November 8, 2021 - Aave V3 Announced, Ampleforth AMA, Web3Jam, and More

A recap of the Aave ecosystem, November 1st to November 7th 2021

A newsletter to enjoy with the ENS airdrop, featuring coverage on Aave Weekly ⚡️Risk 🔎 , Aave Grants DAO update 🏗 , State of the protocol 📰 , Ecosystem 🧉 , Governance ⚖️, Mark your calendar 📆 , and Water cooler 🆒Aave Weekly ⚡️

Aave Weekly ⚡️

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

The Aave Protocol closes week 45 of 2021 with $27.1 billion of liquidity:

  • 40.6% Utilisation, generating $10.2m of estimated interest for depositors
  • $141m of Flash Loan volume, generating $125k of fees for depositors
  • $12.7m liquidated, generating $642k of fees to liquidators
  • $1.2m for the ecosystem collectors now holding $29m
  • $12.1m generated by the protocol this week
  • With an additional $4.6m $StkAAVE, $3.4m $WMATIC & $7.8m $WAVAX distributed
    • at the weekly close price

Protocol Liquidity


Protocol Usage


Safety Module


Risk 🔎

In case you haven’t seen it, check out the Aave Risk Dashboard by Gauntlet at gov.gauntlet.network/aave. The Gauntlet team is particularly keen on iterating on this dashboard for the community and would love feedback via this Google Form.

Risk Parameter Updates:

This week, AIP-44 passed and was executed. The AIP temporarily disables borrow for xSUSHI and DeFi Pulse Index (DPI), and freezes deposits, borrows, and rate swaps for UNI/BAL AMM Markets. Gauntlet’s analysis shows that any attempt to manipulate xSUSHI on the Aave Protocol would result in losses for the attackers under the current market conditions, but this AIP was proposed as a precautionary measure to mitigate the potential of any future risks.

In addition, this week’s set of parameter updates includes changes to liquidation threshold, loan to value, and liquidation bonus for the five assets below. The ARC for this set of parameter updates can be found here. For more detail on Gauntlet’s first two months of recommendations and their impact, please see Gauntlet’s Q2 Dynamic Risk Parameters and Monthly Risk Report.


Aave Grants DAO update 🏗

Vote for the best POAP. Calling all AGD Community Call and rAAVE attendees (with proof via POAP!) - you're eligible to vote for the winner of the Aave Snapshot POAP contest. Please browse the designs here and vote if you hold one of the eligible POAPs.

Ampleforth AMA. Join us for a live AMA with the @AmpleforthOrg team this Tuesday in the main Aave Discord #ecosystem channel. Have all your questions about lending and borrowing AMPL with Aave answered. Have a question? Reply here or DM @AaveGrants!

Forta Agent Contest. The latest @FortaProtocol Agent Contest is on now until November 10th. Interested developers can help protect the Aave protocol by choosing from five challenges for the chance to win up to $5000.

Web3Jam. We are sponsoring @ETHGlobal's last event of the year, Web3Jam from November 12th to November 24th. Apply now to join the virtual community hackathon and help build a web where users control their own data and identity. There are over $100k in prizes including $4000 in $AAVE.

Sacred AMA. Thank you to Aave grant recipient Sacred for joining the Aave community for an AMA where they chatted about all things privacy including what they are building, their future roadmap, and multi-chain privacy. Join their Discord to learn about Sacred or geek out on privacy conversations. Experience earning yield while transacting privately on Kovan and submit any feedback to their Feedback Bounty Program.

State of the protocol 📰

Aave V3 was announced and a Snapshot vote is currently live to get the community's support to deploy V3. New features and upgrades include: Portal, High Efficiency, Isolation Mode, risk management improvements, and L2-specific features. Read through the whole post to get more details on what is in store and next steps. Throughout the week, more details and insights emerged like:

What are you most looking forward to with Aave V3?

Ecosystem 🧉

Governance ⚖️

On-chain votes:

Snapshot votes:

Other posts to watch:

Mark your calendar 📆

Water cooler 🆒

Aave V3 good. Don't overthink this one anon.

Join the Aavengers: