Aave Chan Initiative Delegate platform
- Delegate Address: Aavechan.eth
- Telegram: @Lemiscate
- Discord: Marczeller | Aave#3432
- Twitter: https://twitter.com/lemiscate (founder) https://twitter.com/AaveChan (ACI)
- Voting record: Boardroom
The Aave-Chan Initiative (ACI) is a delegate platform founded by Marc Zeller, the founder of Pandemic an independent blockchain consulting company working with the Aave Companies since 2019. The ACI aims to participate in governance discussions on Aave and create snapshot votes & AIPs to be submitted to community vote for the benefit of the Aave protocol.
Delegate Statement (why you should delegate to us)
The Aave-Chan Initiative, while being a new structure, already has a long track record in the Aave governance (Co-author of AIP-1) and forum discussions.
As the Aave ecosystem is getting more mature, the protocol benefits from more delegation diversity with their independent visions and value propositions for the Aave protocol.
As delegates, we commit to dedicating our time and resources to support Aave’s development and growth.
What voters can expect from Aave-Chan Initiative:
- Active: we have a strong track record of governance participation and will be involved in governance at each step of AIPs process from ARCs to onchain AIPs votes
- Vision: The ACI main goal and focus is the Aave protocol success, ACI is dedicated to DeFi ethos and long-term games.
- Focus: ACI has no plan to expand into other protocols governance actively and will remain laser-focused on Aave.
Our main focus points at launch are:
- Treasury efficiency:
Every $ in the Ecosystem Reserve, in the Aave DAO treasury, should be cherished as the property of every AAVE token holder, and each spending should be done with the full intent to provide the maximum benefit for the Aave protocol ecosystem and not just be considered as a “buffet” to drain easy money by overcharging services. the ACI is fully dedicated to playing “Scrooge McDuck” in Aave and will have a slightly softer spot toward spending in Dev & risk mitigation over other aspects.
By providing a defacto alternative to current existing services, the ACI will provide both cooperation and competition to existing services with the full intent to contribute to the efficiency of these services.
- Treasury Efficiency (II):
The Aave DAO treasury is currently only gaining yield from depositing into Aave. Both for increased yield and for strategic & synergies reasons the ACI is supportive and wants to participate in less passive management of the DAO treasury, such as examples from llama by doing risk-averse investments that will increase yield:
convert part of WETH into LSDs to gain staking yield
Deposit part of stablecoins into stableswaps
stake veTokens and vote for Aave related pools
regularly convert part of long tail assets into wETH or stablecoins
The ACI is supportive of Protocol Owned Liquidity (POL) and bonding. While most, if not all, of “DeFi 2.0” died, some ideas executed in a non “ponzi” way do have an added-value proposition.
With the emergence of GHO, we think there are opportunities to diversify the Aave DAO treasury and rework the Safety module with more robust models and ACI want to be an actor of governance discussions around this point.
- Stablecoin diversity:
The DeFi ecosystem is addicted to USDC, and it’s a central point of failure and an Achilles heel to the ecosystem. While we consider Circle to be a trustworthy and non-hostile actor, supporting decentralized stablecoins diversity to provide alternatives makes the ecosystem both more resilient and attractive.
Aave is the leader of stablecoin diversity and will soon deploy GHO to participate in this diversity, the ACI is a supporter of this strategy.
- LSD diversity:
Liquid staking derivatives or LSDs, are the best form of collateral at the disposal of an Aave user, as yield-bearing by nature, yield is linked to actual economic activity. One of the goals of ACI will be the support the onboarding of a more diverse set of LSDs into Aave V3, leveraging supply & borrow caps and isolation mode to increase diversity while maintaining risk mitigation at the protocol level.
- DeFi synergies:
One of the reasons Aave reached a leadership position was their dedication to the protocol to act as a team player with the ecosystem and encourage synergies.
Yield-bearing assets and LP tokens as collateral could be strategically onboarded in protocol V3 to attract more liquidity and allow users of other protocols to gain borrowing power in Aave.
Aave was a pioneer in this area with the AMM V1 market; while it was too early to show success, time only proved the potential of these assets as the ecosystem gained maturity.
The ACI is in favor of increased synergies with Curve, Balancer, Arrakis, and others actors.
The ACI fully commits to declaring all votes in the current thread and summarizes the reasons for each vote in complete transparency.
Conflicts of Interest
Aave-Chan Initiative is founded by Marc Zeller, the founder of Pandemic, an independent blockchain consulting company working with the Aave Companies since 2019; The founder owns AAVE and multiple assets in the ecosystem. The founder is also an Angel investor in various ecosystem projects and will disclose accordingly.