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10 May 2021

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

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


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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. .

Tonic, which built dollar-cost averaging vaults (a competitor to Inverse’s initial product), will continue to operate under the Inverse umbrella. .

“Tony will be joining Inverse as a full time dev to lead the entire Inverse DCA product lineup including both our yield vaults and the acquired Tonic Finance Swirl vaults,” said Inverse Finance founder Nour Haridy of the vote.

This was aided in part by the fact that Tonic did not have a governance token, and negotiations could take place with Snark directly.

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