Aave News: Hack at ETHMexico, $OP Rewards, The Merge, Retroactive Funding for v3 & More

A recap of the Aave ecosystem, August 1st to 7th 2022

Aug 10, 2022

Spotlight: ETHMexico 🔦

Apply to hack during ETHMexico! Join us August 19th-21st for an IRL weekend hackathon located in the vibrant cultural hub of Mexico City. Experiment with web3 and explore all that Mexico has to offer with developers and creatives from around the world at one of the most exciting events yet.

What to expect:

💰Win $200k+ in prizes including up to $20k in Aave bounties

🧩 Learning opportunities like workshops on how to get started hacking on V3

🗺 Collaborate with top devs from Aave and other builders from around the world

🪙 Claim POAP Tokens to show off to your friends

🔗 mexico.ethglobal.com

Protocol 📰

Feeling Optimistic 👻 OP rewards are now live for borrowers and depositors on the Aave Optimism Market. 5mm OP will be distributed over the next 90 days
BGD shared a technical analysis of the impact The Merge will have on Aave. Read the overview thread or dive into the full governance post - “To summarize, we expect The Merge to almost not affect Aave's smart contracts…”
Aave Companies posted a proposal for the DAO to distribute retroactive funding for their work developing v3

Ecosystem 🧉

Earn your slice of a $25k prize pool by taking a stab at Aave v3 bounties by MetricsDAO
Watch an intro video that explains what Aave is in a friendly and easily digestible way! Share it with someone who is new to the ecosystem to help them build their knowledge
Read Increments’ most recent newsletter which covers the status of their beta and takeaways from EthCC
Flipside is the latest contributor to post their delegate platform, joining Llama, Lucas from Centrifuge, and Penn Blockchain
Thanks to all of the shout outs from new grantees after we shared our August Aave Grants update last week. Congrats to all the teams, we’re stoked about what each of you are building!

omer @omeragoldberg

@chaos_labs is really excited to partner with @AaveAave to build a Collateral At Risk and User Metric dashboard! this is a small taste of the impact we hope to drive for the community moving forward 🥳 👻 thanks @AaveGrants for being a great partner! chaoslabs.xyz/posts/chaos-la…

chaoslabs.xyzChaos Labs Receives AAVE GrantChaos Labs, a cloud security platform for DeFi applications, has been awarded an AAVE Grant to build a collateral at risk and real-time user metrics dashboard.

Timeless Finance @Timeless_Fi

The audits of our ERC4626 wrappers for Aave v2 and v3 will start on August 15, 2022. Expect a massive release of new yield markets on L1 and L2🤯 with big brain solutions to bootstrap liquidity. You're not ready anon!

AaveGrants.lens @AaveGrants

Yield Daddy @Timeless_Fi is an open-source library of ERC4626 wrappers for yield-generating protocols like Aave. It makes it easier for developers to build new protocols that deal with yield s/o: @boredGenius

DeFi Basket @DeFiBasketLabs

We are humbled to receive a grant from @AaveGrants 🌱 Huge respect by what has been built by the @AaveAave team We are excited to build on top of it and make baskets of aTokens easier to manage 🧺

AaveGrants.lens @AaveGrants

DeFi Basket @DeFiBasketLabs allows the creation of portfolios and indexes containing aTokens. For example, you can get aBAL, aAAVE, aCRV, and aLINK in a single tx. It also enable baskets with investments in liquidity pools containing GHO and other current and future products

iGain Finance | Crypto Derivative Trading Platform @iGainFinance

📣 The iGain Finance team is excited to announce that we have received a grant from @AaveGrants @AaveAave! 🚀 The fund will not only help our team build more on Aave's ecosystem but will also allow us to scale up our marketing activities in the space. medium.com/@iGainFinance/…

medium.com[OFFICIAL] Aave awards a Grant to iGain Finance!Great news!

Hakka Finance | Decentralized Finance Ecosystem @hakkafinance

BOOM 💥 We are excited to announce that the latest Hakka product, @iGainFinance has received a grant from @AaveGrants to boost our development in their ecosystem!

AaveGrants.lens @AaveGrants

iGain @igainfinance IRS empowers Aave users to be protected against interest rate volatility via derivative instruments. Traders may also take advantage of interest rate fluctuations by longing or shorting interest rates s/o: @hakkafinance, the DAO behind iGain

Cryptoversidad @cryptoversidad

We are thrilled to be working with @AaveGrants to create quality education about the @AaveAave protocol! Take a look at the first video here and tell us what you think about it! youtu.be/z9qr_AQyL1o @StaniKulechov @0xbilll @HelloShreyas @lemiscate More videos very soon👀

AaveGrants.lens @AaveGrants

Cryptoversidad @cryptoversidad's mission is to accelerate the mass adoption of crypto. They will develop a full audiovisual library of resources that explain the Aave protocol; from mechanisms, tokenomics, governance, riks,, versions and other in-depth step by step tutorials

Risk 🔎

Risk Parameter Updates:

Details can be found in this ARC

Gauntlet proposes adjusting seven (7) total risk parameters, including Liquidation Threshold and Liquidation Bonus 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. Our simulation engine has ingested the latest market data to recalibrate parameters for the Aave protocol. Please note that this set of parameter changes will be lowering liquidation threshold for CRV and ENJ. The community has aligned on a Risk Off Framework regarding lowering liquidation thresholds. An AIP will be published on 8/9/2022.

Aave V2 Parameter Changes Specification: