The past week has seen a whirlwind of temperature checks and draft proposals from core contributors, representatives of DAOs, and community members focused on driving long-term sustainability and growth for Aura. These proposals remain in draft stage, though will be taken to vote in this next vlAURA voting cycle, starting Thursday July 21st.
This is the first of (hopefully) many somewhat-regular governance recaps, summarizing what members of the Aura DAO are thinking and will be bringing to vote in the coming voting cycles.
Core contributors PhiJFry and 0xButterfield are suggesting the redirection of rewards from the existing auraBAL liquidity pool to the new auraBAL gauge, recently approved by Balancer governance, along with Hidden Hand bribes for that same gauge. These rewards represent 10% of the total AURA supply, distributed over five years.
Against all odds, Aura’s bootstrapping was accomplished successfully with the support of our strong community. 1,078 ETH was deposited into our LBP by over 220 participants despite the worst possible market conditions. Check this chart out—it’s of the dollar value of ETH during the past week:
ETH raised will be used to bootstrap protocol-owned AURA/ETH liquidity, security measures (audits, bounties, etc.) for the protocol, and to pay back loans made by the core contributors to bootstrap development thus far. That’s to say, all ETH will be used to turbocharge Aura’s growth!
We have applied for a Balancer gauge for our protocol-owned AURA/ETH liquidity pool. Support for the proposal would be much appreciated (shout out to Aura protocol multisig signer Mike B for the support already) .
Security is a core tenet our contributors has been building around since Aura was ideated. We have been participating in multiple audits and have created bug bounty programs, as outlined in this blog.
More recently, we called upon key stakeholders in the DeFi community, including developers, investors, and founders, to support Aura via our protocol and treasury multi-sigs.
Aura will have two multi-sigs, one for protocol function (”protocol multisig”) and another for the management of the community treasury (”community treasury”).
Aura’s inception is just days away. If you’re wondering how AURA will be distributed over time, look no further than this blog.
Before diving into the nitty-gritty of how AURA will be distributed—largely to you, a member of the community—let’s cover what makes our tokenomics tick.
In case you missed it, Aura is an autonomous, non-custodial platform built to boost the yield and governance power of Balancer users and beyond. Our launch is right around the corner.
Last week, you were apprised about our plans for an airdrop and LBP to align key DeFi community stakeholders.
Today, we want to highlight our launch timeline and more about how we plan to kickstart the ve Balancer (veBAL) flywheel with a boosted launch pool, which in turn will make vlAURA a crucial medium through which users can direct Balancer governance and incentives.