In an AFRC vote, the Aave DAO has approved the Ink Foundation to launch a white-label version of Aave V3. The Ink Foundation is a non-profit organization supporting the Kraken-incubated Ethereum Layer 2 of the same name.
It was stated in Aave DAO’s proposal that “The Ink Foundation seeks to leverage Aave’s battle-tested infrastructure to create a native lending platform.” It added that “This partnership represents an opportunity for Aave to expand its influence in the institutional lending space while maintaining its commitment to technological excellence.”
With 99.8% in favor, the proposal passed, and the DAO expects to grant the foundation the license to launch a rebranded, centralized version of the lending platform that uses Aave’s codebase.
Aave DAO service providers will assist Ink’s Aave V3 instance for the first six months. In exchange, Aave DAO will receive a share of the new platform’s revenue, equal to or greater than the equivalent of a Reserve Factor of 5% based on borrow volume in all pools.
This initiative will also prevent the Ink Foundation and its centralized partners from seeking out other lending protocols for collaborations for a minimum of 12 months after deployment.
On the other hand, the Ink Foundation will dedicate substantial resources to launching and growing this white-label instance of Aave V3, including introducing several liquidity mining programs aimed at attracting over $250 million in initial liquidity to the platform.
DefiLlama data shows Aave V3 deployed across 17 different chains, including Ethereum, Arbitrum, Avalanche, Base, and Polygon.
