Inverse Finance is proud to announce that we have been selected as launch partners for Thena, a next generation Automated Market Maker (AMM) launching soon on BNB Chain, also known as Binance Smart Chain. Inverse will receive a veNFT representing 1% of $THE’s initial token supply, which provides valuable initial support as we make our entrance onto BNB Chain and Thena.
This partnership represents an important milestone for Inverse, as it will also bring about DOLA’s debut on BNB Chain, and enables us to expand our presence and reach in the rapidly growing and high TVL chain. Inverse joins a distinct cohort of launch partners including Frax Finance, Multichain, Tarot Finance, DAO Maker, Ankr, Qi DAO, Liquid Driver, and more. Each will bring liquidity, users, and utility to a thriving ecosystem.
Thena
Thena was founded with the vision of becoming the first truly native liquidity layer within the BNB ecosystem that has a “by design” collaborative approach. In their own words, “Thena draws inspiration from Solidly, which is an AMM and a liquidity layer originally built by Andre Cronje on Fantom — offering low-cost, near-zero slippage transactions for highly correlated and uncorrelated tokens. Thena, on the other hand, has several key differentiators that makes it a superior liquidity layer & AMM.
Firstly, pool fees are captured by gauge voters, instead of the Liquidity Provider (LP). As a result, voters tend to vote for the most productive pools, making incentives emissions more usefully targeted. In turn, this aligns the interest of veNFT holders with the success of the protocol.
The Solidly approach being used by Thena uses a clever mixture of approaches. First, the Curve model which incentivizes token locking with voting power over gauges and the added benefit of access to the protocol fees. This approach is combined with the Olympus model,commonly known as “ve(3,3)” tokenomics, which notably provide a “rebase mechanism” that helps to shield lockers from dilution. This mechanism is designed to offer better incentives for long term holders and realigns interests of stakeholders by redirecting fees to voters instead of LPs.
This blend of models helps to solve the “cold start” liquidity problem by enabling a free market for incentives, allowing protocols to exchange tokens for gauge votes. This in turn reduces the cost of incentivizing liquidity and means less selling pressure on the protocol’s token — a win win.
DOLA is [soon] on BNB Chain!
Since its launch in 2017 by the team at Binance, BNB has attracted a large, growing, and decentralized community of users and developers, forming partnerships and collaborations with a number of leading companies and organizations, and becoming one of the most popular and widely used blockchains in DeFi. The progress and adoption of BNB has been impressive, and it is likely to continue to grow and evolve in the coming years. BNB Chain offers a unique combination of features and capabilities that are attractive to users and developers, and it is well-positioned to capitalize on the increasing demand for DeFi applications and services. As such, we see this as an opportune time to deploy DOLA on the chain.
The launch of DOLA on BNB Chain will provide users with more options and flexibility, and it will also increase the liquidity and accessibility of DOLA as we continue our multichain journey. In Thena, Inverse will gain access to a network of protocols and builders on BNB, and be supported as we drive early DOLA adoption on BNB by building out our first LP: DOLA-BUSD.
In supporting a deep liquidity pair with BUSD, DOLA eases its reliance on the 3Pool, which has been stress tested twice in 2022, during the Luna-Anchor’s collapse and just last month during the FTX collapse, driving protocols such as ours to seek alternatives in an attempt to mitigate risk.
$THE Airdrop
We are also excited to announce that, as launch partners for Thena, Inverse has been designated an additional 650,000 $THE, representing 1.3% of initial supply, that will be airdropped to $INV stakers and DOLA LPers!
Hint: Inverse will be rewarding its power users… More details, including the distribution schedule and snapshot date, will be announced soon, so stay tuned for updates!
Looking Forward
We are excited to be working with Thena Protocol as launch partners, and we believe that this partnership will help us to continue to grow DOLA and evolve as a leading DeFi player.
In the coming months, we will be working closely with Thena to integrate DOLA with their platform and to further expand DOLA on BNB Chain. We will also be exploring other opportunities and collaborations that will enable us to continue to innovate and to drive INV and DOLA adoption and growth.
Stay tuned for more updates and exciting news as we continue to build and grow with Thena!
