ACI Phase II

Simple Summary

This ARFC proposes the continuation of the collaboration with the Aave-chan Initiative (ACI) for an additional period of 180 days, with a proposed budget of 375k GHO.

Motivation

The ACI has demonstrated significant value to the Aave ecosystem across multiple fronts. This proposal seeks to extend our collaboration, focusing on three primary axes: Skyward, Growth, and Representation.

Skyward:

Skyward has emerged as a cornerstone of Aave's governance, producing 90 AIPs in 180 days. This averages out to one AIP every other day, a testament to the relentless dedication and efficiency of the ACI. Beyond numbers, the ACI has fostered a spirit of collaboration within the Aave ecosystem.

We've co-authored proposals with the vast majority of active DAO service providers, recognized delegates and some active community members. Moreover, our doors have always been open to third-party protocols. By actively welcoming and collaborating with them, we've streamlined the governance process, ensuring that Aave remains inclusive and cohesive in its approach.

What to expect for phase II?

Continuation & extension of the Skyward services.

Growth:

The ACI operates under a guiding principle of "Continuous incremental improvement."

While we acknowledge that we might not be the driving force behind tech breakthroughs like a potential Aave V4 or, recently, the Governance V3 AIP, our daily commitment is unwavering. We aim to make the protocol 1% better every single day, one AIP at a time. It's through these consistent, small steps that we believe Aave can maintain its leadership in the DeFi space.

Our efforts have already borne fruit. The implementation of offboarding plans for assets like BUSD & TUSD stands out. These initiatives not only enhanced protocol safety but also turned a profit, generating close to 1M$ for the DAO. This revenue, in itself, has multiple times repaid the investment made in the ACI. Furthermore, our vigilant oversight of the DAO's finances has ensured efficiency. We've curbed overspending, optimized budgets, and deterred proposals that didn't align with Aave's best interests, saving the DAO a 7-figure amount & ensuring every GHO & DAO $ is well spent.

What to expect for phase II?

The ACI will continue to focus on our continuous incremental improvement doctrine, being a driving force in Aave protocol growth and BD.

For Phase II the main focal points will be on Liquid Staking Tokens diversity with the support of onboarding new assets, GHO growth and adoption with support of synergies and the integration of GHO in both onchain protocols, ramps & L2s.

Representation:

The ACI has actively engaged in both internal and external representation for the Aave DAO.

Internal Representation:

Prior to the ACI's involvement, the DAO too often encountered challenges, such as proposals not reaching the required quorum. Governance activity was subdued, and the operations were notably insular. The ACI introduced several key initiatives:

• Orbit Program: The ACI allocated ~20% of its budget to the Orbit program, focusing on diversity. This program compensates recognized delegates for their contributions, leading to increased participation rates and improved diversity metrics. The frequency of proposals failing due to a lack of quorum has decreased. With the now DAO-funded Orbit program, the DAO has enshrined these benefits
• Governance Guidelines: The ACI contributed to the establishment of the Aave DAO governance guidelines. This effort aimed to bring clarity, predictability, and efficiency to DAO governance. The "Minimal Viable Bureaucracy" ACI Doctrine, ensures a balance between structured governance and accessibility.
• Support for New Delegates: The ACI has extended support to emerging delegate platforms, co-authoring proposals and providing guidance. This collaborative approach has enriched the DAO's ecosystem.

What to Expect from Phase II?

We will continue contributing to the Aave DAO frameworks and supporting DAO active participants seeking a balance between organization & accessibility.

We will also delegate engineering resources for service providers via mini-dapps such as the recent acistreamcollector.com, which allows no code claims of DAO streams.

External Representation:

Externally, the ACI has been a voice for the Aave DAO in various capacities.

• Event Participation: The ACI has participated in and sponsored several global events to share insights and collaborate with industry peers. In 2023, our engagements included:
  • Web3DNA (Paris)
  • EthDubai 2023
  • Prague DeFi Summit/EthPrague
  • Stable Summit (Paris)
  • EthCC[6] (Paris)
  • Dappcon Berlin 2023
  • LëtzStake (Luxembourg)
  • EthLisbon
  • Devconnect Istanbul A detailed list of our engagements can be found here.
• Regulatory Engagement: The ACI's founder holds the position of president of the DeFi committee of the French Lobby ADAN. This role involves dialogues with regulators, institutions, and governments in France and Europe regarding the DeFi sector. The ACI has been involved in discussions related to the "Mica 2" regulation, which addresses DeFi services.

The ACI, as one of the voices for the Aave DAO, has consistently worked towards enhancing the DAO's presence and reputation in the broader ecosystem.

What to Expect from Phase II?

The ACI will continue to be one of the voices of Aave across the globe, supporting devs in hackathons, being one of the DAO voices during events and supporting our brand quality.

Specification

• Recipient: 0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
• Duration: 180 days
• Budget: 375k GHO
• Scope: Continuation of the ACI's work across Skyward, Growth, and Representation.

References

• Implementation: AaveV3Ethereum
• Tests: AaveV3Ethereum
• Snapshot
• Discussion

Copyright

Copyright and related rights waived via CC0.