Introducing community.llama.xyz/aave

Governance General
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Hi all,

Today, we’re launching Llama’s Aave dashboard: a one-stop shop for the protocol and analytics about the Aave protocol and DAO. Our goal is to provide the most useful data to contributors, users, and voters of Aave to make informed decisions. For instance, it’s been difficult for contributors in the past to get data on treasury addresses across various networks, understand how much each service provider is owed and in what tokens, and even see simple breakdowns of the treasury. We hope our dashboard makes getting and using this data easier and empowers the community to make more better decisions.

Over the last few months, we’ve worked on building a robust data warehouse for Aave. This data has powered our financial reporting efforts for Aave as well as our work relating to the treasury and protocol growth.

Below, we share some highlights from the current site.

Treasury


High level data on Aave’s treasury.


An overview of Aave’s stablecoin balances and other treasury assets.


Treasury balances by instance, with links to each address.


Detailed view of all of Aave’s treasury assets. Community members can download a CSV in order to manipulate the data or create their own reports.

Today, the website contains the following sections:

  • Treasury - summary and detailed data on Aave’s treasury holdings
  • Proposals - links to all of Aave’s governance proposals
  • Reports - links to Llama’s financial & runway reports
  • Llama - monthly updates on Llama’s work

In the coming weeks, we plan to add additional data to this website, including data on:

  • Aave’s runway. Users will be able to see an overview of Aave’s service providers, stablecoin balances, and the assets owed to various service providers. We hope this data will help the community make smart decisions about onboarding and paying its service providers.
  • Aave Grants DAO
  • Aave financials dashboard (supplementing our PDF reports)
  • Protocol metrics

We’d love for this page to be highly useful to the Aave community. If you have feedback or ideas for data that you’d like to see on the UI, please feel free to share in the comments below.

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Hi everyone, we’ve gotten some really positive feedback on this page so far and would love to hear your thoughts/input to learn how we can make the dashboard even more useful for Aave community members. Please feel free to comment below or message anyone at Llama with your thoughts!

As we update the dashboard, we’ll continue to post updates below.

Runway Analysis

Excited to share that we’ve added a Runway section to our Aave dashboard! You can view it at community.llama.xyz/aave/runway.

Our goal with this dashboard was to give the community an overview of Aave’s third party vendor obligations, stablecoin balance, and AAVE-denominated runway.

In preparing the analysis, we’ve made several assumptions:

  1. Monthly Spend (Stablecoins) is determined by amortizing service providers’ stablecoin payment over the life of their respective contracts.
  2. Where applicable, we’ve assumed that service providers earn all relevant bonuses and incentives (i.e., Gauntlet’s Insolvency Refund and Llama’s KPI bonus).

Given today’s revenue (3 month trailing average) and monthly stablecoin spend on third party vendors, the DAO is roughly at breakeven on its stablecoin-denominated expenses. Note that this does not include any potential revenue from the launch of GHO or other future projects.

A list of Aave’s vendors, along with their contract details, are shown in the table below. We’ve amortized these stablecoin and AAVE costs to come up with a monthly spend of $1.5m in stablecoins and 6.1k in AAVE. Hovering over the datapoints in the table will provide more details, such as how much of the value has been withdrawn from a contract’s stream.

We also wanted to provide an overview of the DAO’s actual stablecoin position, considering all vendor obligations. For instance, many vendors have streams denominated in USDC; while USDC is the largest stablecoin holding in the treasury today, once all vendor streams are paid, the DAO will hold just $4.2m of USDC. We hope this will be useful to community members when assessing future proposals for funding.

Finally, we considered Aave’s AAVE-denominated revenue. Aave currently has 1.3 million AAVE in the Ecosystem Reserve. It pays roughly 6.1k AAVE to vendors in monthly costs, and 33k AAVE in Safety Module rewards (1,100 AAVE/day). At this rate, Aave has 2.7 years of AAVE-denominated runway.

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Great work and awesome insights!

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Hi Llama folks -

Thanks for setting this up. Looking at the last line, which seems to be most important:

Seems like this can be interpreted as 2.7 years of runway, as represented in the graphic.

How does this compare to other DAOs? It would be interesting to see the relative strength of this number.

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Hi @fig, thanks for catching this - the post’s been updated to reflect that.

To clarify, the stat that you’re referring to is AAVE-denominated runway (e.g. considering Aave’s AAVE-denominated expenses, like SM rewards and the AAVE-denominated portion of vendor payments). While this is an important stat, it’s best understood in conjunction with the stablecoin runway mentioned above. The main driver of the AAVE-denominated runway is SM rewards, which can be adjusted over time to lower the impact on the Ecosystem Reserve.

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Hi all, we’d like to take the chance to highlight two recent additions to our Aave dashboard.

Aave Grants Dashboard

Aave Grants is a community-led grants program to fund ideas submitted by the Aave protocol’s community, with a focus on empowering a wider network of developers, DeFi projects, community builders, and anything that helps the broader Aave Ecosystem. AGD was most recently renewed via AIP-145.

This dashboard tracks Aave Grants’s expenditures across various categories and time frames and provides data on Aave Grants’s current token holdings. Aave Grants currently holds ~10.8k AAVE tokens worth about $726k.

Since inception, Aave Grants has distributed nearly $8m in funding to events, tooling, and products to support and expand the Aave ecosystem.

Safety Module Dashboard

A unique part of Aave’s design is its Safety Module (SM). AAVE holders (Ethereum network only) can stake their AAVE in the Safety Module to secure the protocol and earn rewards. In the case of a shortfall event, up to 30% of a staker’s stake can be slashed to cover the deficit, providing an additional layer of protection for the protocol.

Currently, the Safety Module has $338.7m of stkAAVE and stkABPT, resulting in protocol cover of ~$100m (30% of the total SM). The protocol emits 1,100 AAVE per day in staking rewards to stakers.

We’ve added a dashboard with data on Aave’s Safety Module, including:

  • Historical value of the Safety Module
  • Historical APR of Safety Module
  • Composition
  • Protocol cover
  • Emissions
  • Premiums relative to cover
  • TVL of pools covered by Safety Module
  • Percentage of TVL covered
  • Number of stakers
  • Distribution of stakers in the Safety Module

If you’d like to see other datapoints on the Safety Module, please feel free to share your thoughts below.

Other New Features

Toggle the Ecosystem Reserve in the Treasury

  • You can now choose whether or not to include Aave’s Ecosystem Reserve in historical and current treasury balances by using the toggle in the top right of the Treasury dashboard.
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Thank you @Llamaxyz ! Love the new update

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The update looks great :+1:

  1. “Number of Grants Approved” - Could it possible to provide a more indepth breakdown; rather than 8, it says COUNT/Total 8, followed by an individual breakdown of the grant domain i.e.

    1. Community:3
    2. Protocol development: 3
    3. Dev Tooling: 2
    4. Code Audits: 1

  2. It would also be helpful to see how many grants within a domain have been funded in the past 6m/12m etc.