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; Enable agEUR as collateral in isolation mode on V3 on Polygon
Angle Protocol is a decentralized stablecoin protocol primarily designed to be both over-collateralized and capital-efficient.
The protocol has begun by releasing agEUR, a stablecoin for the Euro. With a supply of 48.7 million, a TVL in the protocol of $87 million, and an average daily volume > $4 million, this stablecoin has grown to be one of the largest on the market.
Currently, only the Ethereum mainnet can be used to issue agEUR, however, it can be bridged across many different networks. The deployment of the protocol on Polygon would enable anyone to natively mint agEUR, instead of having to spin up a proposal every time anyone wants to mint.
The fact that agEUR is already supported in efficiency mode with other stablecoins may theoretically allow consumers to use leverage when trading on the Forex market or to more easily arbitrage stablecoins at the peg.
Borrowing using agEUR as collateral is one thing that is not supported right now. The ability to long the € and short the $ through agEUR would be made available, which is a use case that is not present anywhere else in DeFi besides Aave.
Aave Discussion; Introducing GHO
Aave is proposing to the DAO the introduction of a native decentralized, collateral-backed stablecoin, GHO, pegged to USD.
GHO will be minted by the community as a decentralized stablecoin on the Ethereum Mainnet. A user must provide collateral at a certain collateral ratio, much like with any borrowing on the Aave Protocol, in order to mint GHO.
Accordingly, the GHO protocol destroys a user's GHO when that user repays a borrow position (or is liquidated). Instead of the customary reserve factor that is taken into account when users borrow other assets, all interest payments made by GHO minters would be directly deposited to the Aave DAO treasury.
Users can generate GHO using a variety of assets that are currently supported by the Aave Protocol while maintaining collateralization and lowering risk by using isolation mode. Caps on borrowing and supply also help to lower risk.
Balancer Discussion; Kill CREAM/WETH Gauge
This is a proposal to kill the CREAM/WETH Gauge. Since the CREAM/WETH gauge was approved on May 24th, Balancer has made about $12,000 in protocol fees while spending about $1.55 million in BAL emissions. The majority of BAL emissions are received by the CREAM gauge, which pays almost no fees to the protocol.
As market forces are allowed time to act, long-term solutions like the newly passed "core pools" proposal should help to remedy this imbalance, yet even in the best-case scenario, the CREAM gauge will continue to be quite big for the foreseeable future.
The finance needs of the Balancer ecosystem are substantial and currently, significantly outweigh our 30-day revenue generation. The presence of the CREAM gauge currently poses the biggest obstacle to Balancer becoming sustainable. It is appropriate to put this to a vote because there is sufficient support in the neighborhood to get rid of the gauge.
Public Goods
Gitcoin Discussion; Rethinking FDD
This discussion poses questions about how to stop fraud and allocate capital in the most efficient way possible.
A part of the thesis is to promote the “good” in the DAO:
“Good” includes usefulness, fairness, inclusiveness, and sustainability.
Surveys could be made to measure what the DAO sees as good and build off of said surveys
Another part is to minimize the “bad”:
The first part of bad would be the inefficiencies within the grant reviewing process.
This can be handled internally by an FDD team that has an optimal incentivization structure (to be made in the future).
The second part is capital capture by Sybils and airdrop farmers.
This needs to be further explored.
More questions need to be answered on this subject like what are the sensible KPIs FDD can define to track its own progress?
Infrastructure & Tooling
Rocket Pool Tempcheck; Proposal to turn off 32 (Full) Node Operator Deposits
This proposal was set forward because a NO queue exists as a full mini-pool wheel half mini pools exist (which are always placed ahead of full mini-pools).
This means that the full mini-pools would advance at an unpredictable rate and even could be stalled for an indefinite amount of time.
This however has cons like lost opportunity costs for potential node operators in the future in the half mini-pools.
Pokt Tempcheck; POKT Wallet - Chrome and Firefox Extension
This proposal is asking for $207,151 worth of $POKT for updating these features in the web browser extension:
BIP32 Mnemonic Wallet with ED25519 support (one phrase, many addresses)
Add up to 10 sub-addresses to better monitor multiple sources of income/expenses
Add/edit a nickname for each address added to the wallet
Recover wallet with Recovery Phrase
Full-screen mode
Track and view all transactions
One-click access to POKTwatch
One-click locking of the wallet
One-click copy of your wallet address
Creator Economy
SuperRare Proposal; Donate commission from the Modonna x Beeple Mother of Creation auction to non-profits.
This is the aforementioned tempcheck that seeks to donate the commission of the three NFTs, totaling ~55 ETH to charities like:
The Voices of the Children
The City of Joy
Black Mama’s Bail Out
SuperRare Proposal; Swap Tokens between SR and BottoDAO
This is also an aforementioned tempcheck that seeks to:
Swap 1,000,000 $BOTTO tokens for the 30-day avg of $RARE tokens
To diversify both treasuries and align interests
Bankless Discussion; bDAO Contributions to DAO Wicked Problems.
This discussion points out the main ways that Bankless DAO can help other DAO operate.
The main points where bDAO can help are the Contributor Pathway, Idea Pathway, and Sustainability & Growth
Contributor Pathway:
A good metaphor for this would be street signs that lead you where to go in the web3 world.
DeFi
Aave Proposal; Enable agEUR as collateral in isolation mode on V3 on Polygon
Angle Protocol is a decentralized stablecoin protocol primarily designed to be both over-collateralized and capital-efficient.
The protocol has begun by releasing agEUR, a stablecoin for the Euro. With a supply of 48.7 million, a TVL in the protocol of $87 million, and an average daily volume > $4 million, this stablecoin has grown to be one of the largest on the market.
Currently, only the Ethereum mainnet can be used to issue agEUR, however, it can be bridged across many different networks. The deployment of the protocol on Polygon would enable anyone to natively mint agEUR, instead of having to spin up a proposal every time anyone wants to mint.
The fact that agEUR is already supported in efficiency mode with other stablecoins may theoretically allow consumers to use leverage when trading on the Forex market or to more easily arbitrage stablecoins at the peg.
Borrowing using agEUR as collateral is one thing that is not supported right now. The ability to long the € and short the $ through agEUR would be made available, which is a use case that is not present anywhere else in DeFi besides Aave.
Aave Discussion; Introducing GHO
Aave is proposing to the DAO the introduction of a native decentralized, collateral-backed stablecoin, GHO, pegged to USD.
GHO will be minted by the community as a decentralized stablecoin on the Ethereum Mainnet. A user must provide collateral at a certain collateral ratio, much like with any borrowing on the Aave Protocol, in order to mint GHO.
Accordingly, the GHO protocol destroys a user's GHO when that user repays a borrow position (or is liquidated). Instead of the customary reserve factor that is taken into account when users borrow other assets, all interest payments made by GHO minters would be directly deposited to the Aave DAO treasury.
Users can generate GHO using a variety of assets that are currently supported by the Aave Protocol while maintaining collateralization and lowering risk by using isolation mode. Caps on borrowing and supply also help to lower risk.
Balancer Discussion; Kill CREAM/WETH Gauge
This is a proposal to kill the CREAM/WETH Gauge. Since the CREAM/WETH gauge was approved on May 24th, Balancer has made about $12,000 in protocol fees while spending about $1.55 million in BAL emissions. The majority of BAL emissions are received by the CREAM gauge, which pays almost no fees to the protocol.
As market forces are allowed time to act, long-term solutions like the newly passed "core pools" proposal should help to remedy this imbalance, yet even in the best-case scenario, the CREAM gauge will continue to be quite big for the foreseeable future.
The finance needs of the Balancer ecosystem are substantial and currently, significantly outweigh our 30-day revenue generation. The presence of the CREAM gauge currently poses the biggest obstacle to Balancer becoming sustainable. It is appropriate to put this to a vote because there is sufficient support in the neighborhood to get rid of the gauge.
Public Goods
Gitcoin Discussion; Rethinking FDD
This discussion poses questions about how to stop fraud and allocate capital in the most efficient way possible.
A part of the thesis is to promote the “good” in the DAO:
“Good” includes usefulness, fairness, inclusiveness, and sustainability.
Surveys could be made to measure what the DAO sees as good and build off of said surveys
Another part is to minimize the “bad”:
The first part of bad would be the inefficiencies within the grant reviewing process.
This can be handled internally by an FDD team that has an optimal incentivization structure (to be made in the future).
The second part is capital capture by Sybils and airdrop farmers.
This needs to be further explored.
More questions need to be answered on this subject like what are the sensible KPIs FDD can define to track its own progress?
Infrastructure & Tooling
Rocket Pool Tempcheck; Proposal to turn off 32 (Full) Node Operator Deposits
This proposal was set forward because a NO queue exists as a full mini-pool wheel half mini pools exist (which are always placed ahead of full mini-pools).
This means that the full mini-pools would advance at an unpredictable rate and even could be stalled for an indefinite amount of time.
This however has cons like lost opportunity costs for potential node operators in the future in the half mini-pools.
Pokt Tempcheck; POKT Wallet - Chrome and Firefox Extension
This proposal is asking for $207,151 worth of $POKT for updating these features in the web browser extension:
BIP32 Mnemonic Wallet with ED25519 support (one phrase, many addresses)
Add up to 10 sub-addresses to better monitor multiple sources of income/expenses
Add/edit a nickname for each address added to the wallet
Recover wallet with Recovery Phrase
Full-screen mode
Track and view all transactions
One-click access to POKTwatch
One-click locking of the wallet
One-click copy of your wallet address
Creator Economy
SuperRare Proposal; Donate commission from the Modonna x Beeple Mother of Creation auction to non-profits.
This is the aforementioned tempcheck that seeks to donate the commission of the three NFTs, totaling ~55 ETH to charities like:
The Voices of the Children
The City of Joy
Black Mama’s Bail Out
SuperRare Proposal; Swap Tokens between SR and BottoDAO
This is also an aforementioned tempcheck that seeks to:
Swap 1,000,000 $BOTTO tokens for the 30-day avg of $RARE tokens
To diversify both treasuries and align interests
Bankless Discussion; bDAO Contributions to DAO Wicked Problems.
This discussion points out the main ways that Bankless DAO can help other DAO operate.
The main points where bDAO can help are the Contributor Pathway, Idea Pathway, and Sustainability & Growth
Contributor Pathway:
A good metaphor for this would be street signs that lead you where to go in the web3 world.
Import and export of private keys
Access to native Pocket Network Wallet
A picture of what it would look like as an extension can be found on the tempcheck.
Atm, it’s hard to navigate how to get started and how to make a sustainable living in web3 but bDAO can help ease this process for many DAOs.
Idea Pathway:
The best way to think of this is how to grow an idea and take it from point A to point B.
Coming up with an idea is just the first part, what follows is building a team around it, creating a budget, asking for funding, etc.
bDAO has a good infrastructure for this that would be more seamless than a web2 company due to the lack of bureaucracy.
Sustainability & Growth:
By this metric, bDAO can help facilitate both qualitative and quantitative metrics and KPIs that will help a DAO grow and thrive.
Import and export of private keys
Access to native Pocket Network Wallet
A picture of what it would look like as an extension can be found on the tempcheck.
Atm, it’s hard to navigate how to get started and how to make a sustainable living in web3 but bDAO can help ease this process for many DAOs.
Idea Pathway:
The best way to think of this is how to grow an idea and take it from point A to point B.
Coming up with an idea is just the first part, what follows is building a team around it, creating a budget, asking for funding, etc.
bDAO has a good infrastructure for this that would be more seamless than a web2 company due to the lack of bureaucracy.
Sustainability & Growth:
By this metric, bDAO can help facilitate both qualitative and quantitative metrics and KPIs that will help a DAO grow and thrive.
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