Last week we announced that Inverse Finance DAO would enter the Curve Wars. Our goal is to significantly expand DEX liquidity, grow DOLA circulation to support faster growth, and ultimately to execute a make-good for those affected by the April 2, 2022 price manipulation incident.
The Curve Wars refers to stablecoin projects competing to ensure that their liquidity pools on Curve are offering the highest $CRV rewards, commonly referred to as “bribes.” Stablecoin projects, now including Inverse Finance, allocate funding to owners of $CRV tokens on a temporary basis resulting in boosts in liquidity on the Curve decentralized stablecoin exchange.
Today Inverse fired its first shot with a set of bribes on Curve, beginning with 200 INV to CRV voters. This will result in a significant APY increase for DOLA-3POOL on Convex and Yearn once CRV voters allocate their gauge voting power to Inverse. As voters secure CRV incentives for the DOLA-3Pool, users can deposit assets into the liquidity pool to earn impressive yields.
Until today, Inverse has been neutral in the Curve Wars in favor of an exclusively organic demand generation strategy, however recent events led us to re-evaluate our liquidity needs and today’s announcement is the first of multiple moves we are making to boost DOLA liquidity on Curve.
We look forward to sharing more updates from the Curve front. Soon.