Aave <> Bored Ghosts Developing (BGD)

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.

2 Likes

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:

6 Likes

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!

3 Likes

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!

4 Likes

Hey!

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?

1 Like

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.

3 Likes

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.

10 Likes

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.

1 Like

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

https://snapshot.org/#/aave.eth/proposal/0x10e6378f193ec4a2953b3ca73b86947586676250191346a90ed4c83593f14883

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

6 Likes

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

3 Likes

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.

7 Likes

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 !

6 Likes

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

7 Likes

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.

1 Like