Inverse Finance acquires Tonic Finance in possible first-ever DeFi protocol merger

Inverse Finance acquires Tonic Finance in possible first-ever DeFi protocol merger


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.

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Congrats on @InverseFinance Fam for approving a Protocol Merger Onchain!@voteWithTally pic.twitter.com/wZZSvhMzMs

— 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

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