AGD Renewal 4: Recent work Updates

- July 2023


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 July.

  • Total Grant Applications Received: 2097
  • Total Applications Approved: 249
  • Acceptance Rate:
    • written(stage 1): 12%
    • video call(stage 2): 75%
  • Total Amount Dispersed: $4,852,753
  • Complete Grant Payments: 85%
  • In-progress/Incomplete Grant Payments: 15%
  • Status of all grants:
    • Complete/Live - 67.6%
    • In-progress - 24.8%
    • Inactive - 7.6%
  • Amount and Quantity Approved by Category:
    • Applications and integrations (108) ($2,664,556),
    • Code audits (3) ($82,000),
    • Committees & DAOs that serve Aave’s ecosystem (18) ($703,780),
    • Community (marketing and educational) (52) ($698,550),
    • Developer tooling (13) ($415,000),
    • Events / Hackathons / Sponsorships (14) ($185,000),
    • Other (12) ($294,900),
    • Protocol development (21) ($474,200)

July Approved Grants

This July we received 105 grant applications and sent out funds for 9 new grantees. The 9 awarded grants totaled a cumulative $121,000 in funding across single and tranche-based payments. The 9 awarded grants fell into three of the standard eight categories we use with Application and Integrations being the most awarded. Listed below are the awarded grants for July 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
  • Range Protocol - $35,000(tranche) - applications and integrations
    • “For the network effects to play out for GHO stablecoin, it is essential that there is deep on-chain liquidity for GHO stablecoin against other stablecoins and large-cap assets like ETH, wstETH, wBTC, and alternate L1 assets like MATIC, BNB etc. At Range Protocol, our vision is to be a lego in making the decentralized markets across different asset classes more liquid and efficient. All the grant’s proceeds will be used to incentivize the liquidity of the GHO vaults.”
    • all grant funds will be used to incentivize the liquidity of Range Protocols GHO vaults
  • Loan Metaprotocol for Ethereum Mainnet - $25,000(tranche) - protocol development
    • Hackathon builders from ETH Waterloo who made the project Roll a Mate are continuing to build out their application with a two-tranche grant. Roll a Mate will allow loan repayments on mainnet at micropayment costs
    • funds will go toward protocol development and testing of microloan metaprotocol along with later releasing a final version
  • LangWallet - $20,000(full) - applications and integrations
    • “LangWallet is the first fully interactive AI crypto wallet. It allows users to make transactions and query anything happening on the blockchain through conversation - text or voice. The integration with Aave will allow users to borrow, lend and ask questions about Aave through natural language - e.g. “Which token that I hold that has the highest yield on Aave? Lend 40% of it.” Our aim is to bring new users to Aave - many of which are new to crypto and DeFi. We’ll also be hosting our service as an API so anyone can extend and build upon it.”
    • funds will pay for two devs time to develop and train the LangWallet and it’s AI features
  • YaspFi - $13,000(full) - applications and integrations
    • YaspFi is building a one-stop shop for DeFi newcomers as well as for any users looking for a simpler UX. Their grant will be used to integrate Aave as the main leverage provider in their upcoming leverage tool.
    • funds will be used for integrating and testing Aave as the main leverage provider and providing Aave-based investment strategies for new assets and chains.
  • AwesomeQA - $10,000(full) - community (marketing and education)
    • “AwesomeQA provides the best possible customer support for the AAVE community by automatically answering repetitive questions, giving insights on the frequently asked questions, and democratizing web3 support knowledge.”
    • funds will cover operational costs for AwesomeQA’s maintenance in the Aave discord
  • Nilla Connect - $7,500(full) -
    • @NillaConnect is a universal P2P leverage optimizer that helps Aave to utilize idle funds better through leverage, making cost of funds cheaper and generating better returns for users, hence bringing radical efficiency to Aave.”
    • funds will go to the development and testing of NillaConnect’s leverage optimizer
  • Concero - $5,000(full) - applications and integrations
    • “We will launch our staking aggregation in September and will integrate Aave into it so our users will be able to stake into Aave pools and compare them to other pools. Also, because we are launching a cross-chain Dex aggregator this will allow our users to swap from any chain and stake into Aave pools.”
    • funds will go to launching and marketing the app
  • Mobile aave positions watcher - $3,500(full) - applications and integrations
    • @aavealarm is a mobile app that monitors your Aave positions and notifies you of critical events like low health factors or liquidations.” Meet Alexey and learn more about the app in their introduction post.
    • funds will cover the solo dev’s time spent building the app along with an App Store license fee
  • Breezepay Merchant Rewads - $2,000(full) - applications and integrations
    • Breezepay is a crypto payments-focused team building tools for everyday users to pay with crypto easily. Their Aave integration plans to use both borrowing and lending on Ethereum mainnet to facilitate a smoother payments experience
    • funds will go toward integration development and beta testing of their initial product

Events Summary

Sponsored 3 prizes at the ETHArgentina hackathon to encourage developers to build with GHO, integrate Aave, and create applications to improve governance.

In September AGD will be at ETHGlobal NYC to help drive more builders to GHO. If you are planning on attending and want to hack on Aave, follow our Twitter where we will be announcing prizes for building on Aave or GHO and how you can engage with the team.

Ongoing Updates

With July being the sixth month since AGD’s last renewal proposal we plan to put up a continuation proposal soon. AGD will operate as is before then - grant applications and funding will remain open!

Thanks for reading our July report. If you have any comments or feedback we look forward to reading them below.