According to a report by 'The Block', Aave Labs founder Stani Kulechov confirmed that there are currently no plans to introduce new Tokens for the Horizon project based on the Consensus of DAO.
Aave Labs has proposed the Horizon plan, aiming to introduce real-world assets (RWA) into decentralized finance, targeting institutional clients.
Kulechov clarified on Sunday that Aave's proposed Horizon product will not create new Token.
The company's recent Horizon plan aims to combine real-world assets with decentralized finance and invite the community to provide feedback on Horizon's RWA product through temperature testing, targeting institutions.
One controversial part of the proposal mentions that if a new Token is created, Aave DAO may receive a 15% share and share the revenue. This has raised concerns that the new Token may dilute the value of existing AAVE Tokens and potentially weaken AAVE's position as the sole governance and utility Token.
There is strong opposition, with figures like Marc Zeller of the Aave Chan Initiative openly stating that they would not support the proposal in its current form.
Kulechov made a statement on the X platform to clarify the situation, stating that Aave DAO does not want to introduce additional Tokens, and developers will respect this Consensus.
Kulechov wrote in Sunday's X post, 'The overall Consensus of Aave DAO is not interested in introducing other Tokens, all Consensus will be respected; Aave DAO is a true DAO.' He added, 'Once the correct way is found, the exploration of RWA will continue.'
Subsequently, some community members expressed relief at this decision, believing that not introducing new Tokens is a positive move to protect the value and utility of AAVE.
Lito Coen of Socket Protocol said, "I'm glad this issue has been resolved, Aave is more decentralized than I imagined."
Aave Labs is part of Avara, and Aave is the largest decentralized lending protocol. The Horizon project is proposed under Avara, and will serve as an authorized instance of the Aave protocol, which means it will have its own configuration and operational parameters to serve the institutional RWA market.
Due to the cancellation of the new Token plan, it is still unclear whether Aave Labs will continue to push forward with the deployment of the Horizon project.
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Aave founder confirmed that no new Token will be created, and referenced DAO for the Horizon proposal Consensus
According to a report by 'The Block', Aave Labs founder Stani Kulechov confirmed that there are currently no plans to introduce new Tokens for the Horizon project based on the Consensus of DAO.
Aave Labs has proposed the Horizon plan, aiming to introduce real-world assets (RWA) into decentralized finance, targeting institutional clients.
Kulechov clarified on Sunday that Aave's proposed Horizon product will not create new Token.
The company's recent Horizon plan aims to combine real-world assets with decentralized finance and invite the community to provide feedback on Horizon's RWA product through temperature testing, targeting institutions.
One controversial part of the proposal mentions that if a new Token is created, Aave DAO may receive a 15% share and share the revenue. This has raised concerns that the new Token may dilute the value of existing AAVE Tokens and potentially weaken AAVE's position as the sole governance and utility Token.
There is strong opposition, with figures like Marc Zeller of the Aave Chan Initiative openly stating that they would not support the proposal in its current form.
Kulechov made a statement on the X platform to clarify the situation, stating that Aave DAO does not want to introduce additional Tokens, and developers will respect this Consensus.
Kulechov wrote in Sunday's X post, 'The overall Consensus of Aave DAO is not interested in introducing other Tokens, all Consensus will be respected; Aave DAO is a true DAO.' He added, 'Once the correct way is found, the exploration of RWA will continue.'
Subsequently, some community members expressed relief at this decision, believing that not introducing new Tokens is a positive move to protect the value and utility of AAVE.
Lito Coen of Socket Protocol said, "I'm glad this issue has been resolved, Aave is more decentralized than I imagined."
Aave Labs is part of Avara, and Aave is the largest decentralized lending protocol. The Horizon project is proposed under Avara, and will serve as an authorized instance of the Aave protocol, which means it will have its own configuration and operational parameters to serve the institutional RWA market.
Due to the cancellation of the new Token plan, it is still unclear whether Aave Labs will continue to push forward with the deployment of the Horizon project.