Update 20/01/21
Friends and foes, stay on your toes. We are watching you. 👀
🔹We’ll begin with the usual TL;DR:
- TVL is up from 1,78m to 2.34m. All organic growth
- Release of Yearn V2 vaults. Migration takes another 24h
- New USDC-ETH vault with 55-60% APY
- Reward committee and its members + 2k INV allowance has been voted on by you
- Rumors about anchors, hedgehogs, and dog owner look-alikes (DOLA)
🔺This week seems quieter than the last, but progress doesn’t need to make a “bang” to make an impact.
🔸With the release of the new V2 vaults, Inverse has started its great migration which will be done in another 24 hours.
Once the migration is done all vaults will have the same APY.
🔹A new USDC-ETH vault was added with an initial cap of 300k, but Inverse ended up increasing that cap to 1m after a few hours to cover for the huge demand. Did we mention the current APY is 55-60%? (https://twitter.com/andrecronjetech/status/1349499381632757765?s=21)
🔸AdamQ managed to collect 1k votes and became a proposal delegate. Congrats to him!
🔹The community has been pretty active as well during this week’s proposal which allowed for the creation of the reward committee and an allowance of 2k INV to reward (pro)active contributions.
👉🏻The on-chain vote passed with a majority of 18,420 votes against 80 :) Great participation there. Really happy to see so many active members!
👏🏻Now welcome your new reward- committee members: Nour, MrBrownwhale, Knockerton, Somer, and BenLavabo.
They will be watching and deciding on who to reward for their good deeds. Please be patient, we want to get this right! We’ll very likely present you with something before the end of the week 😁
You can check the multisig address here 👇🏻
0x77C64eEF5F4781Dd6e9405a8a77D80567CFD37E0
🔸After the execution of the proposal, the 2k INV will be viewable at that address. Next, the community successfully rallied to get listed on Debank, Zerion, and Zapper. Big thanks to Melen Climax and Overanalyzer for this.
🔹Now let’s talk about rumors: There’s this rumor about a new Inverse product called the “Anchor protocol”. Anchor is a compound fork and is supposed to be a “synthetic asset protocol”, while at the same time it isn’t exactly one.
If that doesn’t make any sense, don’t worry, we’ll have to wait until Nour fully explains it to us. What matters is that the underlying stablecoin is debt-based using volatile assets. The community and Nour came up with the name during one of the late-night Discord sessions.
🔸There were a few other late-night Discord session talks about the future of Inverse and how we could best do something innovative. The talks felt very insurance-focused, but it wasn’t about your typical insurance product. There will be a follow-up once there is news to report.
🔹Misc:
👉🏻 The logo has finally been added to our social media channels :)
👉🏻Hotnewcrypto.com updated our logo faster than we could tweet about it.
👉🏻The DAO acknowledges the founder’s exceptionally strong meme-game on Twitter
👉🏻The unofficial but somewhat official name for the Inverse community is INVaders (thanks to Kiwi for the name suggestions)
👉🏻Inverse is still looking for solidity and front-end devs. If you want to be part of something great, DM Nour or leave a message in the #dev channel on Discord. Don’t miss out! 👉🏻People are now complaining about the actual use of specific channels on Discord. The saga continues...
That’s it for this week. We hope you enjoyed it, but feel free to leave any suggestions about what you want to read.😸
See you next week :)
Last modified 1yr ago