DeFi

• Aave Proposal; Strategic Investment Part 1 - BAL <> AAVE Token Swap

  • This is a proposal to perform a token swap with Balancer DAO, Based on a 90-day moving average exchange rate of 1 AAVE for 11.8292250604 BAL tokens, Aave DAO will purchase 200,000 BAL tokens for 16907.28 AAVE tokens. The BAL tokens will be added to the mainnet Reserve Factor once the transaction is complete.

  • There is a long history of collaboration between Aave and Balancer. The newly developed Balancer Boosted Pools propel TVL to Aave markets, and the AAVE: ETH (80/20) Balancer V1 pool BPT is accepted within the Aave Safe Module.

  • The veBAL tokens can be used to vote BAL rewards to the newly constructed AAVE: ETH (80/20) Balancer V2 pool once the AAVE: ETH (80/20) Balancer V1 pool has been transferred to Balancer V2 and integrated into Aave's Safety Module.

  • The veBAL can also be utilized to vote BAL awards to Balancer Boosted Pools, which employ Aave markets in the background to generate yield on passively held liquidity.

• Aave Proposal; Sigma Prime - Security Assessment Services for Aave

  • This proposal is a mandate from the Aave community to engage Sigma Prime for continuous security assessment services, The purpose of this proposal is to guarantee that Aave obtains top-notch security assessment services for all planned modifications to its protocols, including crucial improvements like the migration from v2 to v3.

  • For the past 2.5 years, Sigma Prime has been offering security assessment services to Aave, looking at important parts including Aave v2 and v3, as well as several other modifications made to the lending platform.

  • This proposal authorizes payment of the US$ 1,296,000 minimum engagement fee using the following methods:

  • 50 percent of the minimum engagement cost ($648,000) is paid upfront in aUSDC and aUSDT (equally divided, $324,000 each).

  • At the conclusion of the engagement time (12 months), the remaining 50% (US$ 648,000) will be paid via two (2) payment streams in aUSDC and aUSDT (equally split, $324,000 each), with each stream beginning 12 months from now and lasting one second.

  • A later proposal for the remaining sum in 12 months will be made if the maximum fee were to apply to this engagement (i.e at the end of the engagement period).

• Aave Proposal; Risk-Off Framework for the Aave Protocol

  • This is a proposal to design a Risk Off Framework for the Aave Protocol, In the past few weeks, Gauntlet has worked with BGD Labs, Llama, Governance House, and other community stakeholders to come to an understanding of how to best implement the protocol with relation to the tradeoffs between value generation and protection.

  • Reduced liquidation thresholds may have a variety of effects on users. This kind of parameter adjustment may make an account eligible for liquidation, particularly if the account health of the user is low.

  • The user experience of the borrower is negatively impacted by these liquidations, according to BGD, Llama, Governance House, and other community members. Therefore, it is crucial that the community agrees in writing on the desired maximum reduction to the liquidation thresholds per AIP.

• Aave Proposal; Aave V3 Harmony - Freeze Reserves

  • In the wake of the Horizon Bridge attack on Harmony, this ARC offers the community a first step in resolving the current problems with the Aave V3 Market.

  • The Aave Guardian is asked to freeze all reserves on the Aave V3 deployment on Harmony in accordance with this suggestion. By making it impossible to deposit or borrow assets in the Aave V3 Market on Harmony, this step would safeguard users while still enabling debt payments, liquidations, withdrawals, and adjustments to interest rates. Any direct transfers to any of the aToken contracts won't be hampered by freezing the reserves.

  • If approved, this AIP will instruct the Aave Guardian to call the setReserveFreeze() function on each asset in the Aave V3 Market on Harmony with the required parameters. Additionally, approving this AIP will allow for the implementation of new cautions and warnings to inform users attempting to engage with the Aave V3 Market on Harmony, as well as the necessary modifications to the IPFS Aave UI to enable this change (disabling supply and borrowing).

Public Goods

• ENS Discussion; Building on top of ENS

  • This discussion is based on introducing gweiclub.xyz which is being built on top of ENS

  • It acts as a customizable web3 profile that is free and opened sourced

  • It contains features like:

    • Detailed profile

    • User Interactions

    • User Connections

    • More to come

  • It acts almost like an Instagram/Facebook page with NFTs

• Gitcoin Discussion; Introducing Flexible Voting

  • ScopeLfit is a dev team that services clients like:

    • Uniswap

    • Optimism

    • POAP

    • Cozy

  • They introduced Flexible Voting:

    • “An extension to the Governor contracts that enables delegates to split their voting weight across For, Against, and Abstain on any given proposal”

Creator Economy

• Bankless Proposal; Grants Committee Election.

  • This snapshot is for voting in 3 members into the grant committee election, the three with the highest votes will be elected

  • The election will be utilizing weighted voting and more information on the applicants can be found here

  • The members who are up for election are:

    • paul🏴#1559

    • Ap0ll0517🏴#5781

    • jengajojo.eth🏴#5896

    • Bananachain#6171

  • The members stepping down are:

    • Kouros (term limit)

    • Chuck

    • Icedcool (term limit)

DeFi

• Aave Proposal; Strategic Investment Part 1 - BAL <> AAVE Token Swap

  • This is a proposal to perform a token swap with Balancer DAO, Based on a 90-day moving average exchange rate of 1 AAVE for 11.8292250604 BAL tokens, Aave DAO will purchase 200,000 BAL tokens for 16907.28 AAVE tokens. The BAL tokens will be added to the mainnet Reserve Factor once the transaction is complete.

  • There is a long history of collaboration between Aave and Balancer. The newly developed Balancer Boosted Pools propel TVL to Aave markets, and the AAVE: ETH (80/20) Balancer V1 pool BPT is accepted within the Aave Safe Module.

  • The veBAL tokens can be used to vote BAL rewards to the newly constructed AAVE: ETH (80/20) Balancer V2 pool once the AAVE: ETH (80/20) Balancer V1 pool has been transferred to Balancer V2 and integrated into Aave's Safety Module.

  • The veBAL can also be utilized to vote BAL awards to Balancer Boosted Pools, which employ Aave markets in the background to generate yield on passively held liquidity.

• Aave Proposal; Sigma Prime - Security Assessment Services for Aave

  • This proposal is a mandate from the Aave community to engage Sigma Prime for continuous security assessment services, The purpose of this proposal is to guarantee that Aave obtains top-notch security assessment services for all planned modifications to its protocols, including crucial improvements like the migration from v2 to v3.

  • For the past 2.5 years, Sigma Prime has been offering security assessment services to Aave, looking at important parts including Aave v2 and v3, as well as several other modifications made to the lending platform.

  • This proposal authorizes payment of the US$ 1,296,000 minimum engagement fee using the following methods:

  • 50 percent of the minimum engagement cost ($648,000) is paid upfront in aUSDC and aUSDT (equally divided, $324,000 each).

  • At the conclusion of the engagement time (12 months), the remaining 50% (US$ 648,000) will be paid via two (2) payment streams in aUSDC and aUSDT (equally split, $324,000 each), with each stream beginning 12 months from now and lasting one second.

  • A later proposal for the remaining sum in 12 months will be made if the maximum fee were to apply to this engagement (i.e at the end of the engagement period).

• Aave Proposal; Risk-Off Framework for the Aave Protocol

  • This is a proposal to design a Risk Off Framework for the Aave Protocol, In the past few weeks, Gauntlet has worked with BGD Labs, Llama, Governance House, and other community stakeholders to come to an understanding of how to best implement the protocol with relation to the tradeoffs between value generation and protection.

  • Reduced liquidation thresholds may have a variety of effects on users. This kind of parameter adjustment may make an account eligible for liquidation, particularly if the account health of the user is low.

  • The user experience of the borrower is negatively impacted by these liquidations, according to BGD, Llama, Governance House, and other community members. Therefore, it is crucial that the community agrees in writing on the desired maximum reduction to the liquidation thresholds per AIP.

• Aave Proposal; Aave V3 Harmony - Freeze Reserves

  • In the wake of the Horizon Bridge attack on Harmony, this ARC offers the community a first step in resolving the current problems with the Aave V3 Market.

  • The Aave Guardian is asked to freeze all reserves on the Aave V3 deployment on Harmony in accordance with this suggestion. By making it impossible to deposit or borrow assets in the Aave V3 Market on Harmony, this step would safeguard users while still enabling debt payments, liquidations, withdrawals, and adjustments to interest rates. Any direct transfers to any of the aToken contracts won't be hampered by freezing the reserves.

  • If approved, this AIP will instruct the Aave Guardian to call the setReserveFreeze() function on each asset in the Aave V3 Market on Harmony with the required parameters. Additionally, approving this AIP will allow for the implementation of new cautions and warnings to inform users attempting to engage with the Aave V3 Market on Harmony, as well as the necessary modifications to the IPFS Aave UI to enable this change (disabling supply and borrowing).

Public Goods

• ENS Discussion; Building on top of ENS

  • This discussion is based on introducing gweiclub.xyz which is being built on top of ENS

  • It acts as a customizable web3 profile that is free and opened sourced

  • It contains features like:

    • Detailed profile

    • User Interactions

    • User Connections

    • More to come

  • It acts almost like an Instagram/Facebook page with NFTs

• Gitcoin Discussion; Introducing Flexible Voting

  • ScopeLfit is a dev team that services clients like:

    • Uniswap

    • Optimism

    • POAP

    • Cozy

  • They introduced Flexible Voting:

    • “An extension to the Governor contracts that enables delegates to split their voting weight across For, Against, and Abstain on any given proposal”

Creator Economy

• Bankless Proposal; Grants Committee Election.

  • This snapshot is for voting in 3 members into the grant committee election, the three with the highest votes will be elected

  • The election will be utilizing weighted voting and more information on the applicants can be found here

  • The members who are up for election are:

    • paul🏴#1559

    • Ap0ll0517🏴#5781

    • jengajojo.eth🏴#5896

    • Bananachain#6171

  • The members stepping down are:

    • Kouros (term limit)

    • Chuck

    • Icedcool (term limit)