The Ranch, Issue 18
The Ranch, Issue 18
Updates on our work with Aave, Maker, and Gitcoin.
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 🦙
Aave
We submitted a proposal for a 12-month engagement with Aave to work on treasury management, protocol upgrades, growth, and analytics. The post is live on Aave’s forum; we look forward to hearing the community’s feedback.
We shared our August 2022 financial report on Aave’s forum. A few highlights from the report:
Total deposits (all pools) stand at $10.5 billion
Total dollars borrowed stands at $4.1 billion
Ethereum continues to lead the way for Aave when it comes to TVL:
In other news, Llama published a proposal to list stMATIC to Aave V3 on Polygon. Listing stMATIC as collateral will enable depositors to borrow funds against stMATIC. The listing will allow Aave to benefit from the first mover advantage and potentially replicate the success of the stETH listing, which has generated $1.38B in TVL on the Ethereum Aave v2 pool.
Llama also passed an on-chain proposal freezing the borrowing of FEI given recent events at Tribe DAO.
Maker
We’re continuing our work with Maker as a governance delegate. Each week, we share our votes in a thread on Maker’s forum along with any rationale accompanying the voting decision.
We’ll be hosting a Twitter spaces alongside Stable Node on September 21 at 1pm EST to discuss Maker governance. We hope you’ll join us!
Gitcoin
We shared our July 2022 financials with the Gitcoin community. A few highlights from the report:
Gitcoin’s treasury stood at $88.6 million as of 7/31/2022
Contributor rewards totaled $834.7k in July. Given Gitcoin’s S15 budgets, expected spend will be ~$901.7k per month going forward.
We plan to share our August financials, which incorporate the latest treasury diversification and runway analysis, with the community in the next week!
2. Herd on the Street
The Great Convergence: $GHO and the Story of the Five Old Kings - Luca Prosperi
In this post for Dirt Roads, Luca breaks down Aave’s new stablecoin, GHO, and why stablecoins are the area for the first great convergence among DeFi protocols.
Crypto Grants Wire - August ‘22 Recap - Sovereign Signal
Sov compiles the latest news from DAO grant programs and crypto funds as well as some interesting thought pieces and tools from the month of August.
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 🦙
Follow us on Twitter, check out our website, and read our writing on Mirror.