AGD Renewal 4: Recent work Updates

- August 2023


This update covers grants given during August by the Aave Grants DAO along with an update on our proposal to continue Aave Grants for 6 months.

Screenshot 2023-09-14 at 4.26.47 PM

Grants Summary

Total numbers for the grants program’s spending are listed below starting from mid-May of 2021 when the program began until the end of August.

  • Total Grant Applications Received: 2176
  • Total Applications Approved: 255
  • Acceptance Rate:
    • written(stage 1): 12%
    • video call(stage 2): 74%
  • Total Amount Dispersed:$4,845,753
  • Complete Grant Payments: 86%
  • In-progress/Incomplete Grant Payments: 14%
  • Status of all grants:
    • Complete/Live - 67.6%
    • In-progress - 24.8%
    • Inactive - 7.6%
  • Amount and Quantity Approved by Category:
    • Category - $cumulative cost - number approved
    • Applications and integrations - $2,664,556 - 108 grants
    • Code audits - $82,000 - 3 grants
    • Committees & DAOs that serve Aave’s ecosystem - $703,780 - 18 grants
    • Community (marketing and educational) - $698,550 - 52 grants
    • Developer tooling - $415,000 - 13 grants
    • Events / Hackathons / Sponsorships - $185,000 - 14 grants
    • Other - $294,900 - 12 grants
    • Protocol development - $474,200 - 21 grants

August Approved Grants

We received 105 grant applications this August and sent out funds for 8 new grantees. The 8 awarded grants totaled a cumulative $136,500 in funding across single and tranche-based payments. The 8 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 August 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
  • Compass Labs - $40,000(tranche) - applications and integrations
    • @labs_compass is integrating AAVE into dojo. Dojo is a DeFi research platform empowering DeFi investors & developers to test, train and optimize strategies & smart contracts at the EVM level. By bringing AAVE into the Dojo network, we unlock the full potential of on-chain strategy innovation decentralised financial products. Dojo: Compass Labs:”
    • funds will cover work done to integrate AAVE into the dojo network allowing strategists and smart contract developers to test, train, and optimize strategies and smart contracts at the EVM level
  • Sommelier - $35,000(tranche) - applications and integrations
    • Seven Seas Capital the team behind four of the most popular vaults on the Sommelier platform and previous AGD grantee is working on a TurboGHO vault that intends to accelerate GHO adoption and make GHO liquidity more sticky
    • funds will cover development costs split across two milestones
  • CIAN Protocol - $15,000(full) - application and integrations
    • “This grant will help CIAN accelerate the development of new delta-neutral strategy vaults using AAVE as the core lending/custody protocol.”
    • funds will go toward market analysis, development, and auditing costs or the new delta-neutral strategy vaults
  • - $15,000(full) - applications and integrations
    • Altitude is an onchain protocol aimed at actively managing collateralized debt by deploying the user’s excess borrowing capacity into Aave making borrowing more efficient for interested users.
    • grant will help fund the integration of Aave along with a second security audit
  • DeFi Simulator - Asset Risk Parameter Editor - $14,000(full) - applications and integrations
    • “This project will deliver a UI that gives anyone the ability to precisely see how a governance proposal to modify risk parameters affects any individual Aave position. Users will be able to instantly see how risk parameter changes affect health factors, liquidation prices, and borrowing power. Additionally, those participating in governance will have a new tool to understand the impacts of proposals upon relevant individual positions.”
    • funds will pay for time spent designing and implementing these features
  • Aave RFPs & Service Provider ToS - $10,000(tranche) - committees & DAOs that serve Aave’s ecosystem
    • The “Aave RFPs & Service Provider ToS” is a preliminary framework intended to improve how service providers are selected and engaged with Aave DAO proposed by @benhoneill. Follow the live discussion in more detail here
    • funds will cover research, community feedback & inclusion, and delivery of this fully fleshed-out RFP process across three milestones
  • Revelo Intel - $5,000(full) - community (marketing and educational)
    • “Our Performance Reports (called Snapshots) are comprehensive reports that will analyze and contextualize important data points, metrics, and stats around Aave over a 30-day period. These reports enable users to stay updated on Aave’s financial nuances while providing insights into both protocol-specific and subsector trends.”
    • retroactive grant is for Revelo Intel’s comprehensive report on Aave
  • Laval University - Introduction to Blockchain & DeFi course - $2,500(full) - community (marketing and educational)
    • a professor at Laval University who also works in DeFi will get his students to complete a project that will require interacting with Aave V3 on Arbitrum and calculating their own account healthscores, LTV ratios, liquidation prices, and more by fetching data directly from the V3 contracts and learning by doing
    • funds will be distributed to students for them to be able to execute a few transactions

Ongoing Updates

Since August we have put up our continuation proposal which is being discussed here and requests to continue AGD with a few important changes for another six months before proposing a further revamped entity. If you want to participate in the discussion or learn more about how we see the next six months of AGD going have a read through the discussion there or see an updated version of the proposal here which will be live on Snapshot tomorrow.

Thanks for reading our August update and keeping up with the Aave grant recipients.