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Aave DAO Approves Ink Foundation to Launch White Label Lending Platform, Expected to Attract Over $250 Million in Liquidity
Summary: According to The Block, Aave DAO recently approved the non-profit organization Ink Foundation to launch a white label lending platform based on the Aave V3 codebase with a 99.8% support rate through AFRC voting. Incubated by Kraken, the foundation is dedicated to developing an Ethereum Layer2 project of the same name. Ink will be authorized ...
According to The Block, Aave DAO recently approved the non-profit organization Ink Foundation to launch a white label lending platform based on the Aave V3 codebase with a 99.8% support rate through AFRC voting. Incubated by Kraken, the foundation is dedicated to developing an Ethereum Layer2 project of the same name. Ink will be authorized to launch a rebranded centralized lending platform as per the resolution. Service providers of Aave DAO will support the platform in the first six months after launch. In return, the DAO will receive a share of profits from the new platform based on lending volume, not less than the equivalent of a 5% reserve level. Additionally, Ink commits to not collaborate with other lending protocols within 12 months of platform deployment and will invest heavily in platform development, including launching multiple liquidity mining programs, aiming to attract over $250 million in initial liquidity.
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Link: Aave DAO Approves Ink Foundation to Launch White Label Lending Platform, Expected to Attract Over $250 Million in Liquidity [Copy]
