Aave Grants DAO (AGD) is currently in its fourth quarter and actively funding projects that will benefit the Aave ecosystem. This update will hopefully provide some more in depth information on recently awarded grants, progress of AGD, and key metrics.
Despite the current market, Aave Grants has seen positive impact from funded projects and a continued interest from high potential candidates. The current quarter began on May 15 after the AGD renewal proposal was executed with a $3 million per quarter funding budget.
This past July, AGD has awarded 13 grants with a sum total of $160,896 allocated across single and tranche-based payments. Of the awarded grants, four are applications and integrations, four are protocol development focused, three are aimed at community (marketing and educational), and one for each of these categories: developer tooling, committees & DAOs that serve Aave’s ecosystem and other.
All awarded grants are below $50,000 and above $3,000 with 3 grants of $15,000 being the most commonly awarded amount. Starting with the largest grant this quarter and working down:
Grant Name - $ total grant amount(payment type) - grant type
- grant description
Chaos Labs - $50,000(tranche) - developer tooling
- Chaos Labs is creating and hosting an array of Aave community tools such as a real-time user metrics dashboard and tool to see APY earned/paid
Messari - $30,000(tranche) - other
- building a standardised weekly report for Aave which will outline liquidity and usage metrics to community and be publish via their newsletter (250k subscribers) and Twitter (250k + followers)
MetricsDAO - $25,000(tranche) - community (marketing and educational)
- organised, on-demand analytics delivery of specifically Aave V3 usage
Mean Finance - $25,000(tranche) - applications and integrations
- two yield related project one building on top of the other both using Aave, first is a dollar-cost-averaging(DCA) product that deposits funds waiting to be swapped into investment token into Aave to earn yield, second is a product that rather that DCA-ing the initial investment DCA’s earned yield into a selected asset
Alcancia - $20,000(full) - applications and integrations
- Alcancia brings Mexican Pesos and Dominican Pesos into USDC or DAI and will provide a high-yield savings account for users using Aave
Nomis - $20,000(full) - protocol development
- a crypto protocol based on a mathematical prediction model and AI that generates decentralised credit scores. They offer users crypto loans on DeFi platforms with better terms (lower interest, less collateral) dependant on their wallet data generated credit score
Hash Space winner of EthGlobal Hack Money 2022 - $19,000(full) - community (marketing and educational)
- a game that integrates Aave’s yield generation and Lens protocols social graph into a socialFi like game
Pocket Network - $16,396(full) - applications and integrations
- Pocket Endpoints to Aave’s user facing RPC especially on Ethereum and Polygon, safeguarded by Contract-based permissions, so that only Aave usage would send relays to the endpoint
StationX.network - $15,000(full) - committees & DAOs that serve Aave’s ecosystem
- an investmentDAO creation platform for easy on and off chain investmentDAO creation
SoLo Protocol - $15,000(full) - protocol development
- an identity protocol that enables undercollateralized (UC) loans using off-chain credit scores and a security mechanism involving personal data. KYC information accessed through a zero knowledge proof is used to determine the LTV of a loan on Aave and only made accessible should a borrower default on their loan
DeFi Basket - $15,000(full) - application and integrations
- single transaction portfolio building, copying, and managing application for easy investing including users Aave usage
Digital Charity Art-2 - $10,000(full) - protocol development
- new NFT minting marketplace based on locking up funds to secure mint
- Continuation of Greek the Community (CryptoBlocks) - $3,000(full) - community (marketing and education)
- continuation of the Greek community building and translation of Aave’s newsletter content
Since May 15th AGD has awarded 54 grants with a total sum of $1,473,016 out of the $3 million allocated for the current quarter. This leaves a remaining $1,526,984 available for potential candidates applying before the next budget proposal is passed.
The current burn rate is ~$1m under maximum spend leaving a good margin for additional grants in the remaining days of the current quarter.
To keep the Aave community better informed on AGD’s progress and ROI forum updates like these will be published three or more times a quarter to give a more indepth look into Aave Grants actively awarded projects and comparing progress against metrics outlined in the renewal proposal. In future posts we aim to include more analytical data on ROI along with updates on grant receivers completion rate and ecosystem impact. We welcome any ongoing feedback and are happy to surface any particular metrics the community is interested in seeing in such posts.