Aave News: More Grants, Passing of the keys, and Stani Spills

A recap of the Aave ecosystem, July 5th to July 11th 2021

Welcome to Aave News πŸ‘» The 411 from the Aave ecosystem.

Keep reading for coverage on: Aave Grants DAO Update πŸ— , State of the protocol πŸ“° , Ecosystem πŸ§‰ , Governance βš–οΈ , New market watch πŸ’Ή , Mark your calendar πŸ“† , Aave in the wild πŸŽ™ , and Water cooler πŸ†’

Aave Grants DAO Update πŸ—

More grants. Congratulations to the four newest projects who received grants from AGD. This increases the total distribution to almost $500k across eleven different teams, building on top of or contributing to the Aave ecosystem.

See a recap of each grant below or catch up on what @RafaelSolari from Tally and @Matthew_Graham_ from Llama said about their grants on the last community call.

SafeGuard | @voteWithTally | withtally.com

SafeGuard will let Aave DAO trust multisig committees without having to unilaterally give up control over spending decisions or execution power.

Treasury management | @llamacommunity_

LlamaDAO will work closely with Aave on treasury strategy and prepare:

  • Aave treasury vision doc

  • IPS

  • Initial treasury strategy & implementation

  • Treasury analytics

  • Aave income statement, balance sheet, & cash flow statement

Yield generating limit orders | @SymphonyFinance | symphony.finance

Symphony finance allows users to create limit orders by depositing the sell asset on Aave. This feature allows limit orders to earn yield for the time they are on the order book.

Specialized Aave accelerator track | @defialliance | defialliance.co

DeFi Alliance will make a specialized track in their Accelerator to foster development on top of Aave. They will provide useful support to two projects that have received grants from Aave Grants DAO and take them to the next level.

πŸ‘» Asks - Action Items. The last AGD community call was filled with requests for the Aave community to provide feedback and opportunities to get involved. As a reminder, the 'πŸ‘» Asks' made were:

  • AGD is looking to add someone to coordinate and organize events with partners such as HackMoney and Gitcoin. If this is you, reach out to @AaveGrants or @Helloshreyas.

  • Community analysis on the success of the liquidity mining program or any other feedback on what a new program should look like. Post any response or feedback as a comment to the original post on the governance forum.

  • Any interesting analytics you want to see that are not currently possible with Dune? Get in touch with Omni Analytics.

State of the protocol πŸ“°

DeFi Llama check-in. At the time of this Aave News being published, Aave had $9.45 billion in TVL across DeFi protocols. Digging further into each chain, Aave has $7.59 billion in TVL on Ethereum (ranked third, behind Curve and Instadapp) and $1.86 billion in TVL on Polygon (good for first, ahead of Quickswap and Curve).

For more performance metrics, Aave's own @A_BertoG drops a weekly breakdown of protocol performance on the governance forum, and Omni Analytics maintains a detailed Dune Dashboard for Aave.

Ecosystem πŸ§‰

Sixteen finalists. The finale for Aave sponsored HackMoney by @ETHGlobal was held on July 9th. Over 1000 hackers participated and sixteen finalist teams were named. Congratulations to all the teams and @ETHGlobal for running another awesome hackathon.

Meme for money. The Aave Meme Contest is now live. Each week there is a new theme and the top three memes are awarded a total of $850. See last week's winners and follow @AAVEMemes to be the first to know the theme for each week.

Join the Risk DAO. As mentioned last week, the Risk DAO is a fantastic opportunity for anyone with oracle, legal, or other risk related experience to get involved in the Aave ecosystem. If you are interested read more and apply by making a post in the governance thread.

Shout out to @pakim249, the community member who made the first Snapshot proposal mentioned in the Governance βš–οΈ section, for expressing interest in contributing to the Risk DAO πŸ’ͺ

Governance βš–οΈ

Passing of the keys. Aave governance now controls the AMM market. The passing of the torch Tweet means that Aave governance will now be in control of the AMM market, similar to the V2 market. Governance will vote for which assets to add, any incentive programs, and other parameters governing the market.

First. The first proposal has been submitted to the Aave Snapshot space by community member Aaventurous (pakim249 in the gov forum). The proposal is a temperature check on 'Oracle Improvement for Pegged Assets' and is accompanied by a post in the governance forum. Voting is open until the end of the week (~5 days), so review the proposal and vote to have your address etched in Snapshot x Aave history. Remember, voting is gasless (no fee on your end!) and is open to community members utilizing their AAVE across the ecosystem including stkAAVE, aAAVE, AAVE staked in Balancer pools, and AAVE / aAAVE on Polygon.

New market watch πŸ’Ή

FEI Risk Assessment. An ARC to add support for $FEI as a lending currency first appeared on the Aave governance forum last month. Over the weekend, anjan_vinod from ParaFi followed up with a Risk Assessment on the decentralized stablecoin. The assessment also provided background on FEI including the struggle to maintain its peg early on, where the protocol is now, and proposes risk parameters for a FEI lending market.

Mark your calendar πŸ“†

DeFi Summer NYC - July 15, 2021 in NYC - @RebeccaRettig1 is joining a panel alongside @dgogel, @lay2000lbs, and @mdudas. Registrations are now closed but if you are in NYC join the waitlist or for non-NYCers follow Twitter for updates from the event.

EthCC 4 - July 20th to 22nd, 2021 - Sponsored by Aave and featuring multiple speakers from the genesis team, including Ajit Tripathi (@chainyoda), Emilio Frangella (@The3D_), and of course Stani (@StaniKulechov). Stani's talk topic has been announced!

Stani will also be speaking at:

Aave in the wild πŸŽ™

Stani Spills. On 'Conversation with the Coop', Stani and @Crypto_Texan covered a range of topics including cross-chain functionality between Aave markets, the relationship between Aave Pro and Aave Governance, and the notion of β€œinclusive governance". Follow @Crypto_Texan on Twitter to see a full transcript of the conversation when it drops.

Water cooler πŸ†’

DeFi Report. Download the report from @TaurusGroup_ch which includes a foreword by Stani starting on page four. Stani discusses the origins of defi in early digital money, the growth of Aave since launching, and the current state of the ecosystem, including mentioning NFTs and AGD ☺️

NFTs as collateral. The experiments with NFTs on Aave continues. I wonder which notable NFT focused DAOs or projects stuffed Stani's inbox after this request πŸ‘€

If you are building on Aave or have something you think should be shared in the next edition of Aave News, please get in touch with @0xbilll!