Title: [ARFC] Renew LlamaRisk as Risk Service Provider
Author: @LlamaRisk
Date: 2024-10-02
Summary
We’ll keep this short. When we initially applied to serve Aave as a risk service provider, our primary goal was to deliver complementary and collaborative work alongside @ChaosLabs, focusing on qualitative analysis, ad hoc research, and legal/regulatory advisory.
Five months later, we are confident that we have fulfilled this commitment, a sentiment that numerous delegates and service providers have echoed. Our work has made a significant impact on safely integrating newly onboarded assets, and we have fostered a great relationship with @ChaosLabs, holding regular meetings, aligning internally, and driving informed decisions. Although most of our work is publicly available through monthly community updates, we have made several positive contributions behind the scenes. These include advocating for bug bounty programs, improved access controls, and increased transparency for end users.
Our staged onboarding plan has allowed us to manage the allocated budget prudently, with a steady increase in workforce and dedicated resources to Aave. As a reminder, LlamaRisk is a community-led, non-profit organization that aligns with Aave in making the protocol as secure and resilient as possible. All funds are directed towards contributor compensation, tooling, and other expenses related to Aave.
Scope
As we enter the next engagement phase, we request a six month engagement with a monthly budget of $70,833, representing a 19% increase over our current (month 5) spending. The total amount requested for the engagement is $425,000, to be paid either in GHO or aToken stables, at the DAO’s discretion. In addition to continuing our current scope, we plan to extend the following services to the Aave DAO:
- Risk Monitoring: Liquidity depth monitoring and analysis for Aave markets, including visualizations, which will aid our ad hoc research efforts and inform our recommendations around setting suitable supply and borrow caps.
- RWA Integrations: Collaboration with Chainlink on RWAs.
- Legal Research: Enhanced legal research with emphasis on
- legal structures (including BORGs) to facilitate RWA integrations,
- analyzing the decentralization of the GHO frontend as a precursor to the larger-scale AAVE frontend assessment, and
- examining the legal implications for the AAVE token under MiCA following the AAVEnomics update.
As all indicators suggest that Aave is entering a new growth phase, we wish to continue bringing value as an independent, pragmatic, and stabilizing voice within the DAO. Many of the brightest minds in our industry serve the Aave DAO; we are enthusiastic about being among your ranks and look forward to growth and ongoing collaboration with all of you.
Specification
Create a payment stream of $425,000, either in GHO or aToken stables, to the address 0xE8555F05b3f5a1F4566CD7da98c4e5F195258B65, a LlamaRisk controlled multisig, for 6 months starting from the end of the previous engagement (Oct 28th, 2024)
Next Steps
- Gather community feedback on this ARFC.
- If consensus is reached, escalate this proposal to ARFC snapshot stage.
- If ARFC snapshot outcome is YAE, escalate to AIP stage.
Disclaimer
LlamaRisk is presenting this ARFC independently and is not compensated by any third party for creating this ARFC.
Copyright
Copyright and related rights waived via CC0.