[TEMP CHECK] Deploy a Dedicated Aave V4 Whitelabel Instance fully managed by EtherFi on OP
AI summary
This proposal asks the Aave DAO to approve the deployment of a dedicated Aave V4 instance on Optimism, which would be fully managed by Ether.Fi. This instance, called 'Ether.Fi Cash,' would serve as the credit backend for Ether.Fi's Visa card product, replacing their current custom lending system. Ether.Fi would operate the instance, including setting risk parameters and providing liquidity, while Aave would provide the V4 technology and earn a share of the revenue. The proposal includes a commercial package with a 20% revenue share for the Aave DAO, integration of Aave's stablecoin GHO, and a commitment to migrate up to $175 million in assets at launch.
If passed, Aave DAO would gain a new revenue stream from Ether.Fi Cash, potentially earning $1-1.2 million annually by late 2026, and increase the adoption and utility of its GHO stablecoin. Ether.Fi benefits by leveraging Aave's robust infrastructure, reducing their operational burden. Aave DAO takes on no direct risk from the Ether.Fi Cash market, as it is isolated and managed by Ether.Fi.
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🐳 Whale votes
8 votes > 5% VPFull proposal
[TEMP CHECK] Deploy a Dedicated Aave V4 Whitelabel Instance fully managed by EtherFi on OP Mainnet to Power Ether.fi Cash
Author: Ether.Fi
Date: 2026-07-07
Summary
EtherFi requests that a dedicated, EtherFi operated Aave V4 hub on OP Mainnet is deployed to serve as the credit backend for EtherFi Cash, our Visa card product used by tens of thousands of cardholders. This instance would replace the bespoke borrow/lend market (“Debt Manager”) that powers Cash today.
The instance is isolated and whitelisted: EtherFi operates it end to end - configuration, risk parameters, liq…