A recap of the Aave ecosystem, October 18th to October 24th 2021
For rAAVErs, anons, ghosts and anyone else who wants to keep up with Aave, featuring coverage on Aave Weekly ⚡️, Aave Grants DAO update 🏗 , State of the protocol 📰 , Ecosystem 🧉 , Governance ⚖️, Mark your calendar 📆 , and Water cooler 🆒
New section alert: now featuring Risk 🔎 with updates on protocol risk with the help of our frens at Gauntlet.
Aave Weekly ⚡️
The Aave Weekly Newsletter brings readers insights on protocol liquidity, income and other performance metrics.
The Aave Protocol closes week 43 of 2021 with $31 billion of liquidity:
- 38.6% Utilisation, generating $13.7m of estimated interest for depositors
- $65.6m of Flash Loan volume, generating $58k of fees for depositors
- $1.9m liquidated, generating $95k of fees to liquidators
- $1.6m for the ecosystem collectors now holding $28.2m
- $15.4m generated by the protocol this week
- With an additional $4.5m $StkAAVE, $2.5m $WMATIC & $6.7m $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:
Details can be found in this ARC
This week's set of parameter updates seeks to maintain the overall risk tolerance of the protocol while making risk trade-offs between specific assets. For more detail on Gauntlet’s first two months of recommendations and their impact, please see Gauntlet’s Monthly Risk Report.
No significant changes in volatility or liquidity were observed in most assets. However, the collateral usage of ZRX on Aave almost doubled, so that is an asset we will monitor during the upcoming period.
Aave Grants DAO update 🏗
Nine New Grantees. We are excited to announce the latest round of grant recipients. Congrats and welcome to the Aave Grants fam, we are thrilled to have you building in the Aave ecosystem 👻👻
Merv | @MervTech
- Creates institutional-grade position monitoring for Aave and bringing Aave to at least 10 new institutions such as crypto funds, trad funds, financial corps, or non-financial corps
Bankless BR DAO | @BanklessBR
- Translates Bankless articles for Bankless DAO "Media Node" to Portuguese, and creates DAO, Crypto, Solidity and Defi educational material for Brazil.
Cred Protocol | @cred_protocol
- Quantifies reputation on the blockchain and enables under-collateralized lending by correlating wallet history with expectations of future cash flow to predict the probability of liquidation.
HAL.xyz | @HAL_team
- Creates tools that allow protocols to develop trading, governance and compliance tools by connecting Web3 to Web2.
0xStation | @0xSTATION
- Creates a P2P network centered around self-expression, contribution, and values. They create IDs for individuals to express their work and discover others and Terminals for organizations (DAOs and protocols) to build a central hub to attract and engage newcomers and contributors.
Malus Labs | @MalusLabs
- Further develops their decentralized protocol providing 7% peer to peer cashback using stablecoins such as USDC.
Stakeall Finance | @StakeallF
- Develops their one-stop DeFi platform for staking, which allows users to stake to various protocols by utilizing different DeFi legos to maximize the staking returns and minimize the opportunity & gas cost.
EntropyFi | @entropyfi
- Develops their lossless decentralized Gamified Prediction Market on crypto-assets, NFTs, DeFi indexes, and other on/off-chain assets.
DappLooker | @dapplooker
- Building an Aave user retention analytics dashboard for Polygon network.
State of the protocol 📰
Lisbon. From the main stage at ETH Lisbon Stani gave a talk on the (R)evolution of Social Media in Web3. He covered why now is the right time for Aave to build a decentralization social media protocol and what it would mean if users had power and ownership of their content.
Several hackathon projects built on top of Aave including DelegaNFT that uses credit delegation to enable NFTs as collateral, and CredAAVE.
The Aave v3 code is also going making the round so be on the lookout for more updates coming SOON.
Ecosystem 🧉
- Cono.finance is live on mainnet for users to protect their Aave positions from liquidation. Read more in a great feature with Luis and Marc.
- Explore all of the awesome dashboards that Flipside Crypto analysts have been busy making including stablecoin interest rates, liquidity concentration, the top pools by fees earned and more. New bounties too!
- Subscribe and be the first to know about the launch of the RWA Market from Centrifgue
Governance ⚖️
On-chain votes:
- Risk Parameter Updates 2021-10-14 | Governance discussion | As part of Gauntlet's ongoing risk monitoring this AIP changes 9 parameters across 8 Aave V2 assets including LTV, Liquidation Threshold, and Liquidation Bonus
- AIP 41: Institute a Voting Delay Period | Governance Discussion | This proposes increasing the time between AIP submission to voting from zero to two days and did not reach quorum.
Snapshot votes:
- Add stETH on AaveV2 | Governance Discussion | This signals the community's support to list $stETH with a LTV 70% to Aave V2. Adding stETH to platforms like Aave opens up a world of interesting possibilities.
- Should 4 total risk parameters across 3 Aave V2 assets be adjusted? | Governance Discussion | Read more in the Risk 🔎 Section.
Mark your calendar 📆
GalAxie Cup on November 27 and 28, 2021 -Â Register here!
Other events featuring Aavengers:
- @chainyoda on a panel at Cosmoverse - November 5 and 6, 2021
- Stani speaking at Permissionless - May 17 to 19, 2022
Water cooler 🆒
Front end. Who will be the first team to ship a new kickass interface for Aave?
Join the Aavengers:
- Browse RFPs: https://aavegrants.org/Request-for-Proposals-160203ba5d1746daae31588924a6680a
- Chat with the community on Telegram:Â https://t.me/aavegrantsdao
- Join the governance forum:Â https://governance.aave.com
- Learn more about AGD:Â https://aavegrants.org/
- Subscribe to Aave News:
Thanks to Twitter use @Arty3mis for the cover pic!