Flipside Crypto Delegate Platform

Delegate Address: flipsidecrypto.eth
Forum: @fig @avi01
Email: governance@flipsidecrypto.com
Website: https://flipsidecrypto.xyz/

As long-time supporters and users of Aave, Flipside Crypto is excited to invest our time and resources as delegates. We believe in the future of this community and DAO and the importance of full-time representation within the governance process.

About Us

Why come to the forum?

Aave delegation is significantly lacking. It is a critical time in the protocol’s growth and progression toward decentralization, worth investing in full-time resources. The tide is turning.

We are a governance team, with 5 full-time members, helping drive the efficiency of this critical piece of protocol health. We currently run delegation in multiple Ethereum-based DAOs:

  • MakerDAO (4th largest delegate, 9,005 MKR)
  • Optimism (217,040 OP, representing 736 delegators)
  • ENS
  • Hop

Our focus is not only on Ethereum - we are also involved in other scaling, L1, and L2 governance mechanisms; Osmosis, and Algorand, leading to important cross-chain knowledge.

Why Us

Flipside has been an inaugural player within Aave and offers unique insight and decision-making; we are rational and human empowering builders for the long term.

A few successful examples of our work and impact:

Aave Delegation Tracker illustrates the rudimentary stage of delegation within the protocol.

We built this in response to Penn Blockchain’s platform and as a way to inform users and our team about the state of governance within the protocol.

As a team, we noted the defect in renewing another liquidity mining proposal, this time round #5, on the Ethereum V2 market, see our post here.

Our analysis found that 19% of all rewards went to his majesty Justin Sun alone…

This is around 111,989.69 tokens to a single individual.

Furthermore, it didn’t seem to have a tangible effect on user growth; the efficacy of these programs seemed to be waning. You can read our input here.

This insight seemed to lead to a pause in the discussion, saving Aave 77,616 tokens - or at the time of writing around $7.4mm per quarter.

Lastly - an Aave Liquidation Calculator, to show the risks of liquidation for each address. This tool was made to inform and educate users, protecting bottom-line growth.

This was all organic support, as we believe Aave is a pinnacle of Ethereum DeFi and its success means success for the greater industry.

Our Team

As a governance organization, we continue to support Aave and optimize its success for the long term. We believe that delegates should be truly value-add.

We pledge this:

  1. neutrality; continued data support for community analysis and proposal refinement
  2. honesty; consistent and transparent voting and decision making
  3. accessibility; collaboration with other delegates, token holders, and community members

For voting - we utilize Snapshot as a tool to align our positioning on different votes: a form of private metagovernance. Full-time team members have 1x and interns have .5x voting power.

Our team members are as follows:

Sound compelling? Delegate to us here: flipsidecrypto.eth

Or, 0x62a43123fe71f9764f26554b3f5017627996816a

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Hi team - updating the forum on what we’ve been up to and why.

Below is a list, spanning from September 30th - of our rationale and decisions on Aave votes:


Risk Parameter Updates for Aave V2 ETH (2022-10-06) - voting YES

Rationale: A regular risk paramter update, focused on two key crypto assets (stETH & wBTC). This amendment lowers the amount of value at risk across the protocol, while simultaneously increasing borrowing.

Use AAVE Ecosystem Reserve to vote YES on proposal - voting YES

Rationale: We support leveraging the ecosystem reserve to more efficiently upgrade Aave’s governance and set Level 2 Governance requirements.

Adjust Aave Governance Level 2 requirements - voting YES

Rationale: We are supportive of continued refinement and development of Aave’s Governance system. We are appreciative of the new parameters which make Aave’s governance simple, inclusive, and robust.

Ethereum v2 Reserve Factor - aFEI Holding Update - voting YES

Rationale: A natural risk management proposal that will amend the FEI lending market in preparation for the risks to emerge with the transition Tribe DAO to a terminal state.

Llama <> Aave - voting YES

Rationale: Llama team invested time to incorporate feedback from multiple stakeholders. They have been long-standing contributors to Aave. The amended scope is reasonable and further aligns the DAO and Llama team through KPIs while driving valuable insight and services over 12 months.

Risk Parameter Updates for Aave V2 (2022-09-22) - voting YES

Rationale: Simulations show that with these parameter updates, Aave can increase capital efficiency while decreasing the risk of bad debt. This will maintain the overall risk tolerance of the protocol while making risk trade-offs between specific assets.


This is only a few of our updates and inolvement since attracting delegation in Aave DAO. For more up-to-date voting matrixes and Snapshot / on-chain rationale check out our Weekly Recap on Medium.

Here we will summarize our participation across a myriad of DAOs - especially Aave.

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All Aave proposals Flipside voted on since 10/21/22 are listed below. We release our voting and rationales in our weekly recap, so click the recap links for more information.

10/21/22 Recap
Whitelist Balancer’s Liquidity Mining Claim
FEI Reserve Factor Update

10/28/22 Recap
Risk Parameter Updates for Aave V3 Avalanche: 2022-10-15
[ARC] Aave v3 Polygon wMATIC Interest Rate Update
Add TRYB to Aave V3 on Avalanche Network, Isolation Mode
Add Login With Unstoppable as an option to the wallet connect dialog of the Aave app

11/4/22 Recap
Deploy Aave V3 to zkSync 2.0 Testnet
Security and Agility of Aave Smart Contracts via Continuous Formal Verification
ARC: Staked ATokens, A New Aave Primitive Exploring Vote-Escrow Economies
ARC: ERC4626 Strategies as Productive Collateral
Chaos Labs Risk Platform Proposal

11/11/22 Recap
Strategic Partnership with Balancer DAO Part 2 - 100k BAL Acquisition
Certora Continuous Formal Verification

11/18/22 Recap
Add OP to Aave V3 on Optimism
Risk Parameter Updates for Aave V2 ETH Market (2022-11-12)
Risk Parameter Updates for Aave V2 ETH Market (2022-11-13)
Risk Parameter Updates for Aave V2 ETH (2022-11-13)
[ARC] Gauntlet <> Aave Renewal
ARC: Enable USDT as collateral on Aave V3 (Avalanche)

11/25/22 Recap
[ARC] Gauntlet <> Aave Renewal
[ARC] ETH Interest Rate Curve Update
[ARC] Strategy on sunset of Aave v1
[ARC] stMATIC & MaticX Emission_Admin for Polygon v3 Liquidity Pool
[ARC] Aave V3 Ethereum Deployment: Assets and Configurations Part 1
[Temp Check] Add Support for cbETH for Aave V3
Risk Parameter Updates for Aave V2 (2022-11-17)
Pause LINK Borrowing
Pause UNI Borrowing

12/2/22 Recap
Risk Parameter Updates for Aave v2 Ethereum Liquidty Pool
Risk Parameter Updates for Aave v2 Polygon
BGD. Aave <> ParaSwap fee claimer

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