Proposal to Conclude Season 1 and Initiate Season 2 at Inverse Finance DAO
Summary
This proposal seeks to finalize Season 1’s achievements and launch Season 2 at Inverse Finance DAO. It is focused on refreshing budgets and setting strategic directions for continued growth and stability.
Season 1 Review
Season 1, spanning from October 2023 to April 2024, marked significant milestones for the DAO:
- Repayment of DOLA Bad Debt: Achieved the North Star Objective by repaying 1,782,130 DOLA, aligning with our strategic goals set out in the S1 Strategy Proposal.
- Growth in DOLA Circulation and Usage: DOLA’s circulation increased from 38.3 million to 81.0 million, a 111% increase. The 30-day moving average volume surged from $666k/day to $5.05 million/day, up by 658%.
- Enhanced FiRM Usage: Despite stable total debt levels, the average monthly DBR burn rate increased significantly to $197k from $68.6k prior to Season 1, driven by an increased DBR price.
- Product Development and Security: We successfully launched ALE, sDOLA, and the DBR Auction with no major security issues. Since February 2024, the DBR Auction has notably contributed almost $500k in repayments towards DOLA bad debt.
Season 2 Outlook
As we transition to Season 2, all working groups have submitted their proposals and budgets for review and approval:
- Risk Working Group - S2
- Growth Working Group - S2
- Product Working Group - S2
- Analytics Working Group - S2
- Treasury Working Group - S2
The aim for Season 2 is to leverage our past achievements to enhance DOLA’s market stability, expand our product offerings, and uphold our security standards.
As with Season 1, all active contributors on payroll will be removed as part of this proposal.
On-Chain Actions
- Remove all wallets from the payroll contract
- Set DOLA allowance to the payroll contract of 800k