Inverse Finance

Update 10/02/21

(no update the week before)
Are we lost at sea? No land in sight? 🌊
If there’s one thing that got lost then it’s last week’s update which got lost somewhere along the way. Real-life dealt me a few punches and I apologize for that.🙏🏻
Other than that it feels like Inverse is stronger than ever!💪🏻
🔹 TVL is currently at 3,7m! Growing steadily and it shows people are starting to take note of our vaults :) 🔸 Another proposal happened and successfully passed. After many discussions and votes on a percentage, our delegate Somer proposed to introduce a performance fee set at 10%. Right now, Inverse will receive 10% from the yield it generates you. That’s it. These funds will be used to fill the treasury and pay for harvesting costs and other small costs. It ain’t much for now but it’s honest work ;P 👉🏻 The vote passed with 17400 votes against…0! Yes, that’s a first. Happy to see that. Here’s a tweet with Inverse’s first payout to the treasury:​
🔹 The sheer strength of the INVaders👾 finally managed to bring the Pollbot down to its knees and we had to switch over to Snapshot. 👉🏻 With Snapshot as our new tool to gauge community sentiment and its ability to see who and how many tokenholders actually voted new possibilities presented themselves 🔸 Seize them all! Seizing is probably one of the community’s favorite topics. Naturally, we had to bring it up again because hey, we don’t like inactive tokenholders.
🪓 Interestingly enough the biggest opposition came from folks on Telegram where we played a few rounds of Pigeon Chess THEFT! UNFAIR! PEOPLE HAVE LIVES.
🗳 A sentiment poll on Snapshot on whether to seize or not to seize followed shortly after.
I’ll divert here and add a short personal note here to thank everyone for their engagement. Thank you very much!!😻
The snapshot vote had 221 out of 438 possible voters! That’s over 50% of tokenholders who made the effort to vote. Something only INVaders can manage to achieve!👾👾 I dare you to find a more engaged community!
❗️Now, seizing isn’t final yet, it still needs this on-chain vote to actually seize.
But who will have his tokens seized?
‼️ INACTIVE tokenholders.‼️
You are considered INACTIVE if you didn’t do any of the following things AT LEAST ONCE👇🏻
👉🏻 Delegated your votes (FREE) 👉🏻 OR voted yourself (onchain) 👉🏻 OR Deposited DAI into the vault (with the address holding INV) 👉🏻 OR voted on Snapshot (FREE)
If this is you then we strongly advise you to do at least any of these things until February 19th
The easiest way is to vote here on the Roll Call:👇🏻​
(Side note: Everyone should vote here to show Crypto just how strong we are)
🔸 Still, on that seizing topic you like so much Initially, a smart contract was planned to handle the upcoming seizing because of some technical limitations. It sounded like the perfect opportunity to try this fancy reward-committee we voted on some time ago.
300 INV for a small job? Sounds fair right? Delegate AdamQ (among others) wouldn’t have any of it.
After a fierce battle of ideologies, AdamQ offered to cover the costs of the upcoming seizing proposals in exchange for 100 INV. 🤝
Consequently, by doing so he set a starting price tag of about 20 dollars per INV. 👀
We’ll see what happens once the snapshot vote is done.
🔹 Now on to something else. Remember that sea and land reference?
Well, we are still sailing on the open sea but the fog is lifting and whispers of land in sight have started to spread.🌊
We are of course talking about our upcoming product ANCHOR! It is near completion.⚓️ ✅ Contracts are done. ✅ UI is done. ❌ Only some loose ends remain.
Soon my INVaders, very soon!👾
🔸 So what else happened?