DOLA

DOLA Rank #353

$0.9973▼ 0.03%24h

Low $0.9955High $0.9978

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Market cap$76.60MRank #353

Fully diluted value$108.58M

Volume (24h)$108.4KVol / Mcap 0.14%

Circulating supply76.80MDOLA

Total supply108.87M

Max supply∞no hard cap

All-time high$1.87Nov 13, 2021

All-time low$0.0884Feb 10, 2024

What is DOLA?

Origins and credit

Nour Haridy founded Inverse Finance in late 2020. DOLA became part of its early product suite in 2021. The DAO develops the stablecoin and FiRM fixed-rate lending market. Borrowers supply crypto collateral to obtain DOLA. DBR tokens pay for borrowing time on FiRM. One DBR covers borrowing one DOLA for one year. Personal Collateral Escrows isolate a borrower's assets from other positions.

Supply and peg

DOLA targets a soft peg of one US dollar. Fed contracts expand supply by minting DOLA into lending markets or other approved venues. Contractions withdraw and burn DOLA. Governance sets global and market-specific lending limits. The Peg Stability Module converts between DOLA and USDS, with configurable fees. Its reserve design can use ERC-4626 vaults. DOLA's backing also includes legacy debt positions, whose repayment is tracked by the DAO.

Savings and governance

The separate sDOLA wrapper distributes lending revenue to deposited DOLA. It uses an ERC-4626 structure over the DOLA Savings Account. Borrower DBR revenue is converted into DOLA through an on-chain auction. Inverse Finance's INV token governs protocol decisions, while DOLA is used for borrowing, settlement and liquidity.