Bitcoin

A Life in 24 Tweets: The Rise of Inverse.Finance

Inverse.Finance’s social media presence was tracked in 24 tweets within 48 hours and read as follows: the story of a decentralized-decentralized finance startup (DeFi).

The young protocol has already established itself in the course of its short life Total locked down value of $ 4.3 million (A number that seems to be rising as fast as solo developer Nour Haridy can raise the hardcap (or the maximum the project can raise during its fundraiser) and attract depositors with the promise of passive ETH income in DAI The Result is based on early access to future high-performance V2 safes approved by Yearn.Finance.

Excited for the launch of a new Lego DeFi: @InverseFinance

Deposit Dai and earn ETH passively
Powered by Yearn V2 safes
Start monitored with a cap of $ 240,000.

NOT CHECKED

More impressive than the TVL figure is the speed with which Haridy appears to go through the presupposed phases What did we see of DeFi protocols in the past. After he announced to the world on December 17th that he was working on a “new money Lego”, Haridy pushed his project forward with ease: the introduction of new WBTC and YFI safes, the announcement of a government token and a retweet from DeFi master Andre Cronje himself..

A Life in 24 Tweets: The Rise of Inverse.Finance
A Life in 24 Tweets: The Rise of Inverse.Finance

Specifically, Haridy has actively invited hackers to test the protocol for potential smart contract exploits – An infamous rite of passage for many of the protocols – Hoping to avoid it in line with what it promises will be a generous reward for any bug or bug::

Hello hackers. We currently have $ 1.25 million in our contracts.

If you can (not) hack them, send DMs for a very very attractive government badge reward.

Regulate:
1. Find an exploit that could lead to loss of money
2. Don’t try
3. Send it to our DM (not public)

All of that a protocol that doesn’t even have a logo.

To get a better idea of ​​Inverse.Finance’s remarkable growth, we sat down with Haridy to discuss his progress, the future of protocol, and the importance of a one-man DeFi startup. Far from being a boastful and charlatan founder who only talks to talk. Haridy is considerate, preaches caution to investors and withdraws from praise. After the interview, it became clear that if DeFi can attract more developers like Haridy, then it is going in the right direction.

A new Lego

Cointelegraph:: Who are you and what are you working on?

Haridy: I’ve worked as a developer in Ethereum for the past few years. I mainly built Dai smart wallets without gas, like Metacash and Mosendo. At the moment I’m only working on Inverse.Finance. I think it has a lot of potential beyond the current simple MVP layout.

CT:: How was your last 48 hours?

Haridy: Indeed, I’ve been working on Inverse for the past two weeks. The last 48 hours have been no different. Just send updates, increase your deposit limit every day and get feedback from a small community of 200 people on Telegram chat. Until of course Andre retweeted.

CT:: Inverse Finance, Why Not a Food Name? What does it mean to you What will the logo be like?

Haridy: I think iGrocery brands tend to be heavily reliant on the power of the meme as its product is often missing or unsustainable. I don’t want to send this message to anyone else through Inverse.

CT::This tweet it was fun. How would you describe the interest before and after Andre?

Haridy:: The whole project is after Andre to be honest. I contacted him by telegram when he was just writing the contract and he was surprisingly excited and said he would look into it. This was my first reference to product validation that convinced me to publish it publicly. But yeah, he wasn’t ready for all the excitement that followed his retweet. I appreciate the exposure, of course, although it was very stressful.

CT:: How was it to work with the YFI team?

Haridy: Just to be clear, I am not part of the YFI team. I’m just hanging out in your chat. They only whitelisted Inverse to use their V2 safes early. AND They did a lot with the integration and helped review my code and they proposed very important changes.

CT:: You have already had to raise the limits of certain safes. Why are people so excited about your project?

Haridy: Because Andre tweeted about it. Some people call it an Andre coin. Some people have missed the launch of other successful Andre tokens and are trying very hard to make up for it.

CT:: You are currently preparing a government token. It seemed like you wanted to avoid this model, why?

Haridy: I am very concerned that people might trade the token irresponsibly. I do my best to avoid this, but very little can be done. On the other hand, Governance is the only way to incentivize the original community to stay and help, and also to distribute the power that only I currently have.

NO BRAND YET. DO NOT BE CHEAT

CT:: You have openly asked hackers to get THIS step out of the way, and you are trying to get cover for the record. That first Twitter feed is in many ways a blueprint for other developments … Deliberate or just a midnight start mania?

Haridy: The latest, haha. I’ve had a lot of conversations with people who weren’t happy with the decisions I make. Tell me that I am irresponsible and in a hurry. Try to carefully examine each opinion when the money is at stake. But at some point I had the feeling that I wanted to do it my own way.

CT:: A lone developer putting together a passive mutual fund project is downright wonderful and really shows the power of the money layman. What’s next for space?

Haridy: It’s not massive yet and many projects had bigger TVLs before. But I think it would have grown more if there wasn’t a cap at the start. But yes, This project would have been ten times more difficult to build on without Yearn and Compound. It definitely shows the power of DeFi Legos.

I don’t know what’s next for space, but I have a ton of crazy ideas to try with Inverse in the future. I also believe that there is great potential to implement more complicated automated investment strategies with different levels of risk in the form of vaults. In my opinion, longing is really only the PoC.

CT:: A solo developer preparing a passive mutual fund project is nothing short of wonderful and shows his skills and dedication. What’s next for you

Haridy: I’ve been working on it for 2 weeks, so I still have to show my commitment (and I’m planning it). I’ve been in this field for 4 years so of course I’ve earned the ability to create a project like this. Nothing supernatural. In the near future, I will be working very quickly on expanding Inverse’s features and products. I want to iterate very quickly and overtake everyone. Also I plan to experiment with new models of chain government. I think we can improve the current state of governance.

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