Aave Hands Its IP to the DAO — AAVE Price Cheers With an 8% High-Five 🫱

AAVE rose about 8% on Friday, climbing above $182 and briefly touching $187.50 for the session after Aave Labs unveiled a proposal to place the protocol's intellectual property under DAO control. The token's move came as Aave founder Stani Kulechov outlined a plan to "unify everything under one asset, AAVE."

The Aave Foundation proposal would create a memberless Cayman Islands foundation company to hold the Aave trademark, related trademarks, primary domains and assigned intellectual property rights held with service providers. Phase 1 of the plan is limited to incorporation and the appointment of an independent director and supervisor, with reasonable incorporation, legal, secretary and appointment fees paid by the DAO. Any subsequent trademark, domain and codebase transfers would require further governance proposals and approvals from AAVE tokenholders.

Under the framework, the foundation would have no vote, veto or advisory role in normal protocol governance. Listings, parameter changes, budgets, provider selections and framework changes would continue to be decided by AAVE holders, and the DAO would retain the power to appoint or remove directors through an Aave governance vote. The proposal is part of Aave's broader Aave Will Win initiative.

Kulechov said the long-term goal is to fully hand Aave's IP to the DAO, a step he argued would strengthen the protocol by consolidating ownership within the tokenholder community.