DeFi

• Aave Discussion; ARC: Raise the Avalanche V3 Market's USDT debt ceiling 

  • The debt ceiling for USDT was set at $5 million when the Avalanche V3 market first opened. The goal of this proposal is to raise the USDT debt ceiling on the Avalanche V3 Market to $75 million. 

  • Borrowing against USDT on the Avalanche V3 Market is no longer an option because the current debt ceiling has been reached. Over $650M worth of USDT is currently available on Avalanche. If the limit were raised to $75M, nearly 20% of the available USDT on Aave would be accepted as collateral in isolation mode. 

  • According to the author, despite the controversies surrounding USDT, stablecoin continues to have the longest history of any significant stablecoin and the greatest market cap.

   

• Aave Discussion; WOO Network AAVE asset listing proposal

  • WOO Network is a deep liquidity network that links traders, Zero-fee trading on WOO X is made possible by staking WOO. Large institutional traders, exchanges, and investors hence need a lot of capital to get the required WOO. These players might borrow the necessary WOO if they were listed on AAVE without having to expose themselves to market turbulence. 

  • Additionally, more than 50% of the WOO in circulation is being staked, indicating WOO holders are looking for yield opportunities and are therefore more likely to engage in lending. They may also use WOO as a collateral asset to gain market exposure without selling their WOO via the AAVE application. These elements collectively suggest potential TVL expansion for AAVE.

• Aave Proposal; Aave Governance. Adjust Level 2 requirements (long executor)

  • This proposal is for the Aave community's approval to modify the governance standards (proposition power, quorum vote differential) for Level 2 ideas, which will have an impact on the most important parts of the Aave ecosystem.

  • From the perspective of the BGD, this is strongly advised because those requirements were established in the past when the AAVE fragmentation was different, and because it could result in the creation of an artificial and self-imposed bottleneck to pass proposals that, given their technical nature, shouldn't really face opposition.

  • A more detailed explanation of this proposal is contained in this forum post.

Public Goods

• ENS Tempcheck; Reimburisng Onchain Voters.

  • This temp check brings up the point that the total spent on gas for the last nine airdrops has been 3.75 ETH

  • Most of this gas is spent through delegates but reimbursing gas costs could encourage smaller voters to vote

  • At best this can be used on a trial basis and see how it affects voter outcomes

   

• Gitcoin Proposal; Collective Workstream & Budget Request for Season 15

  • This is a proposal for Season 15 budgets that amounts to $1,445,514

  • The breakdown of the budget:

    • Contributor Compensation - $635,911

    • Hiring Budget - $232,500

    • Dev Rel Expenses - $60,000

    • OpEx - $55.018

    • 60 day reserves - $462,085

DeFi

• Aave Discussion; ARC: Raise the Avalanche V3 Market's USDT debt ceiling 

  • The debt ceiling for USDT was set at $5 million when the Avalanche V3 market first opened. The goal of this proposal is to raise the USDT debt ceiling on the Avalanche V3 Market to $75 million. 

  • Borrowing against USDT on the Avalanche V3 Market is no longer an option because the current debt ceiling has been reached. Over $650M worth of USDT is currently available on Avalanche. If the limit were raised to $75M, nearly 20% of the available USDT on Aave would be accepted as collateral in isolation mode. 

  • According to the author, despite the controversies surrounding USDT, stablecoin continues to have the longest history of any significant stablecoin and the greatest market cap.

   

• Aave Discussion; WOO Network AAVE asset listing proposal

  • WOO Network is a deep liquidity network that links traders, Zero-fee trading on WOO X is made possible by staking WOO. Large institutional traders, exchanges, and investors hence need a lot of capital to get the required WOO. These players might borrow the necessary WOO if they were listed on AAVE without having to expose themselves to market turbulence. 

  • Additionally, more than 50% of the WOO in circulation is being staked, indicating WOO holders are looking for yield opportunities and are therefore more likely to engage in lending. They may also use WOO as a collateral asset to gain market exposure without selling their WOO via the AAVE application. These elements collectively suggest potential TVL expansion for AAVE.

• Aave Proposal; Aave Governance. Adjust Level 2 requirements (long executor)

  • This proposal is for the Aave community's approval to modify the governance standards (proposition power, quorum vote differential) for Level 2 ideas, which will have an impact on the most important parts of the Aave ecosystem.

  • From the perspective of the BGD, this is strongly advised because those requirements were established in the past when the AAVE fragmentation was different, and because it could result in the creation of an artificial and self-imposed bottleneck to pass proposals that, given their technical nature, shouldn't really face opposition.

  • A more detailed explanation of this proposal is contained in this forum post.

Public Goods

• ENS Tempcheck; Reimburisng Onchain Voters.

  • This temp check brings up the point that the total spent on gas for the last nine airdrops has been 3.75 ETH

  • Most of this gas is spent through delegates but reimbursing gas costs could encourage smaller voters to vote

  • At best this can be used on a trial basis and see how it affects voter outcomes

   

• Gitcoin Proposal; Collective Workstream & Budget Request for Season 15

  • This is a proposal for Season 15 budgets that amounts to $1,445,514

  • The breakdown of the budget:

    • Contributor Compensation - $635,911

    • Hiring Budget - $232,500

    • Dev Rel Expenses - $60,000

    • OpEx - $55.018

    • 60 day reserves - $462,085