Llama Delegation Thread

Title: Balancer DAO <> Llama
Discussion: Llama Delegate
Authors: @Matthew_Graham, @MrMadila, @defijesus.eth, Austin, Shreyas and @0xrajath
Created: 28.07.2022



Llama is the leading governance contributor for DAOs, working on protocol engineering, treasury allocation, and analytics. We have implemented protocol upgrades, designed treasury strategies and liquidity incentive programs, and built financial dashboards and reports.

Our freshly created veBAL snapshot profile:


Llama members have read and understood the Delegate process: Yes

Llama members understand that becoming a delegate is a significant commitment: Yes

Our Reasons For Wanting To Be A Delegate

Members of Llama have executed more than 100 meta-governance proposals and have a deep appreciation for community engagement and understanding the nuances of DAO governance. Llama intends to be an active, reliable and an impactful delegate. Llama, with input from members of various DAOs across DeFi, will provide a high context, unique perspective whilst being active in the community and contribute towards achieving the DAO vision/goals.

Our primary goal is to actively help communities achieve their ambitions. With so many Balancer v2 deployments, there is no shortage of opportunity and there is plenty that can be done to help grow the Balancer ecosystem. In helping grow the DAO’s revenue, Llama will encourage and support other communities to build on top of Balancer. Members of the Llama team are already working with Balancer DOA, have deployed liquidity pools on Polygon and would like for Llama to be a trusted delegate within the Balancer community.

Our View On Fernando’s Vision For Balancer

Fernando’s vision for Balancer is excellent. Balancer v2 offers a lot of added functionality and customisation that other DEXs do not offer. Balancer v2 can be used as a DEX and as an asset management platform which is something other DEX dApps are unable to offer. Llama wants the Balancer dApp to become the base layer that others build on top of because it offers the best User Experience.

For Balancer DAO to reach this objective, Balancer dApp must offer a User Experience that competes/betters other DEX’s. A better UX will lead to Balancer gaining a larger share of the DEX market and with all the Asset Manager features, the dApp will truly blossom.

It is great to see Balancer v2 launched on Mainnet, Polygon, Arbitrum and now Optimism. Llama hopes the DAO continues to deploy on other networks and even one day enable Users to perform a swap on one network utilising liquidity from another network. Aave v3 is moving in this cross chain transfer direction and an omni network DEX would be a first. Enabling liquidity to move between networks whilst remaining within Balancer pools will enable new types of financial products to be built on top.

Forming strong relationships and a vast network within DeFi is critical to creating growth opportunities through collaboration. Supporting projects via the Grants DAO is a great way to encourage collaboration and the new veBAL tokenomics provides a means of further encouraging Users to adopt/interact with the Balancer dApp. The design surface area with many v2 deployments and new pool types is extensive, and encouraging communities to build on top of this new infrastructure is fantastic for the long term growth prospect of Balancer DAO.

Our Web3 Interests

Llama is already proactively working with partners to bring new opportunities and new sources of revenue to the community. We will be active in governance decisions across several communities and will be focused on identifying new use cases, opportunities in driving growth to our partners.

Languages Llama Speak/Write

Members of Llama speak/write the following languages to various degrees of fluency.

  • Italian
  • Spanish
  • English
  • Portuguese
  • Chinese Mandarin
  • Hindi,
  • Kannada
  • Tamil

Our Values

At Llama we believe in being open, building trust through Llama collaboration and realising possibilities together as a team. Our values are at the centre of everything we do. They shape how we act with each other, our partners and help us to achieve our vision of helping communities realise their full potential.

Our foundational beliefs, reflect our values:

  • Rigor. Work done by Llama is of the highest quality. We care deeply about getting the details right in anything we do: smart contracts, governance forum posts, or analytics dashboards. .
  • Trust. We seek to actively earn the trust of the DAOs we work with. We involve the community in our rationale and progress and incorporate feedback where relevant.
  • Transparency. We believe in open lines of communication and are comfortable working in a DAO-native manner.

The Team

There are numerous other contributors to Llama, some contributing to the Balancer ecosystem and others contributing to other leading DeFi communities like Aave and Maker.

The names below reflect those who wish to share their background/involvement on the forum, who are also founding members of Llama and intend to contribute to the Balancer ecosystem.

  • Matthew Graham(Matthew_Graham on the forum, Matthew_Graham_ on Twitter). Mechanical Engineer with 12+ years of industry experience, bachelor degrees in Mechanical Engineering, Investment Finance and Corporate Finance. Published numerous ARCs with a good understanding of defi legos, risks, governance, value flow (tokenomics) and fund management.

  • DefiJesus (defijesus.eth on the forum, eldefijesus on twitter). I am a Software Engineer with 10+ years of building products from zero to one and I have been over 1 year full time working on the EVM. I contribute at Llama, founded the Buzzed Bear community and also an Index Coop Owl. I am currently writing the payloads for listing DPI and DAI on the Aave Arc market, along with several other assets on Aave v2 on mainnet.

  • MrMadila - (mrmadila on the forum, mistermadila on twitter). 10 year Tradfi background in prime brokerage, asset management, stock loan and operations. Defi UX Maxi and Index Coop core contributor leading or co leading treasury, growth and liquidity since 2020.

  • Rajath Alex (0xrajath on the forum, 0xrajath on twitter) Rajath is a Founding Engineer at Llama. Prior to Llama, he was a Senior Software Engineer at Chainalysis in the protocol team where he led the engineering and data efforts for adding assets, protocols and blockchains to the Chainalysis platform. His domain expertise resides in Smart Contract Engineering and Data Engineering with respect to EVM blockchains.

  • Austin (AustinGreen on twitter). Co-founder of Llama, solidity engineer, previously senior software engineer at Chainalysis. Has smart contracts via Aave governance.

  • Shreyas Hariharan (HelloShreyas on Twitter). Co-founder of Llama, lead at Aave Grants, has worked on treasury strategies for Aave, Uniswap, and Gitcoin, previously led crypto efforts at Duke’s endowment.

Snapshot Profiles:

Name Link
Matthew Graham Snapshot
MrMadila Snapshot
DefiJesus Snapshot
Austin Snapshot

Previous Improvement Proposals

The below provides a list of previous governance submissions that members of Llama have been involved in / implemented.

[Proposal] Onboard Fire Eyes DAO as Strategic Partner
[Proposal] Authorize Treasury subDAO to Allocate BAL to Turbo
[Proposal] Governance Process Revamp 2.0 1
[Proposal] Commission quarterly financial reports through the Messari Hub
[Discussion] Boost the wETH:wstETH Pool
[Proposal] Whitelist Index Coop’s Investment Account Gnosis Safe for Balancer’s VotingEscrow
[Proposal] Strategic Partnership with Aave DAO
[Proposal] Whitelist the Aave Mainnet Reserve Factor for Balancer’s VoteEscrow

Do note some proposals are submitted by Llama contributors whilst contributing at other DAOs.

Liquidity pools deployed by members of Llama:

Delta Neutral ETH pool
Delta Neutral MATIC pool
Delta Neutral wBTC pool

Other Partners

Llama has expressed a desire to support the Aave DAO, Maker DAO, Balancer DAO and Index Coop communities. All of these DAOs are already working with Balancer DAO in some capacity with the exception of Maker. All of Llama governance participation is public and we will abstain from voting if ever a conflict arises.


If anyone would like to delegate to Llama, please use the following delegate address: 0x64cc60a9F6F97ddCb8ac1378dA9390b85Be6dA37.


Copyright and related rights waived via CC0.


Strong team! I’m really glad to see this initiative.


I’ve been following Matt’s work with other protocols and also Balancer for quite a long time. I can only say great things about them. They manage to connect the dots between protocols (like using AAVE’s DAO funds in a neat way using Balancer pools) like few other people in DeFi.

I’m super glad to see Andrea joining this team as he’s done so much for Balancer and has always been a true believer in the protocol.

Hope to see more such heavy weight teams joining Balancer governance as delegates!


Having worked closely with multiple members of Governance House, both inside and outside of Index Coop, I’ve seen an unparalleled amount of expertise and experience. Deep knowledge in both DeFi mechanics and technical integrations is hard to come by. This team has all of that plus a willingness to grow the DeFi ecosystem collaboratively.

I am very excited about the future of GH and hope to see more efforts that grow all of our communities together. Looking forward to continued progress in governance as we build the future of france


Hi everyone :wave:

We have some exciting news! But before that, we want to thank those members of the community that have delegated to us. We are privileged to represent you within the community and look forward to being active in helping Balancer flourish.

Governance House has teamed up with Llama and going forward will adopt the Llama branding. We are combining both communities, engineering teams and sharing our knowledge to bring a stronger contributor to the community. Shortly, we will update the original forum post to reflect these very recent changes. We are excited for the future and are already working on several initiatives in effort to bring TVL to the Balancer ecosystem.

Thank you for all the early support here and in the many communication channels we have open with various community members.

Matthew Graham


[BIP-29] Introduce GaugeAdder v2

voted YES.

[BIP-30] Purge Unused Gauges

voted YES.

[BIP-31] Authorize the Batch Relayer v3

voted YES


voted YES We are in favour of having new teams collaborating to the Balancer ecosystem.

[BIP-33] Orb Marketing Budget Proposal for the Remainder of Q3

voted YES Marketing is an important play to spread awareness around Balancer. Moreover we fully support the current Marketing team given their track record.

1 Like

[BIP-37] Allocate BAL Liquidity to Polygon & Arbitrum Multichain Bridge

Vote: YES. Bridging is needed and liquidity plays an important part.

[BIP-38] Request for BAL Allocation to Orb Collective

Vote: YES. In full support to the Orb Team.

[BIP-39] Repay Aura Treasury for Unclaimable Rewards

Vote: YES. Small amount to keep a good and fruitful relationship with Aura

1 Like

Hi Everyone :wave:

[BIP-56] Re-enable CREAM/WETH 80/20 Gauge [Ethereum]
Vote: NO. We are pro the Balancer ecosystem and this proposal is net negative for the community.

[BIP-57a] Introduce Gauge Framework v1
Vote: YES. In full support of this proposal.

[BIP-57b] Introduce Gauge Framework v1
Vote: YES. In full support of this proposal.

[BIP-58] Increase Snapshot Quorum
Vote: YES. In full support of this proposal.


Hi Everyone :wave:

[BIP-59] Enable MAI/USDC Gauge on Ethereum
Vote: YES In full support of this proposal.
Llama would love to see a bb-a-USD / MAI pool emerge on Ethereum.

[BIP-60] Enable XSGD:USDC “FXPool” Gauge [Polygon]
Vote: No. Llama believes this should be capped at 2%.

[BIP-61] Operating Procedures for DAO’s Selling Their Locked BAL Position OTC
Vote: YES. In full support of this proposal.

[BIP-62] Stable v2, composableStable, Weighted v2 Permission Granting
Vote: YES. In full support of this proposal.

[BIP-63] Enable IB/WETH 80/20 Gauge w/2% emissions cap [Optimism]
Vote: No Would prefer to see more traction before incentivising this pool.

[BIP-64] Revised Gauge Migration to Composable Stable Pools
Vote: YES. In full support of this proposal.

[BIP-65] Enable INV/DOLA 50/50 Gauge on Ethereum w/2% emissions cap
Vote: YES. In full support of this proposal.

[BIP-66] Migrate Lightly Used Gauges to Capped
Vote: YES. In full support of this proposal.

[BIP-67] Enable rETH/RPL Gauge [Ethereum]
Vote: YES. In full support of this proposal.

[BIP-68] Enable wstETH/LDO Gauge [Ethereum]
Vote: YES. In full support of this proposal.

Hi Everyone :wave:

[BIP-69] Whitelist Beethoven X Gnosis Safe for Balancer’s VotingEscrow
Vote: YES In full support of this proposal.

[BIP-70] Authorize the Batch Relayer v4
Vote: YES In full support of this proposal.

Hi Everyone :wave:

[BIP-73] Whitelist the gauge for the USDD/FRAX/USDC Pool to receive BAL emissions

Vote: NO as we do not support the Tron stablecoin at this point in time.

[BIP-74] Fund the Balancer Maxis for Q4 2022

Vote: YES in full support of this proposal.

[BIP-75] Orb Marketing Budget Proposal for Q4

Vote: YES in full support. The reduced budget and focus on supporting the launch of Managed pools is great to see.

[BIP-76] Balancer Grants Budget Proposal Q4 2022

Vote: YES in full support and really like how this proposal utilises existing funds.

[BIP-77] Friendly Balancer Protocol Fees for Integrators

Vote: YES in full support of this proposal. Aligning long term incentivise with those that build on top of Balancer is positive sum and drives the DAO forward in a really collaborative manner which is great for the longevity of Balancer.

1 Like

Hi everyone :wave:

[BIP-78] Delegate Aave Holding to Llama

This vote is self serving and therefore Llama elected to not participate. We are excited to see this vote pass and look forward to representing Balancer DAO within the Aave Community.

[BIP-79] Enable COMP/wstETH Gauge [Ethereum]

Vote: YES in full support.

[BIP-80] Enable bb-rf-asUSD/bb-rf-aUSD Gauge [Optimism]

Vote: YES in full support. This is an exciting pool that offers Liquidity Providers yield beyond swap fees and incentives.

[BIP-81] Enable wstETH/bb-rf-aUSD/bb-rf-aWBTC 50/25/25 Gauge [Optimism]

Vote: YES in full support, as above.

[BIP-82] Enable bb-rf-aWETH/wstETH Gauge [Optimism]

Vote: YES in full support, as above.