Overview

This update introduces one new grantee, outlines the Aave bounty winners from the ETHGlobal Istanbul hackathon, shares progress from previous grantees, and highlights what to look for next from AGD.

Grants Summary

Total numbers for the grants program’s spending are listed below starting from mid-May of 2021 when the program began up until the end of December.

• Total Grant Applications Received: 2394

• Total Applications Approved: 261

• Acceptance Rate:

  • Written (Stage 1): 11%

  • Video Call (Stage 2): 73%

• Total Amount Disbursed: $5,121,253

• Complete Grant Payments: 87%

• In-progress/Incomplete Grant Payments: 13%

• Status of all grants:

  • Complete/Live - 68.5%

  • In-progress - 25.6%

  • Inactive - 5.9%

• Amount and Quantity Approved by Category:

  • Category - $cumulative cost - number approved

  • Applications and Integrations - $2,858,566 - 119 grants

  • Code Audits - $110,000 - 4 grants

  • Committees & DAOs that Serve Aave’s Ecosystem - $703,780 - 20 grants

  • Community (Marketing and Educational) - $701,050 - 54 grants

  • Developer Tooling - $415,000 - 13 grants

  • Events / Hackathons / Sponsorships - $186,000 - 14 grants

  • Other - $294,900 - 12 grants

  • Protocol Development - $446,200 - 21 grants

Approved Grants

Throughout November and December, we received 145 grant applications and sent out funds for one new grant, covered in more detail below.

• Grant Name - $ total grant amount(payment type) - grant type

  • grant description - “grantee self-description”

  • use of funds

• Symbiosis - $7,500(full) - Applications and Integrations

  • Symbiosis enables seamless cross-chain deposit to AAVE pools from 19 chains. Using any token on any chain you can easily supply assets to AAVE pools via Symbiosis cross-chain zaps.

  • Funds will go towards developing and offering their unique cross-chain deposit solution into Aave

Grant Completions and Updates

Teams who have previously received grants from AGD were busy during November and December. See below for relevant updates and how each grantee impacts the Aave community.

• Clique launched their OP Red Wars campaign which encourages lending activity on Optimism, including the Aave v3 Pool. Right now, anyone can participate and claim activity-based attestations to have a shot at the total prize pool of 27,700 OP.

• Boardroom hosted and shared a recap of their first Aave community call. This offers a streamlined opportunity for the community to keep up with the Aave ecosystem and have important conversations.

• Range Protocol released their GHO-USDC liquidity vault. Liquidity providers can earn yield and help support the GHO peg. Incentives will resume soon along with their new GHO-USDT vault.

• Compass Labs integrated Aave into Dojo, an on-premises simulation and optimization platform. Users can now leverage Dojo’s data, simulation, and optimization platform to interact with Aave and manage on-chain risk.

• 1Delta shared a yield matrix for the Polygon Aave V3 Pool. Users can explore the Net APR from different pairs with up to 100% leverage.

• DeFi Simulator shared an update on the next phase of their simulation tool which will make it easier for the average Aave community member to understand the impacts of proposed changes to risk parameters. Risk parameters are currently complex and interconnected making it difficult for the average community member or delegate to make informed decisions on proposed risk parameter changes.

• Ambos Finance launched the beta version of their lending app built on the Arbitrum Aave V3 Pool. By leveraging account abstraction, a familiar mobile-first design through a progressive web app (PWA), and other key design decisions, Ambos is creating a simplified DeFi lending experience for both crypto natives and newcomers.

• OpenSky Finance launched their hybrid NFT lending and borrowing protocol built on Aave. Lenders deposit their BTC or ETH to earn passive income while increasing activity and driving new users to Aave.

Events Summary

During November, AGD hosted a small meetup at Devconnect for any attending grantees or individuals interested in building on Aave or learning about AGD. It was a successful meetup with about 25 grantees, community members, and builders coming through.

Also during Devconnect, AGD supported Aave Labs at the Aave booth and during the hackathon. Below are the teams that won the four sponsored prizes and a link to their hack.

• Best GHO Stablecoin Integration

  • PePay - A peer-to-peer mobile payments app inspired by Pepe’s vision of a world without payment-related middlemen.

  • Stabilan - Stabilan is a Decentralized Trustless Insurance Protocol. They present a use case where users can protect their assets from price crashes or stablecoins from de-pegging.

• Best Aave DAO Tooling

  • AAtomato - Demystifying account abstraction – Get ya wallet, all you need is a fingerprint or a face and get access to true Account Abstraction ERC 4337. Enables you to automate complex actions based on triggers and conditions in a safe way by remaining in custody.

  • Themis: ZKML Loyalty - Themis is a framework for improving protocol incentives and optimizing for long-term loyalty through data-driven analysis. It delivers those improvements in a trustless manner using Zero-Knowledge Proofs over the Machine Learning model results (ZKML).

Ongoing Updates

Next month we will host our upcoming grantee showcase. More details will be shared closer to the time via X.

Thanks for reading our November + December update and for continuing to keep up with the new teams building on Aave.