From the feedback, one change we propose is to fund half the AGD budget ($3m) in stablecoins and the remaining portion ($3m) in AAVE. Stablecoins will mostly be used to pay for events and sponsorships. The $3m stablecoin portion will be in aUSDC, which will be retained in the treasury so Aave DAO accrues the interest. However, Aave Grants will be granted approval to transfer $3m of aUSDC from the treasury and redeem for USDC as needed to fund expenses.
After two successful quarters of Aave Grants DAO, we are looking to renew the program for the next two quarters by providing $6 million dollars. See our initial proposal from May 2021 and our renewal proposal from November 2021 . We are looking to add an events coordinator, marketing manager, and three reviewers to Aave Grants DAO. Please apply here if you are interested!
Aave Grants DAO is a community-led grants program, focused on growing a thriving ecosystem of contributors within Aave through funding ideas, projects and events that benefit the ecosystem. We aim to drive development on top of Aave and ensure a constant influx of talented builders to maintain Aave’s long term growth. We help build culture and community around the Aave ecosystem that in turn attracts the best contributors.