One of the final items in our Frontier re-launch sequence – re-enabling DOLA borrowing against staked INV – is now live.
Re-enabling users to borrow DOLA against our INV governance token has been a priority for us since April 2nd when the price of INV was subject to an oracle price manipulation. At the time of the incident, we disabled borrowing against INV and since then have worked to research, create, and thoroughly test a solution that can avoid a repeat of the same manipulation but also address other attack vectors. Our solution, a new time-weighted average price oracle, will help defend us against future price manipulation attempts. Note that this could not have been possible without the contribution of many DAO members with special recognition of our latest engineering hires, 0xMT and Yellowtail.
A Chainlink oracle for INV—which is still our goal for an INV price feed—requires higher daily volume and liquidity than is currently supported in our DEX and CEX trading. Still, this new oracle is a satisfactory interim solution and allows us to enable DOLA lending again on Frontier.
New Yield-Bearing Collateral Assets
We are also excited to announce that we are adding even more yield-bearing assets from Yearn. Along with the other recently-added assets, we are also adding Iron Bank’s yvcrvIB, as well as yvcrvCVXETH and yvcrv3crypto to our list of yield-bearing Yearn assets that are available on Frontier as collateral. One thing worth mentioning: all of these Yearn assets utilize Chainlink price feeds. You can learn more about yield-bearing assets, and the other assets we are looking to add here.
This brings our tally of yield-bearing Yearn assets available to deposit on Frontier to 10!
Inverse's New Risk Working Group
One final note: in recent months, the DAO has also established a Risk Working Group (RWG) that, among other activities, regularly monitors potential risk and security issues and offers reports on improving security and security operations for Inverse. This includes performing periodic risk assessments on existing assets on Frontier and analysis of new assets that are under consideration. The RWG team has also provided valuable feedback on the relaunch of our Frontier money market, pushing for a phased rollout to allow for thorough testing of, among other things, new in-house monitoring tools. We will be sharing a dedicated blog post on the Risk Working Group's plans very soon.