Summary

We propose the launch of a stablecoin-as-a-service platform, Monolith, enabling permissionless creation of immutable stablecoins using any collateral on any chain.

Monolith-deployed stablecoins feature:

• Immutable over-collateralized single-collateral design
• Autonomous interest rate controller.
• Borrower choice between Interest-free or redemption-free borrowing.
• Yield-bearing vaults for stablecoin holders.
• Fee access for deployers.

Benefits to Inverse Finance DAO:

• New revenue streams.
• Reduced DOLA liquidity costs.
• Accelerated cross-chain expansion.
• Expanded collateral options for FiRM.
• Faster DOLA bad debt repayment.

Project Details

Full details of the Monolith project can be found on the original proposal text on the forum. The current project specification is non-binding and is subject to change based on feedback.

Budget Request

• To minimize the investment in Monolith for Inverse Finance, we present a single budget request leading to the launch of Monolith as it is expected that ongoing marketing and other post-launch Monolith expenses will be paid via Monolith-generated revenues.

Monolith 90-Day Launch Expenses

On-chain Actions

• Approve 202,052 DOLA to Risk Working Group Security Ops multisig
• Approve 130,000 DOLA to Product Working Group multisig (+17,637.5 existing allowance)