The Ranch, Issue 17
Updates on our work with Maker, Aave, and dYdX. Plus, Llama joins Boardroom's podcast.
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 🦙
Luca Prosperi has joined our Maker delegate platform as Delegation Captain, supporting Puncar and other members of the Llama community. Luca will lead communications for our platform.
To learn more about our delegate platform for Maker, please see our statement on Maker’s forum. As with all our engagements, we’ll continue to operate under our guiding principles and values:
Rigor. Work done by Llama is of the highest quality. We care deeply about getting the details right in anything we do: smart contracts, governance forum posts, or analytics dashboards.
Ownership. We treat the problems of the DAOs we work with as if they were our own. There is little to no separation between Llama and the DAOs we work with.
Trust. We seek to actively earn the trust of the DAOs we work with. We involve the community in our work and incorporate feedback where relevant.
Transparency. We believe in open lines of communication and are comfortable working in a DAO-native manner.
We shared our July 2022 Financial Report with the community on Aave’s forum. The July 2022 report contains deeper analysis and a number of visual improvements.
We’ve upgraded our reporting with new analytics, enabling us to provide more data on different Reserve Factor holdings, including mainnet, Arbitrum, Avalanche, Harmony, Optimism, Polygon, and Fantom. Our reports now show Reserve Factor values over time as well as a breakdown of each Reserve’s assets.
As of July 31, Aave held 80% of its treasury in AAVE tokens with the remaining in a diversified basket of stablecoins. The total treasury stood at $215m at month-end.
Meanwhile, we continued our work on Part 2 of Aave’s strategic partnership with Balancer, which will see Aave acquire an additional 100k BAL. We are currently awaiting a peer review of the contracts.
Given recent news with TribeDAO, Llama has submitted two ARCs relating to FEI.
The dashboard contains data on:
Trades & trading volume by market
LP rewards by pool
Deposits & withdrawals
Number of users
The dashboard also contains contextual markers so users can see the impacts of different incentives, like the reduced fee period from epoch 6 to epoch 9. Stay tuned for an upcoming Mirror article where we dive into the creation of the dashboard!
2. Herd on the Street
Insights and articles from the DAO world, curated by our herd.
Boardroom Breakdown: Llama
Shreyas, Dan, and Kydo join Boardroom’s podcast to discuss Llama’s values, history of being a governance delegate, and how to improve DAO governance.
TIP-121: Proposal for the future of the Tribe DAO
In response to challenging macro environments and problems resulting from smart contract hacks, Fei Labs has proposed a transition of Tribe DAO to a governance-less end state. The proposal would redeem all FEI to DAI, repay Fuse hack victims, and allow TRIBE holders to redeem for their pro-rata share of the DAO’s assets.
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.