Aave DAO's Bold Move: White-Label Lending on Kraken's Ink Blockchain

Aave's First White-Label Venture

Holy smokes, folks! Aave DAO is making waves with a fiery proposal to launch a white-label version of their lending protocol on Kraken's Ink blockchain. This isn't just another day in DeFi—it's a game-changer, blending the wild world of decentralized finance with the structured realm of centralized platforms. Buckle up!

Overwhelming Support from the Community

Since the DAO proposal sparked on July 17 via Snapshot, it's been nothing short of explosive. Aave's smart contracts are set to shine under a new brand, courtesy of the Ink Foundation. And guess what? The Aave (AAVE) DAO is all in, with a whopping 790,000 votes backing this move as we speak. The clock's ticking, with the deadline set for July 21. Will they make it? You bet!

A Strategic Partnership with Big Plans

This isn't just Aave's first white-label rodeo—it's a strategic alliance aimed at spreading their tech far and wide. Plus, they're eyeing new revenue streams through a juicy revenue-sharing deal with Ink. It's a win-win, people!

Building on Ink: The Ethereum Layer-2 Powerhouse

Get ready for a lending platform like no other, built on Ink—an Ethereum (ETH) layer-2 beast that's part of the Optimism (OP) Superchain. Kraken users, you're in for a treat with onchain loans powered by Aave's core lending magic, all under the watchful eye of the Ink Foundation. It's the best of both worlds, baby!

Bridging DeFi and Centralized Oversight

This move isn't just bold—it's brilliant. By merging centralized oversight with DeFi's wild spirit, they're crafting a regulatory-friendly playground that's sure to lure in the big institutional players. And for Kraken's existing crowd? It's a golden ticket to dive into DeFi without the hassle.

Incentives to Get the Party Started

To kick things off with a bang, the Ink Foundation is throwing 4% of its INK token stash to the early birds. And Aave DAO? They're not sitting on the sidelines—they're seeding the liquidity pool with AAVE tokens and their GHO stablecoin. It's a DeFi fiesta!

Aiming High: $250 Million in Deposits

Hold onto your hats, because Aave and Ink are shooting for the stars with a goal of $250 million in deposits. That's no small feat, especially when Ink's total value locked is currently hovering below $10 million. But hey, when you're up against giants like Coinbase's Base, with its $3.7 billion, you gotta dream big!

A Win-Win for All Parties

This deployment is like a triple threat. Ink gets a flagship app to boost its layer-2 game, Kraken beefs up its product lineup with a rock-solid DeFi backend, and Aave? They're diversifying their revenue without messing with their core decentralized mojo. It's a slam dunk!

The Community Weighs In: Governance and Decentralization

But hold up—Aave's community isn't just nodding along. They're diving deep into the nitty-gritty of governance and the trade-offs of decentralization, especially with the Ink Foundation calling the shots. If this gets the green light, expect a thorough audit before launch, with Ink steering the user-facing ship.

Exclusivity: Ink's Got the Spotlight

And here's the kicker—for at least a year, Ink's the only white-label partner in town, thanks to an exclusivity agreement. It's their time to shine, and they're not sharing the stage!