# 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

#  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

# 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

# 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

# ## 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

# 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

# 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

#  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.

Increase Governance Quorum and Submit Proposal Requirements

# 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

# 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

# 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

# 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 Authorize Compensation for Inverse Finance Core Contributors

# 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

# 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

# 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

# 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

# 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

# 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.

# 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.

# 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

# 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 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

#  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

# Proposal to grant TWG allowance for the purchase of emission-controlling tokens
# Proposal to grant TWG allowance for the purchase of emission-controlling tokens

Forum Post: https://forum.inverse.finance/t/proposal-to-grant-twg-allowance-for-the-purchase-of-emission-controlling-tokens/161

## Proposal

This proposal requests the DAO grant an allowance of 275,000 DOLA to the TWG meant to be used over a subsequent 2-4 month period for investing and building long-term positions in emission-controlling tokens, such as yCRV, CVX, sdCRV, sdBAL, SDT, AURA, and VELO. At the discretion of the TWG, an amount less than the approved allowance may be used depending on market conditions.

## Background

Since April, the TWG (in collaboration with RWG) has been leading various liquidity strategies for the DAO in order to support and strengthen DOLA. This initiative began with entering the curve wars, forming a [partnership with Yearn](https://www.inverse.finance/blog/posts/en-US/new-salvo-curve-wars) to launch the Yearn Fed (currently the main supplier of DOLA liquidity), and has since progressed with the recent launching of the [FraxBP Fed](https://www.inverse.finance/blog/posts/en-US/%20Announcing%20the%20New%20DOLA-FRAXBP%20Pool%20on%20Curve), and migration of [INV-DOLA liquidity to Balancer](https://twitter.com/InverseFinance/status/1573342337052409857). Building on our efforts to expand liquidity for DOLA, the TWG will soon put forward proposals to authorize the launch of a [Velo Fed](https://forum.inverse.finance/t/proposal-to-launch-a-velo-fed/151) (Velodrome Finance) and an Aura Fed (Aura Finance).

## Motivation

Emission-controlling tokens such as CRV, CVX, AURA and VELO can be locked into vote escrow, which grants voting power for controlling which LP emissions on their platform are sent. vlCVX represents veCRV voting power, which is used to control where CRV emissions are sent weekly on the Curve platform, providing yields on Convex. vlAURA represents veBAL voting power, which controls BAL emissions on Balancer, creating yield on AURA. veVELO controls where VELO emissions are directed on the Velodrome protocol on Optimism.

Directing emissions towards DOLA pools on these platforms creates yield opportunities, which in turn creates demand for DOLA. As the DAO does not hold sizeable positions in any of the tokens, the TWG has had to "bribe" 3rd party holders with INV tokens in order for them to vote for DOLA pools and create yield opportunities. This means that INV token price remains very sensitive, potentially being a single point of failure if the price plummets and bribes of the necessary size can no longer be placed using it. The DAO acquiring the emission-controlling tokens helps mitigate this risk by reducing dependency on the INV token.

As the DAO builds positions in yCRV, CVX, AURA and VELO, these tokens can be used to direct rewards to DOLA pools meaning that the reliance on INV emissions to support DOLA reduces. In the long term, 0 INV emissions will be required for supporting DOLA; and DAO operations will once again be sustainable for the first time post-April 2nd exploit. In this scenario, a large portion of the downward sell pressure on INV will be removed, meaning more value can accrue to current INV holders.

### Why is deep DOLA liquidity needed?

There are 2 main reasons as to why the DAO should keep and maintain deep DOLA liquidity.

Firstly, as Nour has hinted on various social platforms, we can expect a new lending market never seen before in DeFi to be launched before the end of 2022. In order to deal with and facilitate large amounts of borrowing on this new platform whilst maintaining a safe DOLA peg, deep liquidity is required to absorb the sell pressure allowing for efficient stableswaps.

Secondly, as a result of the exploits on now depreciated lending markets earlier this year, it is essential for there to be deep liquidity along with high circulation in order for the impact and risk to DOLA holders to be minimized. Currently, there is around $9.5MM DOLA bad debt in the ecosystem, an amount that is slowly being reduced on a weekly basis thanks to the TWG-led bad debt repayments. While the DAO is now [making use of novel ways](https://www.inverse.finance/blog/posts/en-US/How%20Inverse%20Is%20Thinking%20Outside%20The%20Box%20on%20Frontier%20Debt%20Repayments) to further reduce bad debt in conjunction with standard repayments, the most likely scenario is that this initiative will be a multi-year effort. In the meanwhile, these DOLAs won’t be contractible by Feds in the eventuality that DOLA demand is reduced.

### Future Revenue

*Please note, this section is speculative!*

As a stablecoin issuer and lender, Inverse Finance DAO is in a position to profit significantly from owning emission-controlling tokens. We are currently enduring a “crypto bear market”, with the majority of tokens, especially DeFi tokens, being down significantly from previous highs. The future revenues to the DAO should we enter a new “crypto bull market”, having accumulated high-quality emission-controlling tokens during the “bear”, will be of notable size.

Simplifying the process - if the reward tokens (CRV/CVX/BAL etc) market price increases by a multiple of 5x during the next “bull market”, then the amount of TVL liquidity that previously bought tokens will also roughly increase by 5x. At the same time, assuming Defi borrow rates increase as borrowing demand significantly increases, a trend of the past bull market, Inverse Finance DAO as a stablecoin issuer and lender stands to gain hugely.

Based on the current environment/market, a $275k investment is expected to allow Inverse DAO to incentivize a further $8.5m in additional TVL across DOLA liquidity. At 52.5% DOLA balance, this is an additional $4.46MM in DOLA demand. If earning a return of 7% per DOLA, averaged from fixed-rate lending interest and Market Fed revenue (yearn fed/frax fed/aura fed), this brings in annual revenue of ~$310k. Having over a 100% return for the year is phenomenal; after the initial payment is clawed back, all further revenue from the asset (which in theory should continue in perpetuity, until Inverse DAO decides to exit the ecosystem) is profit.

*It’s important to note that these holdings expose the DAO to market price fluctuations downwards as well as upwards, and the previous examples were purely for demonstrational purposes.*

### Why $275k? Current DAO Runway

Currently, the DAO targets to maintain at least 12 months of operational expenses available as liquid assets. This means that even if the DAO generates negative cashflows during periods of poor markets, the operations of the DAO can continue for a long time before needing to raise additional capital (If revenues are at $0, then operations can continue for 12 months. If revenues are at 50% of operation expenses, then operations can continue for 24 months, etc). Currently, due to an already strong treasury, further strengthened by OTC deals with partners such as the [$283k transaction with Concave](https://twitter.com/NourHaridy/status/1561763082380394496?s=20&t=TipaiyPlNgBLeCtZ-gmIeA), the Inverse DAO treasury has funds far above 12 months of operational expenses. The 12 months of operational expense runway requirement is subject to be changed in the future if deemed necessary (for example, weak market conditions may require an increase). If operational expenses increase in the future, then excess spending will be decreases to ensure at least 12 months runway can be maintained.

**Breakdown:**

|Working Group|Monthly Expense|Yearly Expense|
| --- | --- | --- |
|Dev|$37,667|$452,000|
|GWG|$16,227|$194,724|
|RWG|$15,000|$180,000|
|CWG|$12,000|$144,000|
|AWG|$11,623|$139,480|
|TWG|$10,000|$120,000|
|Total|$102,517|$1,230,204|

**Liquid Treasury Value:**

|Blockchain|Asset|Value|
| --- | --- | --- |
|ETH|DOLA|$534,866|
|ETH|DAI|$372,158|
|ETH|USDC|$202,105|
|ETH|DOLA-FraxBP|$700,036|
|Total||$1,809,165|

**Runway:**

|Cash Available|$558,9612|
| --- | --- |
|Months Runway|17.65|

The TWG believes that optimizing excess cash above 12-month operational costs is the most effective use of capital for the DAO at this stage, with long-term sustainable growth in mind.

### Exit Options

The majority of these tokens are liquid wrappers with shorter lock durations than the underlying assets; this means that the DAO likely has the opportunity to exit positions if the desire exists. Also, if DAO operations start eating into the 12-month runway, then should stablecoins be deemed as more valuable to the DAO at that point then positions can be exited. The lock times for the suggested tokens are:

vlCVX = 16-week rolling lock, meaning that there’ll likely be batches of CVX unlocking every 2 weeks

vlAura = 16-week rolling lock, meaning that there’ll likely be batches of Aura unlocking every 2 weeks

yCRV = no lock, can exit via the market at any point as long as there is liquidity

sdCRV = no lock, can exit via the market at any point as long as there is liquidity

sdBAL = no lock, can exit via the market at any point as long as there is liquidity

veVELO = 4 year lock, very long time so unrealistic that it’ll be possible to exit

veSDT = 4 year lock, a very long time so unrealistic that it’ll be possible to exit; this token is considered a “cost” in order to get voting power bonuses for sdCRV and sdBAL


## On-Chain Actions

* Add 275,000 DOLA allowance to the current TWG DOLA allowance of 740,000. This means setting TWG DOLA allowance to 1,015,000.

Proposal to grant TWG allowance for the purchase of emission-controlling tokens

#  Proposal to Launch an AURA Fed
Forum Link: https://forum.inverse.finance/t/proposal-to-launch-an-aura-fed/162

Summary: Building on our efforts to expand liquidity for DOLA on new exchanges, this proposal aims to authorize the launch of the “Aura Fed” meant to support our DOLA-bb-a-USD pool on Balancer.

### Background

Around March 2022, Balancer (AMM) Protocol launched a ve-style tokenomics system, identical to Curve’s in order to control the BAL rewards going to LPs. The upgrade had a slow start in terms of usage and people locking their BAL tokens. Then, in June 2022, AURA, a direct fork of Convex, launched, leading to a significant increase in the efficiency and usage of the veBAL ecosystem. LPs could now get max rewards boost by depositing liquidity into Balancer via AURA, without needing to have a large personal veBAL balance. Redacted Cartel shortly thereafter launched Hidden Hand, a system used for bribing vlAURA holders, much like how Votium is used for bribing vlCVX holders.

As of right now, bribing AURA holders is more efficient compared to bribing CVX holders:

* $1 bribe on Votium generates $1.47 of rewards to LPs on Convex
* $1 bribe of Hidden Hand generates $2.66 of rewards to LPs on Aura

### Motivation

On October 9th, a proposal to enable the DOLA-bb-a-USD gauge [passed via Balancer governance](https://vote.balancer.fi/#/proposal/0xaef16a6db81dfa06d3b7ba373f121dc6369bfbf35b125a96df7b0e140d271fb8). This means as of now, Inverse Finance can launch an Aura Fed (Fed that mints and deposits DOLA directly into an LP on Balancer, and deposits this to AURA to farm the rewards) while bribing for this LP, allowing Inverse Finance to harvest/reclaim a sizeable portion of the rewards while significantly deepening DOLA liquidity.

This allows for Inverse DAO to exercise immediate peg control/management whilst also building up a sizable position in Aura which will be used for voting and directing further emissions to DOLA gauges. The DAO has already accumulated a large Aura position, meaning bribe cost for the $ amount of liquidity expected is already fairly low.

This is important for the DOLA ecosystem as it means we are trending towards sustainability (not reliant on a single 3rd party for DOLA liquidity, or bribing with the INV token), as we lessen our dependence on the Curve ecosystem for DOLA liquidity (reducing risk to the DAO in the event of a CRV, CVX death spiral). This will also likely generate large, permanent revenues for the DAO, and result in an LP with depth large enough to facilitate very successful stableswaps at size, clearing the way for a strong launch of our new lending product.

### On chain actions

grant DOLA minting rights to the aura fed contract

Proposal to Launch an AURA Fed

# Proposal to Authorize Compensation for Inverse Finance Contributors
This is a follow-up proposal from the Community Working Group Budget Refresh https://www.inverse.finance/governance/proposals/mills/67 in order to put Donuts on payroll rather than being paid by CWG Multisig. Donut's pay for CWG related tasks such as moderation will be unchanged at 2000 DOLA/month and backdated to November 1, 2022.

Assuming this proposal is executed on November 13th, backpayment is the following: 855 DOLA

Backpayment calculation:
* 2000 DOLA * 12 Months = 24,000 DOLA per year
* 24,000 DOLA / 365 Days = 65.75 DOLA per day
* 65.75 DOLA * 13 Days = ~855 DOLA

### On-chain Actions:

* Send 855 DOLA to 99Donuts99
* Add 99Donuts99 to DOLA payroll, at a rate of 24,000 DOLA per year

Proposal to Authorize Compensation for Inverse Finance Contributors

# Treasury Working Group Allowance Refresh
# Treasury Working Group Allowance Refresh
## Summary

Forum post: https://forum.inverse.finance/t/treasury-working-group-allowance-refresh/171

Refresh Treasury Working Group (TWG) allowances in order to continue optimizing the management of Inverse Finance DAO’s treasury assets. The TWG endeavors to provide long-term value and support to the DAO and DOLA ecosystem.

Notable previous TWG allowance proposals (with links):

* [Create a Treasury Working Group](https://www.inverse.finance/governance/proposals/mills/10) (March 2022)
* [Treasury Working Group Allowance Refresh](https://www.inverse.finance/governance/proposals/mills/40) (May 2022)
* [Proposal to grant TWG allowance for the purchase of emission-controlling tokens](https://www.inverse.finance/governance/proposals/mills/70) (October 2022)

## Background

The TWG was formed in early 2022 in order to optimize the management of treasury assets, giving the DAO the ability to engage in DeFi actions that were otherwise impossible (or very challenging) to interact with via on-chain governance (due to 5-day proposal delay, inability for signing (snapshot), etc).

We encourage DAO members to view the historical actions performed by the TWG, it’s recorded on-chain for all to view:

Transaction history (Gnosis UI): https://app.safe.global/eth:0x9D5Df30F475CEA915b1ed4C0CCa59255C897b61B/transactions/history

On-chain history (etherscan): https://etherscan.io/address/0x9D5Df30F475CEA915b1ed4C0CCa59255C897b61B#tokentxns

The TWG Multisig requires 3 of 4 signatures to execute transactions, with the signers being:

* @Cryptoharry (Head of TWG)
* @Nour (TWG & Founder)
* @Edo (Head of Risk Working Group (RWG))
* @Karm (RWG)

At the present time, some particular DAO assets are being stored on the TWG multisig for optimized management. Please view the debank profile for an up-to-date view: https://debank.com/profile/0x9d5df30f475cea915b1ed4c0cca59255c897b61b

Comments:

* vlAURA ($254k) - Accumulated via purchases and farming rewards from INV/DOLA on Aura. The cost is significantly lower than the current market value. Tokens are used for voting towards DOLA gauges on Balancer. Votes need to be placed every 2 weeks (snapshot), as well as token relocks (on-chain).
* vlCVX ($323k) - Accumulated mostly via Yearn Fed revenue purchases and farming rewards from various DOLA pools on Convex. The cost is lower than the current market value. Tokens are used for voting towards DOLA gauges on Curve. Votes need to be placed every 2 weeks (snapshot), as well as token relocks (on-chain).
* INV/DOLA on Aura ($600k) - Accumulated via OP bond program (migrating Sushi LP into Balancer, then staking on Aura). Currently staked on Aura farming rewards profitably ([see the proposal here](https://www.inverse.finance/governance/proposals/mills/61)) which are then converted to vlAURA.
* DOLA-bb-a-usd on Aura ($350k) - DAO stablecoin holdings that are currently farming rewards while staked on Aura.
* DOLA-FraxBP on Convex ($350k) - DAO stablecoin holdings that are currently farming rewards while staked on Convex.
* Inverse Finance Frontier Assets ($400k) - Stuck ETH, wBTC, YFI from Frontier, received directly from users interacting with bad debt repayment contracts ([see the proposal here](https://www.inverse.finance/governance/proposals/mills/57)). For accounting purposes, these assets will eventually be repaid from the April 2nd exploiter’s (0xeA0c959BBb7476DDD6cD4204bDee82b790AA1562) borrow balance.

The TWG also operates on Optimism (transaction history can be [viewed here](https://app.safe.global/oeth:0xa283139017a2f5BAdE8d8e25412C600055D318F8/transactions/history)), please view debank for up to date view of assets held: https://debank.com/profile/0xa283139017a2f5bade8d8e25412c600055d318f8

* veVELO ($207k) - Accumulated for a very low cost (~$28k) relative to market value, growing with further investments and the [Velo Fed](https://www.inverse.finance/governance/proposals/mills/68). Used for voting to incentivize DOLA pools on Velodrome Protocol (constant relocks required to maximize voting power).

## Allowance Request

The TWG requests allowances for treasury assets to enable their management and ability to execute on opportunities (often at short notice), such as OTC deals. Allowances will often seem large, however, this is because they are used very quickly when executing regular DeFi actions. Below we will outline the allowance request, with a short explanation of intentions; however, please note that opportunities often emerge at short notice (ie liquidating loans on Rari pool to save the DAO $260k - https://discord.com/channels/790157548845924352/945047917020991578/1023933374739529758), thus the TWG reserves the discretion to use allowances for reasons not stated within this proposal to the benefit of the DAO.

Up to date status of current allowances on the [multisig can be viewed here](https://www.inverse.finance/transparency/multisigs) (not all TWG allowances are depleted and need refreshing).

We encourage readers to review the linked proposals scattered above for more detailed information related to various allowance requests.

DOLA
* TWG requests an allowance of 1,500,000 for liquidity rebalancing, emission-controlling token purchase and bad debt repayments

DAI
* TWG requests an allowance of 500,000 for liquidity rebalancing, DOLA peg defence and bad debt repayments

USDC
* TWG requests an allowance of 500,000 for liquidity rebalancing, DOLA peg defence and bad debt repayments

INV
* TWG requests an allowance of 11,000 INV for bribes towards DOLA pools, please see the breakdown below.
* TWG requests an allowance of 4,000 INV for OTC deals and liquidity rebalancing/deepening.

CRV
* TWG requests an allowance of 100,000 (gained via profits from [Frax Fed](https://www.inverse.finance/governance/proposals/mills/66)) for vote locking, to further incentivize and support DOLA

CVX
* TWG requests an allowance of 10,000 (gained via profits from [Frax Fed](https://www.inverse.finance/governance/proposals/mills/66)) for vote locking, to further incentivize and support DOLA

BAL
* TWG requests an allowance of 100,000 (gained via profits from [Aura Fed](https://www.inverse.finance/governance/proposals/mills/71)) for vote locking, to further incentivize and support DOLA

AURA
* TWG requests an allowance of 500,000 (gained via profits from [Aura Fed](https://www.inverse.finance/governance/proposals/mills/71)) for vote locking, to further incentivize and support DOLA

INV-WETH (Uniswap)
* TWG requests an allowance of 1,000 for liquidity management/rebalancing

### INV Bribe Allowance

Over the past few months, all liquidity incentivization has been moved off Frontier and done via external markets such as Curve (Convex) and Balancer (Aura). In order to bring reward incentivization to DOLA pools on these platforms, voter power is needed which is often bribed for. This has proven significantly more capital efficient than rewarding LPs directly with INV on Frontier, due to $1 in bribes leading to greater than $1 in rewards and far more exposure to the wider market of LPs.This does however mean that a large INV allowance is required for the TWG to execute weekly bribes to continue the support of DOLA. The current breakdown of INV bribes (subject to change for further optimization):

* DOLA-FraxBP (Curve) - 450 INV per week
* DOLA-INV - 200 INV per week
* DOLA-a-bb-usd - Currently 75 INV per week, but expecting to ramp up to ~200 INV per week in the near future
* Total = 850 per week, 13 weeks in 3 months, 3 months = 850 INV * 13 weeks = 11,050 INV

As laid out [in a previous proposal](https://www.inverse.finance/governance/proposals/mills/70), a long term goal is to significantly reduce INV token emissions/spend on liquidity incentivization through the purchase of emission controlling tokens. Good progress has already been made, with millions in DOLA liquidity able to be incentivized using the treasury’s vlAURA, vlCVX and veVELO. It is however important to keep INV bribes high in the short-medium term while DOLA bad debt remains high, and in order to support a successful launch and operations of Inverse Finance’s soon-to-be-launched lending protocol, FiRM. This is because deep liquidity is required for efficient stableswaps and resilient peg control (controlled by the various market Feds).

## On-chain Actions

* Approve allowance of 1,500,000 DOLA to the TWG Mutlisig
* Approve allowance of 500,000 DAI to the TWG Mutlisig
* Approve allowance of 500,000 USDC to the TWG Mutlisig
* Approve allowance of 15,000 INV to the TWG Mutlisig
* Approve allowance of 100,000 CRV to the TWG Mutlisig
* Approve allowance of 10,000 CVX to the TWG Mutlisig
* Approve allowance of 100,000 BAL to the TWG Mutlisig
* Approve allowance of 500,000 AURA to the TWG Mutlisig
* Approve allowance of 1,000 DOLA-WETH (Uniswap) to the TWG Mutlisig

#  Launch FiRM - The Fixed Rate Money Market Protocol
Forum Link: https://forum.inverse.finance/t/launch-firm-the-fixed-rate-money-market-protocol/168

## **Summary:**

This proposal aims to authorize the launch of Inverse’s newest product, “[FiRM](https://www.inverse.finance/firm.pdf)”, as well as grant the rights needed for operations to the Fed Chair and RWG multisig.

## **Background:**

In February 2021, Inverse Finance launched its first decentralized money market, Anchor, and a fully-recallable debt-backed stablecoin, DOLA. Less than two years later, we are excited to release what we believe will be regarded as one of the greatest contributions to DeFi - FiRM.

Our experiences with variable rate lending markets, cross-collateral asset pools, and volatility in the markets this year led us to re-examine several assumptions about our business and challenge several assumptions about the broader DeFi lending market.

While Inverse has played in variable rate lending markets in 2021 and much of 2022, we are increasingly convinced that hyper-growth in DeFi lending will not occur via historically volatile variable interest rate lending but rather through more predictable and more coherent fixed-rate lending. Fixed-rate DeFi lending TVL today is a fraction of variable rate lending due to a combination of high rates, short maturities, and otherwise user-unfriendly business models. Similarly, the inflexible nature and the security issues inherent in cross-collateral asset pools is ripe for reinvention.

With these two industry-wide problems in mind, we present [FiRM](https://www.inverse.finance/firm.pdf). We envision a world where most goods and services are traded against decentralized stablecoins and central to that vision is the ability to extend credit in innovative ways. Our new primitives in FiRM enable us to scale up fixed-rate DeFi lending in previously unseen ways.

## **FiRM:**

The Fixed Rate Market or “[FiRM](https://www.inverse.finance/firm.pdf),” is a new DeFi lending market protocol from Inverse Finance that implements a new DeFi primitive, DOLA Borrowing Rights, and a collateral architecture, Personal Collateral Escrows. DOLA Borrowing Rights provide a rights-based approach to lending that solves for the second order trade-offs made by variable rate lending protocols that attempt to control the peg of their stablecoin. Users benefit from the certainty of fixed-rate loans while gaining optionality and speculative opportunities from the price movements of the borrowing rights. Personal Collateral Escrows isolate collateral deposits by individual wallet address and by token, allowing for more efficient use of their collateral such as retention of voting rights for any governance tokens deposited as collateral.

FiRM will unlock new possibilities in DeFi including:

* Fixed-rate loans for any duration
* Interest rate speculation and hedging
* New Pessimistic Oracle design
* Powerful risk management tools
* Access to voting using collateralized gov tokens (e.g. UNI, COMP, MKR)

Reformulating loan interest expense as a borrowing right solves multiple foundational challenges for the DeFi industry. It highlights how decentralized smart contracts can lend in more elegant and more composable ways than is possible with traditional “off-chain” TradFi systems. By implementing DOLA Borrowing Rights and Personal Collateral Escrows, the DeFi industry brings a more secure and less volatile set of lending tools to a broader segment of the financial services industry, realizing yet another aspect of the potential of decentralized finance.

For Inverse Finance, this opens a range of new lending opportunities including serving DAO credit needs, institutional desire for risk limited DeFi exposure and desire by speculators to capture better returns. Radically improving our foundational security infrastructure by launching DBR borrowing rights and Personal Collateral Escrows enables us to open up composable partnership opportunities and charge the feature development pipeline.

## **Version 1.0**

Upon launch, FiRM will be in “guarded mode” with a single market of wrapped Ether and a limited amount of DOLA available to borrow. WETH was chosen for the debut market as it’s considered as pristine as a collateral can get on the Ethereum blockchain. A DOLA lending supply cap will be controlled by the RWG multisig and it will always be considered in relation to DOLA circulating supply and liquidity. Any decision regarding future expansions of the market will be actively managed by our Treasury and Risk Working groups. We are determined to stay true to our improved security posture and gradually add new markets to FiRM as usage grows and the DOLA ecosystem evolves. We have many exciting and innovative ideas to build on top of FiRM involving new markets, use cases for DBR, liquidation mechanisms, and more that will require extensive internal code review and external auditing.

Frontier, our deprecated money market, will remain the place for INV stakers to continue receiving staking rewards. The v1 markets and their interactions with the DOLA IOU and Debt Repaye will also remain.


## **On-Chain Actions**

**DBR:**
- Call addMarket with the weth market address

**Market:**
- Call setBorrowController with the deployed borrowController
- Set collateralFactorBps to 7000 (70%)

**FiRM FED**
- Set supplyCeiling to 500,000 DOLA for global market
- Set marketCeiling to 500,000 DOLA for weth market

**Dola:**
- Add Market Fed as a minter 

**BorrowController:**
- Call setDailyLimit to set maximum daily borrow limit. 

**Oracle:**
- Call setFeed with WETH address, the ETH Chainlink feed, and the correct amount of decimals.

Launch FiRM - The Fixed Rate Money Market Protocol

# Proposal to Launch DBR Token
# Proposal to Launch DBR Token

Forum post: https://forum.inverse.finance/t/proposal-to-launch-dbr-token/172

## Summary:

This proposal aims to authorize liquidity contracts for Inverse’s newest token, “DBR” or DOLA Borrow Rights, as well as grant the rights needed for initial operations to the TWG multisig.

## Background:

The DOLA Borrow Rights token, known as DBR, provides holders with the right to borrow one DOLA for a period of one year. It is best thought of as an initial upfront cost of borrowing, replacing the ongoing interest accumulation that is commonly seen throughout DeFi borrowing. This means that when DBR’s are purchased by a user, that cost of borrowing has been locked in - so the user is unaffected if future interest rates rise for that particular loan.

The amount of DBR’s needed to borrow DOLA on FiRM can be represented by the table below, assuming DBR cost is $0.04:


|DOLA to Borrow|Terms rated|DBR Needed|DBR Cost|
| --- | --- | --- | --- |
|1000|1 year|1000 * 1 = 1000|1000 * $0.04 = $40|
|1000|2.5 years|1000 * 2.5 = 2500|2500 * $0.04 = $100|
|1000|3 months|1000 * 0.25 =250|250 * $0.04 = $10|


While a user has an outstanding DOLA loan, the DBR token is gradually burned from their wallet. This burn rate is always at a pro-rata basis at a rate equivalent to 1 DBR per 1 DOLA borrowed per 1 year. This is a burn rate of 0.00273973 DBR’s per day per DOLA borrowed.

It should be noted that users may elect to limit their upfront DBR expense when executing a loan and instead add more DBR’s later. Users may add additional DBR’s to their wallet at any time to extend the length of the loan or support additional loans. There are no maturity dates. Additional DBR’s may be procured from the open market at any time. Also, many users will simply roll the costs of their DBR’s into their DOLA loan at the time of origination.

## Launch Tokenomics

DBR total supply on launch = 4,646,000

On execution of this proposal), 1,096,000 DBR will become available to claim to users who participated in the airdrop. The criteria for this is:

* INV Stakers on October 30th: 2,000 DBR
* FiRM alpha testers: 1,000 DBR
* 114 accounts from airdrop signup form: 1,000 DBR. NOTE: Airdrop signups were heavily botted, meaning Inverse Analytics had to cleanse data, removing suspected bot addresses
* Inverse Finance DAO Core Contributors: 1,000 DBR

Please see Google Sheet with full breakdown of DBR airdrop distribution: [DBR_Launch_Distribution](https://docs.google.com/spreadsheets/d/1u20cf8E57vxwYLeWODW9ORmL7b2kos7yhUS-Y8e8gek/edit?usp=sharing)

Airdrop smart contract: 0x4C7b266B4bf0A8758fa85E69292eE55c212236cF

In order to support the open market liquidity, the TWG will be given an allowance of 1,250,000 DBR to pair with 50,000 DOLA, to be deployed on Balancer V2. This starts DBR with an initial launch price of $0.04. This liquidity is intended to be passively managed

To further support DBR open market liquidity, a further 300,000 DBR allowance is allocated to the TWG that will be paired with ~10,000 DOLA. This will be actively managed within a UniSwap V3 position as part of a trial to determine if greater market and capital efficiency can be achieved via a tight range.

It should be noted that the TWG will need to manually set up DBR liquidity on execution of this proposal. Therefore, there will be a short amount of time between this proposal being executed and there being protocol-owned liquidity on the market (for users looking to buy/sell DBR).

An additional allowance of 2,000,000 DBR will be given to the TWG for the purpose of executing small-scale vested OTC sales with future partners when future opportunities arise.

To summarize:

|Purpose|DBR Minted|
| --- | --- |
|Community Airdrop|1,096,000|
|Passive market liquidity|1,250,000|
|Actively managed market liquidity|300,000|
|Future OTC Sales allowance|2,000,000|
|Total|4,646,000|

## DBR Issuance

At launch, the issuance of new DBR tokens will be 0.

Due to the current DOLA liquidity environment, along with FiRM’s launch being ‘guarded’, no additional DBR’s will need to enter the market at launch as DOLA loans will be limited. The initial supply of DBR’s will be sufficient to facilitate FiRM’s launch.

When it is determined that additional DBR supply is needed to facilitate more aggressive DOLA lending on FiRM, a subsequent proposal will be submitted to the DAO - ‘Proposal to begin issuance of new DBR tokens’ outlining the scale and policy behind the expansion.

## On-Chain Actions:

* Call mint for 4,646,000 amount of DBR to Treasury to set up initial liquidity, airdrop, and future OTC swaps
* Set TWG DBR allowance to 3,550,000
* Call approve for 1,096,000 amount of DBR to Airdrop merkledrop address
* Call seedNewAllocation for 1,096,000 amount on the merkledrop address

Proposal to Launch DBR Token

# Growth Working Group INV Allocation Request 
The GWG requests 300 INV from the Inverse Finance treasury to be used for ad hoc payments to vendors who on occasion ask to be paid in INV instead of DOLA. We currently have outstanding payables of 102 INV and request an additional 198 INV for potential use in 2023.

Link to forum post:  https://forum.inverse.finance/t/growth-working-group-inv-allocation-request/174

Growth Working Group INV Allocation Request

# Proposal to relaunch Aura Fed
# Proposal to relaunch Aura Fed

Forum Post: https://forum.inverse.finance/t/proposal-to-relaunch-aura-fed/178

## Background and Summary

The Aura Fed was originally launched via a proposal that was executed on November 7th 2022. To date, this Fed has operated profitably, with $1.8MM deployed to the DOLA-bb-a-USD pool on Aura, currently earning AURA/BAL rewards at an APR of 24.35%, equivalent to $8.4k per week. For more details on Aura Fed v1, including deployment parameters, please review Proposal 71, [linked here](https://www.inverse.finance/governance/proposals/mills/71).

Aura has recently announced it will need to migrate all vault contracts to new ones to deal with a non-critical bug, and in doing so will be deprecating current vaults, including our DOLA/bb-a-USD vault. Note: The LP on Balancer is unaffected. Due to migration by the Aura team, our Fed liquidity will soon stop earning rewards.

This proposal aims to redeploy the Aura Fed, pointing at the new rewards contract, so it can start earning AURA/BAL rewards. The new Aura Fed will need to be given DOLA minting rights in order to do this. The v1 Aura Fed will be fully contracted as part of the liquidity migration, and DOLA minting rights will be removed as it is no longer needed.

We have taken this opportunity to add an additional security upgrade to the AURA Fed. A privileged role (adjustable by gov) to adjust maxLossWithdrawBps will be given to the RWG Multisig via the guardian role. Along with gov, the RWG Multisig will therefore be able to make changes to the maxLoss parameter. This means in situations where decisive action to contract the new Aura Fed needs to be taken quickly, the RWG can step in to adjust the current maxLossWithdrawBps if set too low, and in doing so can bypass the 5-day delay of gov intervention.

On-Chain Actions:

* Add AURA Fed v2 as a DOLA minter
* Remove AURA Fed v1 as a DOLA minter

Proposal to relaunch Aura Fed

# Q1 2023 INV Token Mint and Updated INV Market Cap Protection Strategy
Forum Link: https://forum.inverse.finance/t/q1-2023-inv-token-mint-and-updated-inv-market-cap-protection-strategy/183

**Authors**: Policy Committee Working Group Members

**Summary**

Reduce the INV inflation rate to reflect new liquidity strategy while maintaining DAO operations at current levels:

* Deployment of new liquidity management strategy that reduces reliance on new INV emissions without losing significant TVL
* Temporary reduction in monthly bond emissions for Bond Protocol (formerly Olympus Pro)
* Maintain current dilution protection in parity with bond emissions, resulting in reward rate below 100%

**Background**

[Please see the Q4 Mint proposal here.](https://www.inverse.finance/governance/proposals/mills/64)

[Please see the original Inverse Plus proposal here](https://www.inverse.finance/governance/proposals/mills/6)

The Inverse Finance [Treasury](https://etherscan.io/address/0x926df14a23be491164dcf93f4c468a50ef659d5b) requires additional INV tokens early in January to ensure operations and rewards continue uninterrupted. The majority of INV token emissions go towards INV Stakers (dilution protection), DOLA liquidity incentivisation and bonding.

As has been established as the DAO’s common practice throughout the year of 2022 beginning with the proposal for Inverse Plus in Q1 2022, there is a DAO-approved mint of INV tokens roughly every 3 months. The Policy Committee recommends 50,000 INV tokens be minted, to cover the next 90 days of estimated INV staking rewards, liquidity bribes, and our Bonding Protocol program. However, this proposal is not a guarantee the INV token's rate of emission for the future, the next mint proposal may come sooner or later than 90 days.

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

**Moving Forward: Revised INV Staking APR & Market Cap Protection Strategy**

[The INV+ proposal that passed in early February](https://www.inverse.finance/governance/proposals/mills/6) 2022 outlined new INV tokenomics where INV stakers were provided dilution protection from the inflating supply via INV rewards. In essence, how this works is when INV circulating supply inflates, the majority of the new INV tokens are directed to INV stakers. This ensures that the INV tokens emitted to other activities (incentivisation, bonding etc) will not dilute a stakers holding (maintaining ownership as a % of circulating supply).

The INV+ proposal recommended that the APR to stakes would not drop below 100% during this process, which has been abided by throughout 2022. To maintain this, it often meant that INV emissions going towards stakers was significantly larger than was needed to guarantee dilution protection to stakers. This has come at a cost to INV holders who are not staked, including liquidity providers on exchanges (DEX’s and CEX’s), while also causing large downward pressure on INV tokens market price (due to this, the best way of judging value as an INV token staker is via INV’s market capitalization rather than market price).

Going forward, the Policy Committee recommends that the DAO trial a move away from the 100% minimum APR to stakers. Dilution protection can be achieved for stakers with APR being lower than 100%. Gaining flexibility in this regard will allow for more users to provide liquidity (at a cheaper cost to the DAO), it will also allow the DAO to achieve higher efficiency on longer maturity bonds. With an APR of 100%+, the rational participant would require a larger discount when the maturity of the bond is longer (10+ days), as market buying and staking INV for the period would achieve a similarly high return in INV terms. With a lower APR for naked INV exposure (staking), the Policy Committee will trial focusing on these longer maturity bonds (28+ days), as logic suggests that the longer maturity bonds attract more genuine investors to the DAO rather than marketplace arbitragers seeking a quick profit.

**Market Reaction: INV Inflation Measures**

It is important to note that INV’s market cap has performed quite well when compared to other stablecoin DAO competitors in DeFi. Data taken on December 29th comparing market cap drop from a few competitors show:

||June 29|December 29|% Drop|
| --- | --- | --- | --- |
|LQTY|75.2|52.7|-29.9%|
|QI|19.4|7.1|-63.4%|
|ALCX|31.6|23.2|-26.6%|
|FXS|333|315.6|-5.2%|
|MKR|817.8|469|-42.7%|
|SPELL|92.8|57.2|-38.4%|
|INV|11.2|8.3|-25.9%|

The median (excluding INV): -34.1%

The mean (excluding INV): -34.4%

With upcoming product and partnership announcements, setting up an environment that does not threaten to dampen positive momentum is beneficial to the DAO. This is as a more favourable market performance of INV token:

* Allows for deeper liquidity to be incentivized using less INV, meaning larger lending capacity for FiRM
* Larger revenues from bonding using less INV
* Increased retention of core contributors with a vested interest, and stronger attraction in contributor recruitment process

To prepare this environment, the Policy Committee is trialing a 66% reduction in monthly bond emissions, with the starting focus solely on the 28 day DOLA bond. In addition to this, the TWG is executing a new strategy that aims to significantly reduce new INV emissions during liquidity management, without losing significant TVL; this is achieved via utilizing the many tools and protocols at the TWG and Fed Chair’s disposal. These planned actions will allow 2023 to start with a significantly reduced inflation rate to the circulating supply of INV token.

The situation is constantly monitored, and the intention would be to increase the INV spend again further down the line when it’s of greater benefit to the DAO.

**Other Business**

Claim the INV from Nour’s deprecated vester, which has now expired. The INV in this contract (3,333.34) will be sent directly to the DAO Treasury on claim.

**On-Chain Actions**

* Mint 50,000 INV to DAO Treasury
* Set INV Staking Contract INV allowance to 40,000 (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)
* Claim Nour’s deprecated vested INV.

Q1 2023 INV Token Mint and Updated INV Market Cap Protection Strategy

# Proposal to Upgrade Convex Fed and Adjust Velo & Aura Fed
Forum Link: https://forum.inverse.finance/t/proposal-to-upgrade-convex-fed-and-adjust-velo-aura-fed/182

**Convex Fed Upgrade**

This proposal aims to redeploy Convex Fed, with new logic that allows the smart contract to deal with any “bad debt” in the accounts resulting from slippage on expansions and contractions. Currently, after fully contracting (burning all supplied DOLA) the Fed, if dolaSupply is greater than 0, this will permanently be seen as “bad debt” in the accounts. This can be resolved by sending the DOLA amount to the contract balance; however, presently dealing with the dolaSupply accounting issue is not possible. The upgraded contract includes logic that allows the DAO to send DOLAs to the Fed in this situation, and have it be burnt from supply meaning it’s officially deducted from dolaSupply in the Feds accounts. This upgrade does not improve security or carry any additional risks; it simply allows for cleaner on-chain accounting. To execute, DOLA minting rights will be removed from the current Convex Fed v2 and given to the new Convex Fed v3. Then liquidity in the DOLA-FraxBP will be migrated over from one Fed to the other in a way that aims to minimize negative slippage experience by Convex Fed v2 (to reduce the unsolvable accounting issue).

**Aura & Convex Fed maxLossExpansionBps Adjustment**

In order to give greater flexibility to the Fed Chair on AMM Fed liquidity management, it is proposed that the maxLossExpansionBps be increased from 10 bps to 13 bps. The current parameter setting has hindered the Fed Chair’s ability to make small targeted strategic expansions and has ultimately cost the DAO additional revenues. A minor increase of 3 bps will address this and unlock more beneficial options for the DAO.

**Velo Fed maxSlippageBpsDolaToUsdc Adjustment**

In order to allow for the DAO to ramp up Fed presence on Velodrome’s DOLA-USDC pool, an increase to the maxSlippageBpsDolaToUsdc is required to allow for DOLA to be swapped to USDC on Ethereum before being bridged to Optimism. Currently, maxSlippageBpsDolaToUsdc is set to 25 bps, which commonly means executing the swap is impossible. This severely limits the ability to ramp the Velo Fed, as Velodrome requires LP deposits to be in both tokens (DOLA and USDC) in the current balance of the pool. Ramping the Velo Fed allows for the DAO’s bribe to the DOLA-USDC pool to be matched with increasing incentives by the Velodrome team, while also farming VELO rewards which are reinvested to DOLA liquidity operations. In order to achieve this, access to the far deeper Ethereum L1 liquidity is required. Increasing the maxSlippageBpsDolaToUsdc to 35 bps will allow for this.

**On-Chain Actions**

* Remove Convex Fed v2 as a DOLA minter
* Add Convex Fed v3 as a DOLA minter
* Increase Aura Fed v2 maxLossExpansionBps to 13 bps
* Increase Convex Fed v3 maxLossExpansionBps to 13 bps
* Increase Velo Fed maxSlippageBpsDolaToUsdc to 35 bps

Proposal to Upgrade Convex Fed and Adjust Velo & Aura Fed

# Implementing Payroll Adjustment for Core Contributor Compensations
Forum Link: https://forum.inverse.finance/t/implementing-payroll-adjustment-for-core-contributor-compensations/179/1

**Proposal:**

To help address the issues of inflation and competitive salary pressures on the compensation of core contributors, we propose implementing a payroll adjustment for their salaries. This adjustment will ensure that their salaries continue to be fair, given the changes in the cost of living over time and more responsive to competitive compensation.

**Rationale:**

Inflation is a natural phenomenon that results in a general increase in prices over time. This means that, without adjustments, the purchasing power of a fixed salary will decline as the cost of goods and services rises. By implementing an annual payroll adjustment, we can help to ensure that the salaries of core contributors are adjusted to keep pace with inflation. This will help to maintain the purchasing power of their compensation and ensure that it remains fair and adequate.

**Implementation:**

* Determine the rate of adjustment: In order to implement an appropriate adjustment, we propose reviewing the rate of inflation on an annual basis. Traditionally, this is done by calculating the average annual rate of change in the price level of a basket of goods and services that are commonly consumed by core contributors. YoY, USD inflation sits at [7.7%](https://www.usinflationcalculator.com/inflation/current-inflation-rates/), Euro inflation at [10%](https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Inflation_in_the_euro_area#:~:text=Highlights&text=Euro%20area%20annual%20inflation%20is,from%2010.6%20%25%20in%20October%202022.&text=The%20%EF%AC%81gures%20presented%20in%20this,of%20Consumer%20Prices%20(HICP).), and GBP at [13.2%](https://www.in2013dollars.com/UK-inflation-rate-in-2022). In our case, these three currencies are considered since the majority of Inverse’s core contributors live in Europe and the United States. We will consider the rate of inflation to be the greatest of the three and round it up to a whole figure, 15%, which also captures certain competitive salary pressures.

* Calculate the adjustment: Once the rate of inflation has been determined, the adjustment can be calculated by multiplying the rate of inflation by the current salary of each core contributor. For example, if the rate of inflation is 15% and a core contributor currently earns a salary of $120,000, their adjustment would be $18,000 (15% x $120,000 = $18,000).

* Implement the adjustment: The adjustment can be implemented by adding it to the current salary of each core contributor. For example, if a core contributor currently earns a salary of $120,000 and receives an adjustment of $18,000, their new salary would be $138,000.

* Review and update the adjustment annually: To ensure that the adjustment continues to adequately compensate core contributors for the impact of inflation, we propose reviewing and updating it annually. This will ensure that it remains fair and adequate, given the changes in the cost of living over time.

**Looking forward:**

Inflation can have a significant impact on the purchasing power of fixed salaries, and this is particularly true for core contributors who play a vital role in the success of our DAO. By implementing an annual adjustment, we can ensure that their compensation remains fair and adequate, given the changes in the cost of living over time. This will help to maintain the purchasing power of their salaries and ensure that they are adequately compensated for their valuable contributions. Ultimately, offering competitive compensation rates and retaining talent is in the best interest of the DAO.

**Payroll Adjustments:**

||Wallet|Monthly Payroll 2022|Monthly Payroll 2023|Yearly Payroll 2022|Yearly Payroll 2023|
|---|---|---|---|---|---|
|Patb|0xE58ED128325A33afD08e90187dB0640619819413|$12,000|$13,800|$144,000|$165,600|
|Ishita|0x27b8D1347bE36Ff697b48d1D74323E6a9f28eA6D|$3,000|$3,450|$36,000|$41,400|
|Alien|0x34A7a276eD77c6FE866c75Bbc8d79127c4E14a09|$12,667|$14,567|$152,000|$174,800|
|0xmt|0x9F3614afb3Df9f899caDBFfaA05c6C908059F726|$12,500|$14,375|$150,000|$172,500|
|naoufel|0xFDa9365E2CDf21d72cb0dc4F5FF46F29e4aC59CE|$10,000|$11,500|$120,000|$138,000|
|cryptoharry|0x962228a90eaC69238c7D1F216d80037e61eA9255|$10,000|$11,500|$120,000|$138,000|
|nakamomo|0xBB20d477d4F22d7169ad4c5Bd67984362BE8bad0|$10,000|$11,500|$120,000|$138,000|
|99donuts99|0xc8a6fdd2586af7980776dc610c159a92e9db11c3|$2,000|$2,300|$24,000|$27,600|
|Karm|0x2723723FDd3Db8ba2D6f0e1B333e90A7E60A0411|$5,000|$5,750|$60,000|$69,000|
|Edo|0xED9376094Ce37635827E0Cfddc23bFbb6D788469|$10,000|$11,500|$120,000|$138,000|
|||||||
||Total|$87,167|$100,242|$1,046,000|$1,202,900|


**Other Business:**

Refresh the DOLA allowance of the Inverse Payroll contract to 1,000,000 - this is what allows Inverse Finance DAO contributors to be streamed DOLAs for compensation.

**On-chain actions:**

- Set DOLA allowance of payroll contract to 1,000,000
- Remove PatB, Ishita, Alien, 0xMT, Naoufel, CryptoHarry, Nakamomo, 99Donuts99, Karm, and Edo from current payroll
- Add new payrolls for PatB, Ishita, Alien, 0xMT, Naoufel, CryptoHarry, Nakamomo, 99Donuts99, Karm, and Edo

Implementing Payroll Adjustment for Core Contributor Compensations

#  Proposal to Add DWF Labs as Market Maker for Inverse Finance 
*Original forum post, Risk Working Group, and current DWF proposal here: http://bit.ly/3QzZIP6* 

**Summary**

Sell $1MM in INV tokens to DWF Labs at 15% discount with all proceeds dedicated to reducing outstanding DOLA bad debt.

**General Background**

Current DOLA bad debt is approximately $9.5MM which we began reducing in June 2022 while we continue to explore ways to accelerate the reduction in order to more rapidly scale DOLA lending on FiRM and on partner protocols. One mechanism for accomplishing this reduction is via strategic investors who can not only help reduce DOLA bad debt but also help us expand revenues and accrue additional value to INV holders.

One category of strategic partner that has to-date remained uncovered is market makers. Most readers of this proposal will recognize this term but for those unfamiliar, here is an overview 1. Since INV was listed on Coinbase in early 2022, volatility in the price of INV can be attributed in part to the relatively thin liquidity supporting INV on both decentralized and centralized exchanges. We recognized early on the value of a third-party market maker to help reduce volatility and also to assist us in securing new CEX listings and began discussion with two well known names in the industry. However, the April 2022 oracle price manipulation combined with other crypto market downdrafts like UST put a pause on those conversations. Note that both of those firms sought a loan of a significant number of INV tokens in order to perform INV market-making operations, in addition to other terms.

Separately, we have been approached by many low- and mid-tier CEX partners over the past year and we have resisted using DAO treasury funds to pay CEX listing fees, instead investing capital in new product development, risk management, and liquidity operations. This remains our position today.

This proposal summarizes an opportunity to partner with a relatively new market maker, DWF Labs, to both provide market-making services for INV and also to help us make a material reduction in bad DOLA debt.

**Background on DWF Labs**

- Home: https://www.dwf-labs.com/
- Crunchbase: https://www.crunchbase.com/organization/dwf-labs
- Founder interview: Andrei Grachev, Managing Partner at DWF Labs, Expounds on why they’re Choosing to Double Down on Crypto Innovations Despite the Bear Market https://bit.ly/3CEuYqs

DWF primarily focuses on market-making operations and claims a large number of clients, though they have been recently active in making taking ownership positions in individual token projects per this link on Defillama: https://defillama.com/raises/dwf-labs

**Notes:**

- $15MM pledge to the Binance Industry Recovery Initiative Blockchain Reporter on Binance Feed: DWF Labs Allocates $15M to Support Distressed Protocols Through Binance Labs’ Web3 Industry Recovery Initiative | https://www.binance.com/en/feed/post/96278 

- Success in market making for TONcoin: "DWF Labs has announced that they will provide $10 million to help support the expanding TON ecosystem. In addition, there will be a total of 50 seed investments made throughout the course of the following twelve months. Each investment is made with the intention of hastening the expansion of TON and the projects it oversees."  "In addition, DWF Labs plans to boost the amount of TONcoin transactions across all supporting platforms in order to attract a larger number of players in the TON ecosystem. At the moment, the daily trade volume for TONcoin might reach up to $20 million."  https://bit.ly/3w2xVgN 

- While DWF is a new/newer name in market making, the nature of their proposed relationship (owning INV vs borrowing) and their willingness to work with Inverse in a market where others have paused their new clients makes market making with DWF an attractive option for the DAO.

**Team**

- Team is doxxed https://www.dwf-labs.com/about 
- Founder/MD formerly ran Huobi Russia, BD contact we are working with previously did BD for Okex. A reference customer we know believes their CEX credentials are good and they can be expected to show results.
- Global footprint

**Proposal**

DWF proposes a cash purchase of INV over a period of up to 140 days at a 15% discount. This is distinct from prior conversations with MM’s, including Wintermute, who proposed a loan of INV tokens for 12 months in addition to other terms. See forum post https://bit.ly/3QzZIP6 for additional details about the proposal from DWF.

**Some notes on their proposal:**

- DWF may delay some daily buys if price spikes higher
- DWF initially proposes to make CEX markets for INV on Coinbase and Gate.io.

**Proposed Changes to the DWF Proposal**

The opportunity to reduce DOLA bad debt in a material way makes this proposal especially valuable to the DAO, however in order to ensure DWF completes the $1MM commitment, we would structure the payout of the 15% discount. I.e., write an OTC smart contract that enables daily INV buys of $10K with no discount via a price oracle utilizing the INV-DOLA pool on Balancer, track the equivalent of 15% of the daily INV buy and hold it in reserve, and remit the full reserve in the contract to DWF upon successful completion of the $1MM in daily buys.

**Benefits for Inverse**

- Reduced volatility on multiple DEX’s and CEX’s due to deeper INV liquidity and ongoing market making operations
- Good likelihood of INV being added to multiple new Tier 1 and Tier 2 CEX’s. While DWF is providing no assurance of a Binance listing, they are a leading market maker on Binance Futures and participate in the Binance Industry Recovery Initiative, which we believe will be a net positive towards that objective.
- Potential for sufficiently high trading volumes that result in qualification for Chainlink oracle for INV
- $1MM reduction in DOLA bad debt
- Potential introductions to other DWF partners, investors

**Risks**

Full risk assessment provided by the Risk Working Group is here: Risk Assessment of DWF Labs - https://bit.ly/3X6k2KH 

- DWF proposes to buy INV in $10K increments over a 100-day period. DWF could pause buying at any time before Day 100 and not complete its $1MM purchase commitment.

- Unlike MM’s who borrow a DAO’s governance tokens for MM ops, DWF is taking actual ownership of INV tokens and there are no provisions for Inverse Finance to reclaim those sold INV once the sale is complete. Thus there is a risk that DWF could, after realizing a sufficient profit, sell some or all of its INV inventory back into the market, thus requiring us to seek out new MM partner(s). We see reputational risk for DWF in such a move that outweighs the benefits to DWF.

- If DWF pauses its MM activities and chooses to exercise governance rights, it would become one of the largest holders of voting INV within the DAO.

**On-Chain Actions**

1. Initiate purchaser contract to go live on Sunday the 22nd of January 23:59:59 GMT
With
- A run time of 140 days
- A daily buy limit of 10,000 USDC
- A life time buy limit of 1,000,000 USDC
- A bonus of 15% Inverse token per buy, compared to the Balancer market price
- A minimum price per Inverse token of 20, set in DOLA terms

2. Fund Purchaser contract with 30000 Inverse Tokens

Proposal to Add DWF Labs as Market Maker for Inverse Finance

# Treasury Working Group Allowance Refresh
## Summary

As part of our reinstatement of the [Convex Fed](https://www.inverse.finance/governance/proposals/mills/79) and our continued efforts to reduce [INV emissions](https://www.inverse.finance/governance/proposals/mills/78), the TWG is requesting an allowance refresh for the following tokens: $CRV, $CRX, $INV, $USDC.

## CRV and CVX

Our recent [TWG allowance refresh](https://www.inverse.finance/governance/proposals/mills/73) approved allowance of 100,000 $CRV and 10,000 $CVX. The allowances for these tokens have been quickly depleted due to the reinstatement and rapid scaling of the Convex Fed. These emissions tokens, once harvested by the TWG, are recycled into bribes in the Curve ecosystem to secure DOLA TVL activating a flywheel for the DAO. This strategy of recycling CRV and CVX allows us to cut back INV token emissions and restore value to the governance token. In order to accommodate a growing Convex Fed for the coming months, we ask allowances be refreshed to 1,000,000 $CRV and 100,000 $CVX.

## INV

TWG requests a replenishment INV allowance of 12,000 $INV, as currently only ~3,890 $INV allowance remains. Although $INV expenditure has been reduced according to terms set forward in [Proposal #78](https://www.inverse.finance/governance/proposals/mills/78), $DOLA liquidity is still dependent on $INV token bribes as we work towards our goal of reducing and ultimately eliminating $INV emissions. It should be noted that during crypto black swan events (FTX demise, for example), the rate of INV spend conducted by the TWG often has to rise temporarily in order to ensure DOLA's peg (and reputation) is protected. The TWG continues to adapt and seek the most capital efficient use of $INV for securing $DOLA liquidity depth. Most recently the TWG has found success with Convex Votium, Stakedao Votemarket, Paladin Warden, Redacted Hidden Hand and continues to seek new more capital efficient systems.

## USDC

TWG requests an allowance of $USDC to store these assets in the Inverse Finance Treasury. Currently, over 700k $USDC Tokens sit in the TWG wallet, which have been deployed in various strategies throughout H2 2022. During periods of increased risk (or lowered returns), the preference is to hold the funds in cash rather than putting them to work; however, the current USDC allowance would mean that if stored in the treasury the TGW would not be able to pull it out again for management when opportunities arise. This allowance allows therefore gives the TWG the flexibility to pull and manage this $USDC freely while securing it in the Treasury when not in use. TWG is requesting an allowance of 5,000,000 $USDC for this purpose. Although allowances seem high, as outlined in previous allowance proposals moving these funds in and out of the treasury a few times burns up much of this allowance.

## Allowance Request Actions

TWG is requesting the following allowances to continue to manage and grow DOLA liquidity:

* Approve allowance of 0 $CRV to the TWG Multisig (needed for the next approval to work)
* Approve allowance of 1,000,000 $CRV to the TWG Multisig
* Approve allowance of 100,000 $CVX to the TWG Multisig
* Approve allowance of 12,000 $INV to the TWG Multisig
* Approve allowance of 5,000,000 $USDC to the TWG Multisig

Forum post (old version): https://forum.inverse.finance/t/treasury-working-group-q1-allowance-refresh/184

# Add stETH Market to FiRM
Forum Link: https://forum.inverse.finance/t/add-steth-market-to-firm/187

This proposal aims to add stETH as a collateral option on FiRM, setting collateral factor to 70% and an initial daily borrow limit of $100k. This proposal also intends to increase the collateral factor for the existing wETH market from 70% to 75%.

Background:

On December 16th, 2022, [Proposal #74](https://www.inverse.finance/governance/proposals/mills/74) titled: “Launch FiRM - The Fixed Rate Money Market Protocol” passed through Inverse governance. Since launch, FiRM has been operating flawlessly in “guarded mode” with a single market of wrapped Ether and a limited amount of DOLA available to borrow. WETH was chosen for the debut market as it’s considered as pristine as a collateral can get on the Ethereum blockchain. A DOLA lending supply cap is continuously monitored by the RWG and any expansion or contraction will always be considered in relation to DOLA circulating supply and liquidity. At this time, we are comfortable with onboarding a small selection of new collateral options that have passed our due diligence process, starting with stETH.

Any decision regarding future expansions of the market will be actively managed by our Treasury and Risk Working groups. We are determined to stay true to our improved security posture and gradually add new markets to FiRM as usage grows and the DOLA ecosystem evolves. We have many exciting and innovative ideas to build on top of FiRM involving new markets, use cases for DBR, liquidation mechanisms, and more that will require extensive internal code review and external auditing.

Summary:

The Inverse team has been targeting adding staking derivatives like stETH as collateral options since FiRM inception since they are relatively easy implementations given wETH market and generally existing synergies between rebasing tokens and FiRM’s personal collateral escrow (PCE) feature. The RWG believes Ethereum’s Shanghai upgrade will lead to more LSD adoption, not less. Predictability around withdrawal times makes yield more predictable. This is appealing for whales and large funds, who will consequently be inclined to stake more. Furthermore, stETH has successfully passed the RWG’s due-diligence process (risk assessment documentation can be found [here](https://docs.google.com/document/d/1SNNw7Hhf8KR4zbNmS8CzTUtIVXCyOsSMFtCO3ouZQFU/edit#)). Lido’s stETH is a powerhouse in the liquid staking category with over $7.4 Billion TVL [and growing](https://dune.com/hildobby/ETH2-Deposits), and an obvious choice for our first LSD integration.

At launch, the stETH market will have a collateral factor set at 70%. At the same time, we will increase wETH collateral factor to 75%. This will ease the migration of WETH to stETH markets for users who choose to do so. As we move out of the “beta” phase of FiRM production collateral factors will be increased appropriately.

On-Chain Actions:

DBR:

* Call addMarket with the stETH market address

Market:

* Call setBorrowController with the deployed borrowController
* Set collateralFactorBps of stETH market to 7000 (70%)
* Set collateralFactorBps of wETH market to 7500 (75%)

FiRM FED

* Set marketCeiling to 500,000 DOLA for stETH market
* Set FiRM's Global Supply Ceiling to 1,000,000 DOLA

Oracle:

* Call setFeed with stETH address, the stETH Chainlink feed, and the correct amount of decimals.

Add stETH Market to FiRM

#  Proposal to Add DWF Labs as Market Maker for Inverse Finance 
*Original forum post, Risk Working Group, and current DWF proposal here: https://forum.inverse.finance/t/proposal-to-add-dwf-labs-as-market-maker-for-inverse-finance/185* 

**Summary**

Sell $1MM in INV tokens to DWF Labs at 15% discount with all proceeds dedicated to reducing outstanding DOLA bad debt.

**General Background**

Current DOLA bad debt is approximately $9.5MM which we began reducing in June 2022 while we continue to explore ways to accelerate the reduction in order to more rapidly scale DOLA lending on FiRM and on partner protocols. One mechanism for accomplishing this reduction is via strategic investors who can not only help reduce DOLA bad debt but also help us expand revenues and accrue additional value to INV holders.

One category of strategic partner that has to-date remained uncovered is market makers. Most readers of this proposal will recognize this term but for those unfamiliar, here is an overview 1. Since INV was listed on Coinbase in early 2022, volatility in the price of INV can be attributed in part to the relatively thin liquidity supporting INV on both decentralized and centralized exchanges. We recognized early on the value of a third-party market maker to help reduce volatility and also to assist us in securing new CEX listings and began discussion with two well known names in the industry. However, the April 2022 oracle price manipulation combined with other crypto market downdrafts like UST put a pause on those conversations. Note that both of those firms sought a loan of a significant number of INV tokens in order to perform INV market-making operations, in addition to other terms.

Separately, we have been approached by many low- and mid-tier CEX partners over the past year and we have resisted using DAO treasury funds to pay CEX listing fees, instead investing capital in new product development, risk management, and liquidity operations. This remains our position today.

This proposal summarizes an opportunity to partner with a relatively new market maker, DWF Labs, to both provide market-making services for INV and also to help us make a material reduction in bad DOLA debt.

**Background on DWF Labs**

- Home: https://www.dwf-labs.com/
- Crunchbase: https://www.crunchbase.com/organization/dwf-labs
- Founder interview: Andrei Grachev, Managing Partner at DWF Labs, Expounds on why they’re Choosing to Double Down on Crypto Innovations Despite the Bear Market https://bit.ly/3CEuYqs

DWF primarily focuses on market-making operations and claims a large number of clients, though they have been recently active in making taking ownership positions in individual token projects per this link on Defillama: https://defillama.com/raises/dwf-labs

**Notes:**

- $15MM pledge to the Binance Industry Recovery Initiative Blockchain Reporter on Binance Feed: DWF Labs Allocates $15M to Support Distressed Protocols Through Binance Labs’ Web3 Industry Recovery Initiative | https://www.binance.com/en/feed/post/96278 

- Success in market making for TONcoin: "DWF Labs has announced that they will provide $10 million to help support the expanding TON ecosystem. In addition, there will be a total of 50 seed investments made throughout the course of the following twelve months. Each investment is made with the intention of hastening the expansion of TON and the projects it oversees."  "In addition, DWF Labs plans to boost the amount of TONcoin transactions across all supporting platforms in order to attract a larger number of players in the TON ecosystem. At the moment, the daily trade volume for TONcoin might reach up to $20 million."  https://bit.ly/3w2xVgN 

- While DWF is a new/newer name in market making, the nature of their proposed relationship (owning INV vs borrowing) and their willingness to work with Inverse in a market where others have paused their new clients makes market making with DWF an attractive option for the DAO.

**Team**

- Team is doxxed https://www.dwf-labs.com/about 
- Founder/MD formerly ran Huobi Russia, BD contact we are working with previously did BD for Okex. A reference customer we know believes their CEX credentials are good and they can be expected to show results.
- Global footprint

**Proposal**

DWF proposes a cash purchase of INV over a period of up to 140 days at a 15% discount. This is distinct from prior conversations with MM’s, including Wintermute, who proposed a loan of INV tokens for 12 months in addition to other terms. See forum post https://bit.ly/3QzZIP6 for additional details about the proposal from DWF.

**Some notes on their proposal:**

- DWF may delay some daily buys if price spikes higher
- DWF initially proposes to make CEX markets for INV on Coinbase and Gate.io.

**Proposed Changes to the DWF Proposal**

The opportunity to reduce DOLA bad debt in a material way makes this proposal especially valuable to the DAO, however in order to ensure DWF completes the $1MM commitment, we would structure the payout of the 15% discount. I.e., write an OTC smart contract that enables daily INV buys of $10K with no discount via a price oracle utilizing the INV-DOLA pool on Balancer, track the equivalent of 15% of the daily INV buy and hold it in reserve, and remit the full reserve in the contract to DWF upon successful completion of the $1MM in daily buys.

**Benefits for Inverse**

- Reduced volatility on multiple DEX’s and CEX’s due to deeper INV liquidity and ongoing market making operations
- Good likelihood of INV being added to multiple new Tier 1 and Tier 2 CEX’s. While DWF is providing no assurance of a Binance listing, they are a leading market maker on Binance Futures and participate in the Binance Industry Recovery Initiative, which we believe will be a net positive towards that objective.
- Potential for sufficiently high trading volumes that result in qualification for Chainlink oracle for INV
- $1MM reduction in DOLA bad debt
- Potential introductions to other DWF partners, investors

**Risks**

Full risk assessment provided by the Risk Working Group is here: Risk Assessment of DWF Labs - https://bit.ly/3X6k2KH 

- DWF proposes to buy INV in $10K increments over a 100-day period. DWF could pause buying at any time before Day 100 and not complete its $1MM purchase commitment.

- Unlike MM’s who borrow a DAO’s governance tokens for MM ops, DWF is taking actual ownership of INV tokens and there are no provisions for Inverse Finance to reclaim those sold INV once the sale is complete. Thus there is a risk that DWF could, after realizing a sufficient profit, sell some or all of its INV inventory back into the market, thus requiring us to seek out new MM partner(s). We see reputational risk for DWF in such a move that outweighs the benefits to DWF.

- If DWF pauses its MM activities and chooses to exercise governance rights, it would become one of the largest holders of voting INV within the DAO.

**On-Chain Actions**

1. Initiate purchaser contract to go live on Sunday the 28th of January 23:59:59 GMT
With
- A run time of 140 days
- A daily buy limit of 10,000 USDC
- A life time buy limit of 1,000,000 USDC
- A bonus of 15% Inverse token per buy, compared to the Balancer market price
- A minimum price per Inverse token of 45, set in USDC terms

2. Add DWF Labs address (0xD4B69e8D62C880E9DD55d419d5E07435C3538342) to whitelist

3. Mint 10,000 INV tokens

4. Fund Purchaser contract with 10,000 Inverse Tokens

# Change DWF Labs OTC Swap Wallet
# Summary

As disclosed in [Proposal 84](https://www.inverse.finance/governance/proposals/mills/84), an agreement with DWF labs to OTC swap 1,000,000 USDC for INV tokens at a 15% discount is underway. DWF Labs has informed Inverse DAO that they wish to use a different wallet to carry out the discounts than previously whitelisted on the proposal. This proposal will disabled the original wallet from the contract's whitelist, replacing it with the new wallet.

Old wallet: 0xD4B69e8D62C880E9DD55d419d5E07435C3538342
New wallet requested: 0x834FF5670A72EAa0166c5E494f9c80F0E77F6551

# On-Chain Actions

* Toggle allowWhitelist to false for 0xD4B69e8D62C880E9DD55d419d5E07435C3538342
* Toggle allowWhitelist to true for 0x834FF5670A72EAa0166c5E494f9c80F0E77F6551

Change DWF Labs OTC Swap Wallet

#  Proposal To redirect AURA Fed to new DOLA/USDC LP
Forum Link: https://forum.inverse.finance/t/proposal-to-redirect-aura-fed-to-new-dola-usdc-lp/186

## Background

On [January 6th,](https://twitter.com/Balancer/status/1611363559685898247) Balancer labs identified a critical issue with their bb-a-USD product that could not be thwarted using their emergency DAO. As a preemptive measure, Inverse Finance deprecated the DOLA/bb-a-USD LP. At the time the LP had over $8.7M TVL, but thanks to the Fed Chair’s swift actions, the pool shrunk to ~$150k in little over 48 hours after the announcement. No Inverse DAO funds or user funds were lost. As a result of the vulnerability and deprecation of the LP, Balancer no longer has a DOLA stable LP.

## Motivation

*So where does that leave Inverse Finance and the AURA fed?*

Prior to this vulnerability the AURA Fed was scaling massively with over 8M TVL completely sustained by fed profits recycled back around into bribes for the pool. This flywheel proved to be a powerful tool to secure DOLA liquidity depth for the DAO.

To continue the success of this system, the TWG, in close collaboration with the RWG, opted to seek a whitelist for new DOLA/USDC gauge on the [Balancer forum](https://forum.balancer.fi/t/enable-dola-usdc-stableswap-gauge-on-ethereum/4245). The request recently passed through[ Balancer’s governance](https://snapshot.org/#/balancer.eth/proposal/0xe1ed24d442c5346ed344ab9a520419857b75e2c0aba815165c308d597ad02c21) successfully, with over 4.6M veBAL voting in support for the gauge whitelist.

This governance proposal aims to accomplish two things:

* Deprecate and remove minting rights to the current AURA fed attached to the deprecated DOLA/bb-a-USD LP.
* Launch a new AURA fed pointed towards a new DOLA/USDC pool, assigning minting rights to the Fed Chair multisig
* Replicate the various maxLosses used on the old Aura fed, some of which were recently adjusted in [proposal 79](https://www.inverse.finance/governance/proposals/mills/79)

The DOLA/USDC LP is expected to be a staple liquidity source and peg controller for DOLA, and we are excited to once again bribe and operate a Fed on the Balancer platform.

Proposal To redirect AURA Fed to new DOLA/USDC LP

# Redeploy DWF Labs OTC Contract with Updated Parameters
**Summary**

As disclosed in [Proposal 84](https://www.inverse.finance/governance/proposals/mills/84), an agreement with DWF labs to OTC swap 1,000,000 USDC for INV tokens at a 15% discount is underway. DWF Labs has informed Inverse DAO that they wish to make the following changes to the existing OTC contract before initiating their commitment:

* Inverse will still use on chain Balancer data for price 
* Inverse will adjust price to reflect 15% discount instead of 15% bonus
* Inverse will add an additional 30 days of duration to the smart contract to 170 to account for days, if any, where CMC price might be lower than on-chain price and DWF chooses not to buy that day

**On-Chain Actions**
* Sweep old Purchaser contract of 10,000 INV tokens
* Initiate new Purchaser contract with the following parameters:
* - Start time: February 10th 00:01 2023
* - Run time: 170 days
* - Daily limit: 10k$
* - Lifetime limit: 1000k$
* - Discount: 15%
* - Min INV price: 50$
* Send 10,000 INV tokens to new Purchaser contract
* Add DWF wallet to whitelist of new Purchaser contract

Redeploy DWF Labs OTC Contract with Updated Parameters

#  Launch AuraEuler Fed to support new DOLA-bb-e-USD LP on Balancer
Forum Link: https://forum.inverse.finance/t/launch-auraeuler-fed-to-support-new-dola-bb-e-usd-lp-on-balancer/201

**Overview**

This proposal intends to launch a second Aura Fed, dubbed AuraEuler Fed, meant to support the new DOLA/bb-e-USD LP on Balancer. By doing so, Inverse can build up the liquidity of this new LP, and further develop DOLA on the Balancer/Aura ecosystem.

**Background**

On [January 6th](https://twitter.com/Balancer/status/1611363559685898247), Balancer labs identified a critical issue with their bb-a-USD product that could not be thwarted using their emergency DAO. As a preemptive measure, Inverse Finance deprecated the DOLA/bb-a-USD LP. At the time the LP had over $8.7M TVL, but thanks to the Fed Chair’s swift actions, the pool shrunk to ~$150k in little over 48 hours after the announcement. No Inverse DAO funds or user funds were lost. Pools previously paired with bbaUSD are transitioning to use bb-e-USD (Balancer Euler Boosted USD) as Balancer awaits the coming migration of bbaUSD to use Aave V3, which is expected in the next few weeks. Emissions for these new LPs, including the new DOLA-bb-e-USD LP, began on [February 16th](https://twitter.com/Balancer/status/1626235762399391745).

**Motivation**

Prior to the bb-a-USD vulnerability, the Aura Fed was scaling successfully with over $8M TVL completely sustained by fed profits recycled back around into bribes for the pool. This flywheel proved to be a powerful tool to secure DOLA liquidity depth for the DAO. To continue the success of this system and while we awaited a resolve, the TWG, in close collaboration with the RWG, opted to seek a whitelist for a new DOLA/USDC gauge on the [Balancer forum](https://forum.balancer.fi/t/bip-148-enable-dola-usdc-stableswap-gauge-on-ethereum/4245). The request passed through [Balancer’s governance](https://snapshot.org/#/balancer.eth/proposal/0xe1ed24d442c5346ed344ab9a520419857b75e2c0aba815165c308d597ad02c21) successfully, with over 4.6M veBAL voting in support for the gauge whitelist, and as of Inverse governance [proposal #86](https://www.inverse.finance/governance/proposals/mills/86), the original Aura Fed was redirected to point to the DOLA/USDC LP. This LP now sits at over $11M, and has been instrumental in once again bringing deep DOLA liquidity to Balancer. 

As of [BIP-178](https://snapshot.org/#/balancer.eth/proposal/0x46754cfd060b8f02d236813a9bf7900b86a43cfc1f26595814817da78a678536), a new configuration addressing the potential issues related to Balancer's previous composable stable pools (v2) has been deployed.This pool uses is composed of three Euler linear pools and is called bb-e-USD. The underlying tokens are USDC, DAI, and USDT. These are wrapped through Euler's market to earn LPs additional yield. Euler is a [heavily audited]((https://docs.euler.finance/security/audits)) and battle-tested protocol and we have confidence in assuming this added risk in pairing DOLA with the bb-e-USD product. At this stage, we are ready to launch the AuraEuler Fed meant to support this new LP.

These two DOLA stable LPs on Balancer are expected to be a staple liquidity source and peg controller for DOLA, and we are excited to continue bribing and operating a second Fed on the Balancer platform.

**On-Chain Actions**

* Launch AuraEuler Fed pointed towards a new DOLA/bb-e-USD pool, assigning minting rights to the Fed Chair multisig

Launch AuraEuler Fed to support new DOLA-bb-e-USD LP on Balancer

# Proposal to Launch Helper Contract (Auto-Buy DBR)
**Forum Link:** https://forum.inverse.finance/t/proposal-to-launch-helper-contract-auto-buy-dbr/191

This proposal aims to introduce a helper contract meant to assist FiRM users in buying DBR and selling DBR as a part of the borrowing and repayment transactions, and thus foregoing the need to procure DBR via any external website.

**Summary:**

FIRM, the new fixed rate lending market from Inverse Finance, makes use of a new DeFi primitive, DBR, to forego traditional interest rates.There is no interest rate for borrowing DOLA in FiRM. FiRM uses the DBR token to let you lock in a fixed rate.

A FiRM user simply holds DBR in their wallet to service the loan and the DBR balance will decay over time - in proportion to the size of their loan.

DBR must be present in a user’s wallet prior to borrowing DOLA on FiRM. Previously, this required one to purchase DBR on Balancer and/or Uniswap before attempting to open a position, but, assuming this proposal passes, the introduction of the helper contract will allow for the cost of a DBR purchase when taking out a loan to be added to your DOLA debt. The FiRM helper contract is designed to assist users in buying DBR as a part of the borrowing transaction, and will require a one-time transaction approval along with a signature.

The helper contract also allows users to withdraw collateral and sell their DBR in a single transaction when repaying their debt.

Finally, the helper function also contains methods to allow users to interact with FiRM WETH markets, without needing to convert their native Eth first.

**On-Chain Actions:**

* Borrow Controller: Whitelist Helper contract address to allow it to interact with FiRM markets.

Proposal to Launch Helper Contract (Auto-Buy DBR)

# Add gOHM Market to FiRM
Forum Link: https://forum.inverse.finance/t/add-gohm-market-to-firm/188

This proposal aims to add gOHM as a collateral option on FiRM, setting collateral factor to 75% and an initial daily borrow limit of $250k. 

**Background:**

On December 16th, 2022, [Proposal #74](https://www.inverse.finance/governance/proposals/mills/74) titled: “Launch FiRM - The Fixed Rate Money Market Protocol” passed through Inverse governance. Since launch, FiRM has been operating flawlessly in “guarded mode” with a single market of wrapped Ether and a limited amount of DOLA available to borrow. WETH was chosen for the debut market as it’s considered as pristine as a collateral can get on the Ethereum blockchain. A DOLA lending supply cap is continuously monitored by the RWG and any expansion or contraction will always be considered in relation to DOLA circulating supply and liquidity. At this time, we are comfortable with onboarding a small selection of new collateral options that have passed our due diligence process, continuing with gOHM.

Any decision regarding future expansions of the market will be actively managed by our Treasury and Risk Working groups. We are determined to stay true to our improved security posture and gradually add new markets to FiRM as usage grows and the DOLA ecosystem evolves. We have many exciting and innovative ideas to build on top of FiRM involving new markets, use cases for DBR, liquidation mechanisms, and more that will require extensive internal code review and external auditing.

**Summary:**

The due diligence conducted by Inverse Finance's Risk Working Group on gOHM by Olympus DAO has determined that gOHM is a suitable collateral for the fixed-rate lending market, FiRM. The gOHM token has demonstrated a strong track record of stability and has the necessary infrastructure in place to support its use as collateral on the platform.

The Olympus DAO team has a clear understanding of the lending market and has implemented appropriate risk management measures to ensure the safety and security of user funds. This includes one of the largest active bug bounty programs currently available, $3.3M in available rewards on the ImmuneFi platform.

The Risk Working Group has evaluated gOHM's technical and economic characteristics and has determined that it possesses the necessary attributes to be used as collateral on the FiRM platform. The token is liquid, is paired with other reliable tokens (wETH, USDC, AVAX, FTM, Temple) in deep LPs on different platforms (Uniswap, Sushi, Trader Joe, Spookyswap) and several chains (Ethereum, Arbitrum, Avalanche, Polygon, Fantom), thus addressing most SPOFs. gOHM also has an elegant oracle solution, making use of a Chainlink oracle for OHM and simple indexing.

Furthermore, the team behind Olympus DAO has shown a strong commitment to the development and growth of the project, which has been evident in their continued activity and building throughout the second half of 2022. The team is actively engaged with the community, and they regularly update and communicate their development progress and road-map.

Overall, the Risk Working Group is satisfied with its findings and a risk-assessment report summarizing this due diligence process can be found [here](https://docs.google.com/document/d/14hatSM3XxoNIxtRkoF2M_9l3WpbYkUoqV5_kn2fjkzQ/edit). The RWG is confident in the ability of gOHM to serve as a reliable and stable collateral on the FiRM platform. Based on these findings, the Risk Working Group approves gOHM as collateral on FiRM with an initial Collateral Factor (CF) of 75%. The addition of gOHM as collateral on FiRM will provide Olympus users a much needed additional option to secure loans.

**On-Chain Actions:**

DBR:

* Call addMarket with the gOHM market address

Market:

* Call setBorrowController with the deployed borrowController

FiRM FED

* Set marketCeiling to 1,000,000 DOLA for gOHM market

Oracle:

* Call setFeed with gOHM address, the Frax implemented gOHM<>USD Chainlink feed, and the correct amount of decimals.

Borrow Controller:

* Set daily borrow limit of the gOhm market to 250,000 DOLA

**Additional Actions:**

* Set Liquidation Factor for all three markets (wETH, stETH, gOHM) to 7500 bps (75%)

Add gOHM Market to FiRM

# Authorize Full-Time Compensation For Karm
I am posting this for @karm as I am whitelisted to post proposals on Governor Mills, Inverse Finance DAO’s on chain governance system. I have been working with Karm on and off for the better part of a year and I noticed him ramping up his engagement in January. I’m for Karm being put on payroll for full-time, effectively doubling his current half-time compensation from 5750 DOLA to 11500 DOLA per month.

Karm’s motivation:
I want to express my interest in full-time status (with adjustment of hours and comp) here at Inverse Finance… It’s been 9 months (April 17th) since the RWG was formed (proposal #022) and my role has since grown to assume many responsibilities. These include involvement in the analytics working group and alerts monitoring system, Incident Response Team, various Multisigs, becoming a valuable member of the Treasury Working Group and the Sec-Ops team, and having a role both in business development and as a treasury, policy, and growth strategist. I am also admin and manager of the discord server, a role I assumed in late 2021.

The RWG lead by @edo is ramping back up due to the launch of FiRM and various initiatives by the TWG and Growth team. To conduct thorough analysis of proper monitoring of these initiatives has become a full time task for a multi-person team. The RWG is also part of a 1 of 3 multisig that requires near immediate response time and 24/7 availability in the wake of an emergency. I am part of this multisig and have always been highly available and a first responder in these events.

The month following the formation of RWG I joined the TWG multisig initially as a custodial signer. This role has evolved into a full time TWG role participating in weekly strategy calls,and being available for emergency actions. The TWG msig is a 3 of 4 which requires near 24/7 availability from its owners and we’ve had multiple instances where we needed to act fast protecting the DAO where again I’ve been a first responder.

To excel at these roles and conduct proper due diligence requires more time from me which I am willing to commit to the DAO. To scale Inverse from a risk standpoint ultimately requires a multi-person team with availability to act 24 hours per day, 7 days a week. I have been participating in full time capacity since January 1st and have brought ample value to these high impact areas of DAO operations.

Forum link: https://forum.inverse.finance/t/proposal-to-authorize-full-time-compensation-for-karm/199

Authorize Full-Time Compensation For Karm

# Proposal to Grant TWG Allowance for r3gen Consultancy
# Proposal to Grant TWG Allowance for r3gen Consultancy

Forum post: https://forum.inverse.finance/t/proposal-to-grant-twg-allowance-for-r3gen-consultancy/193

## Background

Since the start of 2023, Inverse Finance DAO has been pursuing avenues to raise additional capital to accelerate the repayment of DOLA bad debt currently in the system. In order to support this effort the TWG is requesting an additional allowance in order to contract r3gen consulting services.

## Overview

r3gen’s expertise will assist Inverse Finance’s Treasury and Analytics working groups in further development of the in-house FP&A function to better communicate the story of Inverse’s finances, particularly to non-crypto-centric funds and VC’s.

Activities that r3gen may partake include

* FinOps review and uplift
* Guidance on web3 accounting best practices
* Training of Inverse Finance in-house bookkeeping resources
* Design and structure of FP&A function
* Provision of reporting template (i.e. investor report) and support with reporting best practices and template
* Advisory support with capital raise

The team at r3gen has a wide range of varied experience within web3, including work at Gitcoin and Aave. See more about the team on their [website here](https://www.r3gen.finance/). This relationship has been brokered by patb, having worked with the team at r3gen previously whilst at Index Coop.

## Finances

r3gen will provide 0.5 FTE to Inverse Finance DAO in order to carry out the consulting services. This will cost a fee of $3200 USDC and $5450 INV per month. Paid using the 5 day moving average at time of payment, with payment made at the end of each month’s delivery (50% initial upfront payment for first month made to commence the start of the working relationship).

This agreement has no set term and is renewed on a monthly basis provided the TWG (on behalf of Inverse Finance) remain satisfied with the work being carried out.

In order to facilitate the payment, the TWG requests an allowance increase that facilitates 3 months of USDC fee and ~3 months of INV fee to r3gen. As the INV amount sent to r3gen is dependent on INV market price at the time, the exact amount cannot be accurately determined at this point.

Given this:

3 month USDC fee: 9600 USDC

~3 month INV fee: 330 INV

Current TWG USDC Allowance: 4,960,000 USDC

Current TWG INV Allowance: 10,010

Requested allowance = current allowance + fee

## On-Chain Actions:

Grant TWG allowance of 4,969,600 USDC

Grant TWG allowance of 10,340 INV

Proposal to Grant TWG Allowance for r3gen Consultancy

# Authorize Full-Time Compensation For Ishita
Forum Link: https://forum.inverse.finance/t/proposal-to-authorize-full-time-compensation-for-ishita/200

I am posting this for @ishita as she does not have posting rights on GovMills. 

I have been working with Ishita nearly one year and she has been a hard-working, responsive, and creative designer for the DAO and the Growth Working Group. She joined us on a part-time basis and in recent months her workload with the FiRM launch and other initiatives like explainer videos has increased her workload well beyond 20 hours per week. I recommend Ishita be put on payroll on a full-time basis for the DAO, doubling her current part-time compensation from 3,450 DOLA to 6,900 DOLA per month.

From Ishita:

"I’d like to express my interest in converting to a full time position as the Visual Designer in the Growth Working Group here at Inverse Finance. I joined Inverse in May 2022 as a part-time contributor and n the past 10 months I’ve assumed a lot of new responsibilities and along the way, I’ve also learned many new skills and knowledge that can be an asset to the DAO. Since the launch of FiRM, I have created a series of useful content including the FiRM and the DBR logo, informative explainers with the help of Nakamomo, infographics, and a few animation projects that are currently in progress. After the FiRM launch, there has been a drastic growth in design requests in terms of magnitude, skills, and time required for each project.

My goal for 2023 is to continue building a strong and recognizable brand Identity for Inverse Finance based on the DAO’s existing brand identity work and more recent website redesign. There is growing demand (really good news!) for visual content from community, risk, and growth working groups that requires more than 20 hours per week and in November and December, it was more than 40 hours per week.

We have a great opportunity to expand our visual content output with a wide spectrum of things like:

**1. Graphics for social media and blogs.** This is what I began doing for the DAO and will continue doing this. We’ve made good progress with the launch of FiRM in solidifying our “look” to the world and the quality and quantity of images can now be increased. Most of our social media and blog design work is planned in advance, but sometimes there are urgent requests.

**2. Creating animations.** A few months ago I began creating animations in Adobe AfterEffects and our first animation was the FiRM narrative video. We can increase our output of animations now as I am getting more proficient with the app. For scripts I usually work with patb or nakamomo like the one we are currently doing for gOHM.

**3. Creating explainer videos.** We did our first explainer video for the FiRM launch and we seem to be creating a new one every 3-4 weeks.

**4. Creating infographics/web pages etc.** We also did our first infographic for the FiRM launch. This was a fun process and we came up with a nice product at the end. For new products or partnership collaborations, we can also do more infographics.

**5. Newsletter graphics.** In 2023 we can do more to improve our newsletter graphics!

**6. Other illustration, logo, icon & web design projects.** As we grow and add landing page or add special graphics to the inverse.finance app, I am available to work with @thealientourist to continue to improve the look of those assets. I also receive regular requests for icons and logos - like the DBR logo and the FiRM logo.

**7. Brand guidelines.** We are currently creating a brand identity guide for partners and media that includes a complete how-to on using Inverse logos, fonts, and other trademarks. This guide will be maintained on an ongoing basis.

**8. Creating merch design (print design,mock-ups etc).** We’ve only done a little of this at Inverse but we should try again to make cool Inverse merch!

**9. Anything else design related that the DAO needs.**

I enjoy working with our team and I plan on designing and maintaining a bold and memorable brand identity for Inverse Finance through engaging content that can help us communicate with our community in the most authentic way. For me to do this to my full potential it will require my full-time attention which is why I want to convert to a full-time contributor here at Inverse.

**Note - please change the wallet address for Ishita's payroll to 0x29A62d30A0814F28c8665977d51DFF95181085B6**

Authorize Full-Time Compensation For Ishita

# Proposal to Increase Karm’s Vesting Contract
Forum Link: https://forum.inverse.finance/t/proposal-to-increase-karm-s-vesting-contract/205

# Proposal to Increase Karm’s Vesting Contract

## Motivation
My full time compensation proposal has passed through governance and executed February 24th. In addition, I’m proposing my part time vesting contract be increased to reflect full time status to finalize this move.

To attract, retain and align the interests of top talent with INV holders and the DAO, Inverse rewards core contributors with vested governance tokens. Previously I had been awarded two separate vesting contracts, the first as a growth contributor previous to being salaried and the second when I became salaried as part time in the Risk Working Group. This proposal aims to align my vested INV with EDO who is full time in the Risk Working Group and other full time contributors at the DAO.

Contributor vesting contracts will continue being a powerful tool for INV holders ensuring aligned interest and motivation. The Inverse Finance core contributors have shown resilience and perseverance through some difficult and uncertain times over these last years. 2023 is shaping up to be a powerful year at Inverse Finance and I’m happy to be involved here.

### Proposal Actions:

Current INV Vesting = 412

Increased INV Vesting = 355.35

New INV Total Vested = 767.35

Proposal to Increase Karm’s Vesting Contract

# Add Curve FiRM Market
Forum link: https://forum.inverse.finance/t/lets-add-crv-as-collateral-to-firm/208
Summary

Add CRV as collateral option on FiRM, setting collateral factor to 75% and an initial daily borrow limit of $250,000.

#Business Rationale

CRV currently has nearly $700 million in market capitalization and daily trading volumes averaging approximately $100 million and it is Curve DAO’s governance token. Curve is best known for its low-slippage stablecoin AMM, and for the CRV vote-locking which has spawned a parallel industry of “vote escrow” governance token projects like Convex, Aura, Velodrome, and others. Inverse has participated actively in CRV’s vote-locking since Q2 2022, voting and “bribing” others to vote to have Curve DAO supply CRV incentives to DOLA liquidity pools. While a large portion of CRV tokens are vote escrowed (locked) for a 1-4 year period in a non-ERC-20 token called veCRV, large amounts of CRV (over 50% as of July 2022) are circulating and can be made more productive as loan collateral.

FiRM was launched in guarded mode in mid-December 2022 with WETH as the initial market and we have since added stETH and gOHM as collateral. We are gradually lifting borrow caps and raising collateral factors to increase the availability of collateral options which meet both user preferences as well as the DAO’s risk profile. The success of FiRM depends on finding product market fit and appeal to a wider set of users by expanding collateral options…

Current CRV lending markets on Ethereum mainnet include Fraxlend, where users may borrow Frax at variable rates currently in excess of 10%, and Aave v2 who maintains over $110MM in CRV TVL though new borrowing is deprecated. A proposal is live in Aave’s governance to bring CRV to Aave v3, however, we believe that at least one early stage fixed and variable lending protocol on mainnet is planning to announce CRV as collateral in the near future.

The initial value proposition for CRV on FiRM emphasizes a lower cost, fixed rate alternative to the premium priced, variable rate DeFi lending now available elsewhere. While this differs from FiRM’s core value proposition targeting long-term borrowers, the competitive price of DBR combined with the need to attract new borrowers to FiRM provides an entry point for borrowers with shorter-term use cases.

As governance voting only is possible with locked CRV (veCRV) tokens, FiRM’s unique vote delegation feature will not be available with this collateral.

#Risk Working Group Assessment

The due diligence conducted by Inverse Finance’s Risk Working Group on CRV has determined that CRV is a suitable collateral for FiRM. The CRV token has demonstrated a strong track record of stability and has the necessary infrastructure in place to support its use as collateral on the platform.

The CRV token has demonstrated a strong track record of generating interest from other protocols (see: Curve Wars) and Curve DAO has the necessary infrastructure in place to support its use as collateral. We can safely assume that the Curve team has a clear understanding of the lending market landscape and has implemented appropriate risk management measures to ensure the safety and security of user funds. Their Bug Bounty program is somewhat lacking compared to peers in the space with similar TVL, with only a maximum payout of $250k and unclear amounts of total available rewards.

The Risk Working Group has evaluated CRV technical and economic characteristics and has determined that it possesses the necessary attributes to be used as collateral on the FiRM platform. The token is liquid and it is paired with other reliable tokens (mainly wETH on mainnet) in deep liquidity pools on several chains (Ethereum, Arbitrum, Fantom, Polygon), thus addressing most SPOFs. CRV also has an elegant oracle solution, making use of a Chainlink oracle for both CRV/USD and CRV/ETH feeds.

Naked CRV is subject to strong dilution from emissions. This hasn’t stopped over $110M in CRV to be deposited as collateral on Aave. Given FiRM’s target audience and “long-term” horizon, a liquid wrapper such as yCRV might make a more appropriate collateral option. However it must be stated that heavy CRV emissions pose a long-term feasibility issue for CRV or any liquid wrapper on FiRM. Emissions have historically been greater than rewards for veCRV holders, which would imply “down only” price action for CRV in the long term. This all can change with the launch of Curve’ own stablecoin, crvUSD. The launch is imminent but the rate of adoption and value-add to veCRV remains to be seen.

Overall, the Risk Working Group is satisfied with the findings of this due diligence report and is confident in the ability of CRV to serve as a reliable collateral on the FiRM platform. The Risk Team recommends we also consider liquid wrappers for alternate collaterals. While liquidity for these are thin, this might soon change and eventually qualify them as suitable options.

CRV is presently an available collateral asset on Aave’s Ethereum v2 market, CF is set at 52%, and TVL is $106M. CRV also recently launched in isolation mode only on Aave's Ethereum v3, with CF set to 55%, a max total supply of $62.5M and a debt ceiling of $20.9M. In both of these markets, CRV is borrowable as well as being used as a collateral asset. A more relatable comparison is the one where CRV can only be used as collateral. The CRV market on Fraxlend has CF 75%, with $21M in active borrows and a utilization rate of 66%. Based on these findings, the Risk Working Group recommends CRV be made available as collateral on FiRM with an initial Collateral Factor (CF) of 75%, a daily borrow limit of $250,000, and an initial market ceiling at $1,000,000.

On-Chain Actions:

    Add CRV Market to DBR contract
    Set Borrow Controller for CRV Market
    Set Feed in Oracle
    Set liquidation factor for market at 75%
    Set Fed market ceiling for market at 1,000,000$
    Set global supply ceiling to 3,000,000$
    Set daily borrow limit for market at 250,000$
    Set collateral factor for market to 75%

Oracle:
0xCd627aA160A6fA45Eb793D19Ef54f5062F20f33f

Add Curve FiRM Market

# Proposal to Upgrade Velo Fed L2 Messenger
# Proposal to Update Velo Fed L2 Messenger

Forum: https://forum.inverse.finance/t/proposal-to-upgrade-velo-fed-l2-messenger/216

## Background

The Velo Fed was [launched on October 18th 2022](https://www.inverse.finance/governance/proposals/mills/68), allowing the DAO to supply liquidity directly to the DOLA-USDC pool on Velodrome (Optimism). This product has allowed for rapid growth of DOLA in the Optimism ecosystem, where DOLA is currently the #5 stablecoin by TVL.

## Summary

As the Velo fed is deployed on a different blockchain (Optimistic Ethereum) to Inverse Finance DAO’s on-chain governance (Ethereum mainnet), a messenger contract is used for sending actions from governance to the Velo Fed. This ensures that INV governance retains control over the parameters of the Fed, as it does with all Fed’s based on Ethereum.

An issue related to access controls was recently identified within the current Velo Fed’s messenger implementation. This prevents the guardian (currently assigned to RWG) from being able to adjust certain maxLoss parameters. This proposal updates the Velo Fed’s messenger to a newly deployed implementation with this issue resolved.

## On-Chain Actions

* Set the pending gov of Velo fed to the new messenger contract
* Claim gov on Velo fed

Proposal to Upgrade Velo Fed L2 Messenger

# Proposal to Increase maxDiscount on Bad Debt Repayer Contract
# Proposal to Increase maxDiscount on Bad Debt Repayer Contract

Forum: https://forum.inverse.finance/t/proposal-to-increase-maxdiscount-on-bad-debt-repayer-contract/217

## Background

On the 9th of September, 2022, [Proposal 57 was executed](https://www.inverse.finance/governance/proposals/mills/57) to launch the Debt Repayer and Converter contracts that provided a novel and fair option for users holding bad debt stemming from the April 2nd price manipulation incident to recover liquid assets.

To date, the Debt Repayer contract has distributed the following to users (for insolvent anTokens):

47.44 wETH

3.33 WBTC

1.15 YFI

In doing this, the user-held bad debt has been reduced by:

94.18 ETH (~$163k)

7.07 WBTC (~$182k)

2.22 YFI (~$21k)

Today, the current maximum discount set on the Debt Repayer is 55%. In order to accelerate the reduction in bad debt, this proposal increases the discount to 80% while preserving the current zero discount reserve threshold at 15%.

## Motivation

The purpose of the Debt Repayer is to allow a more market-based repayment approach while speeding up the time taken for total repayment of user-held bad debt for the DAO. The contract is designed to allow participants willing to accept the largest discount on their anToken to withdraw first. This means that if deployed with the correct parameters, there should only ever be 1 participant willing to accept the current discount.

The first few months of usage showed us that multiple users would compete to accept the discounts (between 50-55%). This suggests that the starting discount of 55% was above what the market would bear. Further evidence of this is debt holders who have reached out in private to DAO contributors, offering to negotiate private OTC swaps of anTokens for even larger discounts (up to 75%). Based on this data, the TWG recommends that the max discount be increased to 80%. It is believed that starting at a discount of 80% will more accurately reflect demand.

For a quick summary of how the contract works ([please see proposal 57 for greater detail](https://www.inverse.finance/governance/proposals/mills/57)):

* The contract tracks current outstanding debt for each token (ETH, WBTC, YFI), as remainingDebt.
* The current balance of WETH/WBTC/YFI stored in the repayment contract is tracked, as reserves.
* A reserve ratio is calculated, by (reserves/remainingDebt) for each asset
* The discount is what the user accepts when swapping their anToken for the underlying asset
* At 0% reserve ratio, the discount = maxDiscount, which after this proposal will be 80%
* At zeroDiscountReserveThreshold (15% reserve ratio currently), the discount is 0%

Hypothetical situation for the ETH market:

* remainingDebt = 1,000 ETH
* If the balance of the contract is 0 ETH
  * Reserve ratio = 0 / 1,000 = 0%
  * Discount = maxDiscount
  * Discount = 80%
* If the ETH balance of the contract is 10 ETH:
  * Reserve ratio = 10 / 1,000 = 1%
  * Discount = [maxDiscount - (maxDiscount / (zeroDiscountReserveThreshold / reserve ratio))]
  * Discount = [80% - (80% / (15% / 1%))] = 74.67%
* If the ETH balance of the contract is 90 ETH
  * Reserve ratio = 90 / 1,000 = 9%
  * Discount = [maxDiscount - (maxDiscount / (zeroDiscountReserveThreshold / reserve ratio))]
  * Discount = [80% - (80% / (15% / 9%))] = 32%

## On Chain Action

* Set newMaxDiscount to 80%

Proposal to Increase maxDiscount on Bad Debt Repayer Contract

#  Proposal to increase daily borrow limit for wETH and stETH markets on FiRM
Forum Link: https://forum.inverse.finance/t/proposal-to-increase-daily-borrow-limit-for-weth-and-steth-markets-on-firm/209/1

**Background**

Inverse Finance’s Risk Working Group (RWG) has recently approved increasing the daily borrow limits of the wETH and stETH markets to $250k. These two markets have been active without a hiccup for long enough a period to be considered for this upgrade.

Since launch, on December 16th, 2022 via [Proposal #74](https://www.inverse.finance/governance/proposals/mills/74), FiRM has been operating flawlessly in “guarded mode” with three markets and a limited amount of DOLA available to borrow. A DOLA lending supply cap is continuously monitored by the RWG and expansions or contractions are always considered in relation to DOLA circulating supply and liquidity. Each market can also count on a daily borrow limit, with wETH and stETH limits currently set at $100k per day, and gOHM at $250k.

**Motivation**

Each new market deployed on FiRM is introduced in a ‘safeguarded’ mode during an initial trial period. This translates to, amongst other things, launching with reduced collateral factors and ‘lower’ daily borrow limits and evaluating the progression of the market over time. Daily borrow limits serve an important role in significantly limiting any potential exploit to the protocol and potential loss of user funds.The Inverse Finance team continuously evaluates FiRM’s and DOLA’s performance and the RWG deems that increased daily borrowing limits are acceptable for the WETH and stETH markets.

The increase in daily borrow limit for wETH and stETH markets on FiRM will provide several benefits to users and the protocol, including:

1. Improved borrowing capacity: The higher daily limit will allow users to borrow more DOLA at once, which will enable them to more readily take advantage of DeFi opportunities and strategies. This will ultimately exclude fewer well funded depositors.
2. Increased protocol usage: The higher daily limit will attract more users to the FiRM protocol, leading to increased usage.
3. Better alignment with market demand: The increase in daily borrow limit will better align the protocol's capabilities to respond to increasing borrowing demand in the DeFi ecosystem.

This increase is an important step towards building out FiRM to be a protocol appealing to a wider audience.

**On Chain**
* Set FiRMstETHMarket Supply Ceiling to 1,000,000 DOLA
* Set FiRMwETHMarket Supply Ceiling to 1,000,000 DOLA
* Set FiRM's Global Supply Ceiling to 4,000,000 DOLA
* Set FiRMstETHMarket Daily Borrow Limit to 250,000 DOLA
* Set FiRMwETHMarket Daily Borrow Limit to 250,000 DOLA

Proposal to increase daily borrow limit for wETH and stETH markets on FiRM

# Proposal to use anDOLA reserve to pay down DOLA bad debt
# Proposal to Utilize DOLA Reserves from Frontier's DOLA Market for Accurate Accounting of DOLA Bad Debt

Forum: https://forum.inverse.finance/t/proposal-to-use-andola-reserve-to-pay-down-dola-bad-debt/221

## Summary

This proposal seeks to use the DOLA reserves available in Frontier's DOLA market to pay down the DOLA borrow balance of 0xeA0c959BBb7476DDD6cD4204bDee82b790AA1562, which is currently classified as DOLA bad debt. This account’s bad debt accrued as a result of the April 2nd price manipulation incident. This action is primarily an accounting move to provide a more accurate representation of the real DOLA bad debt figure.

## Background

The [Inverse Finance DAO Treasury](https://etherscan.io/address/0x926df14a23be491164dcf93f4c468a50ef659d5b) is a crucial component of the Inverse Finance ecosystem, as it serves to support the financial stability and growth of the protocol. The [anDOLA smart contract](https://etherscan.io/address/0x7Fcb7DAC61eE35b3D4a51117A7c58D53f0a8a670) currently holds a substantial amount of DOLA reserves in Frontier's DOLA market. You can find a summary of these reserves on our transparency dashboard: https://www.inverse.finance/transparency/treasury. The vast majority (~96%)of the DOLA reserves have accumulated from interest against the current DOLA bad debt positions, rather than from healthy loans.

## Motivation

To provide a more accurate representation of the real DOLA bad debt figure, I propose the following steps:

1. Pull the 105k DOLA from reserves from Frontier's DOLA market (anDOLA smart contract) to the DAO Treasury.
2. Use the 105k DOLA reserves to pay down part of the DOLA borrow balance of 0xeA0c959BBb7476DDD6cD4204bDee82b790AA1562, reducing the DOLA bad debt figure

## Benefits

Implementing this proposal will offer several benefits:

* Adjusting the DOLA bad debt figure through this accounting move will provide a more accurate representation of the financial health of the Inverse Finance ecosystem, particularly the DOLA stablecoin.
* By making the real DOLA bad debt figure more transparent, it helps restore trust and confidence among our users and the wider DeFi community.

This proposal presents a clear plan to accurately represent the real DOLA bad debt figure through an accounting move. By taking these steps, we will not only improve the transparency of our ecosystem but also demonstrate our commitment to maintaining a robust and well-managed platform. I urge the community to support this proposal and welcome any feedback or suggestions to improve upon it.

## On-Chain Actions

* reduceReserve’s of the anDOLA Frontier market, by 105,000
* Give 105,000 DOLA allowance to the anDOLA smart contract
* repayBorrowBehalf 105,000 DOLA of the account: 0xeA0c959BBb7476DDD6cD4204bDee82b790AA1562

Title
Reduce Stabilizer DOLA Sell fee to 0%	9 May, 2022, 10:30	12 May, 2022, 05:09	Expired	12,441
Proposal to Adjust DBR Replenishment Rate...	21 Apr, 2023, 02:54	23 Apr, 2023, 13:10	Executed	66,744	11739.09
Q2 2022 Growth Working Group Budget Reque...	26 Apr, 2022, 17:57	29 Apr, 2022, 11:19	Executed	22,310	4759.23
Authorize DOLA Compensation for Inverse F...	21 Mar, 2022, 20:31	24 Mar, 2022, 13:03	Executed	12,662	718.17
Increase Governance Quorum and Submit Pro...	27 Sep, 2022, 23:18	30 Sep, 2022, 09:15	Executed	17,892	125.77
Q4 2022 INV Token Mint and Allowance Refr...	27 Sep, 2022, 21:13	30 Sep, 2022, 07:11	Executed	16,727	125.73
Proposal to Authorize Compensation for In...	15 Aug, 2022, 12:13	18 Aug, 2022, 05:29	Executed	18,713	20.70
Q3 2022 INV Token Mint and Allowance Refr...	23 Jun, 2022, 13:42	26 Jun, 2022, 19:25	Executed	18,116	11.71
Authorize DOLA Compensation for Full-Time...	29 Dec, 2021, 10:16	1 Jan, 2022, 02:42	Executed	11,229
REVISED PROPOSAL: Create a Growth Working...	18 Jan, 2022, 22:10	21 Jan, 2022, 14:25	Executed	15,061
Launch Inverse Plus	30 Jan, 2022, 02:14	1 Feb, 2022, 18:12	Executed	11,540
Switch Anchor stETH price feed to Chainli...	19 Mar, 2022, 11:41	22 Mar, 2022, 04:19	Executed	10,845
Inverse Finance Bug Bounty Program	29 Mar, 2022, 16:48	1 Apr, 2022, 09:31	Executed	12,557
Proposal to Whitelist DOLA Fed for Rari F...	30 Mar, 2022, 22:22	2 Apr, 2022, 15:13	Executed	10,286
Stop bad debt from accumulating further	5 Apr, 2022, 02:42	7 Apr, 2022, 19:20	Executed	10,366
Proposal to Launch a Yearn Fed	17 Apr, 2022, 12:59	20 Apr, 2022, 06:17	Executed	12,347
Transfer Naoufel allowances to Analytics ...	28 Apr, 2022, 18:48	1 May, 2022, 11:52	Executed	11,194
Authorize DOLA Payroll for Solidity Engin...	29 Apr, 2022, 23:04	2 May, 2022, 16:09	Executed	13,070
Proposed Make-Good For Users Affected by ...	8 May, 2022, 21:59	11 May, 2022, 16:31	Executed	15,061
Create a Fed Chair multi-sig to actively ...	10 May, 2022, 23:54	13 May, 2022, 17:54	Executed	11,804
Proposal for Additional Funding for Secur...	11 May, 2022, 00:20	13 May, 2022, 18:18	Executed	11,805

Inverse Governor Mills

Proposals