The Ranch, Issue 16
Updates on our work with Aave, Nouns, and Gitcoin/Radicle. Plus, an analysis of Nouns DAO's grant programs.
Welcome to The Ranch, Llama’s Substack newsletter.
In this publication, we’ll share quick and easy to digest insights on:
Updates from Llama 🦙
Herd on the Street - interesting insights on DAOs
Opportunities - ways you can get involved with Llama
1. Updates from Llama 🦙
We’re excited to welcome Potatodog and defijesus to the community!
Aave
We shared our June 2022 Financial Report with the Aave community. A few highlights:
The Ecosystem Reserve held $102.4m of AAVE
Newly combined Reserve Factors held just over $41m
Meanwhile, we’re continuing our work with the proposed Aave <> Balancer strategic partnership. As we noted in the last issue of The Ranch, Part 1 of the strategic partnership has been executed, with Aave receiving 200,000 BAL in exchange for 16,907 AAVE.
In Part 2 of the strategic partnership, we’ve proposed that Aave acquire an additional 100,000 BAL through a bonding curve. Our engineering team has finished development of the smart contracts and handed them over for external review.
Nouns
Llama began work on Pronouns, a Nouns client for power users to make smarter auction decisions. We will begin by establishing feature-parity with the official Nouns client, then focus on adding analytics and enhancements to the UI.
We also shared a preview of the Pronouns homepage from our friends at VectorDAO:
Gitcoin x Radicle Public Goods Alliance
We deployed the smart contracts for the execution of the Public Goods Alliance between Gitcoin and Radicle. Once put to an on-chain vote, Gitcoin will receive 680k RAD while Radicle will receive 500k GTC.
Both DAOs will delegate their tokens to multisigs controlled by their metagovernance committees, which will be responsible for voting on proposals in the other DAO’s governance process.
Radicle’s on-chain vote is now live!
2. Herd on the Street
Insights and articles from the DAO world, curated by our herd.
Nouns: Treasury Allocation and its Effectiveness - Sov
Nouns has allocated 14,835 ETH since inception across 292 proposals via on-chain governance, Prop House, and small grants. Here, Llama contributor Sov does a deep dive on Nouns DAO’s treasury allocation & the effectiveness of its grants programs.
Franchiser: Fractional Delegation by Noah Zinmeister
Currently, holders of COMP-style voting tokens cannot partially delegate voting power to other addresses while retaining full custody over the underlying tokens. Noah built a contract that allows partial delegation; it will be used for Uniswap DAO to partially delegate voting power to the proposed Uniswap Foundation.
3. Opportunities
If you’re a Solidity engineer looking to work on on-chain governance proposals, apply to join our community! You will get to work with a talented group of engineers and deploy smart contracts for top protocols like Aave, Balancer, Gitcoin, Uniswap, and Radicle, among others.
Stay Up to Date on Llama 🦙
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