A recap of the Aave ecosystem, June 21st to June 27th 2021

Aave News: Rewards Down, Heads Down, Resiliency Up 👀

Welcome to Aave News 👻 A direct injection of the latest and greatest in the Aave ecosystem.

🚨🚨 Handle information with care 🚨🚨

State of the protocol 📰

Matic moves. As usual, @RaphaelSignal gives an awesome rundown of Aave's metrics on Polygon. The thread focuses on the impact the 95% reduction in rewards has had. While TVL and revenue understandably declined, the protocol showed resiliency and even saw an increase in average daily users.


Mainnet moves. Another sign of Aave's resiliency is an increase in monthly borrowing volume in June. This is even more impressive considering the recent decline in prices. Browse more of Token Terminal's metrics for Aave here.


For more performance metrics, Aave's own @A_BertoG drops a weekly breakdown of protocol performance on the governance forum.

Ecosystem 🧉

Gitcoin hackathon. We are stoked to be sponsoring three bounties worth 15,000 USDC as a part of Gitcoin Round 10. Read the full challenge statement and make a submission. At the time of Aave News being uploaded today, there is still over 1 week before the hackathon ends!


Governance ⚖️

Aave on Snapshot. Gasless voting is live for Aave governance participants on both Ethereum and Polygon. Shout out to @Monetsupply for making this happen 🥳

It is still unclear how exactly the community will utilize Snapshot, but there are many possibilities outlined in the proposal and more use cases will likely arise over time. To encourage participation and experimentation, the threshold for submitting a proposal is low (one AAVE or the equivalent of your favourite staked variety), so submit a proposal if you have an idea that would benefit the protocol! Who will be the first user to make a non-test proposal!?


New market watch 💹