Aave News #68
Receive upfront yields with Flashstake, explore ten Aave hackathon winners, and delegate your AAVE to help reach the largest quorum required in Aave governance.
For anyone who has already delegated their proposition power for the upcoming vote, including: Spotlight🔦 | Protocol📰 | Ecosystem🧉 | Risk🔎 | Governance⚖️ | Events📆 | Hey Anon👻
// Spotlight: Flashstake 🔦
Flashstake allows you to receive your Aave returns instantly, upfront. No more waiting to earn yield! Also check out a mock up of a potential product that could be built on top of Aave and Flashstake: Flashlending or FLAAVE.
// Protocol 📰
BGD. Aave v3 Ethereum. New deployment vs Aave v2 Upgrade. An on-chain vote that would be the largest quorum Aave governance has ever seen is scheduled to start October 4th. The AIP will change the voting requirements which is why the quorum required is much than usual (900k YES votes over a 10 day vote). Read more about the two votes that are coming and if you have AAVE and want to support, delegate your proposition power.
Paul from Gauntlet shared a post mortem of AIP-97 that paused ETH borrowing.
// Ecosystem 🧉
The ETHOnline Hackathon wrapped up. Congrats to all the hackers and especially everyone who built something on top of Aave at the ETHOnline Hackathon. Explore the ten Aave prize winners across five bounties.
Thank you to everyone who joined our AMA with iGain Finance earlier this week.
In line with Gauntlet’s new mantra “If you are wrong, you don’t get paid”, they put up 30% of the AAVE funding they previously received for any insolvencies that arise from their predictions. Read more in their ‘Insolvency Refund from Gauntlet’ forum post and in Risk 🔎.
19 different community members participated in and won over $125k in Certora’s latest continuous verification of v3.
Messari shared their Aave Weekly Report.
// Risk 🔎
In case you haven’t seen it, check out the AAVE V2 Risk Dashboard and Analytics Dashboard developed by Gauntlet. Gauntlet has also launched the AAVE Arc Risk Dashboard. The Gauntlet team is particularly keen on iterating on this dashboard for the community and would love feedback via this Google Form.
For more details on how Gauntlet manages market risk for AAVE, please see Gauntlet’s Parameter Recommendation Methodology and Gauntlet’s Model Methodology.
Risk Parameter Updates:
Details can be found in this ARC
Gauntlet proposes adjusting seven (7) total risk parameters, including Liquidation Threshold and Loan To Value, across four (4) Aave V2 assets.
This batch update of risk parameters aligns with the Moderate risk level chosen by the Aave community. These parameter updates are a continuation of Gauntlet’s regular parameter recommendations. Gauntlet’s simulation engine has ingested the latest market data to recalibrate parameters for the Aave protocol. An AIP will be published on 9/27/2022.
Insolvency Refund from Gauntlet:
Details can be found here
To increase Gauntlet’s alignment with Aave and put “skin in the game,” Gauntlet will refund a portion of its service fee should its risk parameter optimizations incur losses for the DAO during Gauntlet’s partnership. Gauntlet’s ultimate goal is to protect the protocol - Gauntlet stands behind its work and wants to increase accountability.
A portion (30%) of Gauntlet’s service fee already paid from AIP-50 has been transferred in a lump sum to a new multi-sig contract. Should insolvencies occur, Gauntlet will share an update with the community and send funds back to the DAO in a timely manner.
// Governance ⚖️
See Boardrooms governance summary for the Week of September 19th
On-chain votes:
Risk Parameter Updates for Aave V2 (2022-09-22) | Governance discussion | Snapshot | Read more in Risk 🔎 | 🗳 Vote until September 30th
Snapshot votes:
[ARC] Change Admin role of Optimism and Arbitrum V3 markets | Governance discussion | 🗳 Vote until September 30th
Llama <> Aave | Governance discussion | 99.6% YAE (290K AAVE) ✅
[ARC] Whitelist Balancer’s Liquidity Mining Claim | Governance discussion | 100% YAE (273k AAVE) ✅
Add Login With Unstoppable as an option to the wallet connect dialog of the Aave app | Governance discussion | 89% YAE (11k AAVE)
ARC: Improve Governance Discussion and Voting Processes with Commonwealth | Governance discussion | 92.6% Do Nothing (176k AAVE) ❎
Other discussions from the forum:
ARC: Add new KNC to Aave v2 and v3 | Gauntlet make the recommendation to enable KNC as collateral on Aave v2. recommendations for listing
FranklinDAO (Prev. Penn Blockchain) Delegate Platform | Updates on their votes for the Llama <> Aave Snapshot and recent parameter changes.
Launch Aave V3 on Metis | l2beat restarted the forum discussion by providing a breakdown of Metis’ bridge security and sequencer.
Updated Proposal: Chaos Labs - Risk & Simulation Platform | Chaos Labs shared an updated proposal with the community that included a revised scope. It has received mixed support so far.
// Events 📆
Devcon 🇨🇴 - October 11 – 14
rAAVE 🇨🇴 - October 12 →
DAS: LONDON 🇬🇧 - October 17 – 18
// Hey Anon 👻
Have you collected these Aave explainer videos on Lenstube?
