The Ranch, Issue 21
Updates on our work with Aave, ENS, and Nouns. Plus, our thoughts on contributor DAOs.
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 🦙
Our proposal for a 12-month engagement with Aave passed its on-chain vote and was executed on October 9th. We’d like to thank all of the Aave stakeholders who took the time to give us feedback on our proposal and supported us with their voting power. We’re excited to continue our work with Aave and look forward to sharing our first progress report on Aave’s forum in a couple of weeks.
Along with our 12-month engagement proposal, we also published 3 more proposals, which are in various stages of the governance process at the time of writing:
We shared our Q3 2022 financial report with the community as well. While market conditions have been difficult, Aave’s annualized revenue has remained strong:
Finally, we’ve updated our voting rationale for recent Aave votes on our voter delegation thread.
We shared our proposal to manage ENS’s endowment. We encourage everyone to read the proposal in full, but a few takeaways:
We partnered with Alastor to deliver ENS with world-class financial modeling and analysis that will inform any on-chain actions taken with the treasury.
Our solution is fully non-custodial and DAO-native, operating entirely through on-chain governance, as we have with other DAOs like Aave.
We’ll have a strong focus on risk-mitigation and proposed a novel compensation model that closely aligns our KPIs with the DAO’s around mitigating any loss of funds.
We look forward to receiving feedback and answering any questions from the community.
Pronouns spotted in the wild:
Last week, Nouns announced it would shut down its official Discord. To keep the conversation going, we teamed up with Agora, Prop House, @0xWiz_, @w1nt3r_eth, @toady_hawk to launch a Discord for projects building on Nouns.
2. Herd on the Street
Coase in the 21st Century: Building A Contributor DAO - Shreyas Hariharan
In our latest Mirror post, Shreyas shares his thoughts on Coase's Theory of the Firm in the 21st century and how contributor DAOs will shape the way that people contribute to protocols. You can also check it out in video form here.
The Liquidity Wars: Empire of Frax - GH0ST08 - Tokemak
GH0ST08 gives a brief history of the Curve and Liquidity wars and breaks down one of the most influential DAOs in these liquidity wars: Frax Finance.
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.