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...
Subscribe to Wildfiredao.eth
Subscribe to Wildfiredao.eth
Share Dialog
Share Dialog
<100 subscribers
<100 subscribers
DeFi
Aave Proposal; Risk Parameter Updates for Aave V2: 2022-08-04
This is a proposal to modify four (4) Aave V2 assets' total exposure to seven (7) risk criteria, including the liquidation threshold and bonus.
In order to comply with the Moderate risk level selected by the Aave community, this proposal is a batch update of the risk parameters. The regular parameter suggestions from Gauntlet are continued with these parameter updates. The most recent market information has been digested by our simulation engine to recalibrate the Aave protocol's settings.
The optimization function that balances the three primary criteria of insolvencies, liquidations, and borrows utilization is what determines what parameters Gauntlet should use. This objective function is optimized by parameter recommendations.
Asset volatility, asset correlation, asset collateral use, DEX/CEX liquidity, trading volume, the anticipated market impact of trades, and liquidator behavior are just a few examples of the large range of diverse input data that our agent-based simulations employ and that change every day. Gauntlet's simulations elucidate intricate connections between various inputs that defy straightforward heuristic expression.
Aave Discussion; BDG. Aave <> Chainlink Proof of Reserve. Phase 1
Chainlink's Proof-of-Reserve has begun to be integrated into Aave by BGD, with the initial focus being on the defense of "bridged assets" in non-Ethereum networks where Chainlink can supply Proof-of-Reserve feeds.
Chainlink's Proof-of-Reserve solution enables the use of the reserve asset data to flow directly on-chain and provides accurate reserve asset monitoring.
Up until this point, Proof-of-Reserve has been focused on assets like fiat-backed stablecoins as well as an early group of "wrapped" assets like WBTC, whose reserves are money kept on a different blockchain or network (Bitcoin in the case of WBTC).
Recently, the Aave community has already witnessed this type of risk materializing in the case of Aave v3 Harmony, with the Harmony bridge being exploited and the Aave v3 Harmony pool subsequently being impacted.
Element Discussion; EGP-9: Onboard bb-a-USD
This proposal proposes the addition of a Yearn Finance strategy that utilizes Aura Finance as a supported yield originator to automatically compound deposits made to the bb-a-USD Balancer Finance pool.
The second-largest pool on Balancer Finance, bb-a-USD, has $130M in TVL as of this writing. It normally invests between 80 and 85 percent of its available liquidity in AAVE, resulting in a blended yield of 0.74 percent at the time of writing. This results in an APR of around 6% before Yearn Finance performs any auto-compounding, taking into account both $BAL and $AURA emissions. As a creator, it offers a strong combination of consistent governance token emissions and organic production.
In addition to implementing its veBAL system, Balancer Finance has also made the commitment to support governance-preferred Balancer pools, and Aura Finance has done the same. This means that bb-a-USD LPs are eligible to earn four types of payments: trading commissions, rehypothecation yields, $BAL emissions, and $AURA emissions. In light of this, Yearn Finance created a strategy that can a) deposit bb-a-USD Balancer Pool Tokens into Aura Finance, and b) automatically compound the position as it earns $BAL and $AURA. This plan is anticipated to be completed by the middle of August and, subject to a governance vote, might be incorporated to the Yearn Finance frontend.
Element Discussion; EGP-10 Element Fixed Borrow Protocol Grant Proposal (By Component)
Component is asking for a grant of 450 000 ELFI voting tokens in order to construct a fixed borrow protocol on top of Element Finance. With the money from this award, we will be able to create a protocol that offers Compound Finance and Aave customers competitive, affordable fixed-rate borrowing. Component has been a frequent contributor to Element Finance since the beginning of 2021 and will keep introducing new integrations for fixed rates there. With the help of this award, Component will be a part of the Element DAO's growth, revenue generation, and decentralization over the long term.
Our protocol will give consumers who would otherwise only be able to borrow at fluctuating non-fixed rates a useful source of competitive, predictable borrowing rates. The first deployment will enable current borrowers on AAVE and Compound (around $8 billion TVL) to use the Fixed Borrow Protocol to change their variable rates to fixed rates. In the DeFi environment, this has not yet been accomplished. In order to accommodate new borrowers, we will also expand the protocol.
Balancer Proposal; [BIP-37] Allocate BAL Liquidity to Polygon & Arbitrum Multichain Bridge
As you may remember, BIP-3 allotted 40k BAL for the Multichain Ethereum>Optimism bridge liquidity. Since then, this liquidity has been used quite effectively. The proposal's author contacted Multichain to request that they add support for Polygon & Arbitrum to their router, which is already up and running and simply needs to be seeded with BAL liquidity so that users may begin bridging.
The author thinks it is beneficial to be able to move BAL quickly between all of Balancer's deployments since it makes idle BAL in the Treasury more useful and because we do get paid bridging fees for all of this activity. It is realistic to anticipate an increase in demand for bridging BAL between networks as BIP-19 starts to drive more acceptance for us on Polygon & Arbitrum.
Balancer Proposal; [BIP-38] Request for BAL Allocation to Orb Collective
It was first noted in the funding proposal for the Orb Collective that Orb intended to request BAL through a different governance proposal in order to be in line with the grants that Balancer Labs had offered to full-time team members. The DAO would not incur any extra BAL costs as a result.
The Orb team is asking for 398,527 BAL, which would be distributed to team members in the present and the future as compensation during a 4-year vesting period with a 1-year cliff. These BAL tokens would originate from the DAO, which just raised the number of BAL it had available thanks to a transfer it received on July 29.
Balancer Proposal; [BIP-39] Repay Aura Treasury for Unclaimed Rewards
Due to a logic flaw in the previous iteration of Balancer's FeeDistributor contract, 3100 BAL were deposited and were therefore permanently locked from being claimed by the Aura VoterProxy. These tokens have already been produced, deposited as prizes, and are currently locked indefinitely.
Notably, no additional claims or accounts were impacted. The problem was discovered, and it was then fixed.
The Aura Treasury manually deposited the missing BAL to the auraBAL rewards to make up for the lost yield and guarantee that the mechanism worked as planned.
Public Goods
Gitcoin Discussion; Does the DAO need a Decentralization Essential Intent?
There has been some feedback in the Gitcoin DAO that points out that the narrative and structure have swayed away from decentralization
Some of the questions Owocki poses:
What is the purpose of decentralization?
What layers of decentralization matter?
What are your expectations of GTC holders?
The main response summed up in these questions is that decentralization is defined as a decoupling of ideas and diversification of perception and matters in every layer of the DAO
The expectation of GTC holders is to not attempt to consolidate power/votes and let the natural order of things flow
Creator Economy
Bankless Discussion; WTF is a Guild?
Bankless DAO is made up of a myriad of teams but it is hard to designate which team is which
If you add funding into this equation it becomes a nightmare
Taxonomy is a way to name teams with their specific purpose in mind and takes away from the ambiguity
This idea can be applied to funded teams:
Department (seasonal funding)
Guild (auto seasonal funding)
Project (Ad-hoc funding)
The specifics amounts of funding for each of these sub-groups can be found on the discussion post
DeFi
Aave Proposal; Risk Parameter Updates for Aave V2: 2022-08-04
This is a proposal to modify four (4) Aave V2 assets' total exposure to seven (7) risk criteria, including the liquidation threshold and bonus.
In order to comply with the Moderate risk level selected by the Aave community, this proposal is a batch update of the risk parameters. The regular parameter suggestions from Gauntlet are continued with these parameter updates. The most recent market information has been digested by our simulation engine to recalibrate the Aave protocol's settings.
The optimization function that balances the three primary criteria of insolvencies, liquidations, and borrows utilization is what determines what parameters Gauntlet should use. This objective function is optimized by parameter recommendations.
Asset volatility, asset correlation, asset collateral use, DEX/CEX liquidity, trading volume, the anticipated market impact of trades, and liquidator behavior are just a few examples of the large range of diverse input data that our agent-based simulations employ and that change every day. Gauntlet's simulations elucidate intricate connections between various inputs that defy straightforward heuristic expression.
Aave Discussion; BDG. Aave <> Chainlink Proof of Reserve. Phase 1
Chainlink's Proof-of-Reserve has begun to be integrated into Aave by BGD, with the initial focus being on the defense of "bridged assets" in non-Ethereum networks where Chainlink can supply Proof-of-Reserve feeds.
Chainlink's Proof-of-Reserve solution enables the use of the reserve asset data to flow directly on-chain and provides accurate reserve asset monitoring.
Up until this point, Proof-of-Reserve has been focused on assets like fiat-backed stablecoins as well as an early group of "wrapped" assets like WBTC, whose reserves are money kept on a different blockchain or network (Bitcoin in the case of WBTC).
Recently, the Aave community has already witnessed this type of risk materializing in the case of Aave v3 Harmony, with the Harmony bridge being exploited and the Aave v3 Harmony pool subsequently being impacted.
Element Discussion; EGP-9: Onboard bb-a-USD
This proposal proposes the addition of a Yearn Finance strategy that utilizes Aura Finance as a supported yield originator to automatically compound deposits made to the bb-a-USD Balancer Finance pool.
The second-largest pool on Balancer Finance, bb-a-USD, has $130M in TVL as of this writing. It normally invests between 80 and 85 percent of its available liquidity in AAVE, resulting in a blended yield of 0.74 percent at the time of writing. This results in an APR of around 6% before Yearn Finance performs any auto-compounding, taking into account both $BAL and $AURA emissions. As a creator, it offers a strong combination of consistent governance token emissions and organic production.
In addition to implementing its veBAL system, Balancer Finance has also made the commitment to support governance-preferred Balancer pools, and Aura Finance has done the same. This means that bb-a-USD LPs are eligible to earn four types of payments: trading commissions, rehypothecation yields, $BAL emissions, and $AURA emissions. In light of this, Yearn Finance created a strategy that can a) deposit bb-a-USD Balancer Pool Tokens into Aura Finance, and b) automatically compound the position as it earns $BAL and $AURA. This plan is anticipated to be completed by the middle of August and, subject to a governance vote, might be incorporated to the Yearn Finance frontend.
Element Discussion; EGP-10 Element Fixed Borrow Protocol Grant Proposal (By Component)
Component is asking for a grant of 450 000 ELFI voting tokens in order to construct a fixed borrow protocol on top of Element Finance. With the money from this award, we will be able to create a protocol that offers Compound Finance and Aave customers competitive, affordable fixed-rate borrowing. Component has been a frequent contributor to Element Finance since the beginning of 2021 and will keep introducing new integrations for fixed rates there. With the help of this award, Component will be a part of the Element DAO's growth, revenue generation, and decentralization over the long term.
Our protocol will give consumers who would otherwise only be able to borrow at fluctuating non-fixed rates a useful source of competitive, predictable borrowing rates. The first deployment will enable current borrowers on AAVE and Compound (around $8 billion TVL) to use the Fixed Borrow Protocol to change their variable rates to fixed rates. In the DeFi environment, this has not yet been accomplished. In order to accommodate new borrowers, we will also expand the protocol.
Balancer Proposal; [BIP-37] Allocate BAL Liquidity to Polygon & Arbitrum Multichain Bridge
As you may remember, BIP-3 allotted 40k BAL for the Multichain Ethereum>Optimism bridge liquidity. Since then, this liquidity has been used quite effectively. The proposal's author contacted Multichain to request that they add support for Polygon & Arbitrum to their router, which is already up and running and simply needs to be seeded with BAL liquidity so that users may begin bridging.
The author thinks it is beneficial to be able to move BAL quickly between all of Balancer's deployments since it makes idle BAL in the Treasury more useful and because we do get paid bridging fees for all of this activity. It is realistic to anticipate an increase in demand for bridging BAL between networks as BIP-19 starts to drive more acceptance for us on Polygon & Arbitrum.
Balancer Proposal; [BIP-38] Request for BAL Allocation to Orb Collective
It was first noted in the funding proposal for the Orb Collective that Orb intended to request BAL through a different governance proposal in order to be in line with the grants that Balancer Labs had offered to full-time team members. The DAO would not incur any extra BAL costs as a result.
The Orb team is asking for 398,527 BAL, which would be distributed to team members in the present and the future as compensation during a 4-year vesting period with a 1-year cliff. These BAL tokens would originate from the DAO, which just raised the number of BAL it had available thanks to a transfer it received on July 29.
Balancer Proposal; [BIP-39] Repay Aura Treasury for Unclaimed Rewards
Due to a logic flaw in the previous iteration of Balancer's FeeDistributor contract, 3100 BAL were deposited and were therefore permanently locked from being claimed by the Aura VoterProxy. These tokens have already been produced, deposited as prizes, and are currently locked indefinitely.
Notably, no additional claims or accounts were impacted. The problem was discovered, and it was then fixed.
The Aura Treasury manually deposited the missing BAL to the auraBAL rewards to make up for the lost yield and guarantee that the mechanism worked as planned.
Public Goods
Gitcoin Discussion; Does the DAO need a Decentralization Essential Intent?
There has been some feedback in the Gitcoin DAO that points out that the narrative and structure have swayed away from decentralization
Some of the questions Owocki poses:
What is the purpose of decentralization?
What layers of decentralization matter?
What are your expectations of GTC holders?
The main response summed up in these questions is that decentralization is defined as a decoupling of ideas and diversification of perception and matters in every layer of the DAO
The expectation of GTC holders is to not attempt to consolidate power/votes and let the natural order of things flow
Creator Economy
Bankless Discussion; WTF is a Guild?
Bankless DAO is made up of a myriad of teams but it is hard to designate which team is which
If you add funding into this equation it becomes a nightmare
Taxonomy is a way to name teams with their specific purpose in mind and takes away from the ambiguity
This idea can be applied to funded teams:
Department (seasonal funding)
Guild (auto seasonal funding)
Project (Ad-hoc funding)
The specifics amounts of funding for each of these sub-groups can be found on the discussion post
No activity yet