For almost two years, the idea behind sDOLA has been pretty simple: deliver a yield bearing stablecoin that is free of gimmicks, centralized custodians, or CEX games in order to deliver competitive yield, while in the background further stabilizing the DOLA USD peg and creating a new demand for DOLA. The events of the past 30 days have brought home - once again - the brutal realities of the dangers of centralized stablecoin yield sourcing and the market’s amnesia about centralization risk. Like UST or SVB never happened.
So we’re taking the next obvious step: bringing sDOLA cross-chain via Chainlink CCIP, so that the same organic yield can follow you to the chains where you actually want to build, trade, or borrow. sDOLA has shown up well on Ethereum mainnet but our work is complete until we expand its footprint to include a growing – and rapidly changing – mosaic of L1 and L2 networks who bring a keen interest in rewarding yield bearing stablecoins who join their ecosystems.
A multichain world needs sDOLA
The long-term mission with sDOLA, like DOLA, is straightforward: sDOLA everywhere. Our advantage is bringing a fully-transparent, decentralized, yield-bearing stablecoin to users who are growing increasingly attuned to the risks of centralized stablecoins.
To get there, we go where the use cases are, including:
sDOLA as collateral in lending markets.
sDOLA in structured products.
sDOLA in DAO treasuries that actually want on-chain, auditable, DeFi-native yield.
sDOLA sitting in the middle of composable stablecoin stacks on L2s and new ecosystems.
Already we’ve seen how powerful sDOLA can be as lending collateral in places like Curve’s LlamaLend market on Ethereum. The idea now is to repeat that pattern on other chains instead of keeping everything bottled up on mainnet.
Meeting Users Where They Are
Taking sDOLA cross-chain with CCIP is the next step in the evolution of sDOLA:
Let existing sDOLA holders follow opportunity to the chains they care about.
Let new users meet sDOLA on L2s without having to touch Ethereum mainnet first.
Let protocols on Base, Arbitrum, Optimism, Berachain, and beyond plug into a yield source that isn’t shackled to a bank or a bond desk.
L2s and alt-L1s must experiment to win/survive and while not all will win, for Inverse step one is just showing up while:
Using partners and infrastructure we actually trust.
Being prudent about liquidity spend and leaning on co-incentives where it makes sense.
Plugging into DEX ecosystems where bribing stable pools is a good use of capital, something we’ve already proven out in other situations like Aerodrome.
Bridging sDOLA with Chainlink CCIP
For sDOLA to be useful beyond Ethereum, we needed a bridge. We chose Chainlink CCIP because it’s made for ERC-4626 vault tokens like sDOLA and provides some unique programmability, security, and liquidity features not found elsewhere. And Chainlink is aggressively expanding its ecosystem of supported chains.
Our first CCIP rollout now brings sDOLA to:
Base;
Arbitrum;
Optimism; and
Berachain
From there, we’re actively exploring additional networks like Plasma, Avalanche, Katana, Polygon, and others as the puzzle pieces line up. And to make this actually usable on day one, we’re working with a growing list of CCIP frontends so you don’t have to think about any of the plumbing:
xSwap – a clean CCIP interface for moving sDOLA across chains. Link.
Interport Finance – another CCIP frontend with sDOLA support. Link.
The basic how-to for you right here:
Open xSwap or Interport.
Select sDOLA as both the source and destination asset.
Pick your chains (e.g., Ethereum → Base, Ethereum → Arbitrum).
Check the gas and time estimates.
Bridge. Your sDOLA shows up on the destination chain and keeps autocompounding like nothing happened.
A Reminder: why sDOLA
sDOLA derives its yield from our fixed rate lending market, FiRM. And yield is what catches the eye of many new users so yes we will continue to leverage the premium we enjoy when lending DOLA at fixed rates on FiRM vs. prevailing variable rates. sDOLA, in a sense, has a built-in advantage over yield-bearing stablecoins that rely on variable rate lending revenue for yield. So as the list of users who prefer fixed rate certainty over variable rate uncertainty grows, so too does sDOLA yield.
Learn more about sDOLA in our docs here and you can follow along on X at @InverseFinance. And learn more about Chainlink CCIP here.
LGTM!
