[ARFC] Aave Events & Sponsorship Proposal 2024

Governance
1

Summary

This ARFC proposes the Aave DAO budget allocation on events at key ecosystem initiatives at EthCC and Devcon to help to reinforce Aave Protocol’s unique and positive culture, share technical knowledge, and attract new community members. These initiatives are aimed at helping to continue the expansion of the DeFi ecosystem by showcasing Aave Protocol’s core values. Thank you for reviewing this proposal and for your earlier questions and positive vote in the snapshot.

Motivation

Aave Protocol has consistently been at the forefront of DeFi innovation with pioneering features. With a strong emphasis on security, usability, and composability, Aave has amassed a vibrant and engaged community of developers, users, contributors, and stakeholders.

Although the Aave Protocol has emerged as a leader within DeFi, the sector at large is still in its nascent stages, and Aave should work hard to retain its spot as a leader. For the events proposal from the DAO for 2024, Aave Labs wants to concentrate on proposing fewer but higher-quality events to maximize impact.

Specification

Aave Labs is requesting a budget allocation for 650,000 GHO for events for the remainder of 2024 for EthCC Brussels (45%) and Devcon Bangkok (55%). These initiatives will serve multiple purposes:

  1. Hackathons & Bounties: We want to encourage developers to build on Aave Protocol, as well as GHO. These hackathons not only provide a platform for the Aave community to connect with talented developers in both web3 and web2, and to remain visible and competitive in a growing industry, but also lead to the creation of innovative DeFi projects that enhance the Aave ecosystem. We propose to sponsor one ETHGlobal hackathon in Q4 in Bangkok.

  2. Open Finance Day: We are hosting Open Finance Day in partnership with key players in DeFi for high quality talks, networking, and light bites. Talks will include members of the DeFi community, Aave Labs, and Aave DAO community members and service providers.

  3. Side Events: Hosting side events alongside major conferences is an opportunity to increase community awareness, foster connections, and share technical knowledge, and industry insights. Typically featuring panels, workshops, and discussions led by industry experts, side events are designed to strengthen awareness of Aave and GHO technology among strategic audiences, reach new target audiences, and ensure Aave and GHO remain top-of-mind within and outside the community.

  4. Merch: Aave Labs seeks to create highly coveted Aave and GHO branded merchandise to distribute at events, as part of community engagement and awareness-building efforts as well as to proliferate the new visual identity and the beloved Ronnie ghost. Aave Labs will continue to push for the use of sustainable materials and creation of merchandise people actually wear, use, and love.

  5. rAAVE: To celebrate the Aave community’s welcoming culture, we aim to host two more editions of the flagship rAAVE event. Throughout the past years rAAVE has positioned itself to be the most sought after event in the ecosystem. They foster community spirit and create memorable experiences. We will integrate the GHO Pass for ticketing logistics and manage press relations and social media to maximize awareness and inclusion. This year’s events will be hosted at EthCC in Brussels and Devcon in Bangkok. To mitigate some costs for rAAVE, we are planning to potentially obtain co-sponsorship with current or potentially new partners for the Aave ecosystem. Due to the event’s high visibility, it is crucial that if co-sponsorship is obtained, the selected partners are aligned with the Aave Community and this is conducted in a balanced manner.

Activations

Name Date Details
rAAVE July & Nov TBD During the weeks of EthCC & Devcon. rAAVE brings the community together, helping to strengthen Aave’s culture and differentiate Aave’s ecosystem. The plan is to host two rAAVEs during the course of this proposal.
Open Finance Day July 9 In partnership with Chainlink, Uniswap, and Aptos we would host an Open DeFi Day for talks, networking, and light bites during EthCC week. Talks will include members of those communities, Aave Labs, and Aave DAO community members.
ETHGlobal Bangkok Nov 15-17 Sponsorship of one ETHGlobal hackathon, ETHGlobal Bangkok, focusing on quality developers.
Devcon Q4 This will be the event of the year in the Ethereum community. Hosted by the Ethereum Foundation, this event will be one of the most attended web3 events of 2024.
Side Events Q4 Side events currently being considered include: SheFi Summit (Brussels, Singapore, Bangkok), DeFi Security Summit by Certora during Devcon, Stable Summit Brussels. Funds from any side events that are not confirmed will be rolled over to the next potential side event.

After covering the aforementioned main sponsorships, any remaining budget will be directed towards side events related to the security of DeFi and smart contract technology. Any excess funds from this grant will be rolled over to be used for events during Q1 2025. A recap on last year’s events was posted to governance last December, here.
Aave Labs shall cover all expenses for its team members, and this proposal does not request any funds for these expenses, or include any compensation for Aave Labs’ work.

Next Steps

  • Secure community feedback on ARFC
  • Snapshot vote
  • If Snapshot is successful, then move to AIP

Conclusion

We believe that the proposed one-off budget allocation of 650,000 GHO for activations and events for the remainder of 2024 will not only help enrich the Aave Protocol ecosystem, but will foster innovation, inclusivity, and recognition.

We look forward to the DAO’s support for this proposal for these events during 2024.

3 Likes
2

Broadly in accord with the proposal and revised budget but do have some general questions about rAave after reading so much about the unique Avve Community in the proposal

Selection Criteria
-What percentage of rAave tickets will go to Aave Dao members, service providers,
contributors etc
- What are the specific criteria for selecting those who will receive rAave tickets?
- Will there be any form of lottery or random selection involved?
- Are there any prerequisites for Aave DAO holders to be eligible for ticket selection (e.g., participating in governance, holding a minimum number of tokens)?
-
Co-Sponsorship:
- What is the process for selecting potential co-sponsors for the rAAVE events?
- How will the alignment of potential partners with the Aave Dao be assessed?
-
Press Relations and Social Media:
- What strategies will be employed to manage press relations and social media to maximize awareness of the rAAVE events & bring benefit to Aave Dao?
-
Cost Mitigation:
- What are the estimated costs for hosting the rAAVE events?
- How will the potential co-sponsorship help in mitigating these costs?
- Are there any other strategies being considered to reduce the overall costs of the events? e.g Am sure some member of the Aave community can DJ!

3 Likes
3

Thank you for your comments MrKris. Please find the answers to your specific questions below.

Ticketing

Currently, we do not allocate tickets by percentage. Tickets are allocated as follows:

  1. DAO members who request tickets are provided tickets. There is no prerequisite to receiving tickets by DAO members.
  2. We actively outreach to Aave service providers and partners to allocate tickets.
  3. Tickets are also allocated to the strongest DeFi developer teams and projects.
  4. Additionally, rAAVE tickets were allocated to people who participated in Aave Open Finance Day.
  5. As you may recall, GHO passes are sold, which include a ticket. Two hundred tickets were sold garnering $20K, which was returned to the DAO.
  6. Finally, tickets are also distributed on social media on a first come first serve basis.

Co-Sponsorship

There is an opportunity to bring in a rAAVE sponsor. It is our view that a rAAVE co-sponsor could only make sense if it were an Aave integrator, DAO contributor, or a strategic DeFi partner.

PR and Socials

Aave Labs’ chief communications officer has 20+ years of experience in public relations and communications and our marketing lead on rAAVE has 6+ years of marketing experience in crypto, having been at Consensys before joining Aave Labs. All marketing, social and press activities on behalf of rAAVE are conducted internally without support of an agency. As a result, rAAVe has garnered favorable press in publications such as the Economist and broadcasts such as CNBC as well as extensive social traction prior to, during, and following the event. This coverage is completely organic and a testament to how unique rAAVEs are - we don’t pitch anyone to come report on the event.

Cost Mitigation

  1. All communications and event activities/costs on behalf of the DAO are carefully reviewed for impact. We seek the most cost-effective, safe, and appropriate venues, and seek to manage costs associated with merchandise, DJs, beverages, etc.
  2. Without providing a direct breakdown of the costs per earlier discussions, rAAVE is a welcoming event that creates a favorable brand impression of the Aave community. Anywhere there is an opportunity to cut costs without jeopardizing the integrity of the event, we take. We conduct analysis of costs as a matter of best practice for all Aave expenditures to make sure that every expenditure is made wisely and is accounted for.
1 Like
4

This ARFC has now moved to snapshot here.

5

With the ACI, we’re supportive of this proposal, and we have voted accordingly.

6

We support this revised budget which includes the feedback from delegates.

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