Aave, a decentralized lending platform, may adopt fee switching to return a portion of the platform’s net excess revenue to its primary users.
Mark Zeller posted a “temp check” on Thursday. He is the founder of the Aave Chan Initiative (ACI), one of the leading independent organizations providing services to the Aave DAO. The next step is for the Aave community to weigh in on the issue and potentially move to a snapshot vote.
“With ACI, we believe DAOs are ready to take the next step in protocol maturity and present a clear path for the redistribution of protocol net surplus revenues to key participants in the Aave ecosystem for governance consideration, creating new positive dynamics and new synergies within the industry,” Zeller wrote in a tentative check.
Zeller also revealed on social media platform X that the proposal could lead to a re-staking of the Aave protocol, providing a new source of income for Aave and its users.
Aave is a decentralized lending protocol with over $12.5 billion in total locked value. In May, the protocol released its V4 roadmap, which included enhanced support for Aave’s GHO stablecoin and other improvements to the platform, The Block previously reported.
According to The Block Prices, Aave’s native token, AAVE, was trading at $91.27 after falling 3.13% over the last 24 hours.
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About the Author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin first broke $20,000. Since then, MK has written nearly 1,000 articles for the publication, covering all aspects of crypto news but with a penchant for NFTs, metaverse, web3 games, fundraising, crime, hacking, and crypto ecosystem stories. MK holds a graduate degree from the Science, Health, and Environment Reporting Program (SHERP) at New York University and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.