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 onĀ Aave Weekly ā”ļø , Aave Grants DAO update š , State of the protocol š° , Ecosystem š§ , Governance āļø, Upcoming events š ,Ā andĀ Water cooler š
Aave Weekly ā”ļø
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
Protocol Usage
Safety Module
You can download the Aave Weekly pdf from the governance forum.
Aave Grants DAO update š
- 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 -Ā @HelloShreyasĀ andĀ @_alekslarsen
- The proposal to renew Aave Grants is currently live, look out for on-chain vote soon
- Check out the list of high priority RFPsĀ 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 -Ā @StaniKulechovĀ andĀ @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 atĀ linen.appĀ for a chance to win up to $25k in prizes
@AlexisMasseronĀ fromĀ @JellyFi_Eth
- 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 š
@crypto_janiceĀ fromĀ @Entropyfi
- 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 fromĀ @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 š
- SharedĀ a proposal to build their push notification system directly into the Aave front endĀ to help remove the friction of monitoring their position
Updates from the Community:
@cjhtechĀ andĀ @revrfgĀ fromĀ @atlantis0xĀ | 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
@sepu85Ā fromĀ @gooddollarorg
- 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 -Ā see their proposal for Aave
State of the protocol š°
- After a late vote, the temperature check to determine which license to release V3 under swung in favour of 'Business License' while 'MIT License' was leading for the majority of time the vote was open.Ā @GuardAOR goes deep on what this means if readers want to learn moreĀ š»
- Gelato's proposal toĀ Make the AMM Market Great AgainĀ went live so users can now add G-UNI DAI/USDC and G-UNI USDC/USDTĀ as collateral in the Aave v2 AMM Market
- Discussions are happening aroundĀ the next iteration of Aavenomics, including implementing a veCRV model
- HAL shared a proposal toĀ add their notification system to the Aave UI
Ecosystem š§
- JellyFi released aĀ new website sharing what they have been working on for the past few monthsĀ and announced aĀ $4.4m raise to continue bringing uncollateralized loans to DeFiĀ š
- Kakashi from Symphony FinanceĀ teased their redesigned interfaceĀ šµ
- The second round ofĀ EntropyFi's $ERP mining pool for $GHST and Aavegotchi holders is live
- Stakeall.FinanceĀ went live with theirĀ one-stop DeFi platform for staking allowing users to maximize staking returns
- Solace recapped a busy weekĀ including new listings, new hires, and their upcoming DeFi coverage marketplace
- Interacting with Aave was part of theĀ recent Polygon Scavenger Hunt from Flipside Crypto
- The Centrifuge team had aĀ Q&A on how the first permissioned market for real-world assets built on Aave
- Instadapp announcedĀ an Aave debt migration bridge between Ethereum and PolygonĀ š
Governance āļø
On-chain votes:
- Add G-UNI to Aave V2 AMM MarketĀ |Ā Governance discussionĀ | The proposal to add Gelatoās G-UNI DAI/USDC and G-UNI USDC/USDT pools as collateral to Aaveās AMM market passed ā
Snapshot votes:
- Certora Continuous Formal Verification for Governance and Aave CommunityĀ |Ā Governance discussionĀ | š³ Voting is live until December 20th
- Under what license the have protocol should be released?Ā |Ā Governance discussionĀ | Final result: Business License 55.44% (387.75k AAVE), MIT 44.28% (309.69k AAVE)
Other discussions:
- Can we introduce some incentives/utility for holding AAVE token?
- Aave Grants Update and Renewal
- Add HAL push-in notification system on Aave
- Add V2 Market assets to Polygon Market that are relevant to Polygon Network
- Introducing Aave V3
Upcoming Events š
- DefiConĀ - December 18 - 19, 2022 š„³
- ETHDenverĀ - February 11 - 20, 2022
- Stani will be speaking atĀ PermissionlessĀ (May 17 - 19, 2022) andĀ CFC St. MoritzĀ (January 12 - 14, 2022)
Water coolerĀ š
Stani and Emilio flexed the power of eMode coming in v3 - helloĀ 98% LTVĀ andĀ 1.03 Health FactorsĀ š