Aave DAO approved the launch of a white label lending protocol by the Ink Foundation in the ARFC vote.

PANews July 21 news, Aave DAO passed a resolution in 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 Ink Foundation is a non-profit organization supporting the eponymous Ethereum Layer 2 incubated by Kraken. It is expected that the DAO will authorize the foundation to launch a centralized lending platform that is rebranded 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 certain percentage of the new platform’s revenue, calculated based on the lending volume of all liquidity pools, no less than an amount equivalent to 5% of the 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 the introduction of multiple liquidity mining programs aimed at attracting over $250 million in initial liquidity to the platform.