The Aave Chan Initiative (ACI) is a delegate platform dedicated to actively participating in Aave governance and contributing to the protocol’s success. As the Aave ecosystem matures, it is essential to have diverse and independent delegate platforms to drive the protocol forward.
To continue our efforts and effectively serve the Aave community, we are seeking a 6-month budget allocation. This budget will support our ongoing initiatives and enable us to expand our team and resources for maximum impact.
ACI’s current & future areas of focus
Governance and AIP Development
- Active participation in Aave governance discussions & votes
- Developing and submitting snapshot votes & AIPs
- Engaging with the community on forum discussions
- Collaborating with other delegates and stakeholders
Treasury Efficiency and Management
- Collaborate with DAO service contributors, such as Llama, to enhance Aave DAO treasury management.
- Support initiatives and actively participate in efforts to improve treasury efficiency, led by Llama and other contributors.
- Drive the adoption of strategic investments, diversification, and risk mitigation in treasury allocation.
- Establish a cost-conscious culture and ensure responsible spending from the treasury for the benefit of the Aave protocol and its users.
Protocol and Ecosystem Development
- Support the onboarding of new stablecoins, strategic assets, and LSDs
- Explore synergies with other DeFi platforms (e.g., Curve, Balancer, Arrakis)
- Promote the use of yield-bearing assets and LP tokens as collateral
- Participate in discussions around GHO and Safety Module improvements and advocate for “Real Yield” revenue for the Safety module paid in GHO
- Support the expansion of Aave markets in “new Frontiers” networks
Research and Analysis
- Conduct in-depth research on DeFi trends and developments
- Provide insights and recommendations to the Aave community
- Analyze the performance and impact of Aave governance decisions
- Assess new risk mitigation strategies and techniques
Team Expansion and Operations
- Grow the ACI team to support the Aave ecosystem better
- Cover operational expenses, including tools, subscriptions, and infrastructure
- Foster a collaborative environment for continuous learning and improvement
- Start a “Meta-Governance” focus for ACI. While the ACI can be considered “Aave-Maximalist,” there’s a lot of potential for having an active presence in other DeFi DAOs and representing Aave-DAO interest there, compared to other “professional” delegates, the laser-focus of ACI on Aave DAO interest will allow to have a voice focused on Aave synergies with other actors of the ecosystem.
Independence & Transparency
- While the ACI grew to become the largest Aave DAO delegate platform, we are proud that our voting power originates from hundreds of individuals from the community that decided to trust the ACI with their voting and proposal power.
- To the best of our knowledge, the ACI voting & proposal power is not linked to any specific entity, Investment firm, or third-party protocol, allowing the ACI to remain 100% independent & focus on the benefit of the Aave protocol.
- The ACI firmly declined any form of third-party compensation for creating proposals & publishing AIPs as it would be against our independence ethos. The ACI works for the Aave DAO solely & uniquely.
- The ACI created & self-imposed mandatory disclosure on every proposal and will continue to support a transparency culture within the Aave DAO.
Here are some notable achievements and contributions made by the Aave Chan Initiative:
- Governance Coordination: The ACI actively supported governance participation & coordination; since the Launch of the ACI, exactly ZERO AIPs have failed to meet a 320k AAVE vote participation, while it was unfortunately common in 2022.
- AIPs: The ACI presented and created numerous AIPs that have successfully been implemented to improve the Aave protocol. Since the Launch of the ACI, The AAVE DAO is now the most Active major DeFI DAO in the ecosystem. Q1 2023 was the most active quarter in terms of governance ever for Aave.
- Governance improvement: The ACI is actively involved in improving governance efficiency by providing the community with new frameworks, templates, fast-tracks & shortcuts to make Aave as efficient as possible.
- Delegators & contributor coordination: The ACI actively worked with and supported other DAO delegates, contributors, community members & third-party actors by providing feedback on their proposals, technical support when needed, and doing numerous “co-authorship” synergies with other DAO actors.
We are requesting a total budget of $250,000 for 6 months period to support our initiatives, team expansion, and operations. This budget will help us:
- Sustainably continue our current work
- Cover operational expenses, including tools, subscriptions, and infrastructure required to support our work
- Grow the ACI team, allowing us to better serve the Aave community and expand our areas of focus. While the “One-Man Army” meme is fun, the current workload and ambitions for the future are not compatible with a single-person operation
- Establish an active presence in other DeFi DAOs, representing Aave-DAO interests and exploring synergies with other actors in the ecosystem
By securing this budget, the Aave Chan Initiative will be in a sustainable position to continue to provide value to the Aave ecosystem.
If the TEMP CHECK is successful and the community supports our proposal, we will move forward with a formal ARFC submission detailing the proposal’s specifics such as technical implementation of the proposal.
We commit to maintaining transparency throughout the process and regularly updating the community on our progress.
Thank you for considering our proposal. We appreciate your support and look forward to working together to drive the success of the Aave protocol.