The proposal presents the Balancer community the opportunity to delegate any AAVE and stkAAVE proposal power and voting rights to Llama.
Llama is an active contributor in both the Aave and Balancer communities and has been working to find synergies to unlock the growth potential across both ecosystems. We have noticed that Balancer is currently not active within Aave governance and we would like to present an opportunity to the community to delegate its governance influence.
Llama is a registered delegate within the Aave and Balancer ecosystems and would like to offer the Balancer community the opportunity to delegate to Llama.
Aave’s governance framework consists of two types of governance rights: voting rights and proposal power, . Llama will create an address specifically for Balancer’s delegated voting rights, (
0x16645967f660AC05EA542D3DE2f46E41b86436d9). Balancer’s proposal power will be delegated to an existing wallet (
0x55B16934C3661E1990939bC57322554d9B09f262) to help support the submission of AIPs for on-chain voting at Aave.
Since the AAVE <> BAL tokenswap, the AAVE holding has not participated within Aave’s governance, which is suboptimal given the ongoing need to encourage governance participation within DeFi. By delegating to Llama, Balancer’s AAVE and or stkAAVE holding will be utilized within Aave’s governance. Balancer’s voting rights will always be used to represent Balancer’s interest in the Aave community and, if there is ever any need, Llama will consult the veBallers via the Discord Ballers channel.
When considering if to delegate to Llama, let’s first recap some of Llama’s involvement within the Balancer community. To date, Llama has either led or been involved in the following initiatives.
- AAVE <> BAL token swap, .
- Llama veBAL Delegate, .
- Llama Aave Delegate, .
- Whitelist Balancer’s Liquidity Mining Claim, .
- Sturdy Finance Integration (coming soon).
- Sharing insights into the new ConstantStablePool and Linear Pool potential with potential partners.
- Developing potential new more exotic pools.
Llama voting records can be found on Boardroom and more recently Llama started compiling a delegation thread on Aave’s governance forum, [3,4]. Please note, this is not the address that Balancer will be delegating to.
Voting rights are to be delegated to a new address,
0x16645967f660AC05EA542D3DE2f46E41b86436d9, that only Balancer will delegate to. If Balancer ever wants to run its own Snapshot, veBAL holders can then vote and Llama will implement the vote from the address 0x16645967f660AC05EA542D3DE2f46E41b86436d9 on behalf of the Balancer community. On the majority of occasions, when no such Snapshot is created, Llama will vote from this wallet with Balancer’s interests front of mind.
Proposal power is to be delegated to a separate wallet from which AIPs are submitted. Do note, Index Coop currently delegates proposal power and voting rights to this address,
0x55B16934C3661E1990939bC57322554d9B09f262. At the time of writing, how this wallet votes is determined by Index Coop’s Snapshot and only Index Coop’s voting rights are delegated to this address, . Llama is a delegate at Index Coop which focuses predominantly on metagovernance votes, .
Llama will not use Balancer’s voting influence to advance itself within the Aave community, . When votes like this occur, we will reach out to the Balancer Snapshot authors and request a vote be created that Llama will then decline from participating in and will enact the vote cast by veBAL holders.
Balancer DAO delegates Aave governance proposal power to the following wallet:
Balancer DAO delegates Aave governance voting rights to the following wallet:
 BGD. Aave Tenderly CLI - Development - Aave
 Llama Delegation Thread
 Delegate to Llama - Delegate Platforms - Aave
 Updated Proposal: Llama <> Aave - Governance - Aave
 [ARC] Whitelist Balancer’s Liquidity Mining Claim - Governance - Aave
 Voting & Governance - Developers