The Ranch, Issue 6
Updates on our work with Gitcoin, Aave, and Harvest. A "fairness" analysis of the FEI <> Rari merger. Insights on GTM strategy for 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 🦙
Llama continued its work on Gitcoin's $15 million treasury diversification efforts. This week, the working group narrowed down potential lead partners and scheduled calls with them to discuss a partnership with GitcoinDAO. We also continued our weekly working group call, discussing various pricing options and terms for the diversification.
As the process gains momentum, we'll continue to share weekly updates on Gitcoin's forum.
This week, Llama proposed a strategic partnership between the Aave and Balancer communities. The proposal would see Aave acquire 300,000 BAL tokens, making it one of just eight token holders with 300,000 BAL and placing it in the top 30 holders of BAL, according to Etherscan (including all wallets such as gateways and Balancer multisigs ). Balancer, meanwhile, would become a top 80 holder of AAVE.
Llama's proposal will give each of the two protocols a meaningful say in one another's governance. As the two protocols have a long history of working together, we believe a formal strategic partnership is mutually beneficial.
Aave can use the acquired BAL to direct BAL rewards to the new AAVE/ETH (80/20) Balancer V2 pool.
The initial proposal is to acquire 200,000 BAL for ~$1.1 million in AAVE from Aave's Reserve Factor, with the option to acquire another 100,000 through a bonding curve.
With 300,000 BAL, Aave will represent 3.8% of the BAL/ETH pool. Aave will earn approximately 551 BAL weekly from BAL emissions to the pool and will also be able to direct 3,085 of the 81,200 BAL tokens through the Ethereum mainnet pool gauge. This BAL can be directed to new aToken pools, bootstrapping adoption and growing TVL for the Aave community.
For more details, we encourage you to read the full post on Aave's forum.
Llama contributor ethpanda has been hard at work creating a Key Metrics dashboard for Harvest Finance. The dashboard covers important metrics on Harvest's FARM token emissions and overall supply, new distributions for weekly mints, and data on Do Hard Work transactions.
Llama's dashboard allows Harvest community members to view current and historical data between a range of user-selected dates, giving the community the data needed to make informed decisions regarding the future of the protocol.
The dashboard also features data and visualizations for tracking Harvest Finance's treasury and community Multisig. For example, one can also keep track of Harvest's treasury assets over time:
2. Herd on the Street
Insights and articles from the DAO world, curated by our herd.
How Fair Was RGT | TRIBE? - Jordan Stastny & Sam Bronstein
After traditional public M&A deals, investment banks perform an assessment of the deal’s fairness. In this piece, Jordan and Sam break down the Fei/Rari merger and provide a thoughtful “fairness” analysis.
GTM via Supply and Demand side DAOs (Thread🌿) - @pet3rpan_
Pet3rpan shares thoughts on the supply and demand side of DAOs. Most projects focus on product and token launches when instead they may be better served by first building communities around their missions and goals, then building products.
We're still looking for talented artists and graphic designers 🖌 to help us with graphics for social media and blog posts. If you fit the bill, let us know in this form!