Wu said he learned that Aave Labs submitted an ARFC proposal to establish a non-member Aave Foundation in the Cayman Islands to hold, protect and license Aave's trademarks, main domain names, protocol codes and related intellectual property rights. This is the first phase, which only involves the registration of the foundation and the appointment of independent directors, supervisors and secretaries. The DAO will bear reasonable registration, legal and establishment costs, and there is no ongoing budget. Aave Labs and DAO service providers are not allowed to appoint or serve as directors or supervisors; governance rights such as protocol listing, parameter adjustment, budgeting, and service provider selection still belong to the DAO. Subsequent transfers of trademarks, domain names, and code IP will be submitted for governance review separately, and the foundation will disclose its assets, operating expenses, and related legal actions on a quarterly basis.
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