Aave Labs proposes establishing an Aave Foundation to hold and protect protocol intellectual property rights.

On October 3, the community of the decentralized lending protocol Aave published an ARFC proposal to establish a memberless foundation entity, the Aave Foundation, in the Cayman Islands to hold the intellectual property rights for the Aave trademark, core domains, and codebase.

According to the proposal's roadmap, the structure will be implemented in phases. Phase one will solely involve the establishment of the entity and the appointment of independent directors and overseers, with associated costs covered by the Decentralized Autonomous Organization (DAO) and no regular budget established. Neither Aave Labs nor other service providers hold the right to serve as or appoint directors. All governance decision-making power remains vested in the Aave DAO; the Foundation shall not exercise any governance, voting, or veto rights, with its sole responsibility being the legal holding and protection of relevant intangible assets on behalf of the protocol. If the community reaches a consensus, the proposal will subsequently be submitted to off-chain and on-chain governance procedures for a vote.