Difference between revisions of "Agave"
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From the [https://forum.1hive.org/t/announcing-agaave-aave-on-xdai/1792 announcement]: | |||
''"Agaave is a [[decentralized]] [[non-custodial]] money market protocol where users can participate as depositors or borrower. It is a [[fork]] of [[Aave]], deployed on [[XDai (STAKE)|xDAI]]."'' | |||
==Basics== | ==Basics== | ||
| Line 5: | Line 7: | ||
*[[Mainnet]] release: | *[[Mainnet]] release: | ||
*Based in: | *Based in: | ||
==History== | ==History== | ||
| Line 13: | Line 12: | ||
* [https://forum.1hive.org/t/announcing-agaave-aave-on-xdai/1792 Created] by the people of [[1hive]] (19-1-2021): | * [https://forum.1hive.org/t/announcing-agaave-aave-on-xdai/1792 Created] by the people of [[1hive]] (19-1-2021): | ||
''"Currently, we have [[Honeyswap]], which allows users to trade on xDAI with super low [[transaction fees]]. Given the relatively low volume, the total fees generated in HoneySwap (0.3% per trade) are rather low, and as such we have subsidised [[Liquidity Provider (LP)|liquidity providers]] by allowing them to [[Simple Agreement for Future Governance (SAFG)|farm]] <code>HNY</code>. This has had mixed results.'' | ''"Currently, we have [[Honeyswap]], which allows users to trade on xDAI with super low [[transaction fees]]. Given the relatively low volume, the total [[fees]] generated in HoneySwap (0.3% per trade) are rather low, and as such we have subsidised [[Liquidity Provider (LP)|liquidity providers]] by allowing them to [[Simple Agreement for Future Governance (SAFG)|farm]] <code>HNY</code>. This has had mixed results.'' | ||
''With Agaave, we would enable users to [[earn]] a yield on regular HoneySwap [[Liquidity]] [[tokens]] without a <code>HNY</code> subsidy. It also adds extra incentives to [[liquidity providers]] by giving them an additional stream of income above the fees generated on HoneySwap. These are some ways that Agaave will provide <code>HNY</code> more utility as well as increase the price of <code>HNY</code>."'' | |||
==Audits & Exploits == | |||
*[[Bug bounty]] program can be found [insert here]. | |||
===Bugs/Exploits=== | |||
* [https://newsletter.blockthreat.io/p/blockthreat-week-31-2022?utm_source=substack&utm_medium=email From] Blockthreat (12-8-2022): | |||
''"Agave Finance fixed an uninitialized proxy [https://medium.com/@hacxyk/forked-protocols-are-not-battle-tested-agave-uninitialized-proxy-vulnerability-6b5d587b3a07 vulnerability] after it was responsibly disclosed by Hacxyk."'' | |||
* [https://www.theblockcrypto.com/post/137932/defi-protocols-agave-and-hundred-finance-exploited-on-gnosis-chain-for-11-million From] [[The Block]] (15-3-2022): | |||
''"An attacker has siphoned over $11 million from Agave and [[Hundred Finance]] in what appears to be a [[Flash Loan|flash loan]] [[reentrancy attack]] on both [[Decentralized Finance (DeFi)|DeFi]] protocols on the [[Gnosis Chain (GNO)|Gnosis chain]]. The [[DeFi]] platforms each [https://twitter.com/Agave_lending/status/1503725275917565954 confirmed] the hacks in [[Twitter]] posts on Tuesday, stating that their [[contracts]] have been [https://twitter.com/HundredFinance/status/1503754916300476420 paused] to forestall further damage."'' | |||
== Governance== | |||
===Admin Keys=== | |||
===DAO=== | |||
===Treasury=== | |||
==Token== | ==Token== | ||
===Launch=== | ===Launch=== | ||
| Line 28: | Line 41: | ||
*Code can be viewed [insert here]. | *Code can be viewed [insert here]. | ||
*Built on: [[xDai]] | *Built on: [[xDai]] | ||
===How it works=== | ===How it works=== | ||
=== | ===Fees=== | ||
===Upgrades=== | |||
===Staking=== | ===Staking=== | ||
===Liquidity Mining=== | ===Liquidity Mining=== | ||
=== | ===Scaling=== | ||
===Different Implementations=== | ===Different Implementations=== | ||
===Interoperability=== | ===Interoperability=== | ||
| Line 49: | Line 56: | ||
* From the [https://forum.1hive.org/t/announcing-agaave-aave-on-xdai/1792 announcement]: | * From the [https://forum.1hive.org/t/announcing-agaave-aave-on-xdai/1792 announcement]: | ||
''"Agaave flash loans are more powerful than most offered on [[mainnet]]. Users are able to borrow multiple tokens in the same transaction. Additionally, Flashloans in Agaave do not need to be totally paid back in the same transaction: Some of the loan can be added as debt if the user has enough collateral in the protocol."'' | ''"Agaave [[flash loans]] are more powerful than most offered on [[mainnet]]. Users are able to borrow multiple tokens in the same [[transaction]]. Additionally, [[Flashloans]] in Agaave do not need to be totally paid back in the same transaction: Some of the loan can be added as debt if the user has enough collateral in the protocol."'' | ||
==Oracle Method== | |||
== | == Privacy Method== | ||
== | ==Compliance== | ||
== | |||
==Their Other Projects== | ==Their Other Projects== | ||
==Roadmap== | ==Roadmap== | ||
*Can be found [Insert link here]. | *Can be found [Insert link here]. | ||
==Usage== | ==Usage== | ||
===Projects that use or built on it=== | ===Projects that use or built on it=== | ||
==Competition== | ==Competition== | ||
==Pros and Cons== | ==Pros and Cons== | ||
===Pros=== | ===Pros=== | ||
===Cons=== | ===Cons=== | ||
==Team, Funding, | ==Team, Funding, Partners== | ||
===Team=== | ===Team=== | ||
| Line 86: | Line 79: | ||
* From the [https://forum.1hive.org/t/announcing-agaave-aave-on-xdai/1792 announcement]: | * From the [https://forum.1hive.org/t/announcing-agaave-aave-on-xdai/1792 announcement]: | ||
''"Green Hornet is loaning the project <code>50 HNY</code> and <code>1000 DAI</code> to bootstrap the development of the project. The funds are held in this multisig 10. When we are halfway through the MVP development cycle, we will apply for the funds to be refunded from the honeypot.'' | ''"Green Hornet is loaning the project <code>50 HNY</code> and <code>1000 DAI</code> to bootstrap the development of the project. The funds are held in this [[multisig]] 10. When we are halfway through the MVP development cycle, we will apply for the funds to be refunded from the honeypot.'' | ||
''honeypooh will be doing the heavy lifting on the front end and as such will be compensated flat fee of <code>5000 DAI</code> for the MVP. The rest of the team (currently: anisoptera, sandpiper, monstrosity, greenhornet) will be paid $40/hr of work on the project."'' | ''honeypooh will be doing the heavy lifting on the front end and as such will be compensated flat fee of <code>5000 DAI</code> for the MVP. The rest of the team (currently: anisoptera, sandpiper, monstrosity, greenhornet) will be paid $40/hr of work on the project."'' | ||
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Making these free wiki pages is fun but takes a lot of effort and time. | Making these free wiki pages is fun but takes a lot of effort and time. | ||
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information. | If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information. | ||
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | ||
Latest revision as of 03:50, 15 August 2022
From the announcement:
"Agaave is a decentralized non-custodial money market protocol where users can participate as depositors or borrower. It is a fork of Aave, deployed on xDAI."
Basics
History
"Currently, we have Honeyswap, which allows users to trade on xDAI with super low transaction fees. Given the relatively low volume, the total fees generated in HoneySwap (0.3% per trade) are rather low, and as such we have subsidised liquidity providers by allowing them to farm HNY. This has had mixed results.
With Agaave, we would enable users to earn a yield on regular HoneySwap Liquidity tokens without a HNY subsidy. It also adds extra incentives to liquidity providers by giving them an additional stream of income above the fees generated on HoneySwap. These are some ways that Agaave will provide HNY more utility as well as increase the price of HNY."
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
- From Blockthreat (12-8-2022):
"Agave Finance fixed an uninitialized proxy vulnerability after it was responsibly disclosed by Hacxyk."
"An attacker has siphoned over $11 million from Agave and Hundred Finance in what appears to be a flash loan reentrancy attack on both DeFi protocols on the Gnosis chain. The DeFi platforms each confirmed the hacks in Twitter posts on Tuesday, stating that their contracts have been paused to forestall further damage."
Governance
Admin Keys
DAO
Treasury
Token
Launch
Token allocation
Utility
Token Details
Stablecoin
Technology
- Whitepaper can be found [insert here].
- Code can be viewed [insert here].
- Built on: xDai
How it works
Fees
Upgrades
Staking
Liquidity Mining
Scaling
Different Implementations
Interoperability
Other Details
Flashloans
- From the announcement:
"Agaave flash loans are more powerful than most offered on mainnet. Users are able to borrow multiple tokens in the same transaction. Additionally, Flashloans in Agaave do not need to be totally paid back in the same transaction: Some of the loan can be added as debt if the user has enough collateral in the protocol."
Oracle Method
Privacy Method
Compliance
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding, Partners
Team
- Full team can be found [here].
- Created by the people of 1hive (19-1-2021); anisoptera, sandpiper, monstrosity, greenhornet.
Funding
- From the announcement:
"Green Hornet is loaning the project 50 HNY and 1000 DAI to bootstrap the development of the project. The funds are held in this multisig 10. When we are halfway through the MVP development cycle, we will apply for the funds to be refunded from the honeypot.
honeypooh will be doing the heavy lifting on the front end and as such will be compensated flat fee of 5000 DAI for the MVP. The rest of the team (currently: anisoptera, sandpiper, monstrosity, greenhornet) will be paid $40/hr of work on the project."
Partners
(:
Knowledge empowers us all and will help us get closer to the decentralised world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
