Avantgarde Finance Delegate Platform

Governance Delegation
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Delegate Address: gov.avantgardefi.eth (0xb49f8b8613be240213c1827e2e576044ffec7948)
Email: governance@avantgarde.finance
Website: avantgarde.finance
Twitter: https://x.com/avantgardefi
Governance Lead: @justErik

Introduction

Avantgarde is a crypto native asset management, advisory and research firm, specialising in asset liability management, R&D, special situations, risk monitoring, DeFi and treasury strategies, as well as liquidity provision, token-related growth initiatives, and regulated DeFi products. Avantgarde has conducted work for leading protocols including Uniswap, The Graph, Gitcoin, Arbitrum, Nexus Mutual, Paraswap, and others.

What Avantgarde Brings

The core team behind Avantgarde brings a wealth of experience from firms like Goldman Sachs, BlackRock, Messari, Genesis, and has been active in DeFi for several years, notably as founders of the onchain asset management protocol Enzyme, which has been on mainnet since 2019 without a single major protocol incident. We also serve as active delegates on Uniswap, Compound, and Safe, where we’ve participated in initiatives such as the Uniswap Bridge Assessment Committee, contributed with R&D to various proposals in line with our expertise, instigated RFP processes as well as spearheaded governance proposals.

We will bring our expertise in protocol development and finance with lessons from other DAOs to build out an efficient governance system for Morpho, promote community-driven ecosystem growth, and push for Morpho to establish itself as a leading lending protocol while steering the DAO to financial sustainability; taking a long-term approach to this partnership.

Disclosure:

Avantgarde is actively contributing and working with a number of chains across the wider Ethereum ecosystem, and is currently a delegate on Uniswap, Compound, and Safe. We will look to leverage our network and experience from these ecosystems, and will diligently disclose any conflicts of interest should any such situation arise. Note that members of the Avantgarde team are active users of Morpho vaults on a personal basis.

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  • MIP80: Approve Review of Contributor Grants and Establish Formal Process

Voted in favour of the proposal, and pleased to hear that the Morpho Association will be transparent with yearly allocations going forward and seek final approval from the DAO.

  • MIP81: Morpho Grants Pilot Program

Voted in favour of the proposal as we’re happy with the structure of this initial pilot, which have clearly incorporated lessons and best practices based on delegate’s feedback and prior experiences from other DAOs. We shared some brief thoughts in the proposal’s forum thread.

  • MIP82: Increase MORPHO Reward Rate on Base

Voted in favour of the proposal as we think a 30% raise is a fair compromise from the proposal’s initial suggestion. However, we do agree with @Leuts’s point (here) on the need for better data to support rate changes and have expressed similar thoughts before here, which we believe is coming.

  • MIP83: Berachain Morpho License

Voted in favour of the proposal as we see this a different but great way for Morpho to grow beyond its own protocol, and evidence of the quality of its product. We’re excited to see the Morpho Association reveal the final details of the license agreement and hope it can set a fruitful precedent moving forward.

  • MIP84: Optimisers Deprecation Phase 3

From a risk management perspective, we think the proposed depreciation makes sense and see no issue with @MorphoAssocation’s suggested path forward - -hence, we voted in favour of the proposal.

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  • MIP 85: Whitelist Aerodrome in Aera Vault Strategy

Given both the overall growth of Aerodrome and its relative success compared to the Uni pools on Base, there seem to be little to no reason to vote against this. Hence we voted in favour,

  • MIP 86: MORPHO Reward Rate Changes

While we fully trust the Morpho Association to have the data supporting this proposal, we have not seen it and cannot make a reasonable call without it – hence we choose to abstain.

  • MIP 87: Crosschain Deployments Framework

We voted in favour of this proposal as we agree that it’s a smart way to scale Morpho organically through independent contributors without overextending resources, and clearly aligns with Morpho’s permissionless design and ethos.

  • MIP 88: Oku Crosschain Deployment Support

In the end we voted to support this proposal. @GFXlabs continues to prove itself as a great contributor and delegate whose expertise and direct, clear communication we always appreciate. Some delegates had raised valid concerns which we agreed with, but felt these were adequately addressed, hence our vote in support.

We voted in favour of the proposed phased implementation of the rewards multiplier to address some concerns about the initial changes being too aggressive. We see no downside to laying these concerns to rest as suggested.

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  • MIP 93 - Grants Pilot Program Selection, Part 1, 2 & 3.
    After reviewing the proposals we decided to support the following projects for this first grants pilot program. See summaries of rationales below:
  1. Tenor Labs: A toolkit that lets developers create fixed-rate lending markets, which can open up new possibilities for institutions/individuals who need stable rates. The team has solid experience at Notional and Morpho Labs, and the 35k MORPHO seems reasonable for the scope, especially since they already have a working demo.
  2. Stake DAO: Creating a system to use Curve LP tokens as collateral on Morpho while still earning Curve rewards increases the utility of LP tokens and could attract new users. Stake DAO is a well-established team with a good track record, and 25k MORPHO is a fair ask for this integration.
  3. Re7 Labs: Building a basic, customizable Morpho frontend that anyone can use which would simplify integration for new chains and projects. Re7 Labs has been around for a while and knows both the protocol and DeFi space well. 40k MORPHO is reasonable for a public good like this.
  4. Twyne Labs: Creating a “credit delegation” system where users can lend and borrow unused credit to improve capital efficiency and offer new yield opportunities. The team has a solid background and 50k MORPHO seems justified given the complexity and potential impact.

  • MIP 91: Update Multisig Signers

  • MIP 90: Spark USDC Deposit Rewards
    The Coinbase integration is a key channel for Morpho’s continued growth and success, and we support boosting incentives to capture users and TVL.

  • MIP 89: Morpho Olympics v1.1
    We voted yes on this as we do see how the deposit threshold can help managing reward distribution as Morpho grows, prevent dilution, and ensure rewards are tied to impactful contributions while also fostering a more competitive/high-quality landscape that drives innovation. While we understand that this may put the smallest curators at an initial disadvantage, higher barriers to entry can also improve quality by filtering out those who are not serious about building a sustainable curation business/simply there to grab rewards without necessarily contributing to the overall health of the protocol. This should however be monitored and adjusted if deemed necessary.

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Gm,

I hope all is well. I recently commented on another “Delegate platform” posting updates with no delegated tokens. If there is no delegated tokens to Avantgarde, do you believe you should be posting this? It comes across as spam in the forum in this case and there already is a ton of information to ingest and digest.

Thank you