Aave

Author: HyperLend Team (0xNessus and fbsloXBT) Date: 2025-02-07

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Summary

This proposal seeks to recognize HyperLend as a friendly fork of Aave, deployed on the Hyperliquid EVM chain (HyperEVM).

HyperLend aims to support Aave’s ecosystem by sharing 10% of its protocol revenue with the Aave DAO and allocating 3.5% of its token supply to the DAO treasury. Additionally, 1% of the total supply will be airdropped to stAAVE holders, ensuring alignment with Aave’s community and stakeholders.

Motivation

About HyperLend:

This proposal seeks to establish HyperLend as a friendly fork of Aave, deploying multi-asset pools on HyperEVM to become the leading money market on the network.

Beyond core multi-asset lending pools, we will have isolated pools to support riskier assets, and we are working with vault curators to create optimized yield strategies on top of our markets. Additionally, HyperLend will tokenize the HLP vault and perpetual positions, which will be available as collateral in the isolated pools.

This will position HyperLend as the leading lending protocol on HyperEVM, driving liquidity and composability within the ecosystem. We are currently deployed on HyperEVM testnet (using MIT-licensed v3.0.2 codebase), with over 200k total users (10-20k daily, excluding known sybils).

We are working with Block Analitica as our risk manager, had additional audits done by Ackee, Cantina, and Pashov, and have partnered with Resolv, Swell, ThunderHead, Stargate, RedStone, Pyth, Theo and more.

By formally recognizing HyperLend as a friendly fork, Aave DAO can establish a mutually beneficial relationship with us, capturing additional value for the DAO and AAVE token holders, while allowing HyperLend to use its secure & battle-tested codebase.

Specification

We propose that HyperLend:

• share 10% of the revenue (derived from the Aave codebase*) with the Aave DAO (either distributed monthly or by using RevenueSplitter contract)
• distribute 3.5% of the HyperLend (HPL) token supply to the Aave DAO (at TGE)
• distribute 1% of the HPL token supply to stkAAVE holders (at TGE)

*revenue from isolated pools, P2P, and non-lending aspects of the protocol (such as potential tHLP fees) is excluded

In return, Aave DAO should:

• grant HyperLend the license to use the Aave codebase
• notify HyperLend of any potential security issues found in the Aave codebase, so we can mitigate them before they are publicly disclosed

Next Steps

• Receive the feedback from the Aave community
• Escalate this proposal to a Temp Check Snapshot
• If Temp Check snapshot passes:
  • publish an ARFC forum post
  • escalate the proposal to an ARFC snapshot

Copyright

Copyright and related rights waived via CC0.