TokenLogic Delegate Platform

Hi Aave Community :wave:

We are excited to announce the TokenLogic Delegate Platform founded by @MatthewGraham, who has been contributing to Aave since 2021.

TokenLogic is a newly formed independent voting delegate focused on supporting the growth and adoption of decentralisation communities through governance participation.

Key Details

Delegate Address: 0x2cc1ADE245020FC5AAE66Ad443e1F66e01c54Df1
Telegram: @Matthew_Graham
Discord: Matthew_Graham#9177
Twitter: (Founder)
Twitter: (Developer)
External Website: (In development)
Dedicated Email:
Legacy Voting Record: Boardroom
New Delegation Boardroom


I am thrilled to announce that Aave is to become the primary delegation platform for TokenLogic. As the founder, @MatthewGraham, I have been actively contributing to Aave since May 2021. I led the Aave team at Llama from receipt of the first grant in mid-2021 and by late 2022, Llama transitioned into a service provider where I am currently managing the Llama <> Aave program.

TokenLogic will act purely independent and will cast all votes with Aave’s best interest front of mind and without outside influence. As a delegate, TokenLogic commits to dedicating time and resources to supporting Aave’s development and growth whilst maintaining complete independence from Llama’s voting process. We are actively scoping out our front end where we intend to provide details about TokenLogic and our voting history within the Aave ecosystem.

Why TokenLogic

At TokenLogic we believe in helping communities grow and develop progressive governance ecosystems. Our delegate platform is intended to serve as an independent voting voice within the thriving Aave ecosystem.

As the Aave ecosystem grows and matures, the protocol benefits from delegation diversity with independent visions and value propositions.

Members of TokenLogic are deeply integrated into the Aave ecosystem. The below highlights some of their ongoing contributions to the Aave ecosystem:

  • Aave Guardian
  • Program manager for the Llama <> Aave service provider agreement
  • Aave Risk Council applicant
  • Governance proposals


At TokenLogic we believe in being open, building trust through collaboration and realising possibilities together as a team.

Our values are at the centre of everything we do. They shape how we act with each other, our partners and help us to achieve our vision of helping communities realise their full potential.

Our foundational beliefs, reflect our values:

  • Transparency/Openness. We believe in open lines of communication and transparency. We share our knowledge and embrace diversity of thought.
  • Trust. We partner constructively and develop close working relationships. We actively listen to the community’s feedback and support compromise to foster solutions in effort to help the community realise its fullest potential.
  • Integrity. We act honestly and ethically in all dealings. We reinforce a culture of doing what is right.
  • Collaboration. We believe in achieving together and building trust as we strive to deliver the best in all that we do.
  • Entrepreneurial Spirit. We adopt an ‘owner mindset’. We identify opportunities and we take the initiative to pursue new and innovative ways of delivering value.

Focus Areas

The following are areas of interest where TokenLogic seeks to focus its efforts:

  • GHO Adoption. Accelerating the transition from a safe/guarded launch to achieving escape velocity via the widespread adoption of GHO across DeFi.
  • Revenue Growth. Growth avenues expected to attract new users, protocol revenue and tailoring of risk parameters supportive of those building on top of Aave Protocol.
  • Live Financial Reporting. Expansion of financial data across Aave, such as live financial statements, bad debt dashboards, service provider funding contracts v Aave budgets and asset holding performance over time
  • Aave v3 Features. Initiatives that introduce and extend the v3 design features of Aave Protocol, such as portals, facilitator roles and meta-governance.

Butter Delegate Initiative


Over the next 90 days, during the Butter Incentivised Delegation Campaign, TokenLogic will be focusing on contributing to two key pillars supporting the ongoing success of Aave Protocol. Two timely areas of focus, is supporting the adoption of GHO and migration of liquidity from Aave Polygon v2 to v3.

Key Performance Indicators

High level measures of success include:

  • GHO adoption
  • Migration of Liquidity from Polygon v2 to v3

GHO Adoption will primarily focus around initiating new pools and growing on-chain liquidity through various DeFi focused integrations.

The migration Liquidity from Polygon v2 to v3 will be centred around updating various risk parameters across the two deployments that enhance the v3 user experience.

TokenLogic will endeavour to publish Temp Check proposals for community review and supporting payloads enabling the changes to be implemented in production.

The Team

The TokenLogic team consists of the following contributors, with Matthew being the primary point of contact. Please feel free to reach out on any of the mentioned platforms.

  • Matthew Graham (@MatthewGraham on the forum, Matthew_Graham_ on Twitter). Mechanical Engineer with 12+ years of industry experience, bachelor degrees in Mechanical Engineering, Investment Finance and Corporate Finance. Published numerous ARCs with a good understanding of defi legos, risks, governance, value flow (tokenomics) and fund management.

  • DefiJesus (@defijesus on the forum, eldefijesus on twitter). I am a Software Engineer with 10+ years of building products from zero to one and I have been over 2 years full time working on the EVM. I am the founder of Buzzed Bear community and a keen contributor to Aave ecosystem, mostly via freelancing to Llama. Github Repository can be found here.

  • Dydymoon (@Dydymoon on the forum,dydymoon1 on twitter) DeFi Strategist, Consultant & Advisor contributing on many aspects such as Treasury management/optimisation, governance frameworks & proposals, growth & integrations, BD, tokenomics & more across Defi communities such as Aave, Llama, Paladin, Javis, Luchadores, APWine etc. Recently, Dydy also designed a new mechanism for Aave’s Safety Module.

In time, a frontend will be created and shared with the Aave community providing further insights into TokenLogic. We are in the process of onboarding a front end developer.

Conflicts of Interest

Do note, Matthew is expected to continue performing his role at Llama as the Aave program manager. For any TokenLogic initiatives that fall outside of the Llama <> Aave agreement, these will be shared on the forum for the community to discuss, example here.

The founder does not have access to Llama’s Aave voting wallet and does not partake in any Llama internal voting decision making process.


If anyone would like to delegate to TokenLogic, please use the following address:



Copyright and related rights waived via CC0.


Hi Matthew, maybe its just too early in the morning but whats the USP of TokenLogic?
Looking at the Focus Areas they look the same like Llama. Whats the difference between Llama and TokenLogic?
Llama is already providing Financial reports, also Aave v3 features.

In the last few weeks we have seen many new Delegate Platforms on this forum and im starting to think why do we all need them and what will be the benefit of all those for Aave?

Are people getting interesting in the current discussion regarding funds for those platforms and want to apply for it like ACI?

I would like to hear that one argument that will change my mind and says, “okay we need TokenLogic because not ACI, Llama, Gaunlet, ChaosLabs, AaveCompanies and so on are offering what we are offering”.

Otherwise i don’t see any benefit in offering my voting power to any delegate platform.
In general i would be in favour of having like 3-5 (max) delegates and more individual user voting instead of 15-20.

Thanks, happy to read your answer.

1 Like

Just trying to bump this one up again.

1 Like

Hi Everyone :wave:

It was an honour to participate and finish on top of the Butter Delegation Competition. We look forward to actively contributing to the Aave ecosystem.

To date we have published a TEMP CHECK and ARFC proposal for the community to discuss.

@ChaosLabs will be progressing the wMATIC proposal forward along with other risk parameter amendments on the Polygon v3 deployment. We intend to progress the Polygon v2 Parameter Update in the coming weeks. This will likely be our first AIP proposal submission for on-chain voting.

@EzR3aL we hope over time our continued participation in Aave’s governance will demonstrate a strong track record of adding value and advancing the protocol. Please do note, TokenLogic is only a delegate, not a Service Provider, and governance publications are to be implemented with collaboration from service providers. A distinguishing feature between TokenLogic and some other delegates, TokenLogic contributors have a strong track record of contributing to Aave dating back to mid 2021.

As a delegate we welcome any support from the broader community and are committed to voting independently in the best interest of Aave Protocol.

Voting History to Date

[TEMP CHECK] - GHO Facilitator Onboarding Process and Application
Vote Cast: YAE
Having reviewed this proposal prior to it publication we are glad to support this much needed onboarding process definition proposal. Great work by the @oneski22 and @khan. We look forward to seeing the ARFC emerge in time.

[ARFC] Align AAVE Risk Parameters on Aave V3 Ethereum Market with Aave V2
Vote Cast: YAE
A solid proposal by @MarcZeller and we directly support the alignment of risk parameters such that v3 is positioned to offer the same or better user experience relative v2 deployments on the same network.

[TEMP CHECK] Aave V3 Deployment on zkSync Era Mainnet
Vote Cast: YAE
Great to see @fig and the Flipside Crypto team getting more active in the Aave ecosystem. We firm support the expansion of Aave v3 deployments on emerging networks which we expect to generate material adoptions and revenue potential to the Aave DAO.

ACI Service Provider Proposal
Vote Cast: YAE
We are in full support of the one man band, @MarcZeller, growing a team and enhancing ACI’s contribution to the Aave ecosystem.

[Temp Check] - Community Preference for Supply Cap Limits for LSTs
Vote Cast: YAE
We are comfortable with increasing Aave’s risk exposure to LST and believe the rewards for doing so outweigh the risks. The ability to redeeming, or swapping, the LST for the native network token is unique to LST.

Aave v2/v3 Collectors unification
Vote Cast: YAE
This AIP is a key enabler for other service providers to begin managing the Treasury on respective networks. @llama implemented a simpler change enabling v1 aTokens to be received by the v2 Collector Contract and this @bgdlabs proposals achieves the same objective in a more governance efficient, holistic and streamlined approach. This is a great proposal from the @bgdlabs team.

Update AAVE V3 ETH Risk Parameters
Vote Cast: YAE
We are in full support of increasing the LTV of AAVE on Ethereum v3 to match the Ethereum v2 deployment.

Supply/Borrow Cap Updates V3 Arbitrum
Vote Cast: YAE
We are supporting of increasing the Supply and Borrow Caps for wETH and wBTC on Arbitrum. This enables the Aave v3 deployment to continue growing without deposit cap limitations. Enabling sufficient deposit capacity is critical to encouraging builder to create structured products on Aave Protocol.

Risk Parameter Updates Aave V3 Optimism
Vote Cast: YAE
We are direction aligned with this proposal and our only caution was DAI with an LT of 83% as this is starting to get high. This aside, we fully support the proposal from @ChaosLabs.

[ARFC] Add MAI to Arbitrum Aave V3 pool
Vote Cast: YAE
We firmly support the inclusion of additional LST and Stable coins across all Aave Protocol deployments.

[ARFC] Add MAI to Optimism Aave V3 pool
Vote Cast: YAE
We firmly support the inclusion of additional LST and Stable coins across all Aave Protocol deployments.


[TEMP CHECK] Gas Fee Rebate for On-Chain Votes
Vote Cast: YAE
We support the reimbursement of gas costs incurred by delegates who have a material representation within Aave’s governance.

Risk Parameter Updates for Aave V3 Polygon (2023-04-21)
Vote Cast: YAE
We are supportive on Gauntlet’s increase the EURS Borrow Cap on Polygon.

Upgrade Aave V3 pools to Aave V3.0.2
Vote Cast: YAE
Great proposal by @bgdlabs. Also noting two mentioned audits. We are strongly in favour of this upgrade.

Increase SupplyCap stMATIC Polygon & wETH Arbitrum
Vote Cast: YAE
Given approval from risk providers was attained and our preference to grow LST exposure on Aave, we are strongly in favour of this proposal.

Add wstETH to Polygon Aave v3
Vote Cast: YAE
We are strong advocates for welcoming the growth of LSTs on Aave Protocol.

BAL Interest Rate Upgrade
Vote Cast: YAE
Supporting of staged increases in the BAL interest rate that gradually align the Uoptimal value with market rates whilst monitoring the markets response over time.

[ARFC] MaticX Supply Cap Increase Polygon v3
Vote Cast: YAE
Similar to the above, we are supportive of LST growth on Aave Protocol provided it is conducted in a safe and controlled manner.

[ARFC] Deprecate Aave V2 AMM Market
Vote Cast: YAE
This Aave deployment failed to gain meaningful traction in the market. Full support to deprecate the v2 AMM, especially given the v3 version will be coming to market post GHO launch.

[ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Polygon - 2023.04.23
Vote Cast: YAE
This proposal leans into supporting further migration from v2 to v3 which is something TokenLogic is a keen supporter of.

WAVAX Borrow Cap Update - V3 Avalanche - 04.21.2023
Vote Cast: YAE
Increasing the wAVAX Borrow Cap enables the yield maximising strategy to grow Aave’s TVL and wAVAX revenue.

[ARFC] Aave V2 Interest Rate Curve Changes (2023-04-21)
Vote Cast: NAE
We are directionally aligned with this proposal. However, we think the wMATIC parameters are not ideal and should be reworked. We voted NAE to signal an intent to rework the proposal in line with feedback provided on the forum. However, if the community supports the lower wMATIC rates, we will vote YAE at the AIP vote and then monitor how the market responds. If the market dynamics are adversely affected, we will prepare a proposal to revert the wMATIC interest rate parameters.

[ARFC] Polygon v2 - Parameter Update
Vote Cast: Option 2
This is our own proposal. We are supportive of a conservative initial implementation with the option to prepare a follow up proposal after reviewing how the market responds to the first implementation.

[TEMP CHECK] Aave V3 GHO Genesis Parameters
Vote Cast: YAE
We want to see GHO come to market asap. We are supportive of this proposal and acknowledge the ability to amend parameters post launch.

Aave Metis V3
Vote Cast: YAE
We view this as an experiment and hope to see strong adoption without consuming many resources to maintain the deployment.

Upgrade Aave V3 pools to Aave V3.0.2
Vote Cast: YAE
Great proposal by @bgdlabs. Looking forward to seeing this in production.

[TEMP CHECK] Allocation of 300k OP Received by Aave Grants DAO
Vote Cast: YAE
We are looking to see AGD use these OP rewards to encourage builders on Aave Optimism v3. Using OP represents a solid alternative to AAVE tokens.

[ARFC] Aave V3 Interest Rate Curve Changes (2023-04-27)
Vote Cast: YAE
Solid interest rate improvements and RF adjustments.

[ARFC] - GHO Facilitator Onboarding Process and Application
Vote Cast: YAE
Having review this proposal and provided feedback pre-forum. We are in support of creating a GHO Facilitator onboarding process. We seek to help communities submit applications to become a facilitator in time.

Gauntlet Recommendations for Polygon V3 and Arbitrum V3
Vote Cast: YAE
We would have liked to see the BAL Supply Cap increased. However, we are also supportive of increasing the EURS Supply Cap and thus voted YAE on this proposal.

[ARFC] E-Mode Specific Supply and Borrow Caps
Vote Cast: NAE
We voted for no change. If we did not vote this way, our next preference was Option 2.

[TEMP CHECK] Defining the Service Provider & Delegation Platform Relationship
Vote Cast: Option 2
We think Service Providers should already have the context to make informed votes and they should be active in governance. As a result, we believe Service Providers should be excluded from receiving reward for providing voting delegation platform service to the DAO. It is reasonable to expect these costs are somewhat already baked into the Service Provider agreement pricing.

[TEMP CHECK] Safety Module Update Part I - Migrate AAVE/wETH
Vote Cast: 80/20 AAVE/wstETH
We are fans of capital efficiency and believe wstETH to be a low risk asset suitable for inclusion in Aave’s Safety Module. We also noted the comments from Solarcurve in the comments on this post and the overall direction of Balancer to focus on LST paired liquidity.

MaticX Supply Cap Increase Polygon v3 and AGD Approval
Vote Cast: YAE
We are strongly in support of facilitating the safe growth of LST collateral and yield maximising strategies being built on Aave Polygon v3. We also support the corrective USDT payment to AGD. It is not ideal that these proposals are bundled and this should be avoided. We supported this proposal and hoped the feedback from the community would be incorporated for future proposals without creating the need to submit two votes.

Add MAI to Aave Optimism V3 pool
Vote Cast: YAE
Stable coin diversity is good for Aave and we are supportive of MAI’s expansion across several networks.

Upgrade the safety module to v1.5 PART 1
Vote Cast: YAE
Great to see this upgrade coming to AIP with two audits from a very strong developer team. Strongly in favour of this proposal.

Add MAI to Aave Arbitrum V3 pool
Vote Cast: YAE
Stable coin diversity is good for Aave and we are supportive of MAI’s expansion across several networks.

Supply and Borrow Cap Updates Aave V3
Vote Cast: YAE
Glad to support this proposal to support the further safe growth of Aave.

Risk Parameter Updates Aave V3 Polygon
Vote Cast: YAE
We support the continual refinement of risk parameters in line with market conditions.

Upgrade the safety module to v1.5 PART 2
Vote Cast: YAE
Great to see this upgrade coming to AIP with two audits from a very strong developer team. Strongly in favour of this proposal.

Aave V2 Interest Rate Curve Changes (4/21)
Vote Cast: YAE
In line with prior comment relating to the Snapshot vote. Although we believe the wMATIC parameters are sub-optimal, we support the overall proposal and reserve the ability to amend the wMATIC interest rate at a later date, pending how the market responds.

LST Supply Cap Increase Polygon & Arbitrum
Vote Cast: YAE
We support the continued safe growth of LSTs on Aave deployments and acknowledge support from the risk providers for all proposed parameter changes.

[ARFC] Add LUSD Arbitrum v3
Vote Cast: YAE
We support the diversification of Aave’s stable coin offering.

[TEMP CHECK] - Add support for fUSDC on Ethereum v3 Pool
Vote Cast: YAE
This represents an exciting growth opportunity for Aave and we welcome further exploration of adding fUSDC as collateral on Aave v3 with conservative risk parameters upon being added.

[ARFC] Add 1INCH to Aave V3 Ethereum
Vote Cast: YAE
We are in support of migrating 1inch from v2 to v3. Adding 1inch to the v3 market is the first step in this journey.

[ARFC] Add ENS to Aave V3 Ethereum
Vote Cast: YAE
Similar reasoning to 1inch above.

[ARFC] BUSD Offboarding Plan Part II
Vote Cast: YAE
BUSD is not a good fit for Aave and we support the off boarding effort.

[ARFC] Activate emode for rETH Aave Ethereum V3 Pool
Vote Cast: YAE
Adding rETH to the ETH mode will enable more structured products to be built on Aave v3, promote diversify and will lead to great wETH being borrowed with generates revenue for Aave. We believe this to be low risk and are looking for @bgdlabs to review the oracle used within E-Mode before supporting this proposal at AIP stage of the governance process.

[TEMP CHECK] - Add support for RPL on Ethereum v3
Vote Cast: YAE
We support adding RPL, as we did LDO, and we would like to highlight the extra utility that RPL offers relative to LDO. Hopefully there is strong RPL borrowing demand.

[ARFC] Acquire BB-A-USD and deposit 50% into both Balancer and Aura Finance
Vote Cast: YAE
We are supportive of Aave DAO deploying the treasury to earn. Especially where it is perceived to be low risk and in line with other initiatives within the DAO.

[ARFC] Migrate Holdings from v2 to v3 and acquire wstETH and rETH
Vote Cast: YAE
We are supportive of Aave DAO holding funds in the safer of the two deployments. We also support Aave DAO holding the most battle test LST and holding these assets outside of the liquidity pools. We would advocate to explore how a portion of these assets could be used in the future to earn additional yield.

[ARFC] Consolidate Collector Contract & Secure Service Provider Runway
Vote Cast: YAE
The USDC runway on Aave v2 requires replenishing and the logic presented of swapping small holdings of high volatility assets to aUSDC makes a lot of practical sense for Aave DAO.

Risk Parameter Updates for Ethereum v3 (05/09/2023)
Vote Cast: YAE
We support the controlled increase of the LUSD supply cap.

Aave V3 Interest Rate Curve Changes (4/27)
Vote Cast: YAE
We support the revised interest rate parameters.

AGD Approval
Vote Cast: YAE
We are supportive of this corrective USDT payment for AGD.

MaticX Supply Cap Increase Polygon v3
Vote Cast: YAE
We support the continued safe growth to LSTs across Aave v3 deployments.

[ARFC] Add rETH to Aave V3 Arbitrum Liquidity Pool
Vote Cast: YAE
With rETH liquidity on Arbitrum growing, we are supportive of adding rETH to Aave v3 with conservative risk parameters.

Hi everyone,

Following the snapshot vote for the Delegate Code of Conduct.

By this post, the @TokenLogic is officially stating its intent to follow this code and is proud to participate in this initiative.