Proposal to Re-allocate the FiRM Market Ceilings for DOLA/sUSDe LP

Forum Post: https://forum.inverse.finance/t/re-allocate-the-firm-market-ceilings-for-dola-susde-lp/612

Summary

Rebalance the existing $100 million FiRM debt ceiling for the DOLA / sUSDe collateral by shifting capacity from the Yearn vault to the Convex vault:

The overall risk exposure stays constant; only its distribution changes.

Background

• Collateral listing: DOLA/sUSDe LP (Convex & Yearn) was enabled in November 2024.
• Ceiling increase: In December 2024 the DAO raised each vault’s ceiling from $10m to $50m (total $100m).
• Performance: the DOLA/sUSDe market has consistently been the top-performing (or one of the top-performing) markets on FiRM
• Ethena Sats: on 22nd October 2025, the Ethena points multiplier to LPs on FiRM was doubled from 15x to 30x, making it far more attractive for users

Motivation

• Ethena Partnership Milestone:
  The Ethena points multiplier for DOLA/sUSDe LPs on FiRM has recently doubled from 15× → 30×, making FiRM’s markets one of the highest-yielding Ethena partner opportunities currently available. This upgrade highlights the strength of Inverse’s collaboration with Ethena and cements DOLA/sUSDe LPs as one of the most attractive points-earning venues in the ecosystem, given the ability to lever it.
• Utilization Disparity: Despite equal 50M ceilings, the Convex LP is near full utilization (~40M borrowed) while the Yearn LP remains lightly used (~10M). Without reallocation, new inflows risk being blocked despite strong borrower demand.
• Unchanged risk profile: Total debt, LTV parameters, and oracle sources remain exactly as already approved.

On-Chain Actions

• Set the market ceiling of Yearn DOLA/sUSDe FiRM Market to 20m DOLA
• Set the market ceiling of Convex DOLA/sUSDe FiRM Market to 80m DOLA