Aave Labs Proposes Establishment of the Cayman Aave Foundation; Phase 1 Covers Entity Registration

According to Huoxing Finance, Aave Labs, the developer of the decentralized lending protocol Aave, has posted an ARFC on its governance forum proposing the establishment of the Aave Foundation. This entity will be a memberless foundation company incorporated in the Cayman Islands and will hold the Aave trademark and related intellectual property on behalf of the Aave Protocol. The proposal covers only Phase 1, including entity registration and the appointment of initial independent directors and overseers. The transfer of trademarks, domain names, and codebase intellectual property, as well as operational scope, will be addressed in subsequent phases and require separate governance proposals. Phase 1 seeks funding solely for registration, legal expenses, and reasonable costs associated with appointing directors, overseers, and a secretary; no ongoing budget is requested, and future funding must be proposed separately. The foundation will be established under the Foundation Companies Act, with its charter limited to holding, protecting, and licensing intellectual property for the Aave Protocol. Aave Labs, DAO service providers, and their affiliates are prohibited from appointing directors or overseers or serving in such roles. After initial appointments, director appointments and removals shall occur exclusively via AIP. If this ARFC achieves community consensus, it will proceed to a Snapshot vote, followed by an AIP to authorize associated expenses, after which registration in the Cayman Islands and final appointments will be completed.