PANews July 21 news, Aave DAO passed a resolution in the AFRC vote with a support rate of 99.8%, approving the non-profit organization Ink Foundation to launch a white-label lending platform based on the Aave V3 codebase. The Ink Foundation is a non-profit organization that supports the namesake Ethereum Layer 2 incubated by Kraken. The DAO is expected to authorize the foundation to launch a rebranded centralized lending platform based on the Aave codebase. Aave DAO's service providers will assist Ink's Aave V3 instance in the first six months. In exchange, Aave DAO will receive a percentage share of the new platform's revenue, calculated based on the lending volume of all funding pools, not less than the equivalent of 5% of reserves.
This move will also ensure that the Ink Foundation and its centralized partners will not seek to collaborate with other lending protocols for at least 12 months after the platform's deployment. On the other hand, the Ink Foundation will invest significant resources to launch and develop this Aave V3 white-label version, including launching multiple liquidity mining programs aimed at attracting over $250 million in initial liquidity to the platform.
