Governance Proposal Floated by Aave for Code Licensing Ended on Tuesday

December 15, 2021

Leading Crypto Trades


A governance proposal drifted by the Aave community based on the stage’s code licensing finished on Tuesday, with 55% voting for the ecosystem to apply for a business license.

This vote is basically a signal on whether or not the Aave community needs to protect its Intellectual Property from unauthorized use, or just allow anybody to utilize the code in any capacity they prefer, the proposal’s pseudonymous author clarified.

DeFi-Centric Funds One of the Main Proposals in Aave Ecosystem

DeFi-centric funds like Singapore-based DeFiance Capital called it one of the main proposals in the Aave ecosystem.

The proposal was important for Aave’s broader 3 delivery strategy, one that presents additional features, for example, cross-chain transactions, further developed risk mechanisms, a superior codebase for community contribution, and added component to advance use of layer 2 products, layer 2s are scaling solutions or executions that run on a primary blockchain.

Aave’s Token Holders Can Propose Further Improvements

Aave’s decentralized nature implies aave token holders can propose further improvements, combinations, and associations on its governance forums with proposals passed dependent on larger part votes which are determined on the measure of aave tokens used to put those votes.

One of the so-named blue chip DeFi cryptographic forms of money, Aave is an Ethereum-based, open-source protocol allowing clients to procure interest on deposits, borrow assets, and take out zero-collateral loans. It depends on smart contracts that computerize protocol administrations like other Decentralized Finance (DeFi) protocols.

A business license would mean any project or designer that utilizes Aave’s code for their project would need to take consent from a legal entity that would be set up to control such decisions. A MIT License, then again, would have implied minimal in the method of such restrictions. A greater part picked the former.


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