---
title: "Dola (DOLA) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/dola-inverse-finance/"
description: "Build-time stablecoin profile for Dola (DOLA). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Dola (DOLA)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

DOLA is Inverse Finance's CDP-style stablecoin minted via FiRM lending, with a USDS PSM as its peg floor. Inverse Finance's twin $24M exploits in 2022 left scars that became load-bearing, and the protocol genuinely rebuilt from near-zero credibility on the back of FiRM's fixed-rate lending markets generating organic borrower demand. But the C- grade reflects a collateral base that has quietly become anything but diversified: sUSDe now makes up roughly 89% of the backing, which is why the dependency grade sits at F and DOLA's fate is effectively chained to Ethena's synthetic dollar. The sDOLA {{term:yield-bearing}}yield{{/term}} remains the quiet attraction here, sourced from actual borrower interest rather than token emissions, and DEWS tends to hover near the cautious end of the stress scale rather than the calm one. DOLA survived exploits severe enough to end many protocols, but hundreds of brief sub-peg blips and a worst deviation that once approached total collapse remain the asterisk on every metric, and the {{term:psm}}PSM{{/term}}'s USDS backstop is real but thin against that history. DOLA is minted from overcollateralized {{term:cdp}}CDP{{/term}}-style FiRM loans with {{term:liquidation}}liquidation{{/term}} backstops.

## Collateral

Over-collateralized assets deposited in Inverse Finance's FiRM fixed-rate lending markets, currently dominated by DOLA paired stablecoin collateral markets; USDS in the PSM remains a peg backstop

## Peg Mechanism

Fed contracts govern DOLA supply: FiRM Fed mints/burns DOLA in overcollateralized lending markets (~98% of supply); PSM Fed enables 1:1 swaps with USDS as a peg floor; DEX Liquidity Feds adjust supply in AMM pools

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x865377367054516e17014ccded1e7d814edc9ce4` | 18 |
| arbitrum | `0x6a7661795c374c0bfc635934efaddff3a7ee23b6` | 18 |
| base | `0x4621b7a9c75199271f773ebd9a499dbd165c3191` | 18 |
| optimism | `0x8ae125e8653821e851f12a49f7765db9a9ce7384` | 18 |
| fantom | `0x3129662808bec728a27ab6a6b9afd3cbaca8a43c` | 18 |
| bsc | `0x2f29bc0ffaf9bff337b31cbe6cb5fb3bf12e5840` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/dola-inverse-finance.