Anchor & DOLA Launch Plan

The steps to greatness

Launch plan

Anchor launched on the 25th February 2021

The primary goals of the launch plan are:

  1. Carefully transition DOLA into a decentralized and reliable stablecoin โœ…โ€‹

  2. Ensure sufficient DOLA liquidity for liquidations before Anchor is open for borrowing โœ…โ€‹

  3. Reduce Anchorโ€™s risk of insolvency due to ETH price fluctuations during launch

โ€‹

Phase 0 - complete โœ…โ€‹

Borrowing on Anchor is disabled. DOLA is temporarily pegged to Dai and can be purchased or sold 1:1 (for a 0.1โ€“0.2% fee) in exchange for Dai using the Stabilizer contract (similar to Makerโ€™s PSM).

The goal of this phase is to start building up liquidity of the DOLA-ETH Uniswap pool which is required for efficient liquidations when Anchor borrowing is enabled later.

Phase 1 - in progress

Inverse DAO votes for INV rewards for

  • DOLA-ETH Uniswap LPs โœ…โ€‹

  • DOLA-3CRV Curve Metapool LPs (may be replaced by a dutch auction)

This will slowly boost DOLA demand and liquidity.

Curve Metapool liquidity will further strengthen Dola dollar peg in preparation for removing the 1:1 DOLA:DAI peg as well as increasing the likelihood of being added to the main Curve.Fi and being eligible for CRV Gauge rewards - all increasing DOLA liquidity

Phase 2 - in progress

In addition to the existing supply minted via the Stabilizer, borrowing Dola on Anchor is enabled with a relatively small debt ceiling. Only ETH can be used as collateral initially. Collateralization ratio will be set to 200% for launch safety but quickly lowered in later phases. โœ…โ€‹

INV rewards for Anchor lenders and borrowers are activated.

DOLA holders can deposit to Anchor to generate yield. โœ…โ€‹

The Stabilizer still allows buying and selling DOLA for Dai. However, DOLA becomes an independent stablecoin, pegged to the dollar instead of Dai.

โ€‹

Phase 3

ETH collateral ratio is decreased to 130%.

More assets are added to Anchor.

Borrowing ETH using DOLA as collateral is enabled. โœ…โ€‹

DOLA borrowers using ETH as collateral earn yield on their collateral. โœ…โ€‹

โ€‹

โ€‹

โ€‹

โ€‹

โ€‹

โ€‹

โ€‹