumen and expertise at Inverse Finance, we are well poised to innovate risk management practices for our own community members and the wider DeFi ecosystem.

The RWG will remain open to new ideas and continually search for improved, research-backed methods of analyzing, managing, and addressing risks. In time, the RWG will become an asset, and will ensure that value-add to the DAO is accompanied with an elevated and on-going degree of risk awareness.

## Risk Working Group Scope

Following months of discussion with core team members, and utilizing the foundational work of past DAO contributors, RWG will spearhead building out Risk Governance, which is comprised of:

### Risk Register [Identifying Risks]

* Collaborate with other working groups to understand, define, and document all risks associated with Inverse’s business operations, contributors, and investments.
* Set a recurring cadence to apply the risk identification process for existing products and new business opportunities to identify new and emerging risks.

### Risk Assessment Framework [Assessing/Evaluating Risks] 

* Develop a risk assessment methodology based on best practices from peer DAO’s and protocols (Yearn, Rari, Beefy, DeFiSafety, etc) to assess individual risks and accordingly assign safety scores to collaterals, money markets, oracles, protocols and liquidity pools.
* Partner with Analytics Working Group (AWG) to build proprietary tools to report risk assessment results efficiently and accurately to other working groups. 

### Risk Prevention and Mitigation Strategies [Preventing/Mitigating Risks] 

* Create a dashboard environment where the ‘health’ of all current DOLA Feds and Inverse Products is accessible 24/7; a necessary product to transition the management of DOLA Feds from Nour to a multisig-based AMO.
* Based on risk assessment results and an evaluation of current practices, formulate risk prevention and mitigation strategies consisting of policies, procedures, and/or controls to help prevent (where possible) and mitigate risks.

## A Collaborative Approach to Risk

A critical component in achieving our goals is establishing internal partnerships within Inverse. The table below lays out how Growth, Treasury, Operations, Analytics and Risk groups might interact. Even if daily operations of these groups are decentralized, a certain level of coordination will be necessary to ensure Inverse-wide objectives are met.

| Collaboration     | Scope of interaction (includes, but is not limited to)                                                                                                                             |
| ----------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| RWG <> All Groups | Identify and define risks to build the risk register                                                                                                                               |
| RWG <> GWG        | Score the various components of existing and prospective lines of business according to the risk assessment methodology to corroborate decision making                             |
| RWG <> TWG        | Score the various components of existing and prospective lines of business according to the risk assessment methodology to corroborate decision making                            |
| RWG <> AWG        | Create tools in the forms of queries, Dune dashboards, and eventually The Graph, to streamline reporting the various forms of risk undertaken by Inverse as it grows as a business |
| RWG <> OWG        | Build policies, procedures, and/or controls to help prevent and mitigate risks                                                     


## Risk Working Group and the DOLA Fed

As RWG directives are being developed, analytical tools devised to streamline the risk assessment framework can be repurposed to serve the Feds’ unique and innovative characteristics. In time, these will allow for automated mechanisms to manage interest rates via supply per our Fed contracts, as well as a more comprehensive monitoring process - integrating safety measures into the lending/borrowing properties via the Fed system.

Once established, the RWG will work towards gradually assuming management responsibilities for new and existing DOLA Feds in close collaboration with Nour Haridy. Through the use of a multisig-based AMO, the Fed management process will involve a team of core contributors and thus resolve one of the single points of failure that has most DAO members concerned. This process will take place in stages over the course of 2022 as the RWG and Risk Governance take shape. The specifics of the multisig (including number of members, approval threshold, whether Nour will have final word or be an equal voter) are outside the scope of this proposal.

## Roadmap/Next Steps

* Perform due diligence review process
* Continue performing due diligence work on a case-by-case basis.
* Collaborate with various working groups to identify existing risk-bearing lines of business that have lacked a risk-centric review and perform said review.
* Establish a communication chain with working groups to ensure Risk Governance is included in their operational workflows.


**Form Risk Working Group**

* Socialize and gather feedback on Risk Working Group proposal
* Post proposal to Forum and subsequently to for the DAO to vote upon
* Form the team (see below for additional details)

## Team Structure

The importance of a robust risk management function within Inverse Finance is hard to overstate at this moment. From providing ongoing due diligence for new lending opportunities, risk assessment of new liquidity strategies, to managing an increasingly complex and disparate array of DOLA Fed lending facilities, a solid Risk Management team is essential to the success of Inverse going forward.

To scale Inverse from a risk standpoint ultimately requires a multi-person team that is available to act 24 hours per day, 7 days a week. In addition, redundancies are required to review the work of members of the risk team and decisions with regard to the DOLA Fed, etc.

With this in mind, we propose the RWG be composed of at least one full-time contributor, hired on as a Risk Manager, and a part-time contributor at launch. Myself (Edo), and Karm, a trusted DAO member, are nominating ourselves for the Risk Manager and Risk Contributor positions. Depending on the growth prospects of the business in the next ninety (90) days, an assessment of the team’s progress should occur which may warrant the onboarding of additional full time contributors. In the interim, the DAO should make efforts towards hiring a Head of Risk. 

Below are job descriptions for the aforementioned job positions -

### Head of Risk

The Head of Risk position will have the following responsibilities in addition to those laid out in the Risk Manager job description: 

* Assume the role of the subject matter expert (SME) and provide a guiding vision for the RWG
* Build relationships with heads of other working groups and strategize the management of their risks through incorporation of Risk Governance in their operational workflows
* Enact a thorough, disciplined, and repeatable message to other working groups on RWG needs and findings
* Provide thought leadership to Inverse Finance and the broader DeFi community through articles, threads, speaking engagements, and various forms of media
* Oversee and guide the Risk Manager in carrying out their responsibilities


### Risk Manager

A Risk Manager will have the following responsibilities: 

**Identify Risks**
* Build and add to an archive containing risks the business is currently exposed to
* Enact an initial screening process for any new business opportunity brought forward by business decision makers

**Assess/Evaluate Risks**
* Devise assessment methodologies to quantify and qualify business decisions
* Create and use analytical software designed to improve efficiency and accuracy of calculating risks

**Prevent and Mitigate Risks**
* Prepare risk assessment write-ups to complement business proposals
* Monitor the health of ongoing business activities and report findings periodically
* Make strategic recommendations to prevent and reduce risk

In summary, the role of a Risk Manager will be to identify, assess, prevent, mitigate, and report on risks pertaining to existing and new lines of business. Managers will also advise on recovery actions for the DAO in the event of an exploit, breach, and/or loss of confidence. 


### Risk Contributor (Part-Time)

Areas of focus for a part-time contributors include (but not limited to): 

* Due diligence research with security assessments
* Monitoring the DOLA and INV ecosystems/exposures 
* Attend weekly working group sync-ups to report on progress and present findings
* Work with other working groups to understand risks at inverse finance including governance and policy risks


All RWG contributors will be responsible for creating, monitoring, and updating the Risk Governance framework. To perform such duties, they will need extensive industry knowledge, as well as a thorough understanding of the various working environments (e.g. Etherscan), and the ability to read smart contracts. A commitment to stay up-to-date with the latest advancements in the space is required. Previous experience in TradFi or DeFi risk management is preferred.

## Budget Request

The following table summarizes the budget spend for the RWG for an initial ninety (90) day period. Table figures are in $DOLA. 

|      | April  | May    | June   | 90-day TOT |
| ---- | ------ | ------ | ------ | ---------- |
| Edo  | 10,000 | 10,000 | 10,000 | 30,000     |
| Karm | 5,000  | 5,000  | 5,000  | 15,000     |
| TOT  | 15,000 | 15,000 | 15,000 | 45,000     |


## Actions

Enact the Risk Working Group into existence.

Allocate a total of $15,000 per month to compensate 2 contributors: 

1. Edo (Risk Manager, full-time) 10,000 DOLA per month

2. Karm (Risk Manager, part-time) 5,000 DOLA per month.

To incentivize the interest of the above members to the newly formed Risk Working Group and align their compensation with existing core contributors on the payroll, we propose an allocation of vested INV tokens. Per standard, vesting is over a period of 24 months from the date of calculation, and continues automatically unless the Funding Committee votes to confirm that the core contributor is no longer providing productive input to Inverse Finance, or if the DAO votes to terminate the contributor.

3.  INV Allowance action needed before the 2 new vestings actions, per @theAlienTourist, otherwise they will fail.

4. Allocate 500 INV tokens to Edo (Risk Manager, salaried, 0xED9376094Ce37635827E0Cfddc23bFbb6D788469); calculated from 01/03/2022

5. Allocate 200 INV tokens to Karm (Risk Manager; salaried, 0x2723723FDd3Db8ba2D6f0e1B333e90A7E60A0411); calculated from 15/04/2022

* Note: Karm is already on a vesting contract of 100 INV. An additional 200 INV tokens vested will be allocated to Karm for a total allocation of 300 INV tokens.

Per @Nour's and @CryptoHarry's suggestion, transfer partial April compensations to Edo and Karm leading up to April 21st (the assumed date of execution of this proposal). This would eliminate the need for an additional proposal requesting contributors' April salaries from the Growth Working Group's allowance.

6. Transfer 7000 DOLA to Edo (0xED9376094Ce37635827E0Cfddc23bFbb6D788469)

7. Transfer 3500 DOLA to Karm (0x2723723FDd3Db8ba2D6f0e1B333e90A7E60A0411)

Proposal To Form a Risk Working Group

# Reduce DOLA-3Pool Anchor INV Rewards
# Summary

As previously announced through socials, Inverse Finance has entered the Curve Wars!

Inverse Finance is using a range of techniques to secure veCRV voting weight, from partnerships (see Yearn partnership https://www.inverse.finance/governance/proposals/mills/21), private deals with whales and "bribing" using services such as Votium.

It has been deemed more capital efficient for Inverse Finance to use INV tokens as "bribes" in the curve wars than offering them directly as rewards on Anchor. Therefore, we propose to reduce the current INV rewards for DOLA-3Pool on Anchor to 0. This frees up an additional 950 INV per month that can be reallocated to Curve bribes instead, leading to more DOLA-3Pool liquidity than the $6.72m that these 950 INV currently attract within Anchor.

At the time of writing, there is $23.1m DOLA-3Pool liqudity in Convex, so if 100% of the $6.61m liquidity on Anchor disappears, the DOLA peg will still remain strong.

On-chain action: Reduce DOLA-3Pool Anchor INV rewards to 0

Reduce DOLA-3Pool Anchor INV Rewards

# Transfer Naoufel allowances to Analytics WG Multisig
Transfer of Analytics WG allowance defined in Mills Proposal 7 (cf https://www.inverse.finance/governance/proposals/mills/7)

The new Analytics Multisig will be used to manage The Graph operations on chain as well as operating the Analytics WG budget.

Additional signers from the team will be added once the initial setting is completed (tba).

Transfer Naoufel allowances to Analytics WG Multisig

# Authorize DOLA Payroll for Solidity Engineers 0xMT and yellowtail
SUMMARY
This proposal is to provide base compensation to our two new contributors, 0xMT and yellowtail, and aims to reward their efforts competitively. 

BACKGROUND
As we move towards product-market fit and solidify our position in the DeFi ecosystem, the time has come to bring in additional contributors to the critical area of Engineering. 

After completing a thorough technical & culture review process, we're extremely happy to welcome two full-time Solidity engineers to the Inverse family! Nour and theAlienTourist have done an incredible job with limited resources, yet it has been clear for a while that it was time to expand the engineering team and help us propel Inverse forward through 2022 and beyond: 0xMT and yellowtail are going to be great additions to the DAO.

ACTIONS
Allocate a total of 25,000 DOLA per month (2 x 12,500) to compensate 2 engineering contributors: 
0xMT (150,000 DOLA per year) and yellowtail(150,000 DOLA per year).

Authorize DOLA Payroll for Solidity Engineers 0xMT and yellowtail

# 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).

Authorize DOLA Payroll for GWG Contributors Marshmellow, & Ishita

# 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

Proposed Make-Good For Users Affected by April 2, 2022 Price Manipulation Incident

# Reduce Stabilizer DOLA Sell fee to 0%
We propose an adjustment to the fee incurred when using the stabilizer:

* When buying DOLA using DAI, a flat fee of 0.4% is charged. We propose leaving this unchanged.
* When selling DOLA to redeem DAI, a flat fee of 0.1% is charged. We propose reducing this to 0% (no fee). This ensures that if there is a market imbalance weighted towards DOLA on the DOLA-3pool Curve pool, arbitrageurs can quickly reduce the imbalance provided there is DAI liquidity in the stabilizer.

Currently ~$1.5M Dai are deposited in the Stabilizer. This proposal will unlock an arb opportunity between the Stabilizer and Curve, moving this amount from the Stabilizer to the Curve pool. The result of this arb opportunity will allow us to further expand our Yearn Fed expansions, and in the future, our Convex Fed expansions.

Reduce Stabilizer DOLA Sell fee to 0%

# 0xMT and yellowtails April Back Pay
# Summary

This proposal is for providing back pay for 0xMT and yellowtail for contributions prior to [Proposal #026](https://www.inverse.finance/governance/proposals/mills/26 "Proposal 26") execution.

# Details

All times in UTC

| Detail                    | Value          |
| ------------------------- | -------------- |
| Payroll Contract Executed | 5/5/22 4:21:17 |
| 0xMT Start Date           | 5/4/22 0:0:0   |
| Yellowtail start date     | 12/4/22 0:0:0  |
| 0xMT backpay days         | 30.18144676    |
| yellowtail backday days   | 23.18144676    |
| Dev yearly wage           | $150,000.00    |
| Dev daily wage            | $410.96        |
| 0xMT backpay owed         | $12,403.33     |
| yellowtail backpay owed   | $9,526.62      |

# Actions

* Transfer 12,403.33 DOLA to 0xMT
* Transfer 9,526.62 DOLA to yellowtail

0xMT and yellowtails April Back Pay

# Create a Fed Chair multi-sig to actively manage DOLA supplies to all Feds
## Summary

The Fed Chair is a trusted role. It is responsible for expanding and contracting DOLA supply instantly and infinitely which poses many security risks to the DAO. The Fed Chair currently being appointed to a single person (Nour) is a Single Point of Failure (SPOF) the RWG wishes to address. This proposal sets forth the motion to assign the Fed Chair role to a multi-sig composed of trusted core DAO members. The Fed Chair multi-sig would therefore assume the roles of Anchor Admins, as well as DOLA Operator.


## Recommendations

The Fed Chair role requires thoughtful interactions, as it's not only tasked with defending the DOLA peg, but also should work to maximize profits for the DAO while staying within the peg. In the case of emergency, the chair retains the ability to contract vulnerable DOLA supply across all markets

The RWG is recommending that each member of the Fed Chair multi-sig be doxed to other members, as well as 2 other parties in the DAO. If an anonymous signer or signers could act on large expansions this opens the room to collude with attackers for insurmountable losses. 

The multi-sig should be configured to address three parameters:
1.	Rapid response time
2. Wide availability
3. Consensus amongst relevant parties

As such, signers to the multi-sig should:
-	Represent different working groups
-	Be trusted DAO members and have a vested interest in the success of the DAO
-	Be spread out geographically in such a way that they cover different time zones.

## Solution

The RWG recommend we create a [2 of 5 Fed Chair Multisig](https://gnosis-safe.io/app/eth:0x8F97cCA30Dbe80e7a8B462F1dD1a51C32accDfC8/home) composed of the following signers:

-	Nour
-	Harry from TWG
-	Pat from GWG
-	Edo from RWG
-	Naoufel from AWG

Create a Fed Chair multi-sig to actively manage DOLA supplies to all Feds

# Proposal for Additional Funding for Security Related Services 
Original forum proposal: https://tinyurl.com/43ed8sxt

Authors: @Crypterist , @patb

**Summary**

Pay for security assistance rendered by Hacxyk. Retain them for a 3 month period for security services.

**Background**

Inverse needs to further instill trust within our community following the Apr 2, 2022 price manipulation incident. Including third parties in improving security and reliability of our products will be a renewed focus for Inverse Finance going forward.

**Proposal**

We have identified and interviewed a third party security consulting firm, Hacxyk, to assist us on an ongoing basis in reviewing front end code, oracles, and other security policies in order to augment our own in-house security expertise. Hacxyk has already identified areas for improvement in our security operations following our call for community involvement after April 2, 2022 and we believe that this firm can perform needed reviews and make non-software recommendations which will reduce our security attack surfaces.

We propose retaining Hacxyk on a part-time (average of 50 hours per month) at a rate of $10,000 per month for three months in addition to a one-time payment of $20,000 for assisting us during the month of April following the price manipulation incident of April 2nd. (Total of $50,000)

Proposal for Additional Funding for Security Related Services

# Extend Governance Proposer Whitelist
# Proposal Threshold

Right now members with more than 1000 (soon moving to 1400) voting power can submit on-chain proposals, which can be too restrictive.

# Proposer Whitelist

Governance has a proposer whitelist system that allows anyone on that list to submit on-chain proposals even without any voting power. Adding more people to the whitelist has been discussed before as way to get more people involved in Governance and increase its pace.

# Criterias for whitelisting:

* Is a core member
* Is a member of at least one Inverse Multisig (Policy Committee, RWG, GWG, TWG, AWG, etc)
* Has at least a minimum Knowledge of Inverse's Contracts

# Suggested New Addresses to the whitelist according to the Criterias:

* Edo (RWG) - 0xED9376094Ce37635827E0Cfddc23bFbb6D788469
* Karm (RWG) - 0x2723723FDd3Db8ba2D6f0e1B333e90A7E60A0411
* Nakamomo (CWG) - 0xBB20d477d4F22d7169ad4c5Bd67984362BE8bad0

# Increase Governance Quorum and Submit Proposal Requirements
Recently the DAO has voted in favor of and executed a proposal to increase total supply
https://www.inverse.finance/governance/proposals/mills/11. This change in supply warrants an updated governance quorum and submit proposal requirements to respectively reflect 5% total supply (7,000 votes) and 1% total supply (1,400 votes). These thresholds ensure high proposal quality and safeguard the DAO against governance attacks in time’s of weak markets.

Important to note that DAO Governance has consistently shown good health with 18 of the last 19 proposals receiving over 7000 for votes. The DAO has an active core group of delegates to submit proposals on chain, and a newly formed proposer whitelist of incentivized team members.

Increase Governance Quorum and Submit Proposal Requirements

# Re-Enable Anchor (1/n)
### Summary

The following is the first of a string of proposals intended to re-enable Anchor. This proposal and the others soon to follow will re-enable DOLA borrowing, new collateral assets, as well as perform other necessary on-chain actions. For gas-efficiency purposes, proposals on this topic posted after this one will be incomplete write-ups and will refer to this post as well as the original google docs which can be found here: [Let's Add New Anchor Collateral Assets](https://docs.google.com/document/d/1vWlgRs2wzAhCciVKnL-PsLCKxxjELqPtqEpFf_ohgjU/edit?usp=sharing)
 

### Background

In light of recent events, it is important to re-enable borrowing on Anchor as quickly and as prudently as possible. While our efforts to effect a make good for users affected by the April 2 price manipulation are well underway, it is urgent that we restart the revenue streams that Anchor provides us.

Beyond re-starting borrowing on Anchor, we propose a more aggressive portfolio of collateral assets and, ultimately, a richer feature set for Anchor that will drive TVL of at least $1 billion 2022.

### Proposal

In light of Inverse’s new partnership with Yearn and our emerging partnership with Convex, we propose adding derivative assets from those protocols as collateral on Anchor. This allows users to deposit assets in those protocols in order to earn yield, then deposit them in Anchor in order to earn additional yield in the form of INV rewards. Additionally, it provides the opportunity to borrow against those yield bearing assets and construct compelling DeFi strategies not previously available on Anchor.

The new collateral assets will be introduced as deposit-only and not available to be borrowed. To be clear, deposited (staked) assets may be used as collateral for DOLA borrowing.

Specifically, we propose adding the following collateral assets to Anchor:

1. yvUSDT
2. yvUSDC
3. yvDAI
4. yvWETH
5. yvYFI
6. yvCurve-DOLA
7. yvCurve-stETH
8. yvCurve-IB
9. yvCurve-CVXETH
10. yvCurve-3Crypto

Additionally, we also propose adding new “V2” markets for WBTC, ETH, and YFI that will operate separately from the WBTC, ETH, and YFI markets affected by the April 2, 2022 price manipulation incident and which will be moved to a “paused or deprecated assets” section of the main Anchor page pending completion of the make-good currently in process.


### INV Rewards

In order to promote new deposits of the above collateral to Anchor, we propose monthly rewards of 50 INV for each yvault-asset for three months, to be re-evaluated on a regular basis by GWG and TWG team members in order to optimize adoption/TVL for each asset. E.g. monthly rewards for poorly performing assets may be reduced while more successful assets may merit higher reward rates.

We see opportunities to strengthen our partnership positions with Yearn and Convex. Moreover, a successful integration of these new assets could bring about the onboarding of a new audience and demand for more collaterals to be added, potentially leading to additional benefits such as deepening liquidity, direct treasury buys, new DOLA feds, joint marketing, etc. This integration stands to bring new visibility to DOLA and Inverse Finance and lead us into other treasury diversification and lending protocol opportunities.

### Oracles

Price feeds for y-vaults are dependent on the underlying asset and rely on the strategies deployed. As an example, the oracle source for yvWETH price (underlying asset wETH), updates continuously depending on what the last called-upon strategy was. This means, yvWETH price is being derived from curve virtual price oracle (when using the Curve Seeker strategy), Maker DAO (when using the Maker Delegate strategy), Lido DAO (when using the Lido Eth 2.0 Staking strategy), etc.

To simplify this, RWG proposes the Stable and DeFi y-vaults utilize the chainlink oracle tied to the underlying asset along with the 'vault.pricepershare', a metric unique to each vault which tracks the profit generated by the utilized strategies. Curve Pool y-Vaults instead will utilize the curve virtual price oracle. For a more detailed write-up on oracles, refer to the risk assessment write-up linked in the section below.

V2 Markets (wBTC, wETH, YFI) will utilize the same oracle solutions as their V1 counterparts.

### Risk/Safety Measures

The likelihood of smart contract-risks increases with the number of strategies and protocols involved. The y-vaults under consideration interact with numerous strategies and protocols.

It’s the RWG job to not underplay risks associated with providing liquidity on Yearn or DeFi in general. Still, it’s worth noting that most of the protocols studied during our assessment have existed for a while meaning they have likely experienced numerous exploit attempts and are time tested.

For the purpose of our assessment, we were required to come up with a scoring system for the individual y-vaults that take into account both their deployed strategies and the protocols interacted with. Every strategy deployed by the y-Vaults was assessed and categorized based on their complexity. Protocols these strategies interacted with were also assessed per the Safety Score (SS), a metric developed by the RWG which scores protocols using variables developed to account for specific areas of risk. The RWG was satisfied with the findings.

The Yearn Team has thoroughly reviewed their smart contracts, and have also pursued external auditors to identify potential vulnerabilities in the platform prior to launch. Yearn-vaults have been audited by multiple independent third-party firms: MixBytes, ChainSecurity, and Trail of Bits.

Per Inverse’s RWG assessment, Yearn Finance is a healthy protocol and integrations and onboardings of Yearn products should be sought out by our Growth team. A detailed writeup of our assessment can be found here: [Assessing Risk of adding Yearn-derivatives to Anchor](https://docs.google.com/document/d/1WvOGoWLB1_HBGz_h6_ueI9s83odI6SHKEEq1dy1_Buc/edit#heading=h.alg8mm43114j)

### On-Chain Actions

+ Update Anchor comptroller to incorporate a new feature that allows borrowing against specific collaterals to be temporarily paused without needing to lower the collateral factor, meaning current borrowers do not get liquidated. This will enable the DAO to pause borrows against assets affected by the April 2nd price manipulation incident, protecting the DAO from accruing additional bad DOLA debt if there is negative price action on ETH, WBTC and YFI.

+ pause xINV market's use as collateral

+ pause anWBTC market’s use as collateral 

+ pause anwETH market’s use as collateral 

+ pause anYFI market’s use as collateral 

+ Re-enable DOLA borrowing

Re-Enable Anchor (1/n)

# 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.

Re-Enable Anchor (2/n)

# Proposal to Authorize Compensation for Inverse Finance Core Contributors
**BACKGROUND**

To attract, retain and align the interests of top talent with INV holders and the DAO, Inverse needs to reward core contributors with competitive DOLA compensation and vested governance tokens in a way that is comparable to other DeFi projects. [Cryptoharry was originally self-labeled as part-time](https://www.inverse.finance/governance/proposals/mills/15) but he has in reality been working full time leading the [TWG](https://www.inverse.finance/governance/proposals/mills/10) as well as driving multiple other initiatives within the DAO. [0xMT and Yellowtail were recently added to payroll without INV allocations.](https://www.inverse.finance/governance/proposals/mills/26)

Inverse Finance DAO has been lacking clear guidelines for comp for core contributors and have seen delays in payouts and inconsistent comp amounts for different tasks. Nakamomo as Head of CWG has taken on the added responsibility to manage payroll and comp guidelines in addition to regular CWG activities. Beyond running CWG, Nakamomo has been working full-time in several areas beyond his responsibilities in CWG and he will continue to assist product and ops where needed.

**Proposal**

This is a proposal to make changes to Payroll and to add to vesting INV:

Add vesting allocations of 500 INV each for 0xMT and Yellowtail backdated to 4 April 2022 for 0xMT and 12 April 2022 for Yellowtail.

Amend Payroll for Cryptoharry and Nakamomo to reflect full-time salary of 10,000 DOLA per month. Also modify the allocation of vesting INV tokens to reflect an original balance of 500 INV at their respective starting dates: 16 March 2022 for Cryptoharry and 26 March 2022 for Nakamomo. 

**ACTIONS**

Allocate 500 INV tokens to 0xMT, Dev (0x9F3614afb3Df9f899caDBFfaA05c6C908059F726); calculated from 04/04/2021

Allocate 500 INV tokens to Yellowtail, Dev (0x1f7e8b2C4289Ff033A1Db980c9FDb40CCF29294f); vesting for 24 months calculated from 12/04/2021

Allocate 500 INV tokens to Nakamomo, Head of Community, 0xBB20d477d4F22d7169ad4c5Bd67984362BE8bad0), vesting for 24 months calculated from 26/03/2022

Add Nakamomo to Payroll with a monthly salary of 10,000 DOLA 

Increase the allocation by 250 INV tokens to CryptoHarry, (0x962228a90eac69238c7d1f216d80037e61ea9255), vesting for 24 months calculated from 04/02/2022

Increase CryptoHarry’s Payroll monthly salary to a total of 10,000 DOLA.

Deduct 6667 DOLA from CWG multisig allowance as Nakamomo is paid through payroll for June and onwards.


**Terms of Allocation**

Vesting is over a period of 24 months from the date of calculation.

Vesting continues automatically unless the DAO votes to terminate the contributor.

Proposal to Authorize Compensation for Inverse Finance Core Contributors

# 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.

Add New Collateral Assets to Frontier

# Add fresh collateral assets to Frontier (continued)
### Summary

The following is a proposal to add yvWETH, yvYFI, and yvcrvCVXETH  as well as v2 markets wETH and wBTC as collateral assets to Anchor. 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 wBTC v2 market as collateral asset on Anchor.
+ Add wETH v2 market as collateral asset on Anchor.
+ Add yvWETH as collateral assets on Anchor.
+ Add yvYFI as collateral assets on Anchor.
+ Add yvcrvCVXETH as collateral assets on Anchor.

Add fresh collateral assets to Frontier (continued)

# Treasury Working Group Allowance Refresh
# Summary

Refresh Treasury Working Group allowances to continue duties as outlined in [Proposal 10 of MILLS Era](https://www.inverse.finance/governance/proposals/mills/10) in addition to recent strategic developments surrounding Curve Wars and bad debt repayments in relation to the bad debt accrued from the April 2nd price manipulation incident.

# Background

### Allowances

| Asset         | Original (3/21/2022) | Additions ([Proposal #28](https://www.inverse.finance/governance/proposals/mills/28)) | Current (5/20/2022) | Change   |
| ------------- | -------------------- | ------------------------ | ------------------- | -------- |
| DOLA          | 1517.50K             | 150k                     | 1005K               | \-662.5K |
| DAI           | 75K                  |                          | 6.40K               | \-68.6K  |
| DOLA-3POOL LP | 1500K                | 150k                     | 1250K               | \-400K   |
| INV-DOLA SLP  | 31K                  |                          | 0                   | \-31K    |
| INV           | 5.2K                 |                          | 1.48K               | \-3.72K  |

The majority of the DOLA and LP/SLP allowances impact has been attributed to various pool balancing exercises between DOLA-2POOL, INV-DOLA, INV-WETH and DOLA-3POOL.

Recent INV spend has shifted from DAO directed emissions to Curve wars related spend, via bribes (private or via bribing protocols) which has and will continue impacting available INV allowances.

### INV Spend

| Reason                                               | INV     |
| ---------------------------------------------------- | ------- |
| Votium/Convex Bribe                                  | 1650    |
| Private Convex Bribe                                 | 322.67  |
| Private veCRV Bribe                                  | 92.15   |
| OTC                                                  | 732.72  |
| INV/WETH                                             | 583.6   |
| Community Rewards                                    | 25      |
| Pitch Bribe (not used, returned to treasury)         | 75      |
| bribe.crv.finance bribe (Yearn returned to treasury) | 200     |
| Excess INV (not used, returned to treasury)          | 40      |
| Total                                                | 3721.14 |

Result of INV spend:
- Bribing - This has allows the Yearn Fed ([see Proposal 21](https://www.inverse.finance/governance/proposals/mills/21)) to operate profitably, and has ensured very deep DOLA-3Pool liquidity with between $70m and $80m depth for many weeks now. This ensure a highly resilient DOLA peg.
- OTC - This has allowed the DAO to collect signifiacnt additonal funds, which to date have been used for deepening the INV/WETH LP on SushiSwap as well as reimbursing contributors gas costs for DAO activities.
- INV/WETH - Additional INV has been used to pair with WETH when adding liquidity to this pool, the current value on the DAO's position in this pool is $760k (made up of 3634 INV and 188 WETH).

To keep up to date with the TWG and TWG Spending, come view the [Treasury Announcements Channel in the Inverse Finance discord](https://discord.com/channels/790157548845924352/945047917020991578).

# Projected 90 Day Allowance Need

Please review [Proposal 10](https://www.inverse.finance/governance/proposals/mills/10) for more detailed explanations as to each allowance request.

### DOLA
- We request $1.5m for rebalancing liquidity.
- We request $15k for ad-hoc comp of TWG member n3bs (paid monthly based on hours contributed to the DAO)
- We request $600 for design work on the monthly treasury report.

### DOLA-3Pool
- We request $1.5m for rebalancing liquidity

### DAI
- We request $150k for rebalancing liquidity and debt repayments ($75k was requested last time, which has been mostly used in the 6 weeks that followed)

### INV-DOLA SLP
- We request $1.5m (72,000 tokens) for rebalancing liquidity, this is more than the $1m requested last time as it proved to not be enough and negatively impacted our balancing activities during April.

### INV-WETH SLP
- We request $1.5m (1,050 tokens) for rebalancing liquidity, the amount replicates the allowance for INV-DOLA SLP

### INV
- We request 6,000 INV for incentivising liquidity through bribes (~2000 INV per month freed up by stopping other Anchor rewards, so this INV spend is a reallocation)
- We request $250k (2500 INV) to facilitate OTC transactions
- We request $500k for liquidity rebalancing (deepening INV liquidity on DEX’s)
- We request 400 INV to fulfil responsibilities of reimbursing contributors gas cost for DAO activities.

### Debt repayment
We are currently buying ETH/WBTC/YFI as part of bad debt repayment weekly through DCA. This is currently projected to be at a rate of $75k per week. To cover debt repayment until the end of June, the TWG requests $225k DOLA and $225k DOLA-3Pool (6 weeks * $75k = $450k)

| Asset        | Rebalancing / Liquidity | Ad Hoc Comp | Bribes / Liquidity Incentivisation | OTC   | Bad Debt Repayment | Total   |
| ------------ | ----------------------- | ----------- | ---------------------------------- | ----- | ------------------ | ------- |
| DOLA         | $1.5m                   | $15.6k      |                                    |       | $225k              | $1.74m  |
| DOLA-3POOL   | $1.5m                   |             |                                    |       | $225k              | $1.73m  |
| INV-DOLA SLP | $1.5m                   |             |                                    |       |                    | $1.5m   |
| INV-ETH SLP  | $1.5m                   |             |                                    |       |                    | $1.5m   |
| INV          | $500k                   |             | $600k                              | $250k |                    | $1.39m\* |

*$40k added for gas reimbursements

## Allowances for Bad Debt Repayment

Throughout the process of paying down the bad debt accrued on April 2nd, returning capital to the affected users the impacted assets (ETH/WBTC/YFI) are likely to be stored in the Treasury for periods between debt repayments. We request allowances to cover the full value of the bad debt so the TWG can pull each asset out to make a repayment whenever appropriate. 100% of the ETH/WBTC/YFI stored in the treasury will be used for this purpose only.

| Asset | Allowance |
| ----- | --------- |
| WETH  | 1.6K      |
| WBTC  | 94.95     |
| YFI   | 38.93     |

## Miscellaneous

3920 USDC ($3920), 596.3 yvDAI (655$) and 512.89 yvUSDC (562$) have been stored in the Treasury for considerable time, dormant and unproductive. The USDC is direct profit from the depreciated USDC DCA vault, and the Yearn vault tokens are from Yearn profit sharing for the DCA vaults. The TWG recommends allowances are given for these assets so they can be withdrawn from the treasury and used productively for one (or many) of the following activities: bad debt repayment, deepening INV liquidity, purchasing ETH to reimburse DAO gas fees.

~$500 budget requested by RWG to pay annual membership subscription for Asana, the software they use for managing goals and objectives.

# On Chain Actions

- Approve allowance of 1,740,600 DOLA ($1.74m) to the TWG Multisig
- Approve allowance of 1,725,000 DOLA-3Pool ($1.73m) to the TWG Multisig
- Approve allowance of 72,000 INV-DOLA SLP ($1.5m) to the TWG Multisig
- Approve allowance of 1,050 INV-WETH SLP ($1.5m) to the TWG Multisig
- Approve allowance of 14,000 INV ($1.4m) to the TWG Multisig
- Approve allowance of 1,600 WETH to the TWG Multisig
- Approve allowance of 94.95 WBTC to the TWG Multisig
- Approve allowance of 38.93 YFI to the TWG Multisig
- Approve allowance of 596.30208258241729 ($655) yvDAI to the TWG Multisig
- Approve allowance of 512.89214 yvUSDC ($562) to the TWG Multisig
- Approve allowance of 3,920.386605 USDC to TWG Multisig

Treasury Working Group Allowance Refresh

# Adding additional markets to Frontier
### Summary

The following is a proposal to add previously disclosed collateral assets to Anchor. 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 YFI v2 market as collateral asset on Anchor.

+ Add yvcrvSTETH as collateral asset on Anchor.

+ Add yvcrvIB as collateral asset on Anchor.

+ Add yvcrv3crypto as collateral asset on Anchor.

Adding additional markets to Frontier

# Assign the Pause Guardian role to the Risk Working Group Multisig
### Summary

Frontier, one of Inverse's marquee products, is set to be fully operational this week for the first time since the April 2nd incident. The RWG has been working diligently with other working groups since then to create the toolset necessary to monitor the various money markets and set forward a standardized protocol to act swiftly and decisively in case of emergency.

The Pause Guardian role for Frontier currently being appointed to a single person is a SPOF the RWG wishes to address. 

### Recommendations

The Pause Guardian plays a crucial role in situations that may lead to any amount of loss of funds for users, retaining the ability to pause vulnerable markets and therefore acting as a last line of defense. The DAO cannot afford to lose this ability, and should therefore address this SPOF by assigning this role a multi-sig composed of trusted core DAO members. As an added benefit, the multisig will also allow for a faster response time.

### Solution

This proposal sets forward the motion to assign the Pause Guardian role to a 1 of 3 'Risk Working Group' multi-sig. When formed, this multi-sig will be composed of the two RWG contributors, and Nour.
- Karm (EST) 
- Edo (PST)
- Nour (GMT+2)

Assign the Pause Guardian role to the Risk Working Group Multisig

# Adding additional markets to Frontier
### Summary

The following is a proposal to add previously disclosed collateral assets to Anchor. 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 YFI v2 market as collateral asset on Anchor.

+ Add yvcrvstETH-WETH as collateral asset on Anchor.

+ Add yvcrvIB as collateral asset on Anchor.

+ Add yvcrv3crypto as collateral asset on Anchor.

# Adjust Coillateral Factors For All Assets
Introduction

* This proposal sets forward the motion to adjust the collateral factors of existing markets on Frontier to better match Inverse's current competitive landscape. These levels have been approved by the RWG and are contingent on DOLA being the only borrowable asset on the money market. Were this to change, the RWG will preemptively post a proposal to lower collateral factors on the same assets and any new markets that are introduced in the interim.

On-Chain Actions

Set a CF of 88 for the following: yvcrvDOLA, DOLA, yvDAI, yvUSDC, yvUSDT, DOLA - 3 POOL

Set a CF of 80 for the following:  yvWETH, wBTC, ETH, yvcrv3crypto, yvcrvstETH-WETH, stETH

Set a CF of 70 for the following:, yvcrvCVXETH, yvYFI

Adjust Coillateral Factors For All Assets

# Reenable INV-DOLA Sushiswap LP Tokens as collateral.
**Summary:**  
INV-DOLA has been paused because of the security issue with the old Inv oracle. With the newly updated Inv oracle, and the re-enabling of Inv as collateral, it is time to also re-enable INV-DOLA for use as collateral in Frontier.

A new price feed for the INV-DOLA SLP has been deployed, based on the old LpFeed contract, but updated to use the new Inv price feed.

**Onchain Actions:**
- Set price feed to new LpFeed
- Re-enable using INV-DOLA SLP as collateral

Reenable INV-DOLA Sushiswap LP Tokens as collateral.

# Increase Max Loss tolerance for Yearn Fed
Current Max Loss tolerance for the Yearn Fed is set at 0% for both taking profit and contractions. This makes it impossible to contract even small amounts of Dola and taking profit, unless the curve pool is very lopsided in favour of Dola.

I propose to raise the max acceptable loss to:
 - Taking profit: 0.02%
 - Contraction: 0.04%

This will allow Inverse Finance to harvest current profits, and the Fed chair to contract up to 1MM Dola at time of simulation.

Increase Max Loss tolerance for Yearn Fed

# Q3 2022 INV Token Mint and Allowance Refresh
# INV Token Mint

The [INV+ proposal that passed in early February](https://www.inverse.finance/governance/proposals/mills/6) represented a shift in tokenomics, away from a max supply of 100,000 INV tokens to a new model that allows for rapid growth of the protocol while **keeping stakers protected from any dilution**.

The additional INV minted as a result of that governance vote has since been deployed against xINV rewards, other Frontier rewards, liquidity bribes, and Olympus Pro bonds, however the DAO is nearing the point where this supply of INV requires replenishment. As laid out in the INV+ proposal, the plan is to execute a mint proposal approximately every 90 days. The current Inverse Finance Treasury is due to reach the current max supply of INV tokens between 4th July and 7th July, so it is important that new INV tokens are minted prior to this to ensure continued predictability in xINV rewards as well as smooth operations of the DAO.

The Policy Committee recommends that 50,000 INV tokens be minted to cover the next 90 days of estimated INV staking rewards, Frontier rewards, liquidity bribes and our Olympus Pro bonding program.

Please note that this proposal is not a guarantee of future INV emission rates beyond 90 days. The DAO's Policy Committee is responsible for adjusting emission rates in the best interests of the DAO, meaning the next INV mint proposal may be required sooner than 90-days from now, or later if the INV emissions are less than predicted.
Please keep an eye on the #general-policy channel on Discord to stay up to date

## Inverse Finance Bonding Program with Olympus Pro

The Inverse Finance DAO utilized the Olympus Pro bonding product between February 4th and May 12th 2022, raising over $2.5m in funds for the DAO. The Policy Committee decided to temporarily pause this program on May 12th as a result of the large market drawdown the DeFi industry experienced as a result of the UST and LUNA crash. This defensive policy approach proved successful, with INV’s market price showing incredible resilience compared with the rest of the market.

|     | 12-May    | 19-Jun    | Difference |
| --- | --------- | --------- | ---------- |
| INV | $ 78.11   | $ 77.32   | \-1.01%    |
| ETH | $1,824.00 | $1,043.00 | \-42.82%   |

The Policy Committee now believes that it is in the interest of the DAO to restart the bond program, with a focus on acquiring DOLA via the sale of INV tokens. This will allow the DAO to make important strides to tackle the ~9.48M DOLA bad debt accrued during the 2 exploits (April 2nd and June 16th), while operating sustainably. It is crucial that decisive action is taken to deal with the DOLA bad debt to protect DOLA’s peg in the near term while also positioning DOLA to become a leading stablecoin for the next bull market. Multiple bond maturities are going to be tested to find out the optimal bond parameters to maximize value to the DAO. In order to execute upon this, an allowance of 12,000 INV is requested to be given to the Policy Committee Multisig.

This proposal will bring the total supply of the Inverse Finance DAO governance token from 140,000 to 190,000.

On-chain actions:

* Mint 50,000 INV into the Inverse Finance Treasury.
* Set an allowance of 40,000 INV to the xINV staking contract.
* Set allowance of 8,000 INV to the Frontier Unitroller.
* Set allowance of 12,000 INV to the Policy Committee Multisig

*It should be noted that allowances equal 60k while mint amount equals 50k - this is as allowances are set slightly higher than the forecast spend, this is to allow for upwards variation to the forecast without needing to do another proposal much sooner than 90 days from now.*

Forum Post: https://forum.inverse.finance/t/q3-2022-inv-token-mint-and-allowance-refresh/131

Q3 2022 INV Token Mint and Allowance Refresh

# Extend the Analytics Working Group Activities by 180 days and fund infrastructure costs
## Context :

Following proposal 7 of Governor Mills Era,  @naoufel has been defining and leading the Analytics Working Group Activities through a 90 days experimental period.

The AWG has been delivering data and insights to DAO core team members and holders, **first through the expansion of the Dune dashboards to topic related and specialized Dashboards.** The Risk and Policy WG - as well as our users - have been able to continuously monitor the financial impact of our policy and state of the protocol with the help of those tools.

The AWG sees as part of its duties to give autonomy to its users by providing them with a flexible infrastructure and tailor made tools. Through the **development, testing and deployment of two subgraphs indexing governance and Frontier protocol data ,** the AWG is providing the DAO and its end-users a multi-level access to on-chain information (from the Graph at  Web3 level to Charts and Tables freely exportable on the website UI at user level).

Moreover the AWG has taken the lead in **the development of an alerting system monitoring on-chain activity** that could have  an impact on the safety of the protocol and delivered under short-time constraint to ensure a careful monitoring of Frontier relaunch on the 3rd of June.

Finally the AWG is committing to document and ensure all its activities can be replicated to improve the DAO resilience, learning and sharing process in its gitbook : https://analytics.inverse.finance

## Summary :

This proposal aims to replenish the allowances of the AWG to ensure its duties and refunding Naoufel for the infrastructure and testing costs incurred as well as validate the mandate of the AWG for an additionnal period of 6 months. All invoices can be requested for consultation and are available on Google Drive for core team members.

-  **2,400 DOLAs** for Google Cloud virtual machines : provision of 400$/month for 6 months. (This amount could be revised upward if we do switch to a more powerful VM in the future). This would allow to run our own archive node and provide the protocol with a dedicated in house connection to the Ethereum network (provisional amount)

- **2,340 DOLAs** for monthly Dune premium account for 6 additional months (of which 2 months already charged to naoufel)

- **96 DOLAs**  for an interim solution based on Tenderly previously to the alerts system and used during a month  (already charged to naoufel)

- **23 DOLAs** microsoft azure servers for testing the alerts (already charged)

- **5,000 DOLAs** to reward contributors to the Analytics Working Group tasks : this is a 50% decreased compared to the last proposal considering the 180 days windows of this  one,

Note : 2,028 DOLAs are left from the previous reward allowance and will be used to cover for eventual consulting expenses 


## Multisig :

Being dedicated for technical tasks and consultant settlements, the AWG multisig was so far operated by Naoufel. @cryptoharry and @Karm have been added to the multisig to ensure a distributed management of this latter.

Extend the Analytics Working Group Activities by 180 days and fund infrastructure costs

# Extend The Community Working Group
**Inverse Finance Community Working Group Budget Summary**

*March 29th - June 28th 2022*

The Community Working Group led by @Nakamomo has created natural entry points for new visitors and contributors since its inception three months ago. CWG has maintained a cadence of calls throughout the week and now take on the role of Governance Steward to further governance awareness and general liveness within Inverse Finance DAO. Continued funding of CWG is important as community retention makes a critical difference during prolonged market downturns, keeping our valued contributors in-house and fostering an uplifting DAO culture.

**Accomplishments**

* The weekly Community calls has been an important meeting place both for informing the community about the latest goings-on, but also as a place to ask questions and iron out misconceptions. Several people have chosen the community calls or the poker table as the place to break the ice and have a chat with team members for the first time. Among them is @CMeth who is now making a name for himself as a new contributor to TWG.
* The Weekly Orientation calls similarly have been the first touch point for two categories of users who all found what they were looking for. The first being new entrants into the cryptocurrency space who need basic information, and the other being DeFi natives that I can inform and send on to the appropriate working group such as investors looking for an OTC deal or large CVX holders looking for INV in exchange for their gauge votes.
* Weekly poker games. The poker sessions keep being a great social melting pot with an uplifting atmosphere. 
* Me and 0xMT started Braintrust interviews on every other Tuesday where we invite core contributors to have a birds-eye discussion of overarching topics relevant to Inverse Finance DAO, the topic of the first session being the Ethereum merge.
* Discord moderation has gone well despite a couple of bot storms. Thank you Donuts and @karm for your vigilance. Karm and I also updated the topic and role structure in Discord.
* I have updated and overhauled the Docs to be more beginner friendly and up to date with our current product offering.
* Inverse Merch will be available to buy from degen.supply on Thursday, 30th of June.
* Moderated and participated in Twitter spaces events
* I began what is to be a living document outlining our contributor guidelines and guiding principles. Thanks to @0xMT for input in its early form.

**CWG Spend**
CWG has spent a total of 18,112 DOLA as of 28th of June 2022.
|Line Item|DOLA in April|May|June|TOT|
| --- | --- | --- | --- | --- |
|Moderation/Support||2,000|2,000||
|Gaming Prizes|300|200|250||
|Comp|8,056|4,946|||
|Design|360|||
|Total DOLA|8,716|7,146|2,250|18,112|

Please see the forum thread for more details.
https://forum.inverse.finance/t/proposal-to-create-a-community-working-group/102/11?u=nakamomo

The Community Working Group was proposed by Nakamomo and formed on a 3 month experimental basis on March 29th, 2022. More detailed updates can be found in previous forum posts but after discussions among core contributors, the original CWG responsibilities have since expanded to:

* Governance stewardship. Leading calls discussing new proposals, field community input, and assisting in the proposal editing process. Bring better overall community visibility and interaction to new governance proposals.
* Initial on-boarding of new contributors
* Compensation. Developed a new onboarding process and contributor guidelines relating to ad hoc compensation.
* Community calls and activities (Orientation calls, Gaming, Braintrust Interviews)
* Merchandise
* Promotional NFT’s
* Docs updates
* Discord moderation
* Telegram moderation

I propose that we continue to fund the CWG for an additional 180 days. As budgeting needs have been changing, there will be a budget refresh with an allowance increase every 3 months.

|Description|Estimated 3 Month Costs|
|---|---|
|Moderation/Support|6,000|
|Ad-hoc Contributions to CWG|3,000|
|Job Adverts|1,000|
|Gaming Prizes|1,000|
|3 Month Total|11,000 DOLA|

Finally, a big thanks to @patb and all core contributors. You are a joy to work with!

Extend The Community Working Group

# Update INV Oracle as part of UniSwap Liquidity Migration
# Proposal to change the INV Oracle

As part of a TWG motive, the majority of the treasury’s INV liquidity (INV/WETH and INV/DOLA) is to be migrated from Sushiswap to Uniswap V2. Initially Sushiswap was chosen and used as the main base for INV liquidity due to running liquidity mining programs for INV LPs with SUSHI token. However, now these programs have stopped, it is deemed more optimized for the majority of INV liquidity to be held on Uniswap instead. This is as Uniswap LPs receive 20% higher fee take (due to 0.3% trading fees going directly to LPs, rather than the 0.25% on Sushiswap) and get exposure to a far larger user base and sustained volume.

Currently, the INV custom oracle points at the INV-WETH pool on sushiswap and reads price data from there. This proposal will change it to start reading price data from the new INV-WETH pool on Uniswap V2.

The TWG will migrate roughly 50% of liquidity prior to this proposal executing, and then do the remaining 50% as this proposal executes. This is to mitigate risks associated with the migration. As DOLA borrowing is currently disabled on Frontier, the risks are already mostly reduced.

Forum Post: https://forum.inverse.finance/t/update-inv-oracle-as-part-of-uniswap-liquidity-migration/134

## On-chain action:

* Update INV oracle feed to new Uni V2 oracle
* Update the LpFeed for Inv-Dola SLP to point to the Inv Feed

Update INV Oracle as part of UniSwap Liquidity Migration

# Move to weekly repayments of bad debt
# Proposal to move make good payments to weekly

In May, it was [proposed](https://www.inverse.finance/governance/proposals/mills/28) that there would be monthly bad debt repayment made back to the DAO. At this current stage, the TWG recommends that this is changed to weekly payments.

The TWG recommends that weekly repayments are done for the following reasons:

* Weekly payments allow more dynamic reaction to current and future events
* Gives the Inverse community more frequent opportunities to withdraw stuck assets - currently repayments are monthly so if a DAO members is offline for this repayment they have to wait a whole month for the next opportunity
* Weekly repayments are thought to raise morale among users with stuck assets - constant and regular attrition of stuck assets is likely to boost morale in comparison to monthly repayments of uncertain quantities
* Allows for V1 assets to be bought DCA style (when liquidations underwater positions) as opposed to large monthly buys at the current price.

Weekly repayments in this context includes: paying down ETH/WBTC/YFI bad debt, paying down DOLA bad debt, funding the 2 currently unreleased debt repayment contracts (more of these later).

When there is a repayment that will lead to capital becoming available to stuck users (so not 100% liquidations or DOLA repayment), it will be pre announced with at least 1 hour notice.

## Repayment of DOLA bad debt

On June 16th, Inverse Finance was exploited again that resulted in a loss of ~$5.83M DOLA. The TWG believes that it is vitally important to to reduce the current DOLA bad debt, that currently stands at ~$10M DOLA in order to ensure DOLA is positioned to be a leading stablecoin for the next crypto bullrun. In order to facilitate the additional repayments of bad DOLA debt, the TWG requests an additional 450K DOLA (150K * 3 months) allowance to what was requested in [the most recent TWG allowance proposal](https://www.inverse.finance/governance/proposals/mills/40). The majority of this DOLA will be coming from the our OP bonds, recently restarted by the Policy Committee.

DOLA allowance requested previously:

$1.5m for rebalancing/liquidity

$15.6k for ad hoc compensation

$225k for non-DOLA bad debt repayments

Total: $1.74m

**With an additional $450k requested for repaying DOLA bad debt, the new total will be $2.19m**

*The spend distribution of budget request allocation is a forecast; there may be some deviation to actual allocations when it comes to it.*

Forum post: https://forum.inverse.finance/t/move-to-weekly-repayments-of-bad-debt/135

## On-chain actions:

Set DOLA allowance to TWG Multisig to $2.19m

Move to weekly repayments of bad debt

# Proposal to Authorize Compensation for Inverse Finance Core Contributors
# Proposal to Authorize Compensation for Inverse Finance Core Contributors

To attract, retain and align the interests of top talent with INV holders and the DAO, Inverse needs to reward core contributors with competitive DOLA compensation and vested governance tokens in a way that is comparable to other DeFi projects.

### TWG

At the end of May, TWG member n3bs decided to step away from being a core contributor at Inverse due to personal reasons. He took the decision to cancel his 2 year INV vesting contract, which at the time was worth 408 INV: [https://etherscan.io/tx/0x60ea00477189bb43bdf92d00a00f8f5f75a1715fba4bcdf0a658f73c516b7039](https://etherscan.io/tx/0x60ea00477189bb43bdf92d00a00f8f5f75a1715fba4bcdf0a658f73c516b7039)

On 22nd June, after much discussion within the team, the decision was made to bring the TWG team back to 3 contributors by recruiting CMeth on a part time basis. This was positioned as a 2 month trial, and so far CMeth has proven to provide the TWG and the Inverse DAO with significant value. This proposal is to grant CMeth with 450 INV, vesting for 24 months with a start date of June 22nd 2022. CMeth is taking 100% compensation in INV, with no DOLA compensation as of now.

CMeth has provided a lot of value to the DAO via contributions within the TWG, being heavily involved in all that the TWG has delivered since June 22nd. In particular, CMeth has been decisive in the strategising of the DAO’s CVX acquisition strategy. As of now, CMeth is not a signer part of the TWG multisig. For now, there is no immediate plan to bring CMeth onto the multisig, as it requires a large time commitment.

### Design (GWG)

On May 4th, an [on-chain proposal was put forward](https://www.inverse.finance/governance/proposals/mills/27) to add Ishita onto DOLA payroll for part-time contributions in design. Ishita has since proven to be an extremely reliable and talented contributor at Inverse Finance, provided numerous excellent design graphics for the various content requirementents. We recommend  granting Ishita with 150 INV, vesting for 24 months with a start date of May 4th. We look forward to Ishita continuing to service the ad-hoc needs for design requests like twitter graphics, blog hero graphics, POAP's, and similar design requests from across the DAO.

### Actions

* Approve INV allowance to INV vester factory for 600 INV
* Allocate 450 INV tokens to CMeth (0x3D1579B42a9e1D8E6a9b740A2F6A1161B93698Fe), vesting for 24 months calculated from 22/06/2022
* Allocate 150 INV tokens to Ishita (0x27b8D1347bE36Ff697b48d1D74323E6a9f28eA6D), vesting for 24 months calculated from 04/05/2022

Forum post: https://forum.inverse.finance/t/proposal-to-authorize-compensation-for-inverse-finance-core-contributors/138

# Proposal to Activate Bad Debt Repayment Contracts
# Proposal to Activate Bad Debt Repayment Contracts

## Background

On April 2nd, Inverse Finance money market Anchor was attacked via a price oracle manipulation incident that allowed the attacker to clear out all available liquidity in the process. 1,594.44 ETH, 94.95 wBTC and 38.93 YFI of user funds were taken, being accrued as ‘bad debt’ as they are loans that are unlikely ever to be repaid by the debtor. Since then, the Inverse Finance DAO has [voted through a bad debt weekly repayment schedule](https://www.inverse.finance/governance/proposals/mills/55) that is currently operating, with repayments having so far reduced bad debt by: 95.25 ETH, 5.54 wBTC and 2.71 YFI.

## Motivation

The current process favors advanced users able to set up bots that can either liquidate underwater positions or withdraw newly available liquidity quicker than human input. This means that users who do not have the technical proficiency to run their own bots have to wait until there no liquidatable positions in the market AND all the users running bots have withdrawn their collateral; this likely means these users will have wait much longer until they have a chance at getting their funds back.

So far 100% of bad debt repayments have ended up going to either liquidations or advanced users running bots monitoring the market and executing withdrawals. Even then, it is very much an adversarial scenario, with it being a race against their fellow users to execute a withdrawal first.

In order to “level the playing field”, the team at Inverse Finance has built 2 debt repayment contracts: the **debt repayer**, and the **debt converter**.

Please note: both contracts have been audited by PeckShield. Please see audit report here: [PeckshieldAudit.pdf](https://drive.google.com/file/d/1LWNG08mib2GcI1WqnMt5IdFoW73QU2F8/view?usp=sharing)

### Debt Repayer

https://www.inverse.finance/frontier/debt-repayer
https://etherscan.io/address/0x9eb6BF2E582279cfC1988d3F2043Ff4DF18fa6A0

The purpose of the bad debt repayment contract is to facilitate early repayment of non-DOLA denominated bad debt by allowing debtors to withdraw before others, but at a discount. This contract will also potentially speed up the overall bad debt repayment for Inverse DAO..

This contract will allow users to redeem bad debt anTokens for the native asset that they represent, but at a discount. As Inverse Finance adds assets to the market and the debt reserves of the contract increase, the discount is reduced using a linear model with parameters set by governance. Those wishing to redeem their anTokens early, before much reserves have had time to accumulate, will take a steeper discount than those redeeming later when reserves are higher. anTokens will eventually be redeemable at one-to-one value with their underlying, once a certain threshold of reserves are met.

A usage example could be as follows:

* The ETH/WBTC/YFI V1 market anToken is set to be redeemable at an initial discount of 55% when the debt repayment contract has a reserve ratio of 0%. The zero discount reserve threshold is 15%.
* As the TWG DCA buys the bad debt assets, a proportion of these buys are sent to the debt repayment contract which causes the stores of YFI, Eth and wBTC in the contract to slowly fill, raising the reserve ratio for each asset.
* At 5% reserves, a user can redeem their Eth debt at a 36.6% discount.
* At 10% reserves, the discount falls to 18.3%.
* At 15% reserves or more, the discount will be at 0%.
* Reserve ratios are calculated separately for each debt asset.
* If there is 75 ETH stored in the debt repayment contract, and there is 1,000 ETH currently stuck in the ETH V1 market on Frontier then the reserve ratio will be 7.5%, meaning currently the available discount is 27.5%. If a user with 34.5 ETH stuck in V1 markets decides to withdraw all of their ETH in this moment, they’ll receive 25 ETH from the debt contract (27.5% discount). This reduces the debt contract’s ETH balance to 50 ETH, and the reserve ratio to 5%, meaning that the next available discount to a user will be 36.6%.
* At this point, the 34.5 ETH of anETH is sent to the TWG. The TWG can then use currently stored ETH in the Treasury to repay this full 34.5 ETH from the bad debt, meaning the new total of ETH in V1 markets becomes 965.5 ETH (1,000 - 34.5).

The TWG will direct a proportion of ETH/WBTC/YFI assets for repayment to this contract. This proportion will be determined each time based on the current context of the repayment situation. The rest of the ETH/WBTC/YFI will be used for liquidations and adding liquidity to the V1 markets like before.

Reserve ratio is calculated for each asset by dividing total amount in each V1 market by the borrow balance of the exploiter.

The debt repayer contract is deployed with the following parameters:

* Max Discount: 55%
* Zero discount reserve threshold: 15%

These parameters are adjustable by governance at any point

### Debt Converter

https://www.inverse.finance/frontier/debt-converter
https://etherscan.io/address/0x1ff9c712B011cBf05B67A6850281b13cA27eCb2A

The purpose of the DebtConverter contract is to let users convert their stuck collateral denominated in YFI/ETH/wBTC to be DOLA denominated instead. We can do this by letting affected users willingly transfer their anTokens to a converter, which issues them DOLA IOUs in exchange.

The motivation for the user is the ability to “sell” their assets, locking in a DOLA denominated value, while the benefit for Inverse DAO is the ability to turn our debt from volatile tokens into stable coins. It also allows users, who are not quick to withdraw their funds, to gradually withdraw as InverseDAO repays its debt. DOLA IOUs will accrue interest and the APY is variable and is controlled by governance.

The contract will allow users to convert their bad debt anTokens into an equal DOLA amount worth of DOLA IOUs. The anTokens will be valued at their current market price in dollars, which is fetched from ChainLink feeds. There is no discount for this debt conversion as there is for the Debt Repayer.

Governance can set a `maxConvertPrice` for each anToken which represents the maximum value this contract will pay per underlying token. For example, assume anETH has a maxConvertPrice of 1,500e18 & a market price of $1,600. A user that redeems 1 ETH worth of anETH will only receive 1500 DOLA worth of IOUs.

**Conversions**

1. User calls the converter contract, specifying the anToken and the amount to convert. The user must have approved said anTokens before hand, and have enough of the correct anTokens to complete the transaction.
2. Converter transfers anTokens to the Inverse treasury.
3. Converter reads the Chainlink oracle price feed for the underlying asset of the anTokens and uses this to calculate the dollar price of the anTokens. The converter will assume 1 DOLA = 1 Dollar.
4. The value of the transferred anTokens will increase the contract variable for debt outstanding.
5. An amount of DOLA IOUs are allocated to the user, equal to the dollar value of their deposited anTokens. If the DOLA IOUs are interest bearing, then the amount should be reduced by interest generated up to that point. I.E. if DOLA IOUs have generated 1% of APY at point of conversion, then 1 DOLA IOU will represent 1.01 DOLA ($1.01).
6. Each conversion creates its own conversion struct which keeps track of DOLA IOUs converted, dola IOUs claimed so far & last repayment epoch redeemed.

**Repayments**

1. Operator calls the repayment function, specifying the amount of DOLA to be repaid. This DOLA is transferred to the DebtConverter contract.
2. Repaid DOLA is allocated pro-rata to all conversions that have not yet been fully redeemed.
3. Outstanding debt of the contract is reduced by repayment amount. Repayment epoch is incremented by 1.
4. Each repayment creates its own repayment struct which keeps track of its epoch, amount & percent of DOLA IOUs claimable (used for pro-rata distribution).

**Redemptions**

1. User calls the redeemConversion function, specifying the index of the conversion they wish to redeem & the repayment epoch they wish to stop redemption at. A repayment epoch of 0 will claim all the way up to the current epoch.
2. Amount of DOLA IOUs claimable is calculated. Amount of DOLA IOUs claimed from this conversion are updated.
3. DOLA IOU amount is converted to DOLA amount at current exchange rate.
4. DOLA IOUs are burned, DOLA is transferred to the user.

The debt converter will start with an APY of 3% (adjustable by governance) to users with DOLA IOU's. The price that the assets can be converted will be capped at the price of the assets on April 2nd, which again is fully controllable by governance. This is: 
* ETH = $3,460
* wBTC = $46,260
* YFI = $23,490

Forum post: https://forum.inverse.finance/t/proposal-to-activate-bad-debt-repayment-contracts/139

## On Chain Action

On June 14th, the RWG paused the transfer of anTokens in response to a disclosed risk. As DOLA borrowing was disabled on Frontier on June 16th, that risk is no longer present and so anToken transfers can be reenabled safely. This is required for the two debt contracts to function.

* Set anToken transferPause() to false
* Set maxConvertPrice of ETH to $3,460
* Set maxConvertPrice of wBTC to $46,260
* Set maxConvertPrice of YFI to $23,490

Proposal to Activate Bad Debt Repayment Contracts

# Proposal to authorize allowance for formal audits
For any questions regarding this proposal, please reach out to @edo#4889 in the Inverse Discord channel.

Forum Link: https://forum.inverse.finance/t/proposal-to-authorize-allowance-for-formal-audits/140


### Summary

This proposal aims to formalize an ongoing budget meant to compensate third party auditors performing reviews of both legacy code and upcoming products.


### Background

Following the April 2nd and June 16th incidents, Inverse Finance has identified and enacted ways to improve our security posture both technically and in regards to our internal product development processes. While we are satisfied with early results of this new process, we know more than most that bugs are an inevitable part of developing new software products. 

Today, Inverse relies on internal and volunteer members of the DAO for software development and QA; however, our internal quality assurance processes should also include a way to leverage the skills/resources from contributors who specialize in looking for security-related bugs. The prospect of a formal audit has created divisions in our DAO in the past and, while recent exploits to DeFi protocols audited by reputable firms have drawn skepticism by the greater Crypto audience, we believe it is imperative to onboard whitehat code testers and auditing firms alike in order to have Inverse’s smart contracts and other code thoroughly tested for security and other vulnerabilities. We believe this is an integral part to our renewed smart contract review process, and that it will inspire much needed confidence in our DAO as we unveil a new line of products in the coming weeks and months.


### Proposal 

After a period of research and introductions into several qualified auditing firms and bug bounty platforms, the Risk Working Group would like to move forward with establishing a formal working relationship with a selection (read: one or possibly more) of the following names: 

* Audit: Zellic, Hacxyz, Code4Rena, DeFiMoon
* Bug Bounty: Code4Rena, Hats Finance, ImmuneFi

These protocols and firms have been vetted by our Risk and Product Working Groups, and the compensation/payment structures to onboard and retain their services has been approved by our Treasury Working Group. We now address the DAO to authorize this path going forward. 

A 4 of 5 multi-sig address (BBP multisig) composed of members of the Risk, Product, Treasury, and Growth Working Groups will be tasked with managing funding and dispersing rewards to our new partners. This multisig has an allowance of $30,000 DOLA, remnants from funds issued in the approval of GovMills Proposals [#17](https://www.inverse.finance/governance/proposals/mills/17), and [#32](https://www.inverse.finance/governance/proposals/mills/32). 

We ask permission to spend these funds, as well as issue an additional 30,000 DOLA to the multisig's allowance for a total of 60,000 DOLA. We also ask that the DAO grant the multisig an allowance of 100 INV so that we may compensate aligned protocols and encourage them to get involved in our governance process.

This budget is intended to cover forthcoming major product releases spanning the next three months and utilization will result in an increase in our operating expenses. Any new allowance issued to the multisig, irrespective of scope, will be required to go through a DAO vote.


### On-Chain Actions

* Set Bug Bounty Program's DOLA Allowance to 60,000 
* Set Bug Bounty Program's INV Allowance to 100

Proposal to authorize allowance for formal audits

# Housekeeping Proposal
# Proposal to End INV Vesting Contract

Forum Post: https://forum.inverse.finance/t/proposal-to-end-inv-vesting-contract/144

## Background Stats

On [March 17th 2022, BasedXeno](https://www.inverse.finance/governance/proposals/mills/9) (now known as crush0x), was [awarded with 500 INV (347 xINV)](https://etherscan.io/tx/0x5a2da1d7a6d788757377123340e8407b74e95293488e16435856826507e29369) vesting over 2 years (calculated from 01/11/2021) as a core contributor leading operations at the time. Since then, Xeno has:

* Claimed 283.7 INV (147.1 xINV)
* 0.9 INV (0.3 xINV) claimable
* In total, 147.4 xINV, now equivalent to 423.9 INV

*Note: Figures correct at the time of writing, 6th September 2022*

*Current xINV exchange rate used: 1 xINV = 2.876 INV*

## Summary

Vesting INV is awarded to contributors at Inverse Finance by the DAO in order to align goals, incentivize future results and commitment, and give “a piece of the pie”. BasedXeno has provided huge value to the DAO throughout 2021 and 2022, however, during the last few months has not been able to actively contribute due to other commitments. Due to this, we’ve mutually decided to cancel the vester meaning the current vested but unclaimed INV will be sent directly to BasedXeno, while all locked INV will be returned to the DAO Treasury. This means around 574.3 INV (199.7 xINV) returned to the treasury, and 0.9 INV sent to BasedXeno.

We’d like to thank Xeno for all the hard work and value brought to the DAO as a comped contributor.

## Unrelated Housekeeping

Unrelated to the previous part of the proposal, we would like to propose to remove n3bs from the proposal whitelist. N3bs [stepped away from active contribution to the DAO in late May](https://www.inverse.finance/governance/proposals/mills/56), and so having the privilege of proposing proposals is no longer necessary.

## Actions

* Cancel BaseXeno Vestor (0xDA37E0458f3828C0073F40B2CEBD8084e978d4BA)
* Remove n3bs (0xAd4A190d4aEA2180B66906537f1fd9700C83842a) from Gov Mills whitelist

Housekeeping Proposal

# Proposal to Launch a Fraxbp Fed
## Summary:

Building on our efforts to expand liquidity for DOLA on new exchanges, this proposal aims to authorize the launch of the “Fraxbp Fed” meant to support our new [DOLA-Frax pool](https://etherscan.io/address/0xE57180685E3348589E9521aa53Af0BCD497E884d) on Curve.

Forum Post: https://forum.inverse.finance/t/proposal-to-launch-a-fraxbp-fed/146

## Background:

On May 26th, 2022, Frax proposed a novel [Frax base-pool (FBP)](https://gov.curve.fi/t/deploy-a-fraxbp-pool-whitelist-frax-for-vecrv-staking/3958). Composed of simply FRAX-USDC, the meta-pool would optionally pair against any other stablecoin on Curve. Prior to this, if you were a stablecoin protocol and wanted liquidity for your project, you had to “pair” with the 3pool. Protocols pay a hefty sum through liquidity (vote) incentives, whereby they offer $$$ to Curve (veCRV) DAO members who vote to direct token emissions (rewards) their way. FBP provides an additional choice for protocols who don’t want exposure to the tokens within the 3pool. The Frax DAO (“Automated Market Operations” or “AMO”) mints and burns Frax to the pool to keep it balanced and farm CRV and CVX incentives on Convex, recycling the rewards accruing to the DAO back into bribes that continually expands the rewards available to LP’s in the pool.

## Motivation

Frax has invited [DOLA and other stablecoins](https://snapshot.org/#/frax.eth/proposal/0x377b422913cfc178a56adb1f4d5653399b9ece5e4b73fda4ecf25dc1a6482d84) to pair with this FRAX-USDC basepool. The proposal for a DOLA-Frax basepool was also recently approved by [Convex](57xo35bpah4xoiwpkyxea3yi), and [Curve governance](https://dao.curve.fi/vote/ownership/209) (required to get a gauge assigned) with overwhelming majority. Pairing DOLA with FraxBP allows for extremely efficient bribes that results in high APY’s for LP’s and growing demand for the DOLA stablecoin. For example, if $1.50 of incentives is distributed for every $1.00 in bribes, and the Frax AMO has around 40% dominance of the pool, then Frax will receive $0.60 from this $1 bribe and then bribe again with it. They will then receive $0.36 from the extra $0.60 bribe. This means that a $1 bribe from Inverse, actually is like doing a $1.96+ bribe that directs $2.94+ in incentives to the [DOLA-FraxBP](https://etherscan.io/address/0xE57180685E3348589E9521aa53Af0BCD497E884d).

Inverse will soon be able to attach a Fed to the pool, meaning the protocol can mint and burn DOLA directly into the pool to help with peg management. This is very useful for flexing the supply of DOLA for instant peg management, as managing the peg directly via lending Feds can take much longer. This Fed will also be harvesting CRV and CVX rewards from the Convex pool itself, which will be locked by the protocol and used for directing more incentives towards DOLA.

The FraxBP Fed will play an important role for the DOLA ecosystem as we trend towards sustainability (not reliant on a single 3rd party such as Yearn, or bribing with the INV token) all whilst reducing impact of DOLA bad debt on DOLA ecosystem (bad debt will become smaller % of circulating supply). Ultimately setting up a FraxBP Fed will generate large, permanent revenues for the DAO. The longer time goes on, it is likely that less of a return will be able to be farmed from the bribes, so it is important we act fast and decisively.

## On Chain Actions:

grant DOLA minting rights to the fed contract

Proposal to Launch a Fraxbp Fed

# Proposal to Reallocate INV rewards and Migrate INV-DOLA Liquidity
# Proposal to Reallocate INV rewards and Migrate 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 these bribes, the TWG request an additional 2,400 INV allowance (800 * 3) for the next 3 months of INV-DOLA liquidity incentivization. Currently, the TWG has an INV allowance of 3,830, so the new allowance will be 6,230 (3,830 + 2,400).

Forum Post: https://forum.inverse.finance/t/proposal-to-reallocate-inv-rewards-and-migrate-inv-dola-liquidity/147

### Actions

* Set INV rewards for INV-DOLA to 0
* Set TWG INV allowance to 6,230

Proposal to Reallocate INV rewards and Migrate INV-DOLA Liquidity

# 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)

Follow Up: Proposal to Migrate INV-DOLA Liquidity from Uniswap to Balancer

# Community Rewards
Core Contributors at Inverse Finance DAO would like to share appreciation for active community members who contribute constructively to the conversations in our Discord server. There is real value in people helping each other out and having good conversationalists bring the level up, and as it is hard to define properly it usually goes without any reward. 

Thank you for voicing your opinion and contributing to a good working environment despite tough markets!

We each suggested names in an internal survey and want to award INV according the number of votes for the following Discord members:

| Member             | Total         |
| ------------------ | ------------- |
| Keygenmusicenjoyer | Declined (12) |
| Cryptoenthusiast    | 6             | 
| Trophycase         | 5             |
| Zach               | 3             | 
| Dasvir             | 2             | 
| Cryptinewt         | Declined (1)             |

Community Rewards

# Q4 2022 INV Token Mint and Allowance Refresh
# INV Token Mint

[Please see the Q3 Mint proposal here.](https://www.inverse.finance/governance/proposals/mills/51)

[The INV+ proposal that passed in early February](https://www.inverse.finance/governance/proposals/mills/6) represented a shift in tokenomics, away from a max supply of 100,000 INV tokens to a new model that allows for rapid growth of the protocol while keeping stakers protected from any dilution.

In accordance with the goals initially set out in the INV+ proposal, the time has come to mint new INV tokens in order to ensure the continued operations and success of Inverse Finance.

The current Inverse Finance Treasury is due to run out of available INV tokens between 3rd October and 6th October, so it is imperative that new INV tokens are minted prior to this to ensure operations and rewards continue uninterrupted.

As laid out in the INV+ proposal, the plan is to do a mint proposal approximately every 90 days. The Policy Committee is recommending that 55,000 INV tokens be minted, to cover the next 90-days of estimated INV staking rewards, liquidity bribes and our Olympus Pro bonding program.

This proposal however is NOT a guarantee of future INV emission rates, the Policy Committee retains the responsibility to adjust emission rates as they see fit in the best interest of the Inverse Finance DAO. This means that the next INV mint proposal may be required sooner than 90-days from now, or later if the INV emissions are less than predicted.

In order for the Policy Committee to continue supporting the Olympus Pro bonding program, which is currently vital for paying down DOLA and non-DOLA bad debt, a new INV allowance of 12,000 is requested.

Keep an eye on the #general-policy channel on Discord to stay up to date

https://forum.inverse.finance/t/q4-2022-inv-token-mint-and-allowance-refresh/149

## On-Chain Actions

* Mint 55,000 INV to Treasury
* Set INV Staking Contract INV allowance to 50,000 (this allowance is what allows INV to flow from the treasury to INV stakers)
* Set Policy Committee INV allowance to 12,000 (to facilitate Olympus Pro bonding program)

Q4 2022 INV Token Mint and Allowance Refresh

#  Increase Governance Quorum and Submit Proposal Requirements
Forum Link: https://forum.inverse.finance/t/increase-governance-quorum-and-submit-proposal-requirements/150

The DAO will soon be voting on a proposal to increase circulating supply titled: [Q4 2022 INV Token Mint and Allowance Refresh](https://www.inverse.finance/governance/proposals/mills/64). This change in supply warrants an updated governance quorum and submit proposal requirements to respectively reflect 5% circulating supply (9,500 votes) and 1% circulating supply (1,900 votes). These thresholds ensure high proposal quality and safeguard the DAO against governance attacks in time’s of weak markets.

Important to note that DAO Governance has consistently shown good health with 18 of the last 20 proposals receiving over 9500 for votes. The DAO has an active core group of delegates to submit proposals on chain, as well as a proposer whitelist of incentivized team members.

#  Proposal to upgrade the Fraxbp Fed
Forum Post: https://forum.inverse.finance/t/proposal-to-upgrade-the-fraxbp-fed/158

This proposal intends to establish a new Fraxbp Fed with minor improvements to functionalities and permissions compared to v1 launched recently in proposal #60 titled: “[Launch a Fraxbp Fed](https://www.inverse.finance/governance/proposals/mills/60)”. The need for these upgrades are apparent after an initial period of operation of the Fraxbp Fed and are summarized in the write-up below.

1.  1. Amend the max slippage that can be taken by the FraxBP Fed when contracting/withdrawing DOLA.

Currently the maxLossWithdrawBps is set to 1, meaning a very small amount of slippage (0.01%) can be taken on withdrawals. This means that the contractAll() function, used to fully withdraw and burn the Feds DOLAs will fail in most situations. This function is important in the unlikely event of a USDC or Frax depegging, as the DAO would want to swiftly remove all DOLAs from the pool in this scenario.

To amend this, we suggest increasing maxLossWithdrawBps to a higher level. Approval of this proposal will set maxLossWithdrawBps to 10 (equivalent to 0.1%). This will be enough to secure DOLAs rapidly in an emergency situation. It will be up to the signers on the [Fed Chair Multisig](https://www.inverse.finance/governance/proposals/mills/31) to operate the Fraxbp Fed adequately.

2. 2. Grant a new permission role (adjustable by gov) to the [RWG Multisig](https://etherscan.io/address/0xe3ed95e130ad9e15643f5a5f232a3dae980784cd) to act as the guardian role on the new Frax Fed, meaning the maxLossWithdrawBps can be adjusted

Along with gov, the RWG Multisig will thus be able to make changes to the maxLoss parameter. This means in situations where action needs to be taken fast to contract the Frax Fed, if 10 bps is not enough for full withdrawal then RWG can step in to adjust, rather than being delayed by the 5 day delay of gov.

On-chain actions:

* Set maxLossWithdrawBps of old Frax Fed to 10
* Remove minting rights from old Frax Fed
* Grant minting rights to new Frax Fed

Proposal to upgrade the Fraxbp Fed

# Community Working Group Budget Refresh
INV token holders and other interested parties form a community where the future of the Inverse Finance DAO and related topics are discussed. Many conversations are public and we welcome newcomers to ask questions and share their perspective. The most prominent way the Inverse DAO community interacts is via our Discord server, both in text and voice calls. We host weekly public calls such as the Monday Community Call, the Tuesday Orientation calls and we have more relaxed calls, Thursday Poker games (open to everyone!). 

The Community Working Group was proposed by Nakamomo (me) and formed on March 29th, 2022. The CWG has been extended quarterly and it is now time to refresh the budget allowance again. 
99Donuts99 has been paid by CWG each month including for October but will be put on payroll in a separate proposal as he has been paid for October by CWG. I am paid using payroll and no change is required. I have been focusing on maintaining connectivity among the pre-existing community, making sure that the three public calls are on schedule. 

Note that as the influx of new users has been low in the bear market and as we are temporarily without lending products, we have precious few user stories to offer new arrivals. This limited how extrovert the CWG could be and had us focusing on strengthening internal relationships as it makes us ill prepared for a big influx of new users. This has given me time to be very active both in GWG and in devising new lending products and coordinating alpha testing of said product. 

**CWG responsibilities:**
Governance stewardship: Leading community calls discussing new proposals, field community input, assisting in the proposal editing process. Bring better overall community visibility and interaction to new governance proposals.

Initial on-boarding and orientation for new contributors 

Community calls and activities (orientation calls, gaming, growth related community exposure)
Community Rewards,
Merchandise,
Promotional NFT’s,
Docs updates,
Discord moderation,
Telegram moderation,
Reddit moderation.

I propose that we continue to fund the CWG for an additional 90 days. As budgeting needs have been changing over time, there will be a budget refresh with an allowance refresh (overriding previous allowances) every 3 months. The allowed DOLA for ad-hoc payments and job adverts  remained unused last term but they may be required in the coming months. 

| Description                 | Estimated 3 Month Costs |
| ---------------------------- | ----------------------- |
| Ad-hoc Contributions to CWG  | 3,000 DOLA |  |                         |
| Job Adverts               | 1,000 DOLA                  |
| Gaming Prizes         | 1,000 DOLA                  |
| Community Activities/Rewards | 30 INV |  |                         |
| 3 Month Total       | 5,000 DOLA, 30 INV      |

Spend since the last budget refresh:
| Activity       | Spend |
| -------------- | ----- |
| Moderation     | 6000 DOLA |
| Gaming (Poker) | 800 DOLA  |

Link to the proposal on the forum: https://forum.inverse.finance/t/community-working-group-budget-refresh/160

Community Working Group Budget Refresh

#  Proposal to Launch a VELO Fed
Forum Post: https://forum.inverse.finance/t/proposal-to-launch-a-velo-fed/151

Summary: Building on our efforts to expand liquidity for DOLA on new exchanges, this proposal aims to authorize the launch of the “Velo Fed” meant to support our [DOLA-USDC pool](https://app.velodrome.finance/liquidity/manage?address=0x6c5019d345ec05004a7e7b0623a91a0d9b8d590d) on Velodrome.

**Background:**

Velodrome is an automated market maker (AMM) launched in early June 2022, adapted from Solidly (for Fantom) with built-in vote-locking and a bribing system similar to Votium. Prior to launch, Inverse Finance DAO was offered one of the initial veNFT’s, providing us with 1% of voting rights at the time of launch of the Velodrome platform. This has allowed us to grow and sustain two LPs on Optimism ([DOLA/USDC](https://app.velodrome.finance/liquidity/manage?address=0x6c5019d345ec05004a7e7b0623a91a0d9b8d590d) with $750k and [DOLA/ETH](https://app.velodrome.finance/liquidity/manage?address=0x43ce87a1ad20277b78cae52c7bcd5fc82a297551) with $213k depth) at no cost to the DAO. These two LPs are now amongst our deepest, including the LP’s on Ethereum and Fantom chain.

We believe that the Velodrome team has successfully patched and improved the original functionality of Solidly, which despite initial success (reaching [$2.29B TVL](https://defillama.com/protocol/solidly) at one point) had evident flaws that ultimately led to its demise. The team has a achieved a healthy balance between emissions, incentives for voters, trading fee distribution and good return per Dollar invested in bribes as a result of a logical initial distribution, a controlled overall reduction of emissions and rebases, control of token listings, an increase in non-emission rewards for voters, and the addition of a human layer to support the protocol.

**Motivation**

Layer 2’s are widely viewed as the future for Ethereum and as Velodrome already has taken position as the dominant stablecoin DEX on Optimism ([TVL currently over $75M](https://defillama.com/protocol/velodrome)), it is poised to rival Curve. Establishing DOLA as one of the first stablecoins with deep liquidity on Velodrome would open up significant opportunities for Inverse Finance DAO to expand and partner with lending markets within the Optimism ecosystem. By launching a VELO Fed, the DAO will be able to significantly deepen liquidity in the DOLA-USDC pool on Velodrome. Furthermore, the fed will be able to farm the VELO reward token for doing so, which in turn will be locked to increase the DAO’s voting power, meaning more rewards can be directed to the gauges in the future.. We are paving the way for low slippage trades, fed deployments in partnering lending protocols, and reliable DOLA farming opportunities for our users. This will likely generate large, permanent revenue streams for both Inverse Finance and Velodrome. 

**On Chain Actions:**

grant DOLA minting rights to the fed contract

Proposal to Launch a VELO Fed

# Proposal to Increase BBP Allowance for use in Code4Rena Bug Bounty Contest
Forum Link: https://forum.inverse.finance/t/proposal-to-increase-bbp-allowance-for-use-in-code4rena-bug-bounty-contest/163

### Summary

This is an extension of proposal #58 titled: [“Proposal to authorize allowance for formal audits”](https://www.inverse.finance/governance/proposals/mills/58), which granted the Bug Bounty Program an allowance to 60,000 DOLA and 100 INV. Funds have since been utilized to onboard Defimoon as security consultants, and allowance now sits at 51,000 DOLA and 86.2 INV. This proposal aims to increase the current DOLA allowance to 80,000 DOLA (effectively an increase of 29,000 DOLA), in order to cover our forthcoming Bug Bounty Contest hosted on the Code4rena platform, as well as expenses to retain the services of [Defimoon](https://www.inverse.finance/blog/posts/en-US/new-security-layer-a-welcome-to-the-defi-moon-team) through the months of October and November. The remnant funds will be deposited into a Bug Bounty vault on the Hats Finance platform. 

### Code4rena Bug Bounty Contest

Inverse is soon to announce the launch of a new, never before seen in DeFi, lending market. A final hurdle to surpass and a crucial step in guaranteeing a flawless launch and continued operation of the product is to host a bug bounty contest. Several qualified security projects and firms have been vetted by our RWG, and, after a period of deliberation, we are excited to commit to Code4rena as host platform for the contest.

We have agreed to the following terms; Inverse will host an open contest for up to 5-days on the Code4rena platform and fund a reward pool with $50,000. During this time, we can expect between 50 and 130 wardens (auditors) to review our codebase and provide us with invaluable feedback. We believe that mitigating risk at this stage of our development is of paramount importance and this engagement to be necessary for our new product launch.

### Defimoon Engagement

DeFi Moon has been providing their services as security consultants since September 10th, and have worked diligently to audit our Convex Fed, Velo Fed, and Aura Fex (ongoing) contracts. In this time, they have proven to be a talented and genuine team and have played their part in helping identify security-related bugs in a timely manner. We consider bug bounties to be a lasting complement to any external or in-house security audit capabilities that Inverse develops. As such, we intend to retain Defimoon’s services for the next two months, and have them work concurrently to the bug bounty contest. 

### Bug Bounty Vault

After the termination of the Code4rena bug bounty contest, Inverse will launch a bug bounty vault on the Hats Finance platform and fund it with the remaining allowance funds. This vault will be grown over time as part of our ongoing commitment to safety. 

### On Chain Actions

Set Bug Bounty Program DOLA Allowance to 80,000

Proposal to Increase BBP Allowance for use in Code4Rena Bug Bounty Contest

Inverse Finance

Track Inverse Finance (INV) governance proposals, voting results, and on-chain participation on DefiLlama.

Title
undefined	3 May, 2026	2 Jun, 2026	Executed	6,232	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	5,737	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	7,120	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	7,192	25.63
undefined	3 May, 2026	2 Jun, 2026	Executed	8,330	40.00
undefined	3 May, 2026	2 Jun, 2026	Executed	7,908	25.00
undefined	3 May, 2026	2 Jun, 2026	Executed	8,761	62.81
undefined	3 May, 2026	2 Jun, 2026	Executed	5,713	35.00
undefined	3 May, 2026	2 Jun, 2026	Executed	6,403	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	14,083	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	4,156	0.00
undefined	3 May, 2026	2 Jun, 2026	Queued	4,040	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	7,724	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	10,208	48.76
undefined	3 May, 2026	2 Jun, 2026	Executed	10,290	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	14,908	0.00
undefined	3 May, 2026	2 Jun, 2026	Executed	11,653	12.12
undefined	3 May, 2026	2 Jun, 2026	Executed	16,305	9.00
undefined	3 May, 2026	2 Jun, 2026	Executed	15,300	40.00
undefined	3 May, 2026	2 Jun, 2026	Executed	27,440	6530.00
# Upgrade Governance to GovernorMills	10 Oct, 2021	12 Oct, 2021	Executed	6,232	0.00
# Use $77K Dai to buy DOLA at a discount ...	23 Sep, 2021	25 Sep, 2021	Executed	5,737	0.00
# Add LP tokens to Anchor, reduce xINV re...	9 Sep, 2021	12 Sep, 2021	Executed	7,120	0.00

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