Aave must set up a foundation—first, see what level of permission it gets.
On October 2, Aave Labs published its first-stage proposal: it plans to establish a Cayman non-member foundation company. This stage only concerns the incorporation of the entity, the appointment of initial independent directors and an overseer, and related reasonable expenses.
The transfer of trademarks, domain names, and code intellectual property belongs to subsequent stages and needs to go back through the governance process each time. Under the proposal’s design, the foundation is responsible for holding, protecting, and licensing intellectual property; however, decisions about protocol governance, parameters, budgets, and the selection of service providers remain with the DAO. The foundation has no voting or veto power on these matters.
My take: this news should be split into two checklists—“who holds the assets” and “who decides the protocol.” The next thing worth verifying is evidence of governance authorization, entity formation, and the actual transfer of ownership; you cannot simply write the first-stage proposal as “the brand has already been transferred to the DAO.” At this point, it is still a proposal.
Source: Aave Governance Forum, “Foundation First Stage” (original text). $AAVE #protocol governance
On October 2, Aave Labs published its first-stage proposal: it plans to establish a Cayman non-member foundation company. This stage only concerns the incorporation of the entity, the appointment of initial independent directors and an overseer, and related reasonable expenses.
The transfer of trademarks, domain names, and code intellectual property belongs to subsequent stages and needs to go back through the governance process each time. Under the proposal’s design, the foundation is responsible for holding, protecting, and licensing intellectual property; however, decisions about protocol governance, parameters, budgets, and the selection of service providers remain with the DAO. The foundation has no voting or veto power on these matters.
My take: this news should be split into two checklists—“who holds the assets” and “who decides the protocol.” The next thing worth verifying is evidence of governance authorization, entity formation, and the actual transfer of ownership; you cannot simply write the first-stage proposal as “the brand has already been transferred to the DAO.” At this point, it is still a proposal.
Source: Aave Governance Forum, “Foundation First Stage” (original text). $AAVE #protocol governance
