Aura Finance - Community Newsletter (November 26th, 2022)
Hello Meditators! Welcome to our eleventh Community newsletter and happy thanksgiving to all the North Americans in the Community. It has been a very busy period with increased volatility across the crypto and defi markets. Despite the broader market headwinds Balancer and Aura Finance have remained stable in both price and in utility! Aura’s strength has been driven by new partners and new protocols seeking to maximise their stake in the Balancer and Aura ecosystems. The more accumulation we see of Aura and Balancer the more we will see strength in the ecosystem and the greater the flywheel will be!
It continues to be important for the community to engage in productive and informative activities across social media to spread the good word about all the cool things that Aura Finance is building. With new partners coming on board all the time and Aura’s domination of the ETH LP positions on Balancer, the future continues to look very bright indeed!
@tokenbrice.eth has written a very detailed piece covering the Balancer wars and Aura Finance. The highlight is without a doubt the very well written article linked in the tweet. An absolute must read for anyone looking to understand a little bit more about the ecosystem! https://twitter.com/TokenBrice/status/1595770744314953733
WhaleStats (tracking crypto whales) has again given us some interesting Alpha on what is happening with the big wallets in DeFi. Aura finance continues to be one of the most used smart contracts on Ethereum! https://twitter.com/WhaleStats/status/1595787104503713795
altooptimo.eth@AltoOptimo is looking forward to the Euler money pools being included in Balancer and Aura Finance! https://twitter.com/AltoOptimo/status/1595121953677139968
Nexus Mutual @NexusMutual appear to be offering support to Aura positions for insurance and have provided some tweets to update the community. Very interesting stuff for those looking to insure their DAI or ETH positions. https://twitter.com/NexusMutual/status/1594707241654923264
Hodl Gvng @theability2 Is pretty keen to keep an eye on Aura Finance along with Curve and Aptura Finance. Lots to look at with Aura Finance! https://twitter.com/theability2/status/1594165418562048001
Koruna @0xKoruu4 is loving the new incentives and positions being offered by Stargate Finance. Stargate Finance has really increased their participation in the Aura and Balancer ecosystems and clearly the community is taking notice. https://twitter.com/0xKoruu4/status/1593775968967065600
Small Cap Scientist @SmallCapScience has continued his great work across a range of tweets and topics. Notably his recent tweet covering the fees generated and distributed from Balancer protocol relative to Curve was very well received. It is funny that Balancer and Aura finance are remaining under the radar, but what a better time to accumulate! https://twitter.com/SmallCapScience/status/1594195715768598528
Joel_ @0xJoel_ is keeping it real and promoting Aura and Balancer as a leading DEX. Love it. https://twitter.com/0xJoel_/status/1591882796653768704
@ApyVision have completed their Aura Finance integrations and are now providing some very detailed and well articulated summaries of Aura Finance positions. A really interesting and useful application https://twitter.com/ApyVision/status/1592729200250978305
@Hazbobo1 and ,|@OhmerSimpson33 have been responding to some Yearn finance Curve integrations. We couldn’t agree more, When Aura and Balancer!?! https://twitter.com/Hazbobo1/status/1593616124599468035
YouTube is the home of longer form content for Aura Finance, especially for news and updates.
Trantor and Market Capping continue to be the leaders in new Youtube content. Check them out. There are also some rumblings that we may see a Ceazor’s snack sandwich video in the near future covering Balancer and Aura Finance!
The Aura thread!
The contributors at Aura Finance have put together a killer thread on the ‘why’ and ‘how’ of Aura Finance and vote locked Aura. vlAURA holders directly control the more than 25% of veBAL owned by Aura DAO. This means that during Balancer’s gauge weight votes, which determines which pools get BAL rewards, vlAURA holders control 25% of all BAL emissions (~$200,000 per week). In line with the AURA emissions schedule, ~3.6 AURA is rewarded for every BAL minted with Aura deposits. That means Aura as a DAO controls ~$500,000 worth of incentives a week. Such juicy rewards are continuing to gain more attention and greater participation from other DAO who are looking to maximise their liquidity.
To stay up to date and to continue to support the ecosystem, make sure you read up on what the latest governance article written by Chrom. Some really interesting stuff! https://medium.com/@chromff9/a-primer-proper-governance-in-defi-fb1c3c717e7d
The Aura Helper Series
The 6 videos for the Aura helper series remain the best intro to new users on how to interact with Aura finance. Video 1 however, vote delegation, may become less relevant with the recent passing of AIP 17 and subsequent Balancer votes on the same topic. This is covered in the Voting updates paragraph below.
Silo Finance has requested a capital injection of $100,000 of AURA into the Silo Protocol - AURA market. This request is currently being voted on in AIP 18! The market is risk-isolated by design, ensuring depositors are not affected by contagion in other markets.
This liquidity can be removed at the behest of the Aura DAO at any time and would provide additional revenue to the Aura DAO.
This integration would become the first on-chain lending pool for $AURA, greatly expanding the use case for the Aura token.
Balancer Vote updates
With the newly passed voting methodology, Aura Finance will move to a more effective voting strategy to maximize the impact of Aura’s votes in the Balance ecosystem. As a user you can now expect to see Balancer votes posted directly to aura Finance Snapshot for voting. These votes will then be decided by direct voting from the Aura Finance community as long as a quorum of 20% of Aura tokens have voted.
This is an exciting and very positive step for the Aura ecosystem and for Balancer more broadly. Most notably it enables Aura to use its veBAL holding to vote on proposals that are in the best interests of the DAO. Also please note that “EagleEx” has resigned from their position on the delegate council.
To accumulate purple coin, @StargateFinance has deposited $23m worth of PCV into Aura. This comes after Stargate allocated $80,000 worth of voting incentives to the STG/bb-a-USD market in the last voting round and $72,000 in the current voting round. We are loving the commitment to the ecosystem!
To get the latest on Aura governance updates head over to the Aura Discord and track the channel ‘Governance updates’.
This newsletter is not official Aura correspondence and is written by community members.