Aave News Update 👻

Now Sharing Aave Grants’ Monthly Updates

Hi Aave News fans!

Thanks for sticking with us. Aave News will be transitioning to sharing the monthly updates that Aave Grants has shared in the Aave governance forum over the past year.

These updates will be the one stop source for updates from Aave Grants including new grantees, milestones from existing teams and new initiatives from the Aave Grants ecosystem.

For a taste of what you can expect, keep reading for the most recent update from Aave Grants. Subscribe so you do not miss the next monthly update from Aave Grants.

👻 AGD Update - August 2023

Original posted by 0xMigi on the Aave governance forum.

Overview

This update covers grants given during August by the Aave Grants DAO along with an update on our proposal to continue Aave Grants for 6 months.

Grants Summary

Total numbers for the Grants program’s spending are listed below, beginning mid-May of 2021 when the program began until the end of August.

• Total Grant Applications Received: 2176

• Total Applications Approved: 255

• Acceptance Rate:

  • written(stage 1): 12%

  • video call(stage 2): 74%

• Total Amount Dispersed:$4,845,753

• Complete Grant Payments: 86%

• In-progress/Incomplete Grant Payments: 14%

• Status of all grants:

  • Complete/Live - 67.6%

  • In-progress - 24.8%

  • Inactive - 7.6%

• Amount and Quantity Approved by Category:

  • Category - $cumulative cost - number approved

  • Applications and Integrations - $2,664,556 - 108 grants

  • Code audits - $82,000 - 3 grants

  • Committees & DAOs that serve Aave’s ecosystem - $703,780 - 18 grants

  • Community (marketing and educational) - $698,550 - 52 grants

  • Developer tooling - $415,000 - 13 grants

  • Events / Hackathons / Sponsorships - $185,000 - 14 grants

  • Other - $294,900 - 12 grants

  • Protocol development - $474,200 - 21 grants

August Approved Grants

We received 105 grant applications this August and sent funds to 8 new grantees. The 8 awarded grants totalled a cumulative $136,500 in funding across single and tranche-based payments. The 8 awarded grants fell into three of the standard eight categories with Application and Integrations being the most awarded. Listed below are the awarded grants for August ranging from largest to smallest by funding size:

• Compass Labs - $40,000(tranche) - Applications and Integrations

  • “Compass Labs is integrating Aave into dojo. Dojo is a DeFi research platform empowering DeFi investors & developers to test, train and optimize strategies & smart contracts at the EVM level. By bringing Aave into the Dojo network, we unlock the full potential of on-chain strategy innovation decentralised financial products.”

  • Funds will cover work done to integrate Aave into the dojo network allowing strategists and smart contract developers to test, train, and optimize strategies and smart contracts at the EVM level.

• Sommelier - $35,000(tranche) - Applications and Integrations

  • Seven Seas Capital, the team behind four of the most popular vaults on the Sommelier platform and previous AGD grantee, is working on a TurboGHO vault that intends to accelerate GHO adoption and make GHO liquidity more sticky.

  • Funds will cover development costs split across two milestones.

• CIAN Protocol - $15,000(full) - Application and Integrations

  • “This grant will help CIAN accelerate the development of new delta-neutral strategy vaults using AAVE as the core lending/custody protocol.”

  • Funds will go toward market analysis, development, and auditing costs or the new delta-neutral strategy vaults.

• Altitude.fi - $15,000(full) - Applications and Integrations

  • Altitude is an onchain protocol aimed at actively managing collateralized debt by deploying the user’s excess borrowing capacity into Aave making borrowing more efficient for interested users.

  • Grant will help fund the integration of Aave along with a second security audit.

• DeFi Simulator - Asset Risk Parameter Editor - $14,000(full) - Applications and Integrations

  • “This project will deliver a UI that gives anyone the ability to precisely see how a governance proposal to modify risk parameters affects any individual Aave position. Users will be able to instantly see how risk parameter changes affect health factors, liquidation prices, and borrowing power. Additionally, those participating in governance will have a new tool to understand the impacts of proposals upon relevant individual positions.”

  • Funds will pay for time spent designing and implementing these features.

• Aave RFPs & Service Provider ToS - $10,000(tranche) - Committees & DAOs that Serve Aave’s Ecosystem

  • The “Aave RFPs & Service Provider ToS” is a preliminary framework intended to improve how service providers are selected and engaged with Aave DAO proposed by @benhoneill.

  • Funds will cover research, community feedback & inclusion, and delivery of this fully fleshed-out RFP process across three milestones.

• Revelo Intel - $5,000(full) - Community (Marketing and Educational)

  • “Our Performance Reports (called Snapshots) are comprehensive reports that will analyze and contextualize important data points, metrics, and stats around Aave over a 30-day period. These reports enable users to stay updated on Aave’s financial nuances while providing insights into both protocol-specific and subsector trends.”

  • Grant is for Revelo Intel’s comprehensive reports on Aave.

• Laval University - Introduction to Blockchain & DeFi course - $2,500(full) - community (marketing and educational)

  • A professor at Laval University who also works in DeFi will get his students to complete a project that will require interacting with Aave V3 on Arbitrum and calculating their own account healthscores, LTV ratios, liquidation prices, and more by fetching data directly from the V3 contracts and learning by doing.

  • Funds will be distributed to students for them to be able to execute a few transactions.

Ongoing Updates

Since August we have put up our continuation proposal which is being discussed and requests to continue AGD with a few important changes for another six months before proposing a further revamped entity. If you want to participate in the discussion or learn more about where AGD is headed in the next six months, read through the updated version of the proposal which received overwhelming support during the Snapshot vote.

Thanks for reading our August update and for keeping up with the Aave Grant recipients.