Forum proposal: https://forum.inverse.finance/t/proposal-to-fund-chainlink-oracle-for-dola/602

Summary

Authorize Inverse Finance to subscribe to a Chainlink DOLA/USD price feed on Ethereum mainnet and Base, using budget previously approved by the DAO for Redstone oracle expenses.

Why Inverse Needs a Chainlink Price Feed

Inverse has been requesting a Chainlink price feed for several years, but only recently has DOLA volume reached a sustained level that now qualifies it for a Chainlink feed.

While waiting for Chainlink qualification, the DAO previously authorized funding for Redstone price feeds. However, instead of spending on third-party oracles, we successfully negotiated the use of hard-coded $1 DOLA values or EMA price feeds from Curve on multiple occasions — saving the DAO meaningful costs.

That approach is no longer sufficient. With sDOLA being considered more frequently as collateral for third-party lending markets — most recently at Morpho — curators and others are insisting on a high-quality, industry-standard price feed. Chainlink is the preferred provider and also meets our budget constraints.

A Chainlink feed for DOLA will also deliver brand benefits for both prospective partners and users, strengthening DOLA and Inverse’s credibility across the DeFi ecosystem.

Note: GWG is working with TWG on new liquidity opportunities on Berachain. Since Chainlink does not currently provide a price feed on Berachain, this proposal also requests permission to allocate funding for DOLA price feeds on other chains via providers like Chronicle Labs or other oracle providers, budget permitted.

Background on Prior DAO Approvals

• On April 15, 2024, the DAO approved a budget of $32,800 for Redstone oracle services.

• On November 27, 2024, the DAO approved an additional $12,800 for Redstone oracle expenses as part of the GWG Season 3 proposal.

• No DAO funds to-date have been spent on Redstone oracles.

• Together, these approvals total $44,800, which is sufficient to fund both the Chainlink DOLA/USD feed and a non-Chainlink feed (e.g. Chronicle Labs) on Berachain for one year.

Terms of Service

• Initial Term: 1-year minimum, auto-renews monthly unless either party terminates with 30 days’ notice after the first year.

• Payment: Invoices payable in USDC. The Growth Working Group will swap DOLA → USDC on CoW Swap to fund monthly payments.

On-Chain Action

Re-authorize the existing 55,170 DOLA in the Growth Working Group multisig.