Wildfiredao.ethWildfire Gov Update 8/26/22
DeFiAave Proposal; [ARC] Risk Parameter Updates for Ethereum Aave v2 MarketThis ARC proposes suspending deposits, disabling borrowing, and sending 100% of the interest paid by FEI borrowers to the Reserve Factor in reaction to the Tribe DAO's intention to reach a terminal state.The TRIBE governance token and the DAO's assets are being dissolved by Tribe DAO. Due to this, FEI will be backed by DAI 1:1 and redeemable at 1FEI:1DAI. Tribe DAO is entering a terminal condition, and the FE...
Wildfiredao.ethWildfire Gov Update 10/18/22
DeFiAave Proposal; Add TRYB to Aave V3 on Avalanche Network, Isolation ModeBiLira would like to onboard TRYB. This AIP lists BiLira (TRYB) on AAVE V3, Avalanche Network, Isolation Mode, the only 1:1 Turkish Lira-backed stablecoin.The full-reserve stable cryptocurrency BiLira (TRYB) is built on the Ethereum blockchain and available on 6 blockchains. It is secured, collateralized 1:1, and ERC-20 token compliant.TRYB (BiLira) is Aave's good borrowing and collateral asset.Aave will get more ...
Wildfiredao.ethWildfire Gov Update 8/12/22
DeFiAave Proposal; ARC: Add OP as Collateral to AAVE v3The objective of the proposal is to add the OP token to Aave V3 on Optimism as a collateral asset. As the pool's initial liquidity is bootstrapped, the Optimism Foundation may additionally provide incentives.Optimism is an L2 scaling solution that will be introduced by the end of 2021 and is EVM equal. Currently, optimism supports more than 100 dapps and $500 million in on-chain value. Having already saved its customers over $1B in g...
Wildfiredao.ethWildfire Gov Update 8/26/22
DeFiAave Proposal; [ARC] Risk Parameter Updates for Ethereum Aave v2 MarketThis ARC proposes suspending deposits, disabling borrowing, and sending 100% of the interest paid by FEI borrowers to the Reserve Factor in reaction to the Tribe DAO's intention to reach a terminal state.The TRIBE governance token and the DAO's assets are being dissolved by Tribe DAO. Due to this, FEI will be backed by DAI 1:1 and redeemable at 1FEI:1DAI. Tribe DAO is entering a terminal condition, and the FE...
Wildfiredao.ethWildfire Gov Update 10/18/22
DeFiAave Proposal; Add TRYB to Aave V3 on Avalanche Network, Isolation ModeBiLira would like to onboard TRYB. This AIP lists BiLira (TRYB) on AAVE V3, Avalanche Network, Isolation Mode, the only 1:1 Turkish Lira-backed stablecoin.The full-reserve stable cryptocurrency BiLira (TRYB) is built on the Ethereum blockchain and available on 6 blockchains. It is secured, collateralized 1:1, and ERC-20 token compliant.TRYB (BiLira) is Aave's good borrowing and collateral asset.Aave will get more ...
Wildfiredao.ethWildfire Gov Update 8/12/22
DeFiAave Proposal; ARC: Add OP as Collateral to AAVE v3The objective of the proposal is to add the OP token to Aave V3 on Optimism as a collateral asset. As the pool's initial liquidity is bootstrapped, the Optimism Foundation may additionally provide incentives.Optimism is an L2 scaling solution that will be introduced by the end of 2021 and is EVM equal. Currently, optimism supports more than 100 dapps and $500 million in on-chain value. Having already saved its customers over $1B in g...
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DeFi
Aave Proposal; [ARFC] CRV Interest Rate Curve Upgrade
A proposal to update the CRV interest rate parameters on the Aave Ethereum v2, Ethereum v3 (when deployed), Polygon v3, and Polygon v2 Liquidity Pools.
The Polygon v3 deployment has a 100% CRV Supply Cap, 7.18% borrowing costs, 44.48% utilization, and 45% Uoptimal value.
This proposal aims to enhance the CRV Supply Cap on Polygon v3 deployment, improve liquidity pool capital efficiency, and boost CRV reserve revenue.
Aave lost money from persistent borrowing demand because the Interest Rate Parameters need to account for CRV's alternate uses.
Llama anticipates CRV borrowers to continue borrowing because of veTokenomics' many yield potential.
This suggestion raises the Uoptimal parameter from 45% to 80%, boosting operational reserve capital efficiency.
Aave Proposal; [ARC] Interest Rate Curve Changes for Aave V2 ETH
A proposal to make parameter changes on Aave V2 ETH.
Aave's interest rate curves for many assets haven't changed in years, and some have never been updated.
Gauntlet has reviewed Aave assets and found ways to alter parameters for particular assets to benefit the protocol due to crypto market developments.
Among other factors, there are two primary reasons to adjust an interest rate curve:
Mitigate the risk of 100% utilization in a pool.
Build reserves via protocol revenue to cover insolvencies or other expenses in the future.
Wildfire Stance: Supporting this proposal indicates that Wildfire wants to play a big part in the development of the protocol and will also help generate revenue Aave while reducing risks.
Aave Proposal; Enable Search by UNS + ENS Domains
Unstoppable Domains offers web3 domains that can replace wallet addresses for crypto transactions.
With 3M domains registered, 300+ coins/tokens supported, and an ever-growing ecosystem of compatible apps, Unstoppable Domains support will further minimize friction in attracting new AAVE users, increasing token value.
The proposed integration would add Unstoppable Domains as an input option alongside ENS in the watch-only mode.
Proposed integration implemented in https://github.com/aave/interface/pull/1243
AAVE would benefit from Unstoppable's evergreen presence on all platforms. Unstoppable teams have agreed to help with marketing to increase AAVE usage.
Wildfire Stance: Since this proposal significantly increases the ease of use on Aave, Wildfire would support this proposal.
Element Proposal; EGP-20: Onboard yvCurve-agEUR-EUROC-f
This proposal is a temperature check for onboarding yvCurve-agEUR-EUROC-f to Element Finance.
The Element team is discussing a Yearn vault-based fixed-rate market for Ethereum's largest Euro stablecoin pool.
Element Finance opposes Euro-denominated strategies. All Element Finance pools use volatile crypto assets or USD-pegged stablecoins to calculate their APY.
A fixed-yield market on top of yvCurve-agEUR-EUROC-f will be valued by Euro native yield seekers and long-term depositors seeking yield from their Euro holdings.
This new asset would have a six-month term commencing in late January and ending around July 31, 2023.
Element Proposal; Market-making proposal for ELFI by Prycto
Prycto is proposing to support ELFI launch as the official market-maker on behalf of Element Finance DAO.
The proposal presents a market-making agreement to the element finance DAO community to increase ELFI token liquidity and tradability across DeFi and CeFi.
The terms for such a deal require a one-year inventory loan of 1,000,000 ELFI tokens backed by two call options:
Call option for 500,000 ELFI with a strike price of $1.
Call option for 500,000 ELFI token with a strike price of $1.5.
ELFI traders will obtain low-slippage trading execution on all major centralized exchanges and DeFi using the tokens to quote on both sides.
Public Goods
ENS Proposal; Funding Request - ENS Ecosystem Working Group
This proposal seeks $935,000 worth of USDC and 254 ETH (~$406,000 at the time of writing) to fund the ENS Ecosystem Working Group
ENS EWG is responsible for improving the ENS Ecosystem by funding projects that are related to ENS
The majority of this funding will be:
Hackathons - $230,000 & $16,000 of ETH
Grants - $105,000 & $48,000 of ETH
Layer 2 - $105,000
Builders - $100,000 & $24,000 of ETH
Support - $90,000 & $8,000 of ETH
Wildfire Stance: Wildfire feels as if these funds are going to be allocated correctly and therefore support this proposal.
ENS Proposal; Funding Request - MetaGov Working Group
This proposal seeks $364,000 worth of USDC and 125 ETH and 3,500 (~$200,000 and $52,500 respectively at the time of writing) to fund the MetaGov Working Group
The MWG supports the governance processes of the DAO and manages the infrastructure of the DAO
The majority of this funding will be:
Steward + Secretary Compensation - $184,000 & $52,500 of ENS
Infrastructure & Tooling
Pokt Proposal; Foundation Director Change
This is a quick Proposal that seeks to remove Nelson Ryan and replace him with a company that is solely owned by him (Glacier Research Pty Ltd)
The reasoning for this switch is for tax and employment purposes due to the international standing of the Pocket Foundation
The reason there is even a proposal is that this would be a new entity even though it is solely owned by Nelson Ryan
Wildfire Stance: Wildfire does not see any potential issue with this switch.
DeFi
Aave Proposal; [ARFC] CRV Interest Rate Curve Upgrade
A proposal to update the CRV interest rate parameters on the Aave Ethereum v2, Ethereum v3 (when deployed), Polygon v3, and Polygon v2 Liquidity Pools.
The Polygon v3 deployment has a 100% CRV Supply Cap, 7.18% borrowing costs, 44.48% utilization, and 45% Uoptimal value.
This proposal aims to enhance the CRV Supply Cap on Polygon v3 deployment, improve liquidity pool capital efficiency, and boost CRV reserve revenue.
Aave lost money from persistent borrowing demand because the Interest Rate Parameters need to account for CRV's alternate uses.
Llama anticipates CRV borrowers to continue borrowing because of veTokenomics' many yield potential.
This suggestion raises the Uoptimal parameter from 45% to 80%, boosting operational reserve capital efficiency.
Aave Proposal; [ARC] Interest Rate Curve Changes for Aave V2 ETH
A proposal to make parameter changes on Aave V2 ETH.
Aave's interest rate curves for many assets haven't changed in years, and some have never been updated.
Gauntlet has reviewed Aave assets and found ways to alter parameters for particular assets to benefit the protocol due to crypto market developments.
Among other factors, there are two primary reasons to adjust an interest rate curve:
Mitigate the risk of 100% utilization in a pool.
Build reserves via protocol revenue to cover insolvencies or other expenses in the future.
Wildfire Stance: Supporting this proposal indicates that Wildfire wants to play a big part in the development of the protocol and will also help generate revenue Aave while reducing risks.
Aave Proposal; Enable Search by UNS + ENS Domains
Unstoppable Domains offers web3 domains that can replace wallet addresses for crypto transactions.
With 3M domains registered, 300+ coins/tokens supported, and an ever-growing ecosystem of compatible apps, Unstoppable Domains support will further minimize friction in attracting new AAVE users, increasing token value.
The proposed integration would add Unstoppable Domains as an input option alongside ENS in the watch-only mode.
Proposed integration implemented in https://github.com/aave/interface/pull/1243
AAVE would benefit from Unstoppable's evergreen presence on all platforms. Unstoppable teams have agreed to help with marketing to increase AAVE usage.
Wildfire Stance: Since this proposal significantly increases the ease of use on Aave, Wildfire would support this proposal.
Element Proposal; EGP-20: Onboard yvCurve-agEUR-EUROC-f
This proposal is a temperature check for onboarding yvCurve-agEUR-EUROC-f to Element Finance.
The Element team is discussing a Yearn vault-based fixed-rate market for Ethereum's largest Euro stablecoin pool.
Element Finance opposes Euro-denominated strategies. All Element Finance pools use volatile crypto assets or USD-pegged stablecoins to calculate their APY.
A fixed-yield market on top of yvCurve-agEUR-EUROC-f will be valued by Euro native yield seekers and long-term depositors seeking yield from their Euro holdings.
This new asset would have a six-month term commencing in late January and ending around July 31, 2023.
Element Proposal; Market-making proposal for ELFI by Prycto
Prycto is proposing to support ELFI launch as the official market-maker on behalf of Element Finance DAO.
The proposal presents a market-making agreement to the element finance DAO community to increase ELFI token liquidity and tradability across DeFi and CeFi.
The terms for such a deal require a one-year inventory loan of 1,000,000 ELFI tokens backed by two call options:
Call option for 500,000 ELFI with a strike price of $1.
Call option for 500,000 ELFI token with a strike price of $1.5.
ELFI traders will obtain low-slippage trading execution on all major centralized exchanges and DeFi using the tokens to quote on both sides.
Public Goods
ENS Proposal; Funding Request - ENS Ecosystem Working Group
This proposal seeks $935,000 worth of USDC and 254 ETH (~$406,000 at the time of writing) to fund the ENS Ecosystem Working Group
ENS EWG is responsible for improving the ENS Ecosystem by funding projects that are related to ENS
The majority of this funding will be:
Hackathons - $230,000 & $16,000 of ETH
Grants - $105,000 & $48,000 of ETH
Layer 2 - $105,000
Builders - $100,000 & $24,000 of ETH
Support - $90,000 & $8,000 of ETH
Wildfire Stance: Wildfire feels as if these funds are going to be allocated correctly and therefore support this proposal.
ENS Proposal; Funding Request - MetaGov Working Group
This proposal seeks $364,000 worth of USDC and 125 ETH and 3,500 (~$200,000 and $52,500 respectively at the time of writing) to fund the MetaGov Working Group
The MWG supports the governance processes of the DAO and manages the infrastructure of the DAO
The majority of this funding will be:
Steward + Secretary Compensation - $184,000 & $52,500 of ENS
Infrastructure & Tooling
Pokt Proposal; Foundation Director Change
This is a quick Proposal that seeks to remove Nelson Ryan and replace him with a company that is solely owned by him (Glacier Research Pty Ltd)
The reasoning for this switch is for tax and employment purposes due to the international standing of the Pocket Foundation
The reason there is even a proposal is that this would be a new entity even though it is solely owned by Nelson Ryan
Wildfire Stance: Wildfire does not see any potential issue with this switch.
DAO Sponsorship - $60,000 & $16,000 of ETH
Governance - $100,000 & $48,000
Wildfire Stance: Wildfire feels as if these funds are going to be allocated correctly and therefore support this proposal.
ENS Proposal; Funding Request - Public Goods Working Group
This proposal seeks $250,000 worth of USDC and 50 ETH (~$80,000 at the time of writing) to fund the Public Goods Working Group
The PGWP uses funds to support people and projects that provide public goods to the web3 ecosystem
The use of this funding will be:
Large Grants - $150,000
Small Grants - $64,000 of ETH
Rapid Grants - $50,000 & $16,000
Gitcoin Grants - $50,000
Wildfire Stance: Wildfire feels as if these funds are going to be allocated correctly and therefore support this proposal.
DAO Sponsorship - $60,000 & $16,000 of ETH
Governance - $100,000 & $48,000
Wildfire Stance: Wildfire feels as if these funds are going to be allocated correctly and therefore support this proposal.
ENS Proposal; Funding Request - Public Goods Working Group
This proposal seeks $250,000 worth of USDC and 50 ETH (~$80,000 at the time of writing) to fund the Public Goods Working Group
The PGWP uses funds to support people and projects that provide public goods to the web3 ecosystem
The use of this funding will be:
Large Grants - $150,000
Small Grants - $64,000 of ETH
Rapid Grants - $50,000 & $16,000
Gitcoin Grants - $50,000
Wildfire Stance: Wildfire feels as if these funds are going to be allocated correctly and therefore support this proposal.
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