sDOLA, issued by the Inverse Finance Protocol smart contracts under the governance of INV tokenholders, is a yield-bearing tokenized vault that wraps the debt-backed U.S. dollar (USD) stablecoin DOLA to accrue protocol revenue. [S1][S2]

sDOLA represents a proportional claim on DOLA held in an ERC-4626 DOLA Savings Account vault. [S2] It earns DOLA Borrowing Rights (DBR) revenue paid by FiRM fixed-rate borrowers; a portion of DBR is auto-swapped for DOLA via onchain auction and added to the vault, so the DOLA:sDOLA exchange rate compounds weekly. [S2][S3] Holders receive total return through exchange-rate appreciation rather than distributions. [S2] No deposit, withdrawal, or management fee is disclosed. [S3]

There is no incorporated issuing entity; Inverse Finance describes itself as a decentralized, open-source protocol not affiliated with any central authority, governed by the Inverse Finance DAO of INV tokenholders. [S4][S1] The holder's claim is an ERC-4626 vault token, not a fund interest, security, or trust beneficial interest. [S2] Access is open to any wallet with no KYC, accreditation, or qualified-investor gating, and users must follow their own local laws under an as-is, no-warranty disclaimer. [S4][S3] sDOLA redeems on demand by unwrapping to DOLA at the current exchange rate with no maturity, waiting period, penalty, or minimums; staked DOLA never leaves the contract and is not rehypothecated. [S2]

sDOLA is an ERC-4626 vault token built on DOLA, an ERC-20 stablecoin issued natively on Ethereum mainnet and available on Optimism, Base, and Arbitrum. [S5][S3] It is available across multiple chains with exchange rates synchronized via Chainlink CCIP. [S2] Minting deposits DOLA at the current exchange rate; redemption is instant and onchain, and the exchange rate serves as the published price reference. [S2]

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    { id: "S1", url: "https://docs.inverse.finance/inverse-finance/" },
    { id: "S2", url: "https://docs.inverse.finance/inverse-finance/inverse-finance/products/tokens/dola/sdola.md" },
    { id: "S3", url: "https://docs.inverse.finance/inverse-finance/llms-full.txt" },
    { id: "S4", url: "https://docs.inverse.finance/inverse-finance/inverse-finance/about/disclaimer.md" },
    { id: "S5", url: "https://docs.inverse.finance/inverse-finance/inverse-finance/products/tokens/dola" },
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Tokenized funds

Borrowers deposit funds into Inverse Finance and receive DOLA stablecoin.

Inverse Finance is a non-custodial stablecoin protocol built on Ethereum. Inverse Finance was founded by Nour Haridy and launched in 2020.

INV tokenholders own and govern the protocol. They currently take all of the fees paid by borrowers (revenue).

governance

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Stablecoin issuers

Inverse Finance

Inverse Staked DOLA (sDOLA) is a tokenized fund share issued by Inverse Finance.

Each token is a direct claim on the issuer.

The fund is open-ended, invests in crypto assets, and locks up subscriptions for 0 months.

Retail investors can mint and redeem directly with Inverse Finance in DOLA, and holders have a right to redeem at net asset value with instant settlement.

sDOLA has been issued on Ethereum as an ERC-4626 token since February 2024.

Inverse Staked DOLAsDOLA

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