The Ranch, Issue 23
Updates on our work with Aave, ApeCoin DAO, and ENS.
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 Aave to acquire an additional 100k BAL passed and was executed on-chain. This on-market purchase completes the two part process for acquiring a total of 300,000 BAL after an initial 200,000 BAL was acquired via the token swap in AIP-87. Aave will be able to use this BAL (via veBAL) to drive TVL and attract new users to the Aave ecosystem. A separate proposal will detail how the BAL tokens from this AIP are to be utilized. The discussion can be found on the Aave governance forum.
As part of our ongoing treasury management and analytics work with Aave, we shared October financials with the community. We summarize some of the key stats, including Aave’s annualized revenue across all v1, v2 & v3 deployments.
Our vision is to build the infrastructure to enable anyone to publish accurate financial content on Aave. Please share any feedback or financial metric that you would like to see developed in the governance forum.
As a reminder, join our next Llama <> Aave Twitter Space where we share an update on the work we have been doing and answer any questions from the community.
In the last issue of The Ranch, we announced that our proposal to run a bounty program of 1 million APE (~$4.4m) through Immunefi passed ApeCoin governance. Since then, we’ve been working to triage and analyze incoming bug reports.
Immunefi outlines the full details of the program in their blog post including the rewards by threat level, impacts in scope and vulnerabilities out of scope.
Listen to Austin Green on an ApeComms Community Hour last week, where he shared more about Llama, walked through the proposal, and answered questions from the community.
Llama has been short listed in the final vote for the selection of a fund manager for the ENS endowment. We encourage everyone to read our full proposal on ENS’s forum. Along with Alastor, we’ll provide ENS with world-class financial modeling and analysis and will operate the endowment entirely through on-chain governance in a DAO-native way.
The Snapshot is live for voting starting November 17th. We are around if anyone has questions or feedback - please reach out in the governance forum or on Twitter.
2. Herd on the Street
Alastor’s Uniswap Fee Switch Report
Alastor shares their research and analysis on the current state of the Uniswap protocol and provides recommendations on how to enable the fee switch across the protocol.
Aave Grants Retrospective
Sov shares an overview of the history and evolution of grants being awarded in the Aave ecosystem including the current program, metrics, and how to apply.
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.