aave / aip Goto Github PK

Currently images referenced in the aip will be references streight from github.
Would be good if there was some logic to upload to ipfs & replace in the code or sth like that.

This is an issue from Crust Network team. We would like to contribute and provide a decentralized IPFS pinning solution for Aave aip file storage

Background

Recently, Uniswap has enabled decentralized deployment of websites by integrating Crust Network into Uniswap's release workflow.
The same integration was later realized by Polkadot, the PolkaApps is now hosted on Crust Network decentralized.

Aave also has a high influence in Defi ecosystem. We would like to contribute and provide a decentralized IPFS pinning solution for Aave aip files, to further increase the availability and decentralization.

Solution

We have built a standard Github Workflow to pin a website to Crust Network in a decentralized way: https://github.com/crustio/ipfs-crust-pinner.

We suggest some code changes after https://github.com/aave/aip/blob/master/.github/workflows/upload-ipfs.yml#L33 and https://github.com/aave/aip/blob/master/aip-uploader.js#L56 to include ipfs-crust-pinner. You can preview changes at our fork: https://github.com/decooio/aip.
The workflow execution will distribute Aave-aip over Crust Network and get about 100 IPFS replicas.

Additional Context

You can contact us at [email protected]. We can help prepare a code PR. The pin service will be free for Aave, and you can mail us for necessary seeds to call Crust IPFS Pin service.

About Crust

Crust Network (https://crust.network/) is a decentralized storage network based on IPFS and Substrate, and it basically provides decentralized IPFS service.
Now Crust is running preview network Maxwell and got 1000+ nodes joined in to provide IPFS storage (https://telemetry.polkadot.io/#list/Crust%20Maxwell).

More details of the integration of Uniswap is in Decentralized Uniswap Interface Hosting on IPFS.

Crust github URL:
https://github.com/crustio/crust

Crust docs URL:
https://wiki.crust.network/en

Currently the ci will upload all ipfs payloads on every run.
This is a waste of time and doesn't scale to well (2-3min ci run a bearable, but still 😿)

Ci should be improved to remember what ipfs are already uploaded.

Simple Summary

FRAX is a stablecoin issued by Frax. It boasts being the first algorithmic stablecoin backed by on-chain collateral.

Details: https://github.com/bribeprotocol/aip/blob/2EBB1254AFF0-AIP-ADD-FRAX-COLLATERAL-TO-AAVE-V2/content/aips/2EBB1254AFF0-AIP-ADD-FRAX-COLLATERAL-TO-AAVE-V2.md

Abstract

We propose to add FRAX as collateral to the Aave V2 market. Already used for lending on Aave, FRAX is an ideal candidate to be included on Aave as a collateral asset to provide more decentralized stablecoin alternatives.

The FRAX stablecoin is partially backed with on-chain collateral and partially backed algorithmically, according to a collateral ratio (CR) parameter that the system adjusts according to market conditions. In Frax v2, the protocol is able to mint FRAX into lending markets using Algorithmic Market Operations 2 (AMOs), smart contracts which have the ability to print FRAX up to certain thresholds adjustable by governance.

Motivation

The presence of stablecoins on Aave is a key benefit for lenders of the protocol, providing lenders borrow liquidity for stablecoins against volatile assets lent to Aave. FRAX, a reliable and popular stablecoin in DeFi, would be an asset to Aave in this respect. FRAX also brings a high volume of liquidity and motivated users, which would in turn direct more liquidity to Aave.

Most importantly, FRAX is already heavily used by Aave. Users are already able to lend FRAX through Aave. This demonstrates that Aave has tested and approved of FRAX and its stability. A total of 11.9M of FRAX has been borrowed through Aave, and there is 26.6M in available liquidity. Given the success of FRAX on Aave, the next step is to enable FRAX as collateral.

FRAX has remained pegged to USD since its launch in 2020. The 30 day high and low are $1.03 and $0.9741 respectively. FRAX is partially backed with on-chain collateral and partially backed algorithmically, a somewhat different approach to soft-pegging than other stablecoins. FRAX has shown undeniable success in maintaining its peg at $1. FRAX is ranked number eleven out of all stablecoins on the market based on market capitalization.

FRAX is already listed on Decentralized Exchanges (DEXs) such as Uniswap, Curve Finance, and Sushiswap. Overall, Aave already supports soft-pegged stablecoins that are backed by mechanisms such as on-chain collateral, algorithms, and arbitrage incentives.

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currently AIP naming is somewhat arbitrary.
The repo ensures collision free naming as it's just filesystem, so no name can appear twice.
Anyhow it's kind of a pain to ensure reasonable file naming.

My suggestion would be for the merge ci to:
a) read the title from the merged markdown -> rename the file to UPPERCASE_TITLE
b) check via ethers for deployed proposals -> prefix the aip with the proposalId to ID_UPPERCASE_TITLE

In theory we could also do both I guess.

The use of numbers to identify AIPs are confusing due to the idea that the number corresponds to the time of arrival to the on-chain governance.

Adjust the CI scripts and rest of the project to allow AIPs with no numbers.

The api repo has been a quite fundamental part of the aave governance process over the last few years. That said over time it convoluted a bit and there are things that could be simplified imo to make the processes less error prone.

Website

The website has not been updated for months and is very much incomplete.
As there's a well working governance ui at https://app.aave.com/governance/ and an ipfs preview mode at https://app.aave.com/governance/ipfs-preview/?ipfsHash=0xf6e50d5a3f824f5ab4ffa15fb79f4fa1871b8bf7af9e9b32c1aaaa9ea633006d I think at this point there's little point in trying to revive the website. Therefore I propose to remove the website to not confuse the few ppl accidentally accessing it #180

• done

Accessing ipfs hashes 1

Ipfs hashes are currently stored in separate json files ipfs-aipfs/proposal-hash.json.
While I guess that is okay, it would be nice to have a list with proposals and their respective hash.
Therefore in #180 I added a ci which will automatically update a list inside the readme.

• done

Typescript

While this repo is mostly *.md and json files the scripts are not necessarily easy to follow and update.
Therefore i'd propose to use a simple ts-node flow so we can utilize some code type highlighting #180.

• done

Dependency hygiene

There are a lot of outdated and unnecessary dependencies in npm, but also workflow.
We should update to more recent versions of things #180

• done

While for the above statements I don't expect much resistance, for the following I expect a bit more discussion needed.

Proposal naming

Currently there is a name generator in the codebase which forces ppl to use a HASH-TITLE nomenclatur which is hard on the eyes and makes finding aips more complicated than it must be: https://github.com/aave/aip/tree/master/content/aips
While i'm fine with uppercase TITLE the HASH part seems like adding unnecessary complexity.
For ipfs-hash generation the filename doesn't play any role, so i'd suggest to go with TITLE only.
If there would ever be a naming-conflict ppl will realize (as the file already exists) and rename.

• done (first part)

Removing state

Having status in the markdown seems like a unnecessary complexity to me. It's adding 0 value as a proposal will not be merged when it's not ready and once it is the state will always be the same. Would recommend to remove.

• done

Branching

There's currently a mostly outdated master and a Pending-AIPs branch. I'd recommend to make Pending-AIPs the default branch and deleting master for now so that ppl start off with the correct branch. Once all the proposed changes are integrated we can then fork of to main and have main as the single working branch.

• done

Accessing ipfs hashes 2

Currently ipfs hashes are only generated once the aip pr is merged. This makes kinda sense to prevent people from proposing unreviewed AIPs. That said, at the same time it doesn't as ppl might still rush ahead and create a proposal ditching the aip process all together. Therefore it might make sense to use a ci to comment current ipfs hash on pending prs automatically, so if they at least have correctly formatted ipfs hashes (even when not caring about a review). Also this allows ppl to preview the current hash in the ui so they can double check links render correctly etc.
Disclaimer: not 100% sure if i agree with this myself 🙄

• pending

Lmk what you think and i'll create prs for the other topics as well.

Simple Summary

MIM is a soft-pegged USD stablecoin minted by Abracadabra.money, a lending pool protocol that uses interest-bearing tokens as collateral to mint MIM.

Details: https://github.com/bribeprotocol/aip/blob/99DAB9099CD3-AIP-ADD-MIM-TO-AAVE-V2/content/aips/99DAB9099CD3-AIP-ADD-MIM-TO-AAVE-V2.md

Abstract

Add MIM to the Aave V2 market.

Interest-bearing tokens that can currently be used as collateral include liquidity provider (LP) tokens such as yvYFI, yvUSDT, yvUSDC, and xSUSHI as well as tokens from Convex and Curve. MIM is the core component to sustain Abracadbra.Money’s lending model. MIM remains pegged to USD via arbitrage incentives within the Abracadabra ecosystem.

MIM is an ideal candidate to be included on Aave to provide more decentralized stablecoin alternatives.

Motivation

The presence of stablecoins on Aave is a key benefit for lenders of the protocol, providing lenders borrow liquidity for stablecoins against volatile assets lent to Aave. MIM, a reliable and popular stablecoin in DeFi, would be an asset to Aave in this respect. MIM also brings a high volume of liquidity and motivated users, which would in turn direct more liquidity to Aave.

Already present on other lending protocols, MIM acts as a comparable alternative to stablecoins such as USDC, USDT, and DAI. The arbitrage incentives for MIM on Abracadabra also ensure that it will remain pegged to $1, typically done by automated bots that monitor pools for opportunities to capitalize on price differences. MIM has proven the stability of its peg over the past year. For example, the 30 day high and low for MIM are $1.03 and $0.9798, respectively. MIM is also ranked number six out of all stablecoins on the market based on market capitalization.

FRAX, a similar stablecoin listed on Aave, is also soft-pegged to USD and has remained at $1 since its launch in 2020. The 30 day high and low are similar to MIM, at $1.03 and $0.9825 respectively. FRAX is partially backed with on-chain collateral and partially backed algorithmically, a somewhat different approach to soft-pegging than MIM. However, both stablecoins have shown success in maintaining their pegs. Overall, Aave already supports soft-pegged stablecoins that are backed by mechanisms such as on-chain collateral, algorithms, and arbitrage incentives.

Twin

Originally posted by @Gconquer in #216 (comment)