PANews reported on October 3 that Aave Labs submitted an ARFC proposal at the Governance Forum, proposing to establish a non-membership foundation Aave Foundation in the Cayman Islands. The foundation will hold the trademark and related intellectual property rights of the lending agreement under the supervision of the Aave DAO. The proposal only covers the first phase, which only involves the registration of the foundation and the appointment of independent directors, supervisors and secretaries. The DAO will bear reasonable registration, legal and establishment costs, and there will be no ongoing budget. Aave Labs and DAO service providers are not allowed to appoint or serve as directors or supervisors; governance rights such as protocol listing, parameter adjustment, budgeting, and service provider selection still belong to the DAO. Subsequent transfers of trademarks, domain names, and code IP will be submitted for governance review separately, and the foundation will disclose its assets, operating expenses, and related legal actions on a quarterly basis.
If the community reaches consensus on this ARFC, the proposal will enter the snapshot phase, followed by the submission of an AIP authorizing reasonable incorporation fees, legal fees and director appointment fees. The company will then be registered in the Cayman Islands and independent directors and supervisors will be appointed. Transfer of intellectual property rights for trademarks, domain names, and code bases begins once the entity is established and able to hold title.