The Inverse Starship — An Inverse DAO Weekly Newsletter — Thursday 10 June 2021

Summary

• Reward Distribution
• Inverse Finance Receives Revenue For Being a Yearn Partner In Yearn Finance’s Fee Sharing Program
• Updates On Anchor Protocol Reward Distribution
• Nour teases potential new protocols
• INV Numbers at a Glance
• Weekly Member Profile @basedXeno
• Meme Of The Week — Massively Effective Devs
• Looking Forward / Opportunities to Contribute

Welcome to the inaugural Inverse DAO weekly newsletter Inverse Starship — each week we will try to condense all the activity happening on the starship into an easy to eat mess-hall ration.

DAO Announcements

1. INV was part of the inaugural Yearn partners to receive a slice of the $564,000 USD in the Yearn Finance fee sharing program from our DCA vaults — a tasty treat with plenty more to come https://twitter.com/inversefinance/status/1400870542773784592

2. The long awaited update to fix rewards distribution for the Anchor protocol was put forward for an on chain vote — which included:

• Upgrade Anchor comptroller contract to new implementation
• Resume rewards distribution retroactively for Anchor lenders and borrowers
• Disable rewards distribution for future Anchor borrowers, reward lenders only
• Pull future Anchor rewards directly from treasury address in order to avoid refilling in the future
• Allocate 100 INV rewards to Ruler INV market LPs (to be managed by Ruler team)

This implementation sets the stage for a number of other rollouts including plans by the marketing committee which were waiting for the rewards update before making the marketing push.

At the time of writing the vote is on its way to passing with 7141 for and 0 against.

3. There was a big round up for rewards distribution this week with the committee distributing 67 INV:

• Escaped26, xINV hype video, 5
• knockerton, INV graphics, 1
• Rafi_Ox, robust twitter threads, 2
• BasedXeno, NDX deal proposal and $DEGEN exploration, 2
• 99donut99 and BluePhoneMao Bittrex facilitation, 3 each
• Adam | BNW, xINV FAQ, 1
• Mas, dev contribution & bug hunting, 10
• aeveus, tsnark and kiwi dev contribution, 5 each
• slokh, dev contribution, 3
• Ben lavabo, 99donuts and DickKingz mod discord + telegram, 4 each
• ME9, mrbrownwhale, somer, kiwi and knockerton mod discord, 2 each

If you would like to get your Invader claws on some INV just jump in and help out the DAO in whatever way you can — if it is ongoing and the DAO finds it useful it can be put to a vote for ongoing funding.

Numbers at a glance

4. Here are some INV token numbers at a glance:

• Current price of INV $288
• 7 day high/low $449/$287
• Total xINV + INV holders 1,941
• INV/WETH Sushiswap liquidity ~$800K

5. Our Defi Pulse ranking #60 @ $21.6M TVL

6. The treasury currently holds 48,209 INV or ~48%.

Nour teases two new protocols in the works

7. Nour teased out this week that he is working on two new protocols which could join the INV family:

• No-KYC admin-less smart contract risk insurance protocol with fully permissionless pool deployment that can cover *any* smart contract https://twitter.com/NourHaridy/status/1400954657808207873
• An oracle-less capital efficient option underwriting protocol with permissionless pool deployment for any combination of maturities and strikes for any ERC20 token while maintaining lower liquidity fragmentation and spreads than CEXes https://twitter.com/NourHaridy/status/1400955897455726598

DAO member profile of the week — @basedXeno

8. We will have a profile every week on a new DAO member so you can get to know your fellow Invaders.

9. This week we stopped by @basedXeno’s quarters on the Inverse Starship to catch-up and ask him a few questions about life on board.

• Can you give us a little background of your life before crypto?

I’m from Sydney, Australia, and believe it or not I was a rapper & music producer. I studied music & marketing, and travelled here and there, until fate brought me to Berlin where I started out earning minimum wage and renting a 10m2 room outside the ring. Over my time in Berlin I worked in marketing, conversion rate optimization and SEO before becoming a front-end developer.

• How did you get into crypto?

I’d been interested in Bitcoin since 2010, and in hindsight spent a sickening amount on random stuff over the past few years, but it wasn’t until 2017 that I became really interested in Ethereum and started getting into the alt coin space. I think DeFi is a revolution, and it’s great to see the adoption and innovation over the past couple of years.

• When and how did you join the DAO?

I actually saw a post from Nour in a group called Lobsters, and was one of the first people to jump over to the Inverse telegram. I had a really good vibe about Nour and Inverse from day one, so I was naturally interested in following the progress. It was and has been really cool to see something go from an idea / prototype into what we see now — with close to 2000 DAO members and a solid core community, and so many things on the horizon.

• What are you excited about for Inverse

I think it’s easy to forget that Inverse is only months old. There are so many big things in the pipeline that I feel sorry for the people who have only focused on the price action and aren’t seeing the bigger picture. Inverse is going to be a key piece in the DeFi revolution, and I can’t wait to see what Nour and Tony and our big brain devs have in store for us. I’m also looking forward to onboarding newbies to DeFi, and showing them how they can use the Inverse tools to gain financial independence, without the sticky fingers of big banks taking their slice.

• What else are you into in the crypto space?

All of it — NFTs, DeFi, ENS, real-world assets, DAOs — this is just the beginning of a revolution.

Meme of the week

10. This weekly meme comes from DAO member Mark11 (we’re biased just this once) who posted a meme based on the revamped Mass Effect game noting how lit the team will be once Tsnark joins full-time — Tsnark is slated to go fulltime invader in late June 2021.

https://twitter.com/Ethermark1/status/1400313040650702851

Want to see your meme here — post it to twitter tagging @inversefinance or put it in the meme discord channel!

Looking forward / Opportunities to Contribute

11. There is lots happening behind the scenes aboard the Inverse Starship — including:

• Potential DOLA vault with Yearn
• Adding stETH to Anchor
• Marketing push from the marketing committee

12. There are a bunch of opportunities to help-out — notably @Adam-BNW is organizing a documentation refresh of the starship manuals (gitbook) — please contact him in the DAO documentation channel if you have some capacity https://discord.com/channels/790157548845924352/793774245762826250

If you know something that needs to be done please drop by the newsletter channel and let us know so we can pop it in the next newsletter.

See you next week Invaders

Mark11 & Akarin