Aave Delegates' Gas Usage

    An analysis of gas usage by Aave Governance.

    AAVE, which stands for "Aave Protocol", is a decentralized lending and borrowing platform that operates on the Ethereum blockchain. AAVE is built on the idea of a "money market" protocol, where users can lend out their cryptocurrency assets to earn interest, or borrow cryptocurrency by putting up collateral.

    AAVE governance refers to the decentralized system by which decisions are made about the direction and operation of the Aave Protocol. This is achieved through a process called "governance voting", where token holders can vote on proposals related to the protocol's development, upgrades, and changes. This democratic process allows the Aave community to have a say in how the protocol evolves over time.

    Aave voting is the process by which token holders participate in the governance of the Aave Protocol. Through voting, token holders can express their opinions on proposals related to the development and evolution of the protocol. The Aave voting system is designed to be transparent and accessible to all token holders, ensuring that the community has a voice in the direction of the protocol.

    A vote is a formal expression of an individual's preference or opinion on a particular matter, such as a proposal or decision. In the context of Aave Protocol, voting is an important aspect of the governance process, allowing token holders to influence the development and direction of the protocol.

    Gas is a term used in the Ethereum blockchain ecosystem to describe the cost of computational resources required to execute a transaction or perform a smart contract function. Gas is denominated in units of Ethereum's native cryptocurrency, Ether (ETH), and is paid by users to the network as a fee for processing their transactions. The gas fee can fluctuate depending on the demand for network resources and the complexity of the transaction or function being executed.

    The purpose of this dashboard is to measure the amount of gas consumed in Aave voting transactions.

    In this dashboard, I will analyze the gas usage by delegates voting in Aave using Flipsides' tables:

    • ethereum.aave.ez_votes
    • ethereum.core.fact_transactions
    • ethereum.core.fact_hourly_token_prices
    Background
    1. voting activity
    2. gas spent
    3. gas fee usage in ETH volume
    4. gas fee usage in USD volume

    In order to calculate gas fee volume in $USD I used the hourly average price of WETH.

    Data source
    Methodology
    db_img
    Dashboard sections
    Time frame

    In terms of time frame, I considered the past 180 days and divided this period into two periods: the first 90 days and the second 90 days.

    Note that the big numbers show volumes for the past 180 days.