- November ‘22
Overview
The Aave Grants DAO (AGD) has recently finished the time frame outlined in the third proposal from May 2022 and is seeking to extend for another two quarters. Earlier this month, we shared a proposal outlining the program’s achievements to date and requesting a continuation for an additional two quarters.
This update is slightly late in reporting on AGD’s work in November. As always it will cover the grants that were awarded during that time and highlight other key metrics. The fifth quarter began in August and will span until the end of December (or once AGD’s renewal proposal is voted on in the coming weeks). Below is a timeline of AGD’s funding for the month of November including the fifth quarter of the program.
Grants Summary
Total numbers for the grants program’s spending are listed below starting from mid-May of 2021 when the program began up until the end of November.
- Total Grant Applications Received: 1283
- Total Applications Approved: 183
- Acceptance Rate:
- written(stage 1): 10%
- video call(stage 2): 66%
- Total Amount Dispersed: $6,541,068
- Amount Dispersed This Term: $1,834,937
- Amount Left to Disperse This Term: $542,763
- Complete Milestone-Based Grants: 83%
- In-progress/Incomplete Milestone-Based grants: 17%
- Amount and Quantity Approved by Category:
- Applications and integrations (70) ($2,390,000),
- Code audits (2) ($120,000),
- Committees & DAOs that serve Aave’s ecosystem (18) ($950,000),
- Community (marketing and educational) (41) ($636,250),
- Developer tooling (12) ($697,500),
- Events / Hackathons / Sponsorships (12) ($210,000),
- Other (8) ($394,900),
- Protocol development (16) ($401,000)
November Approved Grants
This last November we received 141 grant applications, (over 40 more than in October) and sent out funds for 10 new grantees. In total, the 10 awarded grants amounted to a cumulative $69,800 in funding across single and tranche-based payments. The 10 awarded grants fell into five of the standard categories we use with Community (marketing and education) being the most awarded.
The average grant size was $6,980 with the most commonly awarded amount being $5k. Listed below are the awarded grants for November ranging from largest to smallest by funding size:
-
Grant Name - $ total grant amount(payment type) - grant type
- grant description - “grantee self-description”
- use of funds
-
Tally - $20,000(full) - applications and integrations
- Tally is an interface for interacting with on-chain DAOs - grant is to integrate Aaves governance contracts into Tally UI so that users will have another great place to interact with Aave DAO on-chain
- funds will be used for the integration costs of Aave on-chain proposals along with the full feature set Tally’s UI offers for other DAOs on its platform
-
Trust Protocol - $15,000(full) - applications and integrations
- “Trust Protocol is building composable trust infrastructure to enable a more humane web3 ecosystem. We’re developing user-centric trust graphs and trust staking. By doing so, we are able to bring massive unlocks to the space, where we can unlock more value in DeFi, bring people closer together, and enable a more flourishing ecosystem!”
- funds will pay for a front-end designer, marketing costs, legal compliance, and a data scientist that will test the flow of their smart contract architecture through an already arranged pilot program in Guatemala
-
Eth Gathering - $6,000(full) - events / hackathons / sponsorships
- Eth Gathering hosted an event in Barcelona from Nov 14th-20th gathering builders from across the space
- funds will go towards promoting the Aave brand and helping directly sponsor the event
-
Aave for Africa - $6,000(full) - events / hackathons / sponsorships
- Aave for Africa is an initiative from Gaborone Botswana by team members of Satoshi Center who will conduct a series of community meet-ups and technical training workshops around Aave
- funds are for sponsoring set of events and spreading Aave awareness in local areas
-
DeFi for all - $5,000(full) - protocol development
- an app built by a solo dev that helps users understand DeFi more easily and deposit their tokens into the different Aave v2 and v3 lending pools
- funds will be used to migrate existing MVP to Aave V3 and add more features like gasless transactions, analytics, and user dashboard
-
Entangle - $5,000(full) - committees & DAOs that serve Aave’s ecosystem
- “Entangle unlocks increased liquidity for AAVE utilising synthetic vaults/replications made available on non-native chains. With each Synthetic Asset backed by physical collateral, Entangle allows users to borrow EnUSD against their synthetic yield bearing collateral. As a result, this increases “stickiness” of liquidity provided to AAVE, whilst maximising yield options for users. Additional innovative use cases to cement liquidity within AAVE vaults are to be announced. A win:win:win for Aave, Entangle and DEFi Users!”
- funds will pay for part of Aave synthLP lending/borrowing pools (backed 1:1 by liquidity deposited into Aave pools) on every chain integrated within Entangle
-
Peeranha - $5,000(full) - community (marketing and educational)
- “Peeranha streamlines knowledge management & discovery in Aave community, creates incentives for users to contribute, gives ownership of the knowledge back to the community and preserves it by storing on-chain.”
- funds will be used for creating an Aave knowledge base on Peeranha
-
Karma - $5,000(full) - committees & DAOs that serve Aave’s ecosystem
- “@showkarma_xyz tracks & analyzes governance contributions, e.g. on-chain/off-chain votes and Discord/forum discussions. Aggregated data is transformed into actionable insights, displayed via dedicated Gov Contribution Dashboard and Discourse (forum plugin).”
- funds will go to onboarding Aave and allowing Aave contributors to view governance contributions via karma profiles
-
GHO explainer videos - $4,300(full) - community (marketing and educational)
- a series of videos by the Cryptoversidad team explaining the GHO stablecoin to crypto beginners
- funds will go towards the Cryptoversidad team creating a series of animated GHO explainer videos
-
Aave documentation Spanish Translation - $2,500(full) - community (marketing and educational)
- “Cryptoversidad is translating the Aave documentation to make the Aave ecosystem more accessible to the Latinoamerican builders and users.”
- funds will be used for translating and managing the translation process
Events Summary
A breakdown of AGDs total events spending up to November since the start of the program is as follows:
- Hackathon Bounties - $124,000
- Main/Side Sponsorships - $657,895
- Digital Marketing - $935,461
- rAAVEs - $617,898
In total, this has accounted for $2,335,254 of AGD spending and can be detailed further on our website here.