Aave

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Title: [ARFC] Cancel Llama Service Provider Stream Author: Marc Zeller @marczeller - Aave-Chan Initiative Date: 2023-07-30

Summary

This ARFC proposes to cancel the Llama stream from the Aave DAO

Motivation

Llama has historically been a service provider for the Aave DAO and has made numerous contributions. However, during their tenure, there have been several instances where Llama’s performance has fallen short of expectations.

For instance:

• Llama’s handling of the crucial CRV AIP was a clear demonstration of their inability to deliver a much-needed payload in a timely manner. The delay in execution resulted in an additional cost of approximately $1 million for the DAO due to the increased valuation of CRV. This incident underscores the need for service providers who can reliably deliver on their commitments and highlights Llama’s underqualification for the task at hand.
• Despite receiving $1.5 million from the DAO, Llama charged third parties for consulting services related to Aave, including teams seeking asset listings.
• As treasury managers, Llama failed to ensure that the collector contract had an adequate aUSDC balance. This oversight resulted in several service providers going unpaid for weeks, tarnishing the DAO’s brand and reputation…

Given these circumstances, we believe that the most beneficial course of action for the Aave DAO is to end our relationship with Llama. This will allow the DAO to reassess its needs and budget for a new service provider.

The ACI and other service providers will complete any outstanding tasks from Llama’s engagement at no additional cost to the DAO.

By terminating Llama’s stream early, the DAO treasury can save up to approximately $240k. These funds can then be reallocated to other initiatives, ensuring the most efficient use of the DAO’s resources.

Specification

The AIP will call the cancelStream() method of the Ecosystem Reserve and Aave Collector contracts. The details are as follows:

• Ecosystem Reserve Contract: 0x25F2226B597E8F9514B3F68F00f494cF4f286491
• Stream: 100001
• Aave Collector Contract: 0x464C71f6c2F760DdA6093dCB91C24c39e5d6e18c
• Stream: 100003
• Address: 0xb428C6812E53F843185986472bb7c1E25632e0f7

Disclaimer

The Aave-Chan Initiative is not presenting this ARFC on behalf of any third party and is not compensated for creating this ARFC.

Next Steps

• If the community approves ARFC via Snapshot vote, Publication of an AIP implementation.

Copyright

Copyright and related rights waived via CC0.