Llama <> Aave
01Summary
Aave governance proposal to engage Llama for 12 months of treasury management, protocol upgrades, growth, and analytics work. Llama receives $1.5M base fee (70% aUSDC, 30% AAVE) paid as upfront transfer plus 12-month stream, with up to $500k bonus contingent on deliverable completion to be voted separately.
- Type
- treasury allocation
- Funding
- $1500000
Key changes
- Transfer 350,000 aUSDC ($0.35M) upfront to Llama-controlled address(high)
- Transfer 1,813.68 AAVE ($0.15M) upfront to Llama-controlled address(high)
- Create 12-month stream of 700,000 aUSDC ($0.7M) to Llama-controlled address(high)
- Create 12-month stream of 3,627.35 AAVE ($0.3M) to Llama-controlled address(high)
- Establish mandate for Llama to provide treasury management, protocol upgrades, DAO partnerships, and analytics services(high)
Notable concerns
- Bonus payment of up to $500k not included in this proposal and will be voted on separately
- Payment structure ties 30% to AAVE token price via 30-day TWAP at proposal time
- Renewal decision required at end of 12-month period
Generated by Kvorum
02Description
Simple Summary
Llama outlines a 12-month proposal to work with Aave on treasury management, protocol upgrades, growth, and analytics.
Abstract
This proposal acts as a mandate from the Aave community to engage with Llama for the work defined on the Aave governance forum here and pre-approved by the Aave community via Snapshot here.
Motivation
Llama is one of the most active contributors to Aave. We hope to deepen our engagement with the community and ensure that Aave is a market-leading protocol for many decades to come.
Aave currently has $9 billion of liquidity locked across 7 networks and over 13 pools, with more in the works. To continue its rate of growth, the community needs to onboard proven contributors who can drive value to the Aave ecosystem. Skilled teams have the knowledge, trust, and alignment to meaningfully contribute to growing Aave.
Llama has received grants from Aave Grants DAO over the past 12 months for work that includes treasury management, protocol upgrades, DAO to DAO partnerships, and analytics. Aave Grants has recommended that we move from short-term grants to a longer-term work scope funded through governance, allowing us to drive more impact to the Aave ecosystem. It should be noted that many of the deliverables in this proposal require substantial smart contract engineering, data engineering, and financial expertise.
Llama charges a $1.5 million base fee plus a bonus of upto $500k based on completion of deliverables. 70% of the total fee will be in aUSDC and 30% in AAVE. Note that the bonus payment is not included in this proposal but will be included in a separate proposal towards the end of our 12-month period.
We will provide regular updates on the forum with details of our work and will solicit feedback from the community to ensure we continue to uphold the commitments outlined in our forum post. Towards the end of the 12-month period, a renewal proposal will be shared with Aave governance.
Specification
A full specification of the payload contract and tests enabling this mandate can be found on the Llama Github here.
In summary, the proposal:
- Transfers upfront 350,000 aUSDC ($0.35 Million) to the Llama-controlled address.
- Transfers upfront 1,813.68 AAVE ($0.15 Million using 30 day TWAP on day of proposal) to the Llama-controlled address.
- Creates a 12-month stream of 700,000 aUSDC ($0.7 Million) to the Llama-controlled address.
- Creates a 12-month stream of 3,627.35 AAVE ($0.3 Million using 30 day TWAP on day of proposal) to the Llama-controlled address.
Test Cases
The Proposal Payload has been tested and peer reviewed by Bored Ghost Developing, including simulations on mainnet of the whole proposal lifecycle.
Link to Test Cases: Here
Implementation
Link to Payload Implementation: Here
Deployed Contracts ProposalPayload = 0xbDd286d4b9BfbD10319f3FCd1c76e9ECA12a80Ee
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The on-chain action set contains only a single generic execute() call to the ProposalPayload contract, which is the standard Aave governance execution pattern: the top-level governance action delegatecalls into a payload contract whose internal logic performs the actual token transfers and stream creations. Because the decoded calldata does not expose the payload contract's internal instructions (transfer amounts, token addresses, recipient, stream parameters), it is not possible to directly verify or contradict the specific numeric claims in the description (350,000 aUSDC upfront, 1,813.68 AAVE upfront, and the two 12-month streams). Nothing in the available decoded data conflicts with the description, but the lack of granular calldata means confidence in a full match is low rather than high. Per guidance, this is not treated as a discrepancy - the description is not contradicted, only unverifiable at this level of decoding. Delegates relying on this analysis should independently confirm the payload contract's logic (e.g., via the linked GitHub source and Etherscan) matches the described amounts, since that level of detail is outside what the decoded top-level action reveals.
Generated by Kvorum
04Actions
- Target
- 0xbdd2…80ee
- Value
- 0 wei
- Function
- fallback()
- Arguments
{}- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.