How to boost your DOLA returns on Optimism ... Overnight


Risk Working Group


3 min

Cover Image for How to boost your DOLA returns on Optimism ... Overnight

We’re excited to announce the continued buildout of our presence on Optimism, with a new partnership with Overnight Finance, creators of the USD+ stablecoin. Inverse Finance and Overnight are kicking things off by jointly incentivizing the new DOLA/USD+ LP on Velodrome, pooling together 1000 $OP and 45,650 $VELO for Epoch 36.

This joint effort, along with the levers used by Inverse to increase our Velodrome bribe match, will lead to very efficient and affordably incentivized DOLA liquidity for the DAO. 

Jointly incentivized LPs mark an exciting development for DOLA and Inverse, as it positions us to further deepen DOLA liquidity on-chain, allowing for further expanding lending capabilities on FiRM and for future collaborations with other protocols building on Optimism.

About Overnight

Overnight Finance is the protocol behind the USD+ stablecoin, a stablecoin that is 100% collateralized with assets immediately convertible to USDC. The innovation behind USD+ is its rebasing mechanism, which adjusts the total supply of the stablecoin based on the level of collateralization. When the collateralization grows above 100%, the stablecoin rebases upwards, bringing profits to its holders, and vice versa if collateralization falls below 100%. USD+ is currently deployed on Optimism, BNB Chain, and Polygon, and can count on $11.2M in circulating supply.

How This Partnership Works

By co-incentivizing the DOLA/USD+ LP with Overnight Finance, Inverse also opens up the possibility for future collaborations with a protocol that has recently made similar headway both on Optimism (via Velodrome), and BNB Chain (via Thena Protocol). USD+ sits #6 on Optimism’s stablecoin list with just over $8.6M TVL, and ahead of other noticeable players.

Our joint efforts to incentivize liquidity will ensure that we have a second deep DOLA LP putting us in a stronger position for a potential future FiRM deployment on the Optimism chain. We believe Optimism has the necessary infrastructure Inverse seeks in a Layer 2 solution, including faster and cheaper transactions compared to Ethereum. 

Inverse Finance is constantly seeking new opportunities to expand its reach and offer its users the best yields and DeFi experience available when interacting with our products. Partnering with Overnight Finance opens up the prospects for further growth on Optimism, and potentially also on BNB Chain. If you or your protocol is building on these chains and interested in working with us, please do not hesitate to reach out!

Learn more about Overnight Finance by visiting their website, or by following them on Twitter.


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