Aave Labs Proposes Cayman Islands Foundation to Protect Intellectual Property

Aave Labs has submitted a proposal to establish an ownerless Aave Foundation in the Cayman Islands. The foundation will be responsible for holding, protecting, and licensing intellectual property such as the Aave trademark, key domains, and protocol code.

The proposal, known as Phase 1, covers only the foundation's registration and the appointment of independent directors, supervisors, and an executive director. The costs of registration, legal work, and establishment will be borne by the Aave DAO.

Under the proposal, governance powers such as protocol listings, parameter adjustments, budget planning, and selecting service providers will remain with the Aave DAO. Transfers of intellectual property rights for trademarks, domains, and code to the foundation will be subject to governance review on a case-by-case basis.

The foundation will disclose its held assets, operating costs, and related legal actions quarterly.