We dived into the project to see if they could do 10x TVL. Here we found something that will surprise you. Enjoy a 🧵 below 👇
1/27 Recently @AuraFinance joined @DefiLlama top20 TVL, and this is a real #alpha!
2/27 @AuraFinance is a ve-token aggregator for $BAL. It’s much like @ConvexFinance for @CurveFinance. In fact, Aura is a loose Convex fork used to aggregate yields from @balancerlabs
3/27 If you are not familiar with ve-tokens or want to expand your knowledge, here is a good thread on $veCRV and ve-tokens system
4/27 @balancerlabs competes with @CurveFinance, and $veBAL is based on the $veCRV mechanism. $BAL makes a difference because of the $80$BAL-20$WETH BPT lock that creates deep liquidity with a max 12-month lock, and $BAL farming and market dumping don't affect the price as much
5/27 In the first week of June, Aura owned 23% of $veBAL. It currently controls about 2.5M $veBAL, which is ~25% of the total supply. Holders of $veBAL can end distribution before the 100M limit is reached, so Aura can slow down the emission if it has enough $veBAL
6/27 $AURA emission is on the graphics below. The current total supply is 50m $AURA, and the max supply is 100m
7/27 There is a 25% total fee on all BAL revenue generated by @Balancer LPs on #Aura.
- 4% for $auraBAL stakers (paid as $BAL)
- 20.5% for $AURA lockers ($auraBAL)
- 0.5% for the harvest caller ($BAL)
8/27 According to Aura, they have no team, only contributors. But it’s crucial to mention treasury and protocol multisig signers, which include @0xMaki, @0xMaharishi, @0xAlunara, @0xSolarcurve, @Darrenlautf
9/27 Aura gives you the ability to lock $AURA for $vlAURA, which will provide you with voting power in @AuraFinance and also @balancerlabs. Locking is for 16 weeks period with a 1:1 rate with ~4-5% APR, and delegating voting power is available
10/27 Tokens can be used to vote for Balancer guage voting, and there is a Hidden Hand marketplace by @redactedcartel, that offers incentives for voting on specific guages
11/27 Important to note graviAURA by @BadgerGravity. Deposit and lock $AURA on Badger, and it will use $vlAURA to vote for bribes, sell them, and emit the proceeds back to holders in the form of $graviAURA and $BADGER
12/27 For more information on graviAURA check out @BadgerDAO's post
13/27 Recently the first wave of huge unlocks has come. The next big unlock will be in Dec, and after that will be unlock for those who relocked $AURA now, so it would be the second round of the current wave
14/27 After unlocking $AURA, you can relock it again for 16 weeks to not lose the voting power. Here is a graphics of relocking in the period of the big unlock round from 29th Sep to 27th Oct
15/27 The next interesting thing is $auraBAL minting and staking. You can mint $auraBAL with $BAL or 80$BAL-20$WETH. In the second case, you first need to deposit liquidity to the 80BAL-20WETH pool on @balancerlabs. Important to know that the process of minting is irreversible
16/27 After that, you can stake $auraBAL with APR around 50% or deposit & stake @balancerlabs LP tokens. Recently, during a huge unlock week, APR was higher than 60%
17/27 @AuraFinance is a layer above the Balancer ecosystem, which increases the risk of attacks and malfunctions because there is an additional dependence on Balancer stability
18/27 Currently, on the official docs, there is info about 3 audits by @peckshield, @code4rena, and @HalbornSecurity. Max bounty for critical bugs is $1m
19/27 If you are interested in contributing to the @AuraFinance ecosystem, you can apply for Aura Ecosystem Fund Grant. The Governing Committee decides to approve or not to approve grants on closed voting
forum.aura.finance/c/grants/8
20/27 There are now 8 grant proposals on the forum, 3 are rejected, 3 are approved, and 2 are under voting. One of the approved initiatives is the Aura Helper video series on youtube by @hoping_b
21/27 From the recent news and updates
@StargateFinance joined Aura Wars
22/27 @AuraFinance will migrate to multichain
23/27 @vestafinance commits to contributing protocol-controlled $veBAL to $auraBAL after Aura becomes cross-chain
24/27 A thread by @cvant_ on governance proposals, allowing the @Balancer LP positions to be used as collateral
25/27 Recently there were some talks about $TETU, but that incident was just a regular UI error, and considering it’s a dust noise
26/27 Here is the recent newsletter by the #Aura community
27/27 Will you invest in $AURA? Share your opinion!
Wait for our thread on how to earn with $AURA and $BAL, which would be at this week. Follow us to stay tuned!
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