Aave Grants DAO Update & Renewal

Thanks @eboado @MarcZeller and @stani for your comments and overall support to continue AGD. First, I have canceled the Snapshot vote mentioned above in order to properly address the comments raised and reach a consensus before moving the proposal forward.

There seems to be additional appetite to reduce the overall budget. I can understand this given the current market conditions.

Due to this sentiment, below is a proposed new budget that incorporates the feedback raised and reduces the original budget by $750k. While this will impact AGD’s ability to fund builders and sponsorships, we are confident we will still be able to deliver on our mission. If the community is in favor of this budget over the original proposal, we can move forward with the updated budget. Here are the key changes to the budget:

Reduction in overall grants spend. While it is not an easy decision to cut from this area as it is the heart of AGD, given the importance of events and sponsorships (as has been mentioned numerous times by different commenters above), it makes sense to reduce spend to arrive at a lower total budget. This will also give AGD the resources to focus on quality and to develop an understanding of the different dynamics that will go into GHO, Portal and other new categories of grants. With the reduced number of grants to distribute, we can also evaluate the need to bring on additional reviewers.


  • Agree with @stani that Istanbul is an exciting market and could be a great location for a rAAVE in the first half of 2023. We have kept an allocation to host a rAAVE in the budget.
  • Outside of this proposal our tentative plan is to host 1 more rAAVE in 2023 (not included in this budget). As @MarcZeller suggests, DevCon is a strong candidate given previous rAAVEs around ETHCC.

We removed Consensus as a large-scale activation. There is still the option to potentially do something smaller, but given @MarcZeller’s comments and as it is not developer focused, it makes most sense to remove this as a main activation. This will reduce the total large scale activations AGD participates in from 5 to 4 in the first half of 2023: ETHDenver, ETHGlobal Tokyo, ETHGlobal Istanbul and a virtual hackathon for GHO.

The digital marketing budget has been reduced by $200k. Depending on the status of GHO and how well the initial sponsorships perform, we can look to increase spend to this category during the next proposal.

Finally we have decreased the buffer for events. This will mainly reduce other additional events AGD could sponsor and have a smaller presence at.

Proposed Budget (2 Quarters) Amount Change from Original Budget Payment Notes
Expected Grants to Award $1,500,000 Reduced by $300K
Grants Total Budgeted Cost $1,500,000 50% aUSDC 50% AAVE
Event Sponsorships, Hackathons & Bounties (including rAAVEs, SWAG and other event production costs) $1,100,000 Reduced by ~$250K
Digital Marketing $300,000 Reduced by $200K
Sponsorships Total Budgeted Cost $1,400,000 100% aUSDC
Compensation $240,000 No changes 50% aUSDC 50% AAVE
Maintenance: Tooling, subscriptions, gas reimbursements $20,000 No changes 100% aUSDC
Legal Buffer $90,000 No changes 100% aUSDC
Operations Total Budgeted Cost $350,000
Total Proposed AGD Budget $3,250,000 Reduced by $750k

Currencies of payment

Being clearer internally on what grant categories receive payment in what currency is a good idea to work towards. To put some more rationale and numbers to it, there is a payment column next to each budget item with an estimated % of what currency each item will be paid in. Specifically for the grants portion, AGD will work to create guidelines on what category of grants receive which payment currency going forward. With these figures, aUSDC accounts for >73% of the total budget. As such, we will update our proposal to be paid 25% in AAVE and 75% in USDC.


Thanks, bill for this updated proposal,

I think we reached a fitting consensus.

the ACI will vote YAE to this proposal in its current form.


Hey, @Sov thanks for the questions - I can comment on point 2. Currently, we use a mix of mainly Airtable (to process grants), Notion (for the website and public information sharing), Telegram (for operations and keeping in touch with grantees directly), Gmail (for more formal communication), and Gnosis Safe (for payment processing). Besides that, we have a few custom dashboards for tracking analytics and the regular use of Google Docs, Sheets, Forms, etc.
From a reviewer and analyst perspective, I am happy with the Airtable setup we currently use and think the automation is great! For things that could be improved tooling/process-wise, there is not much, but one area we can improve is analyzing and sharing the data collected in the Airtable. Further work on reporting with Llama and internally with OmniAnalytics should help improve this.


Thanks to everyone who has provided feedback and expressed support to renew AGD! A Snapshot vote has been posted along with an updated proposal. The Snapshot will start tomorrow Jan 7th at 7am EST and run for 5 days.


Thanks for this thorough update @0xbilll !

I am writing to express my strong interest in joining the Aave Grants DAO committee, and to share my relevant skills and experience as a qualified candidate. I am deeply invested in the Aave ecosystem and committed to supporting its growth and development. I see Aave as a crucial protocol in the current and future decentralized financial system, and I am eager to help support the upcoming GHO launch.

*Describe your involvement in the Aave ecosystem

  • I have been closely following the developments in the Aave ecosystem on a professional level. The past two years I have been leading the DeFi efforts at a goal-based savings dapp build on top of Aave, called GoodGhosting. There I helped integrate both Aave v2 and Aave v3 into the app. Currently it is responsible for providing 4% of the DAI liquidity on Aave v3 on Polygon. We were an early Aave Ecosystem grantee (prior to the Aave Grants DAO was established) and spun out of a 2020 ETH London Hackathon project, where it won the Aave prize.
  • On a personal level, I have been an active Aave user since the ETHLend days. According to Degenscore I am a top 1% Aave user.
  • Attended the first three rAAVEs
  • Kept up-to-date with many Aave-related projects, such as Aavegotchi.
  • Succesfully lobbied at Enzyme Finance to add Aave as a yield source to their platform
  • Very excited about the launch of GHO, and the new capabilities.

*What skills/experience do you bring to the committee?

Some skills particularly relevant for reviewing grant proposals and interviewing candidates:

  • Experience reviewing grant proposals as a Enzyme Finance DAO council member (from Sep 2020 until Okt 2022). There I was responsible for reviewing grants related to new DeFi integrations (e.g. adding new yield sources such as PoolTogether and IDLE finance) and UX improvements.
  • Professional experience writing and reviewing academic grants, during my time working in Biotech academia (2013-2018), including budgetting.
  • A good technical understanding of smart contract, frontend and backend development
  • A good overview of what’s happening in the DeFi ecosystem across multiple chains
  • An analytical mind and ability to make data-driven decisions
  • Experience running a startup, and its realistic funding requirements

*Can you commit between two and ten hours a week?

  • Yes

I would be honored to join the Aave Grants DAO committee and help drive the continued success of the Aave ecosystem!

1 Like

Application for a reviewer role: Questbook
We’ve helped facilitate $2.1M in grants and have spoken to 400+ builders applying for grants. We have received two grants from AAVE. We want to bring this experience and expertise to be a reviewer at AGD.

Describe your involvement in the Aave ecosystem

  • Questbook received a grant from AAVE to build a grants orchestration tool
    • Already being used in Aave developer tooling grants experimentally
    • 20K builders on the tool every month
    • For more details: Grant-61
  • Sovereign Signal (@Sov ) received a grant from AAVE for the long-form retrospective on the performance and impact of AAVE Grants DAO.

What skills/experience do you bring to the committee?

We know what it takes to run a grants program efficiently

More importantly, we understand what role a reviewer plays in a good grants program.

  • We are a Developer Tooling reviewer for CGP 2.0
  • Recipient of 2 grants from AAVE
  • Have spoken to over 400 builders applying for grants across the ecosystem

Can you commit between two and ten hours a week?

Yes, absolutely.


thanks @Deepcryptodive & @harsha for your interest to support @0xbilll & AGD but this thread is not the right place to do that, I invite y’all & other potential candidates to contact bill directly.

the conversation about the AGD proposal is now centered around a new thread Updated Proposal: Aave Grants DAO Renewal

I will close this one now and invite people that want to continue discussing the AGD proposal to participate there.