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December 13, 2021 - CC6, Business License Favoured in Snapshot Vote, the Next Iteration of Aavenomics, and More

A recap of the Aave ecosystem, December 6th to December 12th 2021

For anyone who is excited about what will be built on top of Aave v3, featuring coverage on Aave Weekly ⚡️ , Aave Grants DAO update 🏗 , State of the protocol 📰 , Ecosystem 🧉 , Governance ⚖️, Upcoming events 📆 , and Water cooler 🆒

Aave Weekly ⚡️

The Aave Weekly Newsletter brings readers insights on protocol liquidity, income and other performance metrics.

The Aave Protocol closes week 50 of 2021 with $25.4 billion of liquidity:

  • 44.2% Utilisation, generating $9.9m of estimated interest for depositors
  • $94m of Flash Loan volume, generating $83k of fees for depositors
  • $7.0m liquidated, generating $501k of fees to liquidators
  • $1.6m for the ecosystem collectors now holding $36.7m
  • $12.0m generated by the protocol this week
  • With an additional $1.9m $StkAAVE, $3.5m $WMATIC & $2.4m $WAVAX distributed
    • at the weekly close price*Polygon figures are approximated due to the Graph data being out of sync

Protocol Liquidity

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Protocol Usage

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Safety Module

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Aave Grants DAO update 🏗

  • Shout out to all the speakers and attendees at the sixth Aave Grants community call. Keep reading for an overview from each speaker. (Note: any omissions or errors are from the author).

Updates from Aave Grants - @HelloShreyas and @_alekslarsen

  • The proposal to renew Aave Grants is currently live, look out for on-chain vote soon
  • Check out the list of high priority RFPs including:
    • a community owned and fully featured governance interface
    • the Developers DAO who will, over time, take over full development of smart contracts and other protocol features
    • any proposals that bring stable coin growth to Aave or other integrations

Updates from Aave core team - @StaniKulechov and @The3D_

  • Aave v3 is nearing the finish line. The conversation around which code licensing to use is underway, five audits are happening in parallel for formal verification, and the front end is being adopted to support the new functionality
  • Once the licensing vote happens, the code base can be released and the bug bounty can begin
  • There have been many community led proposals to iterate on the current version of the protocol including Gelato adding G-UNI to the AMM Market, proposals to list ENS and stETH, and refreshing the available collateral on Polygon

Updates from grant recipients:

  • Next gen self custody wallet utilizing gnosis safe multisigs focused on bringing the next billion users to DeFi a more secure and user friendly design
  • Join the waitlist at linen.app for a chance to win up to $25k in prizes
  • Capital-efficient DeFi lending protocol that enables crypto loans without collateral
  • There is no idle capital because any capital not loaned out is earning interest through Aave
  • Raised a seed round two months ago and are aiming to launch in Q1 after getting the green light from auditors 👀
  • Making earning yield fun by allowing users to stake stable coins and make predictions on different asset prices to earn yield
  • An exclusive staking pool for $GHST and Aavegotchi holders is currently live - users can earn yield and their governance token ($ERP) which will be needed to play prediction games once v2 launches in 2022

Manlio from @HAL_Team

  • Bridging the gap between blockchains and web2 by making it easy to connect centralized and decentralized protocols
  • Aave has one of the most active communities in terms of triggers executed - mainly for position monitoring (Health factor, borrow/lend rates)
  • Avalanche integration coming soon 👀
  • Shared a proposal to build their push notification system directly into the Aave front end to help remove the friction of monitoring their position

Updates from the Community:

@cjhtech and @revrfg from @atlantis0x | Website

  • Building an accessible and community owned web3 metaverse with social, gaming and education all in one
  • They integrate web3 or DeFi applications in a novel way to gamify the process of onboarding new users e.g. users can walk into the Aave Bank Building and learn about the protocol while getting help making their first deposit and in the future these quests could be incentivized
  • Currently building the next version called Atlantis City Alpha that could include an upgraded Aave Bank, Aave Grants DAO Clubhouse, and even Aave City as a token gated community
  • UBI protocol aiming to include the next 100 million people into crypto and DeFi by lowering the entry barrier which is have the capacity to save
  • Launching v2 where DAOs can stake part of their treasury to contribute to UBI distribution - see their proposal for Aave

State of the protocol 📰

Ecosystem 🧉

Governance ⚖️

On-chain votes:

Snapshot votes:

Other discussions:

Upcoming Events 📆

Water cooler 🆒

Stani and Emilio flexed the power of eMode coming in v3 - hello 98% LTV and 1.03 Health Factors 👀