Aave DAO approves Ink Foundation to launch a white-label lending platform, expected to attract over $250 million in liquidity

ChainCatcher news, according to The Block, Aave DAO recently passed the AFRC vote with a support rate of 99.8%, approving the non-profit Ink Foundation to launch a white-label lending platform based on the Aave V3 codebase. The foundation is incubated by Kraken and is dedicated to developing the Ethereum Layer2 project of the same name.

According to the resolution, Ink will be authorized to launch a rebranded centralized lending platform. After the platform is launched, Aave DAO's service providers will provide support for the first six months. In return, the DAO will receive a revenue share from the new platform based on lending volume, with a proportion not less than the equivalent of 5% of reserves.

In addition, Ink has committed not to collaborate with other lending protocols within 12 months after the platform deployment and will invest significant resources to promote the platform's development, including launching multiple liquidity mining programs, aiming to attract over $250 million in initial liquidity.