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

Cointelegraph

Published Apr 29, 2021 06:18PM ET

Updated Apr 29, 2021 08:20PM ET

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.

First floated after “weeks of negotiation” in early April, members of the Inverse Finance DAO began voting yesterday on a proposal to acquire Tonic and hire its solo developer, Tony Snark.

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