Llama Month 8 Update

Llama Month 8 Update

Hi everyone, we would like to share our monthly progress report and field any questions from the Aave community.

As a reminder, our areas of focus are:

  • Protocol upgrades
  • Treasury management
  • Analytics
  • Growth

We’re planning to host our next Llama <> Aave community Twitter Spaces on June 8, 2023 at 11:00 am ET - we hope you’ll join us!

Highlights

You can find all this information and more at community.llama.xyz/aave.

Actions Taken This Month

Task Actions Taken Notes & Commentary
Safety Module Performance Launched Safety Module dashboard on community.llama.xyz.
Accounting Reports Launched Aave Grants dashboard on community.llama.xyz.
Grow Aave’s Revenue Proposed and executed AIP-225: LST Supply Cap Increase Polygon & Arbitrum
Other Proposed and executed AIP-228: AGD Approval Corrects the Aave Grants’ aUSDT allowance that was previously incorrectly set.
Grow Aave’s Revenue Proposed and executed AIP-229: MaticX Supply Cap Increase Polygon v3
Grow Aave’s Revenue Proposed and executed AIP-231: wMATIC Supply & Borrow Cap Increase Polygon v3
Grow Aave’s Revenue [ARFC] Increase wstETH Supply Cap on Polygon v3 Executed via AIP-225
Grow Aave’s Revenue [ARFC] Increase stMATIC SupplyCap
Grow Aave’s Revenue [ARFC] wstETH Supply Cap Increase Arbitrum v3 Executed via AIP-225
Grow Aave’s Revenue [ARFC] wMATIC Supply & Borrow Cap Increase Polygon v3 16.05.2023 Increase Supply & Borrow Cap wMATIC on Polygon v3.

Executed via AIP-231
Grow Aave’s Revenue [ARFC] Ethereum v3 Supply Cap Update 18.05.2023 Increase the Supply Cap for wstETH and rETH on Aave Ethereum v3
Grow Aave’s Revenue [ARFC] Polygon & Arbitrum v3 Supply Cap Update 19.05.2023 Increase the Supply Cap for wstETH on Aave Polygon and Arbitrum v3
Grow Aave’s Revenue [ARFC] Optimism v3 Supply Cap Update 20.05.2023 Increase the Supply Cap for wstETH on Aave Optimism v3
Grow Aave’s Revenue [ARFC] Optimism Create ETH E-Mode
Grow Aave’s Revenue [ARFC] Polygon v3 Supply Cap Update 2023.05.21 Increase SupplyCap stMATIC on Polygon v3 from 30M units to 40M units.
Accounting Reports April 2023 Financial Report Key takeaways:

Revenue totaled $4.7m in April. Total treasury holdings totaled $130.7m. TVL stood at $7.9b.
Develop a Data Warehouse for Aave Continued development of Aave’s data warehouse which powers financial reporting and Llama’s Aave dashboard.
Claim Revenue to Treasury for Aave V3 Continued weekly treasury claims for Aave V3 deployments.

We thank the Aave community for their support! Please feel free to share any questions or feedback on our work.

If you’d like to get these updates directly to your email, sign up for our email list here.

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Forward Guidance Update

Hi Everyone,

Llama intends to more frequently provide forward guidence spanning the various initiatives we are working on for Aave DAO in the near term.

Our Month 9 update will be the first monthly update that incorporates a forward looking insights into what we have scheduled in the Aave roadmap.

This publication presents various initiatives, each within there respective verticle.

Growth

Supply Caps

Llama shall continue to focus on growing the adoption of Aave by proactively contributing to the management of Supply and Borrow Caps that support/encourage products/strategies to be maintained/built on Aave. This spans numerous teams which are building/built on Aave.

Asset Listings

  • swETH (Ethereum - pending Redstone oracle)
  • osETH (Ethereum - pending launch & oracle)
  • ETHx (Ethereum - pending launch) @MarcZeller is picking up this one
  • cbETH (Expansion beyond Ethereum) @MarcZeller is picking up this one
  • rETH (Optimism - pending Chainlink Oracle)
  • divETH (Ethereum - pending launch & oracle)
  • tBTC (Arbitrum - pending oracle)
  • GMX (Arbitrum - pending Snapshot)
  • truMATIC (Polygon - pending launch & oracle)
  • OHM (Ethereum)
  • BADGER (Ethereum - pending sentiment pivot)

Balancer Focused

  • rETH/bb-a-wETH (Ethereum) - ongoing
  • wstETH/wETH Redirect Incentive Flywheel to wstETH/bb-a-wETH (Ethereum) - ongoing
  • OHM/bb-a-wETH Gauge Proposal (Ethereum) - ongoing
  • OHM/bb-a-DAI (Ethereum)
  • bb-w-wMATIC/bb-a-USD (Polygon)
  • smBPT Gauges Concept Sentiment check (Ethereum)
  • Explore Balancer + Aura Grant for SM Integration Audit costs

Analytics

  • Develop indicies to serve as a benchmark for Aave’s treasury holdings
  • Compare performance of each Treasury/Collector Contract to the benchmark
  • Performance metric/tracking of Treasury holdings
  • Continue to add to the Safety Module analytics User Interface
  • Periodic financial reporting

Treasury Management

  • Acquire 80BAL-20WETH
  • Acquire veBAL
  • Introduce “TBA” Strategic Asset Manager contract to Aave Community
  • Introduce “Curator” to Aave Community, to be used for consolidating assets on Ethereum.
  • Consolidate Treasury and acquire LSTs via the Curator contract
  • Repurpose the Curator with streaming contract to support creation of a Bad Debt budget/management contract.
  • Continue to claim Aave’s monthly revenue contracts

Safety Module

  • Consolidated Part 1 to Part 3 into a single [ARFC] publication.
  • Progress Part 4 of 6 through Snapshot
  • Progress Part 5 of 6 through Snapshot

The above is a non exhaustive list of various initiatives that Llama is planning to deliver to Aave DAO in the near to medium term. Other initiatives may arise that will be evaluated and then prioritised ahead of initiates mentioned above.

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