The Inverse Starship — Inverse DAO Newsletter - Saturday 27 November 2021
Saturday 27 November 2021
Summary
Creating a Protocol Ambassador Program
Discussion about adding new collateral to Anchor
Restructuring the Inverse DAO
Mysterious Alpha from Concave?
Numbers at a glance
DAO member profile — @MrBrownWhale
Opportunities to Contribute
Welcome to the Starship!
It’s been another eventful week for Invaders. On this issue of Inverse Starship, we would like to highlight various discussions about restructuring the DAO, new proposals that are being discussed right now, and some mysterious alpha from a new project with a lot of hype behind it. Let us sit back, relax, and recap what has been going on in this week’s Inverse Starship.
Creating a Protocol Ambassador Program
Ever since Pat joined Inverse Finance, he has shared many ideas of how he would like to expand on Inverse Finance’s business development opportunities. One idea that he came up with was to create a protocol ambassador program. With the protocol ambassador program, “one member of the Inverse Finance community will be assigned to each of a predefined list of prospective Inverse Finance partners.” With this, we can get skilled community members to help expand DOLA to other protocols and fuel mutually beneficial relationships like what we have with Scream. You can read the full proposal draft here.
Discussion about adding new collateral to Anchor
Recently, the Inverse DAO has been having discussions on what tokens we should allow to be added as collateral to Inverse Finance. The discussion was specifically about whether we should add SHIB and FLOKI to Anchor as a strategy to become one of the first lending protocols to accept meme coins as collateral. While an overall consensus has not been reached yet, the discussion has been quite enlightening, and various perspectives were considered. You can read through this conversation under proposal discussion on the Discord.
Restructuring the Inverse DAO
One issue that the Inverse DAO has faced for a while is communication and transparency. There have been many skilled people that have helped out in the DAO, but as with some other DAOs, we lack structure, direction, and a consistent way to reward contributing members. To work on this, Xeno has brought up starting a budget for contributions, restructuring certain parts of the DAO, and building a system that works.
One example of this is rethinking how the delegate system should work. With voting restored, we must ensure that the delegation system is active and more involved with the DAO. Xeno created a proposal discussion to talk about giving incentives to delegators, having periodic delegate elections, and having a system in place to remove inactive delegators. You can read more about this proposal here.
We are experimenting with tools such as Coordinape and look to build a DAO that fully utilizes every active member’s strengths while making sure that they are rewarded in the process. We hope you look forward to it!
Mysterious Alpha from Concave?
Recently, a cool new project called Concave Finance tweeted this.
Take from that what you will.
Numbers at a glance
With @naoufel’s amazing work on the data-hub, the Starship is here to show you the latest analytics on Inverse Finance.
INV:
Current price of INV $561
7 day high/low $690/$457
Total xINV + INV holders 2081
INV/WETH Sushiswap liquidity ~$723,715 USDC
Defi Pulse ranking #61 @ $46.9M TVL
You can check out what @naoufel is working on to improve the Dune dashboard as he goes — at the work-in-progress Dune dashboard here.
DAO member profile of the week— @MrBrownWhale
We met @MrBrownWhale recently on the Inverse Discord for a moment to catch up on what’s been happening at Inverse Finance. MrBrownWhale is currently part of the rewards committee and has been instrumental in getting Inverse Finance to where it is today. We wanted to do a member profile to show you what they have been up to.
What is your background? How did you get into crypto?
Business and tech, I have had several start-ups and I currently advise start-up founders through their scale-up phase. As someone who always had an interest in technological innovation, discovering new concepts excite me. Over the years I have had the opportunity to grow my ability to spot solid and unique value propositions.
I had to learn it the hard way though, like everyone. For instance, I started mining in 2013 and learned that the quantity of what you mine sure as hell does not equal quality.. haha.
But when I saw the concept of the DAO, the first one on Ethereum.. I was immediately sold. I invested into it and while it didn't play out the way we all wanted (with the hack and ETC-fork), I still remember a lot of fun concepts being thrown around. I wonder what ever happened to slock.it, for those who remember.
When and how did you join the DAO?
I joined the DAO with the original 409.
Don't remember exactly where, but when I saw Inverse was trying to have another go at becoming an actual DAO, that excited and energized me.
I know there is still a lot of fine-tuning of DAO mechanics needed to make it an efficient vehicle for governance, but I believe that we'll get there eventually.
Could you talk a bit about what you do for the Inverse DAO?
Of course, I am currently a member of the Rewards Committee. After being voted in by the original 409 on Discord with the most amount of votes (yes, proud moment haha) we set out on our course to reward people that contribute to the DAO.
Other than that, I was one of the more active members during the initial stages of Inverse. Had a lot of good discussions with people like Nour, Ben Lavabo but also with someone like DefiMAO. It was an amazing period and there were quite a few interesting characters around, which made it all one great experience.
What are you excited about for Inverse Finance?
I think Inverse Finance is yet to be discovered by the people outside of the inner circles of the "IYKYK"-people. Once that happens, once attention from retail kicks in and Inverse is able to cater to their DeFi needs in a noob-friendly way.. that will be very very exciting in my opinion.
Other than that, the integration of Dola Dola bills y'all!
Opportunities to Contribute
Check-in with us on the Discord if you want to help out and be a part of the Inverse DAO. All help is welcome so don’t be shy!
We are always looking for extra developers to build out new functionality for the ship. So if you are a front or back-end dev and want to work with some of the best in the business, drop by the #recruitment channel in the Discord.
If you know something that needs to be done, please drop by the #newsletter channel and let us know so we can pop it in the next newsletter.
Till next week Invaders!