DOLA
DOLA
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
DOLA is an over-collateralized, decentralized USD stablecoin issued by Inverse Finance, maintaining a multi-chain footprint and holding its $1.00 peg consistently through its FiRM lending architecture and Peg Stability Module (PSM). Tokenomics are functional with roughly $102.6M in circulating supply and structured over-collateralization, though centralized Fed multisig controls and relatively low holder counts (~1,784 on Ethereum) constrain broader market penetration. In Security, Inverse Finance suffered two oracle manipulation exploits in 2022 totaling over $15.6M in bad debt; however, these losses were fully resolved via audited repayment contracts over four years prior to evaluation (>24 months ago) and therefore do not trigger a red-flag cap. Data gaps exist for Active Development and Team & Governance (both scored -1.0 due to search/ticker collisions with unrelated academic/corporate entities), and their weights were redistributed proportionally across the four remaining evaluated sections.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About DOLA (DOLA)
DOLA is a decentralized, debt-backed USD stablecoin governed by the Inverse Finance decentralized autonomous organization (DAO). Operating primarily on Ethereum with deployments on networks including Arbitrum, Base, BNB Smart Chain (BSC), Fantom, and Optimism, DOLA functions as a decentralized unit of account backed by collateral assets such as ETH and WBTC. The token uses an elastic supply model where DOLA is minted through overcollateralized borrowing on the FiRM lending protocol and direct swaps via a Peg Stability Module (PSM), and burned upon loan repayment or token redemption.
The issuance and circulation of DOLA are managed by DAO-governed DOLA "Feds" via multisig control. Within the Inverse Finance ecosystem, demand for DOLA is driven by lending, decentralized exchange liquidity provision, and sDOLA staking. The stablecoin maintains a market capitalization of approximately $102.6 million and has historically maintained its $1.00 peg, though adoption remains relatively concentrated with fewer than 2,000 holders on Ethereum.
Inverse Finance has experienced notable security incidents. In 2022, the protocol suffered two exploits, including an April 2, 2022 oracle manipulation attack on the Frontier lending market where an attacker borrowed approximately $15.6 million in DOLA, ETH, WBTC, and YFI against an inflated INV price. These exploits generated protocol bad debt and resulted in the pausing of the Frontier market. Inverse Finance subsequently deployed audited debt repayment contracts to resolve the bad debt and transitioned its lending operations to the FiRM architecture, which underwent a security review by Code4rena.