Aave <> Bored Ghosts Developing (BGD)

Hello everyone, first of all congratulations to Aave for launching v3. What a ride from EthLend, where Stani asked me to translate the dapp to v3 Aave now.

Secondly i am also in favour of BGD. Its nice to see these 3 people working on something that is a key protocol in DeFi.
I have only one question regarding the costs. As I really don’t know how “expensive” it is those numbers seem high for me. I think there are several people in here that feel so too. Thats why I think it would be great if you could ELI5 to us how they are being used. Maybe explain some costs for infrastructure, payments, salary and stuff like that. Just to have a better understanding.
In general the protocol should easily handle this amount.

Thank you


Hey everyone, as the head of integration at Chainlink I’ve had the pleasure of working with Emilio, Ernesto and Andrey for the last 2 years. I can attest personally of their unparalleled contribution to the Aave protocol and community.

They are hard workers who in my experience are both able to move fast, contributing to Aave being the a player in DeFi today and always with security in mind being one of the few protocols which has had 0 security issues since it’s conception.

I strongly support this proposal and look forward to working with this team on oracles for the years to come.


Hi @ezr3al, thanks for the support.

Regarding your question about the allocation of funds, some aspects:

  • Even with the co-founders of BGD Labs being personally community members of Aave, BGD Labs will act as a service provider to the Aave DAO with this proposal. This means that we are an independent venture engaging with an entity (the Aave DAO) for the list of tasks presented, no matter if their scope is more or less opened. That being said, the budget proposed is a consequence of evaluating the importance of the service we provide, together with the difficulty of the tasks, together with the market of expertise out there: we will not be just 3 persons alone, we also want to attract talent. And of course, in order to be consistent with what we personally believe in, we tried to be conservative enough for the Aave DAO to absorb pretty well the cost.

  • In terms of the breakdown of the budget, part of it will be used to pay for talent to tackle the different tasks, and part to the different costs that can appear in the road, mainly deployment costs, creation of proposals, and infrastructure subscriptions (at least initially). That being said, talent is the most costly part, given the scarcity on the market.

  • I would not go into a detailed allocation of the budget, because we really believe in independence and privacy. So even if we think it is fine for BGD to have public financials in what regards the proposal (given the nature of the engagement), we also prefer to keep our internal financial planning private.


This is a great initiative! Knowing @eboado @Emilio and @Andyko from the Aave <> StarkNet project makes me fully competent that the project will be pushed forward to reach the maximal outcome and fulfill its goals. Surely the professional experience these guys have is exactly whats needed fo this type of project.
I would obviously love to see these features and improvements in the future also on StarkNet and hope that this initiative will continue to grow also past the 15 month period mentioned here.


After waiting for a while to get community input first, I decided now that its good time to come here and express my full support for @eboado @Andyko and @Emilio for deciding to stay in the community after many years of development of the Aave Protocol.

First, I believe that the team of BGD would be fully capable of executing the roadmap given the existing knowledge of the protocol and given my personal experience with the team, they are the best protocol developers whom I worked during my web3 career. Additionally, the team would get all support from the Aave Companies (which whom continues to build new innovation on top of Aave).

Second, the proposal is remarkable from the perspective of decentralization, reinforcing the idea that Aave DAO utilizes services from various contributors and service providers to ensure protocol sustainability and the ops. I hope the proposal inspires other service providers to help the Aave community in various topics ranging from risk parameters, research, development, design, events and modelling interest rate strategies.

Lastly, the values of the BGD resonates the values of the Aave community and regarding the amounts they seem to be appropriate considering that BGD would have internal/external contributors helping to fulfil their roadmap, rest assured I am confident that the quality of the work would be in line what has been the build before in the Aave community.

Will vote hard YES on the proposal!


Recommend adding a growth (partnerships and community) component to BGD staffing and budget. Most of the protocol related activities will need to be in the DaO sooner rather than later so this should be expanded to include whole product activities.


Gm all

What a strong team and proposal for the Aave ecosystem that is growing fast. The DAO is in need of more decentralised contributors. Preformed teams that work well together and know the protocol will facilitate onboarding and speed up time to prod

Having worked with the members of the BGD team for over 2 years as part of the Aave genesis and core team, I can attest :

  • Unparalleled knowledge of the Aave codebase
  • Some of the longest & strongest expertise in blockchain dev
  • Strong connexions and synergies with the space
  • Long term vision for DeFi
  • Commitment to decentralisation

Furthermore, this proposal covers some important next steps for the Aave Protocol, at a very reasonable costs given the level of skills assembled

Big YES to this BGD proposal :ghost: :ghost: :ghost:


gm community, many thx for this proposal. Its mandatory to have a reliable, experienced and committed core development team. Aave stands for a secure and stable protocol since EthLend - this is the way to build a solid foundation for the future. 100% support!

PS: It is a thousand times smarter to put part of the threasury into further development than into e.g. liquidy mining!


Hi everybody.
Following the roadmap of the proposal, we will be hosting a Twitter Spaces today at 17.00 CET, to talk a bit about the proposal and answer any pending questions.
Feel free to join!



I like the proposal and am in support of it.

Is there not a risk that in the eyes of the regulators that BGD would become the developers and maintainers of the Aave Protocol? That potential could lead to some regulatory pressure towards BGD and Aave.

There was talk once, that potentially the developers/deployers of protocols would be subject to being a VASP?

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Thanks for the support @G-Blockchain !

It is important to notice that BGD will not become THE developers and maintainers of the Aave protocol. If the proposal passes, we will be another service provider to the protocol, together with multiple other initiatives already doing contributions of different nature (e.g. Gauntlet, Certora, the Aave Genesis team itself, etc) and hundreds of community members and external projects building on all Aave layers. With development being an important component of the ecosystem, it is common to misinterpret the relation in cases like this.
At the same time, we will not really have any decision power on the approval of any developments of the protocol. That is the right and responsibility of the decentralized community itself, via the governance processes, not of a development initiative engaging it.
In summary, the concept of “maintainer” in a completely decentralized system like Aave doesn’t really apply in a generic meaning, only that some services can include different types of maintenance (technical, risk, procedures), but nothing else.


On Gauntlet’s behalf, I can echo much of the positive sentiment in the replies above. Our interactions, primarily with @eboado and @Emilio, have always been collegial in nature. We can confirm this team embodies the mission statement outlined, most notably Compromise First and Security before pace. These values are exemplified everywhere throughout this forum (Expertise and openness).

Bored Ghosts Developing can expect Gauntlet’s YAE vote.


Hey! I think this is a great proposal and general trend seen across several protocols; I believe this is a great team that will definitely have a positive impact on AAVE.

I was wondering how the BGD team would collaborate with other community members and contributors. Would there be opportunities for individuals and teams interested in helping out to work on these projects alongside the BGD team?

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Hi @siddhant . Yes, of course, as one of the purposes of BGD is to help bring more people with technical expertise about Aave to the community.
So I encourage everybody that has any collaboration idea in mind to contact us.

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Following our proposal roadmap, a Snapshot vote has been created, starting tomorrow at 14.00 UTC here:


As always, all wallets with AAVE/aAAVE (on Ethereum, Polygon and Avalanche), stkAAVE and stkBPT are able to vote on the proposal.


You got my vote :raised_hands:
Cannot wait to see how this will benefit the ecosystem.


Today, the Snapshot vote finished, with 278’000 votes in favor (99.88%), 66 votes against (0.02%), with hundreds of voters considering meaningful amounts of voting power.
Together with the incredible public support for this proposal here in the forum and those results on Snapshot, it is clear that the community has already signaled positively for the vote to go on the on-chain governance.
Thanks to everybody for the great support on Snapshot !

In order to proceed with the on-chain step, and as the executable payload to be included involves meaningful amounts of funds, from BGD we are finishing a solution to allow the protocol treasury to create streams of funds natively, in order to not withdraw big amounts and have the treasury getting yield from aTokens (current investment strategy) even with the funds of the stream, while they are not “vested”.
Once everything is finished and proper security procedures applied, we will announce when the proposal will be created, with enough time in advance for the community (including smart contracts protocols holding AAVE) to gather the voting power.


Finally, we have reached the last step of the Aave <> BGD engagement.

The on-chain proposal is open to vote during the following 3 days. Everybody can vote on the Aave UI HERE, or directly to the governance contracts, on proposal with id 71 !


After a successful on-chain vote, now the Aave <> BGD collaboration is a reality.

Thanks to everybody that participated in the process for the overwhelming support!

From now on, we will move the communications of BGD to the Development category here on the forum and in the different BGD communications channels.

You can already take a look at our Day 0 summary of what is coming HERE


Apoyo firmemente esta iniciativa y el equipo está al servicio de los intereses de la comunidad, el crecimiento y la sostenibilidad del protocolo aave.
Así como también creo que es una idea fantástica y me encantaría verla ser realidad para la comunidad de Aave.
Así como también creo que el costo es bastante razonable y está alineado con los modelos Bussiness to DAO.

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