Odaily Planet Daily report: Aave Labs previously disclosed that it had submitted an ARFC proposal on the governance forum, proposing the establishment of a memberless foundation, the Aave Foundation, in the Cayman Islands. In response to community questions via an FAQ, it clarified that all matters—including protocol framework revisions—will continue to be decided by the decentralized autonomous organization (DAO) through existing processes. The Aave Foundation will hold asset ownership but will have no discretion over protocol decisions; the protocol itself remains governed by the DAO through token holders, with no shareholders above the Aave ecosystem. The same restrictions apply to all service providers hired by the DAO, including lists, parameters, budgets, vendor collaborations, and framework revisions.
In addition, the DAO may at any time replace the directors via an AIP, direct the foundation to dissolve, and determine the use of its remaining assets, including transferring them to a successor entity, all while adhering to the directors’ fiduciary and legal obligations and applicable laws.