In a possible decentralized finance (DeFi) first, Inverse Finance’s governance has approved today a proposal to buyout Tonic Finance in a $1.6 million-dollar deal that will bring Tonic under Inverse’s umbrella.
First floated after “weeks of negotiation” in early April, members of the Inverse Finance DAO began voting yesterday on a proposal to acquire Tonic and hire its solo developer, Tony Snark.
The proposal quickly crossed the 4000 token approval mark and as of today is set to pass — notably without a single dissenting vote.
That feeling when your DAO is completely aligned in vision. Imagine how much you can get done.
— Dennison Bertram (@DennisonBertram) April 29, 2021
As a result, Snark will receive 250 INV — Inverse’s native governance token — immediately, and is set to receive another 250 upon “becoming a full-time contributor” as well as an additional 1000 INV vested over two years. Tonic, which built