Reading time saved: 8 minutes
1 replies, 248 views, 10 likes
The Aave Grants DAO (AGD) proposal to extend its tenure for another six months received overwhelming support, with plans to increase its GHO allowance by $328,000 and fund $500,000 in developer grants per quarter. Despite 7.6% of AGD-funded projects being inactive, the AGD has been crucial in fostering Aave's growth, awarding $4,852,753 across 249 grants, and promoting GHO adoption, with initiatives like Dullahan attracting over 3,000 AAVE in deposits.
This discussion revolves around the Updated Aave Grants Continuation Proposal, which was put forth by 0xbilll1. The proposal aims to extend the Aave Grants DAO (AGD) for another six months, preserving the current AGD treasury holdings and increasing AGD’s GHO allowance by $328,000. This will enable AGD to fund $500,000 in developer grants per quarter, drive Aave’s culture and GHO adoption, and lay the groundwork for the next phase of AGD's evolution. The proposal received overwhelming support in the Snapshot vote, with 99.9% of all votes in favor.
The community has shown significant engagement and growth across various platforms, with the most notable increases on Lens and Mirror, with growth rates of 211% and 223% respectively1. The AGD has processed 1,944 applications with an average turnaround time from application submission to grant decision of 9.6 days1. The GHO release was a significant event for the Aave community, and AGD has been promoting awareness about GHO's launch and encouraging early development with GHO across the four hackathons that were sponsored1.
The continuation of the AGD is a positive development as it has been instrumental in supporting the growth of the Aave ecosystem by funding innovative projects and fostering a strong and inclusive culture around Aave. Since its inception, AGD has awarded $4,852,753 across 249 grants1. The AGD has also participated in 14 hackathons, awarding $150,000 in Aave and GHO specific bounties to 58 teams1. Many of these teams have continued contributing to Aave and GHO, with five projects receiving grants1. The launch of a hub for GHO, Dullahan, which generates passive income for stkAAVE holders and offers GHO borrowers reduced interest rates, has already attracted over 3,000 AAVE in deposits1.
There are no significant negative aspects highlighted in the discussion. However, it's worth noting that 7.6% of the projects funded by AGD are currently inactive1. This could potentially be a point of concern, but it's not unusual for some projects to not reach completion in such initiatives. The AGD has introduced initiatives to increase grantee accountability and engagement with the community, which should help address this issue1.
Posted 19 days ago
Last reply 19 days ago
Summary updated 19 days ago
Last updated 04/12 00:17