Saucy Block Delegate Platform

[SaucyBlock]

Key Info

Delegate Address: saucyblock.eth (0x08651EeE3b78254653062BA89035b8F8AdF924CE)
Governance tracking: Boardroom, Tally
Memeber: 0xlide(@0xlide), Yousuke Aramaki(@ywzx)
Telegram: @Lide_SaucyBlock
Twitter: https://twitter.com/saucy_block
Hey(Lens🌿): Hey
Twitter: https://twitter.com/0xLide (0xlide)
Twitter: https://twitter.com/_ywzx (Yousuke Aramaki)

Introduction

Hi, Aave Community ฅ•ω•ฅ
We are excited to announce the Saucy Block Delegate Platform as a starting point our journey.

The Saucy Block Delegate Platform pledges to act with transparency and independence, prioritizing the long-term prosperity of the Aave Ecosystem with our voting. Furthermore, our team has the capability to create all processes from TEMP CHECK to AIP and is committed to actively contributing to the growth of Aave V3 and GHO.

Delegate Statement (why you should delegate to Saucy Block)

Saucy Block was founded in 2024 by 0xlide and Yousuke Aramaki. Over the past year, 0xlide has contributed to Aave as a proposer and reviewer, while Yousuke Aramaki has over five years of experience as a blockchain engineer. We have expertise in Blockchain, DAO Governance, and DeFi Protocols, and possess the capability and strong determination to independently execute the entire process from TEMP CHECK to AIP. However, to create votes on snapshot or AIP, a certain amount of Voting Power is required. The quantity of AAVE directly held by our team does not meet this standard, requiring additional voting power from AAVE holders. Delegating to Saucy Block enables Saucy Block to fully utilize its capabilities for the development of the Aave Ecosystem.

Focus Areas

• 1. Expansion of $GHO Ecosystem
  The expansion of the GHO ecosystem is the most critical factor for the prosperity of the Aave Ecosystem. Our team considers increasing the use cases of GHO as the optimal strategy for stability and sustainable growth. Hence, we plan to propose and implement new incentive strategies and actively propose them to other DeFi.

• 2. Growth of Aave V3
  Aave V3 is strongly leading the lending market. The completion of the transition from Aave V2 to V3 and the expansion to Layer 2 solutions and other chains are among the challenges for 2024. Additionally, our team plans to carefully consider and support the handling of new types of assets such as RWA Tokens and LP Tokens.

• 3. Governance Optimization
  Governance optimization mean to maximizing both decentralization and benefits without losing flexibility by granting specific permissions to eligible actors under the control of smart contracts. This concept is similar to governance minimization but is based on the premise that governance is not necessarily negative.

• 4. Transparency
  Transparency is the core spirit of Aave and the reason why we love GHOST👻. Saucy Block declares its commitment to making decisions based on clear justifications and explaining them in advance on the Forum.

The Team

0xlide ( @0xlide )
I have been actively involved in DeFi and DAO Governance for the past two years. Within Aave, I have collaborated with ACI and TokenLogic in the past, contributing to a few proposals such as “Add FXS to Ethereum” and “GHO Funding”.

Yousuke Aramaki (@ywzx )
5 years of smart contract engineering experience, covering stablecoins, NFTs, and cross-chain bridges. Currently working with VC and crypto startups as a technical adviser while contributing to Titania Research.

[MrKris]

Hey Saucy Block, I’m currently delegating to you and it would be useful if instead of cutting & pasting the list of AIP’s, (which I’m quite capable of finding & reading myself) in the period you listed how you’d voted on each and a brief narrative as to why.
Thank You!

[0xlide]

Hi, @MrKris ฅ•ω•ฅ
Thank you for delegating to us. Moving forward, I will document votes and their reasons on this post.

[SaucyBlock]

[TEMP CHECK] GHO Cross-Chain Strategy Launch with CCIP

Vote: YAE

Formulating the GHO Cross-Chain Strategy is highly beneficial. Additionally, the use of CCIP enables the safe deployment of GHO on many chains.

[SaucyBlock]

[ARFC] Onboard weETH to Aave v3 on Ethereum

Vote: YAE

Integrating weETH has the potential to create new demand for borrowable assets on Aave V3, such as ETH and LST.

[ARFC] Add gmBTC on Arbitrum V3

Integrating gmBTC as collateral asset in the Aave V3 Arbitrum Pool has the potential to create new demand for borrowable assets on Aave V3.

[ARFC] Ethereum v2 Reserve Factor Adjustment

Vote: YAE

Increasing the Reserve Factor is the most effective way to encourage Aave V2 users to transition to Aave V3

[SaucyBlock]

Assign Emission Admin - Ethereum, Arbitrum and Optimism

Vote: YAE

Assigning Stader Labs and Stakewise DAO as Emission Admins will not only promote the growth of their respective LST tokens but also the overall growth of Aave V3.

Migrating from USDC.e to USDC will resolve liquidity fragmentation and improve the user experience.

[SaucyBlock]

Merit Approvals

Vote: YAE

“Merit” has been greatly improved by good feedbacks* on the forum. We are supportive of simple incentive designs and the motivation behind them.
*@lbsblockchain , @sid_areta

Funding Update

Vote: YAE

The acquisition of GHO and the allocation of strategic assets ($CRV, $BAL) to GLC contribute significantly to the stability of GHO.

Amend Safety Module Emissions

Vote: YAE

Increase stkGHO incentives in response to rising interest rates in the Stablecoin market and increasing GHO supply.

[SaucyBlock]

Activation of A-C Prime Foundation

Vote: NAY

We believe that Centrifuge is one of the optimal partners for introducing RWAs into the Aave Ecosystem. However, the proposed yield for the US T-Bill fund is lower compared to the Aave V3 market, and a decrease in the yield of US T-Bill is expected within this year. Therefore, we oppose allocating 1 million USDC.

addFlashborrowers

Vote: YAE

We are supportive of the proposed waiving of flash loan fees for the three protocols, as it has the potential to increase borrowing volume and consequently increase revenue for the Aave DAO.

@ACI , is there a dashboard available where we can check the borrowing volume for these three protocols?

Ethereum v2 Reserve Factor Adjustment

Vote: YAE

Increasing the Reserve Factor is the most effective way to encourage Aave V2 users to transition to Aave V3

[SaucyBlock]

GHO Borrow Rate Increase

Vote: YAE

Maintain GHO’s competitiveness in the stablecoin market while improving its stability and profitability.

Set Price Cap Adapters (CAPO)

Vote: YAE

CAPO is strengthen the oracle module for assets listed on Aave that have a highly correlation with underlying assets.

Thanks @addison and @bgdlabs for great works.

[SaucyBlock]

Aave Liquidity Commitee Funding

Vote: YAE

Over the past 3 months, GLC’s performance has been excellent. Utilizing 450k GHO incentives and strategic assets, they greatly contributed to improving GHO’s stability. Additionally, @TokenLogic 's significant contribution to increasing the adoption of GHO is highly commendable.

This proposal sets an appropriate budget amount (500k GHO) for the next 3 months, while also providing clearer performance metrics. Therefore, we support this proposal.

v3 Periphery maintenance

Vote: YAE

Introducing a Price Oracle Sentinel on Aave V3 on Scroll and fixing minor issues with aTokens will make Aave V3 more secure.

Reserve Factor Updates (March 13, 2024)

Vote: YAE

Increasing the Reserve Factor is the most effective way to encourage Aave V2 users to transition to Aave V3

[SaucyBlock]

stablecoin harmonization

Vote: YAE

Regarding this proposal, our team had a few concerns - reduced censorship resistance due to concentration on USDC and USDT, reduced diversity of collateral assets for GHO, and lack of feedback from @ChaosLabs - but based on the snapshot results, we decided to vote in favor to align with the community’s will.

Ethereum v2 Reserve Factor Adjustment

Vote: YAE

Increasing the Reserve Factor is the most effective way to encourage Aave V2 users to transition to Aave V3

Remove ARB from Isolation Mode on Arbitrum

Vote: YAE

Arbitrum is currently one of the most prominent Layer 2 solutions, with ARB’s trading volume being several times that of AAVE. Additionally, ARB’s liquidity has significantly improved due to incentive programs such as STIP. Therefore, we are supportive of this proposal.

Aave BGD Phase 3

Vote: YAE

@bgdlabs is one of the most outstanding teams contributing to Aave’s success, and we are pleased that their contract is being renewed. It is also great that their scope has been clarified further.

ARFC “Merit is Forever” Reward System Program Extension

Vote: NAY

While the Merit Program(incentives/ revenue share program) over the past 3 months has achieved some excellent results, it was also a program with room for improvement. However, in this proposal, there are no specific improvement measures presented for the large expenditure of $5 million over 4 quarters. Furthermore, the proposer has not responded to any feedback or questions from the community.

If periodic improvement plans, transparency assurance, and KPIs are not presented at the ARFC stage, we will not support large-scale and long-term programs.