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.
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)
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.
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.
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:
- neutrality; continued data support for community analysis and proposal refinement
- honesty; consistent and transparent voting and decision making
- 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:
- Fig Gowen - https://twitter.com/francisgowen
- Avi Meyers - https://twitter.com/avimeyers
- Raphael Spannocchi - https://twitter.com/raphbaph
- Ian Dobbins - https://twitter.com/dawbyinz
- Jess Huhnke -https://twitter.com/web3_analyst
Sound compelling? Delegate to us here: flipsidecrypto.eth