0x325b35ab05ab5a81b120428997cdd620c2e46134154e056a0f1b8fe88ab0437a

Transaction

Succeeded
(
19120169
)
Ethereum
propose
Txn fee 0.025151986 ETH
INV
+$56.33
ETH
+$0.14
INV
-$56.33
ETH
-$61.10
  • 0
    CALL
    501358 gas [RECV] Inverse Governor Mills.propose (targets=[1 element], values=[1 element], signatures=[1 element], calldatas=[1 element], description=# 2024 Q1 TWG INV Allowance Refresh # 2024 Q1 TWG INV Allowance Refresh *Author: @edo and @cryptoharry* Forum link: https://forum.inverse.finance/t/2024-q1-twg-inv-allowance-refresh/368 ### Summary The Treasury Working Group (TWG) at Inverse Finance seeks to refresh its INV allowance for Q1 2024 to continue effective management of liquidity incentivization and to facilitate strategic operations, including OTC swaps, with all proceeds aimed at reducing DOLA bad debt and enhancing the overall financial health of the DAO. ### Background The TWG has been instrumental in maintaining robust liquidity for DOLA, INV, and DBR, crucial for the stability and growth of Inverse Finance. Our strategies have successfully managed liquidity across multiple chains and protocols, contributing to the continued adoption and success of FiRM, our fixed-rate lending protocol. Liquidity incentivization has been challenging in recent times due to growing competition (particularly with yield-bearing stablecoins prompting the creation of [sDOLA](https://forum.inverse.finance/t/launch-dsa-and-sdola/361)) and an evolving interest-rate and market environment requiring CDPs and other protocols alike to offer higher yields for their stablecoin products. Challenges such as DOLA bad debt continue to necessitate careful and strategic liquidity management. Since [Proposal #156](https://www.inverse.finance/governance/proposals/mills/156), the latest INV allowance refresh proposal, [DOLA Bad Debt](https://www.inverse.finance/transparency/bad-debts) has been reduced by 200,000 DOLA and currently stands at 7.6MM DOLA. As a reminder, the existence of DOLA bad debt increases the challenge of liquidity operations for the DAO, increasing the DAO’s cost per DOLA in circulation and simultaneously reducing the revenue generated per DOLA. This is why reducing DOLA bad debt remains a top priority for the TWG. ### Liquidity Management As of Q1 2024, DOLA continues to exhibit a [close (soft) peg and deep liquidity](https://www.inverse.finance/transparency/liquidity), thanks to our active liquidity management strategies. However, to sustain and enhance this, ongoing incentivization to liquidity providers is required. The INV token plays a pivotal role in these operations, not only for DOLA but also for other strategic assets within our ecosystem including DBR. ### OTC Swaps and Bad Debt Reduction In addition to managing liquidity incentivization, the TWG plans to engage in OTC swaps to further support the reduction of DOLA bad debt. OTC swaps are one of the tools currently available to the DAO targeting bad debt reduction, along with revenue surplus and the recently deployed [virtual xy=k DBR auction](https://forum.inverse.finance/t/launch-virtual-xy-k-dbr-auction/359). They offer an efficient and strategic mechanism to secure the long-term stability and growth of DOLA. All OTC Swaps are disclosed publicly in our [Discord’s](https://discord.com/invite/pKy7NErufh) announcement channel. High-value OTC swaps requiring additional allowances will require a separate proposal, as done for [Proposal #134](https://www.inverse.finance/governance/proposals/mills/134). Proceeds generated from these OTC swaps will be directed towards paying down the outstanding DOLA bad debt, reinforcing the health of both DOLA and the DAO. Eliminating bad debt allows for a more aggressive approach to the expansion of borrowing on FiRM. ### Proposal for INV Allowance Refresh Given the ongoing needs and the strategies outlined above, the TWG proposes the following for Q1 2024: 1. Refresh the INV allowance for the TWG to ensure uninterrupted liquidity management and incentivization. 2. Set the INV allowance for the TWG at 30,000, a figure determined based on our projected requirements for the quarter. 3. This allowance will enable the TWG to effectively manage liquidity pools, engage in OTC swaps, and continue our efforts in reducing DOLA bad debt. ### Conclusion The proposed INV allowance is crucial for the TWG to continue its work in maintaining the financial health and stability of Inverse Finance. This allowance will empower us to manage liquidity effectively, engage in beneficial OTC swaps, and continue our focused efforts on reducing DOLA bad debt, ultimately contributing to the growth and success of Inverse Finance. ### On Chain Actions * Set TWG INV allowance to 30,000.) (166)
    • 1
      SLOAD
      proposalThreshold 1900000000000000000000
    • 2
      SLOAD
      xinv xINV
    • 3
      CALL
      60912 gas xINV.exchangeRateCurrent () (6597967011518161072)
    • 62
      SLOAD
      inv Inverse DAO
    • 63
      STATICCALL
      3245 gas Inverse DAO.getPriorVotes (account=[SEND] 0xec092c15e8d5a48a77cde36827f8e228ce39471a, blockNumber=19120168) (0)
    • 66
      SLOAD
      xinv xINV
    • 67
      STATICCALL
      2690 gas xINV.getPriorVotes (account=[SEND] 0xec092c15e8d5a48a77cde36827f8e228ce39471a, blockNumber=19120168) (0)
    • 70
      SHA3
      0x000000000000000000000000ec092c15e8d5a48a77cde36827f8e228ce39471a0000000000000000000000000000000000000000000000000000000000000009
       
      0xeb1771d06d99cad8c2ad9933e0fa7b0d5fd2d77a0a1f38f84cdf8272f08e361e
    • 71
      SLOAD
      proposerWhitelist[0xec092c15e8d5a48a77cde36827f8e228ce39471a] true
    • 72
      SHA3
      0x000000000000000000000000ec092c15e8d5a48a77cde36827f8e228ce39471a0000000000000000000000000000000000000000000000000000000000000008
       
      0x84bb7293bc14b8d66282c4a3afc1e7a90dea97f29e03605c7c7a49eb886c0cc9
    • 73
      SLOAD
      latestProposalIds[0xec092c15e8d5a48a77cde36827f8e228ce39471a] 164
    • 74
      SLOAD
      proposalCount 165
    • 75
      SHA3
      0x00000000000000000000000000000000000000000000000000000000000000a40000000000000000000000000000000000000000000000000000000000000007
       
      0x56f7aa2ac7ded063b7aede9a6e40fb6d1a449dafb66fc34e2d354051b23db071
    • 76
      SLOAD
      (proposals[164].canceled, proposals[164].executed) (false, true)
    • 77
      SLOAD
      proposals[164].startBlock 18981012
    • 78
      SLOAD
      proposals[164].endBlock 18998292
    • 79
      SLOAD
      proposals[164].againstVotes 0
    • 80
      SLOAD
      proposals[164].forVotes 117451436004545458064890
    • 81
      SLOAD
      quorumVotes 15500000000000000000000
    • 82
      SLOAD
      proposals[164].forVotes 117451436004545458064890
    • 83
      SLOAD
      proposals[164].eta 1705343291
    • 84
      SLOAD
      (proposals[164].canceled, proposals[164].executed) (false, true)
    • 85
      SLOAD
      proposalCount 165
    • 86
      SSTORE
      proposalCount 165 to 166
    • 87
      SLOAD
      proposalCount 166
    • 88
      SHA3
      0x00000000000000000000000000000000000000000000000000000000000000a60000000000000000000000000000000000000000000000000000000000000007
       
      0x7d300ad6e8d5f978d128abe053c3bc735816fed088025db9d70e0562ff8986d5
    • 89
      SSTORE
      proposals[166].id 0 to 166
    • 90
      SLOAD
      proposals[166].proposer 0x0000000000000000000000000000000000000000
    • 91
      SSTORE
      proposals[166].proposer 0x0000000000000000000000000000000000000000 to 0xec092c15e8d5a48a77cde36827f8e228ce39471a
    • 92
      SSTORE
      proposals[166].eta 0
    • 93
      SLOAD
      proposals[166].targets[length] 0
    • 94
      SSTORE
      proposals[166].targets[length] 0 to 1
    • 95
      SHA3
      0x7d300ad6e8d5f978d128abe053c3bc735816fed088025db9d70e0562ff8986d8
       
      0x6177d9138935670da287971617681afa3a51b925ff86ffc53ac05002fb2933d1
    • 96
      SLOAD
      proposals[166].targets[0] 0x0000000000000000000000000000000000000000
    • 97
      SSTORE
      proposals[166].targets[0] 0x0000000000000000000000000000000000000000 to Inverse DAO
    • 98
      SLOAD
      proposals[166].values[length] 0
    • 99
      SSTORE
      proposals[166].values[length] 0 to 1
    • 100
      SHA3
      0x7d300ad6e8d5f978d128abe053c3bc735816fed088025db9d70e0562ff8986d9
       
      0x3f8922977078ba56fab6011fed9c06c8eef5c47ddfca8c398aec9e289ded3393
    • 101
      SSTORE
      proposals[166].values[0] 0
    • 102
      SLOAD
      proposals[166].signatures[length] 0
    • 103
      SSTORE
      proposals[166].signatures[length] 0 to 1
    • 104
      SHA3
      0x7d300ad6e8d5f978d128abe053c3bc735816fed088025db9d70e0562ff8986da
       
      0x3e93584cb6ee4facda4f20daada6192de95c41b79f26b4d6330f4932a1f4fd45
    • 105
      SLOAD
      (proposals[166].signatures[0][data], proposals[166].signatures[0][length]) ("", 0)
    • 106
      SHA3
      0x3e93584cb6ee4facda4f20daada6192de95c41b79f26b4d6330f4932a1f4fd45
       
      0x1e24df7dbf74f8fb70be6e89c6319d92dc68b1932372baf70c8b40f353d573e7
    • 107
      SSTORE
      (proposals[166].signatures[0][data], proposals[166].signatures[0][length]) ("" to "approve(address,uint256)", 0 to 24)
    • 108
      SLOAD
      proposals[166].calldatas[length] 0
    • 109
      SSTORE
      proposals[166].calldatas[length] 0 to 1
    • 110
      SHA3
      0x7d300ad6e8d5f978d128abe053c3bc735816fed088025db9d70e0562ff8986db
       
      0xc58d94cac8bb5d9493e5c57801dd11388fb0f290c892359475da99f7c9d22d28
    • 111
      SLOAD
      (proposals[166].calldatas[0][data], proposals[166].calldatas[0][length]) (0x, 0)
    • 112
      SHA3
      0xc58d94cac8bb5d9493e5c57801dd11388fb0f290c892359475da99f7c9d22d28
       
      0x060ec0d7463698085b2a176c54eb9d88c409c65390ed845b7de818412c5a093f
    • 113
      SSTORE
      proposals[166].calldatas[0][length] 0 to 64
    • 114
      SSTORE
      proposals[166].calldatas[0][0] 0x0000000000000000000000000000000000000000000000000000000000000000 to 0x0000000000000000000000009d5df30f475cea915b1ed4c0cca59255c897b61b
    • 115
      SSTORE
      proposals[166].calldatas[0][1] 0x0000000000000000000000000000000000000000000000000000000000000000 to 0x00000000000000000000000000000000000000000000065a4da25d3016c00000
    • 116
      SSTORE
      proposals[166].startBlock 0 to 19120170
    • 117
      SSTORE
      proposals[166].endBlock 0 to 19137450
    • 118
      SSTORE
      proposals[166].forVotes 0
    • 119
      SSTORE
      proposals[166].againstVotes 0
    • 120
      SLOAD
      (proposals[166].canceled, proposals[166].executed) (false, false)
    • 121
      SSTORE
      (proposals[166].canceled, proposals[166].executed) (false, false)
    • 122
      SLOAD
      (proposals[166].canceled, proposals[166].executed) (false, false)
    • 123
      SSTORE
      (proposals[166].canceled, proposals[166].executed) (false, false)
    • 124
      SLOAD
      xinv xINV
    • 125
      CALL
      6413 gas xINV.exchangeRateCurrent () (6597967011518161072)
    • 137
      SHA3
      0x00000000000000000000000000000000000000000000000000000000000000a6000000000000000000000000000000000000000000000000000000000000000a
       
      0x65c077ff78ae12676988821f8f463058b318565af08fd7bb474251ca83e7bc50
    • 138
      SSTORE
      xinvExchangeRates[166] 0 to 6597967011518161072
    • 139
      SHA3
      0x000000000000000000000000ec092c15e8d5a48a77cde36827f8e228ce39471a0000000000000000000000000000000000000000000000000000000000000008
       
      0x84bb7293bc14b8d66282c4a3afc1e7a90dea97f29e03605c7c7a49eb886c0cc9
    • 140
      SSTORE
      latestProposalIds[0xec092c15e8d5a48a77cde36827f8e228ce39471a] 164 to 166
    • 141
      LOG
      ProposalCreated (id=166, proposer= 0xec092c15e8d5a48a77cde36827f8e228ce39471a, targets=[1 element], values=[1 element], signatures=[1 element], calldatas=[1 element], startBlock=19120170, endBlock=19137450, description=# 2024 Q1 TWG INV Allowance Refresh # 2024 Q1 TWG INV Allowance Refresh *Author: @edo and @cryptoharry* Forum link: https://forum.inverse.finance/t/2024-q1-twg-inv-allowance-refresh/368 ### Summary The Treasury Working Group (TWG) at Inverse Finance seeks to refresh its INV allowance for Q1 2024 to continue effective management of liquidity incentivization and to facilitate strategic operations, including OTC swaps, with all proceeds aimed at reducing DOLA bad debt and enhancing the overall financial health of the DAO. ### Background The TWG has been instrumental in maintaining robust liquidity for DOLA, INV, and DBR, crucial for the stability and growth of Inverse Finance. Our strategies have successfully managed liquidity across multiple chains and protocols, contributing to the continued adoption and success of FiRM, our fixed-rate lending protocol. Liquidity incentivization has been challenging in recent times due to growing competition (particularly with yield-bearing stablecoins prompting the creation of [sDOLA](https://forum.inverse.finance/t/launch-dsa-and-sdola/361)) and an evolving interest-rate and market environment requiring CDPs and other protocols alike to offer higher yields for their stablecoin products. Challenges such as DOLA bad debt continue to necessitate careful and strategic liquidity management. Since [Proposal #156](https://www.inverse.finance/governance/proposals/mills/156), the latest INV allowance refresh proposal, [DOLA Bad Debt](https://www.inverse.finance/transparency/bad-debts) has been reduced by 200,000 DOLA and currently stands at 7.6MM DOLA. As a reminder, the existence of DOLA bad debt increases the challenge of liquidity operations for the DAO, increasing the DAO’s cost per DOLA in circulation and simultaneously reducing the revenue generated per DOLA. This is why reducing DOLA bad debt remains a top priority for the TWG. ### Liquidity Management As of Q1 2024, DOLA continues to exhibit a [close (soft) peg and deep liquidity](https://www.inverse.finance/transparency/liquidity), thanks to our active liquidity management strategies. However, to sustain and enhance this, ongoing incentivization to liquidity providers is required. The INV token plays a pivotal role in these operations, not only for DOLA but also for other strategic assets within our ecosystem including DBR. ### OTC Swaps and Bad Debt Reduction In addition to managing liquidity incentivization, the TWG plans to engage in OTC swaps to further support the reduction of DOLA bad debt. OTC swaps are one of the tools currently available to the DAO targeting bad debt reduction, along with revenue surplus and the recently deployed [virtual xy=k DBR auction](https://forum.inverse.finance/t/launch-virtual-xy-k-dbr-auction/359). They offer an efficient and strategic mechanism to secure the long-term stability and growth of DOLA. All OTC Swaps are disclosed publicly in our [Discord’s](https://discord.com/invite/pKy7NErufh) announcement channel. High-value OTC swaps requiring additional allowances will require a separate proposal, as done for [Proposal #134](https://www.inverse.finance/governance/proposals/mills/134). Proceeds generated from these OTC swaps will be directed towards paying down the outstanding DOLA bad debt, reinforcing the health of both DOLA and the DAO. Eliminating bad debt allows for a more aggressive approach to the expansion of borrowing on FiRM. ### Proposal for INV Allowance Refresh Given the ongoing needs and the strategies outlined above, the TWG proposes the following for Q1 2024: 1. Refresh the INV allowance for the TWG to ensure uninterrupted liquidity management and incentivization. 2. Set the INV allowance for the TWG at 30,000, a figure determined based on our projected requirements for the quarter. 3. This allowance will enable the TWG to effectively manage liquidity pools, engage in OTC swaps, and continue our efforts in reducing DOLA bad debt. ### Conclusion The proposed INV allowance is crucial for the TWG to continue its work in maintaining the financial health and stability of Inverse Finance. This allowance will empower us to manage liquidity effectively, engage in beneficial OTC swaps, and continue our focused efforts on reducing DOLA bad debt, ultimately contributing to the growth and success of Inverse Finance. ### On Chain Actions * Set TWG INV allowance to 30,000.)