This proposal aims to introduce a helper contract meant to assist FiRM users in buying DBR as a part of the borrowing transaction, and thus foregoing the need to procure DBR via any external website.
Summary:
FIRM, the new fixed rate lending market from Inverse Finance, makes use of a new DeFi primitive, DBR, to forego traditional interest rates.There is no interest rate for borrowing DOLA in FiRM. FiRM uses the DBR token to let you lock in a fixed rate.
A FiRM user simply holds DBR in their wallet to service the loan and the DBR balance will decay over time - in proportion to the size of their loan.
DBR must be present in a user’s wallet prior to borrowing DOLA on FiRM. Previously, this required one to purchase DBR on Balancer and/or Uniswap before attempting to open a position, but, assuming this proposal passes, the introduction of the helper contract will allow for the cost of a DBR purchase when taking out a loan to be added to your DOLA debt. The FiRM helper contract is designed to assist users in buying DBR as a part of the borrowing transaction, and will require a one-time transaction approval.
On-Chain Actions:
- Borrow Control: Whitelist deployed address as the helper function