VP of Engineering at @avara.
space nerd - my astrobin profile https://t.co/pJxenyMvcV
Opinions strictly my own
Jan 21 • 22 tweets • 5 min read
Walkthrough episode 3 - Using Risk Premiums to price risk and liquidity in @aave V4 ⬇️
If you missed the latest two episodes, here is the link to the second - - The first subtweet of episode 2 contains the link to the first episode. Highly recommended to go through them to understand the architecture and design philosophy of V4.
Walkthrough episode 2 - Fostering permissionless innovation with @aave V4 ⬇️
Before diving into ep2, make sure to reread ep1: Aave v4's basic architecture and the differences with the previous protocol iterations.
Link:
Welcome to the Aave V4 dive-in episode 1, this is gonna be a long journey so fasten your seatbelts ⬇️
The idea is to start sharing knowledge around the basic concepts of Aave V4 with the community while we are exploring and building them, to gather feedback and pave the road for the next major protocol upgrade 🔥
May 1, 2024 • 24 tweets • 5 min read
Today @avara, through @aave labs, published on the Aave Governance forum a new proposal aimed at introducing a series of innovations for the Aave ecosystem and GHO, most notably a new protocol iteration, Aave V4 👻
Here's all you need to know ⬇️ (warning megathread ahead!)
The Aave 2030 proposal highlights the commitment of Aave labs in building Aave V4, new and innovative facilitators for GHO (delta-neutral, RWAs), expanding Aave to non-EVM platforms and the introduction of an Aave dedicated network /
Nov 22, 2022 • 6 tweets • 1 min read
So the large crv short was completely cleared up, liquidations worked quite well but given the size of the position, 2.68M CRV (around 1.3M $ at current price) were left as bad debt.
It's well within the tolerance margin and can easily be covered. A 🧵
First of all, the bad; of course leaving bad debt is never pleasant. It is a small amount and still a fraction of the tvl of the protocol. The governance has many means to cover it without incurring in any liquidity problem. But, it's a (relatively cheap) lesson 🔽
May 12, 2022 • 10 tweets • 3 min read
A few of comments on the topic: ⬇️
1. if the spread blows out, worst case scenario the market gets a good arbitrage opportunity to buy stETH for cheap. sETH is perfectly fine and the temporary spread would easily be arbitraged. I would say there would be massive bids below 0.8
2. Aave would be most likely fine even in the worst of the scenarios. Spread caused by temporary depeg is unlikely to cause any insolvency long term.Any bad debt would become collateralized again once the peg restores (and the staking APY works in favor of making positions safer)
Mar 31, 2022 • 14 tweets • 3 min read
Aave V3 is by far the most advanced liquidity protocol in terms of features, security, and scalability - nothing else even comes close. Now it's time to consolidate the leadership - a few ideas worth building on top ⬇️🧵
- Tokenized high leverage forex: Use eMode to allow up to 50x long/shorts on EUR and USD. Build up positions using flashloans, tokenize the position to make it liquid
Jan 23, 2022 • 17 tweets • 5 min read
The hardest part of learning solidity and smart contract development is not the language, the assembly, or the optimizations. It's understanding that any choice you make, any mistake can have unforeseen, potentially devastating consequences. ⬇️
Blockchain is an extremely adversarial environment and smart contract development should be treated as mission critical software. I spent quite a lot of time reading and studying the software development guidelines by @NASA and other who focus on mission critical applications. /
Nov 6, 2021 • 7 tweets • 2 min read
A not-so-flashy, super cool feature of Aave V3 - repay using aTokens⬇️
In liquidity protocols like Aave or @compoundfinance, there is currently no protection against possible censorship by centralized entities controlling certain assets. This means that in the event the protocol smart contracts would be blacklisted, by, say, USDC /
Mar 23, 2021 • 10 tweets • 3 min read
Takeaways from a quick dive into the @Uniswap V3 smart contracts: ⬇️
Overall architectural complexity is up a notch compared to uniswap V1/V2. Expected given the additional features and the different approach in managing liquidity.
Jan 18, 2021 • 17 tweets • 4 min read
A thread on exposure ceiling: An alternative solution to supply cap and/or isolated lending pairs to reduce protocol exposure to individual assets, while maintaining all the benefits of aggregated liquidity markets like @AaveAave. ⬇️ governance.aave.com/t/brainstormin…
One of the biggest problems of liquidity market is the aggregated liquidity risk: Since the users deposits are aggregated to calculate his total borrowing power, it's extremely difficult to control the protocol exposure to a specific asset.
Dec 11, 2020 • 22 tweets • 5 min read
The @AaveAave Governance V2 is coming and is gonna knock your socks off. Inspired by other delegation based governance systems, but with some key innovations that make the Governance V2 the most inclusive yet flexible governance model out there. A thread ⬇️
The current governance system has been built to cover three needs: 1. Smooth the LEND -> AAVE migration process and allow LEND holders to vote 2. Hold the protocol and ecosystem keys during the transition 3. Facilitate the bootstrap phase of the Aave ecosystem
Dec 7, 2020 • 21 tweets • 5 min read
@aaveaave V2 is now 4 days old and has already crossed the 30M TVL mark🤯 While the relentless reviewing and monitoring work goes on, a thread on why there is a lot more to be excited about besides the launch day features ⬇️
First a recap of the main features available at launch - if you read the announement blog post, you already know about them - V2 users are enjoing a new UI (i know i know, the dark theme is coming), substantial gas reductions ( a loop deposit - borrow - repay can be 3x cheaper!)/
Aug 12, 2020 • 23 tweets • 6 min read
My audit/review of the YAM staking rewards contracts - thread ⬇️
TLDR The contract is largely based on the original Synthetix rewards contract developed by @k06a, which is battle tested and widely used in the industry.Changes are minimal and mostly related to config parameters.Below a description of all the differences, mergely.com/41sTVhit/
Apr 19, 2020 • 15 tweets • 6 min read
ELI15 of the Lendf.me attack that drained 25M funds - Thread ⬇️
The attack has the same roots of the one that drained the @UniswapProtocol imBTC/ETH pool yesterday. It leveraged the reentrancy surface provided by the imBTC implementation of the ERC 777 standards to drain all the funds.
