Q1 2023 Financial Report
@Llamaxyz would like to present our Q1 financial report to the community.
Q1 has seen big developments within the Aave ecosystem, including the launch of Aave V3 on Ethereum. It also saw the renewal of Aave Grants DAO, which aims to grow the protocol and its contributor pool. Coupled with this, we have seen strong increases in quarterly revenue, with the protocol now being in a CF positive runway position.
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Strong V3 performance has resulted in a growth in anticipated revenues for the year. Utilizing a 3 month trailing average, we expect annualized revenues to be in excess of $25m.
We have seen positive growth across most key financial measures from Q4 in 2022 to Q1 in 2023, this can be attributed to more favourable market conditions but also the release of new Aave markets.
Revenue for the quarter totalled $7m.
We have recently developed our aave community dashboard and we encourage everyone interested in Aave to go and check it out.