[ARFC] Recognize HyperLend as a Friendly Fork

Governance
1

[ARFC] Recognize HyperLend as a Friendly Fork

Author: ACI

Date: 2025-02-18

Proposal updated to reflect latest changes on negotiations 2025-03-07

Summary

This proposal seeks to recognize HyperLend as a friendly fork of Aave, deployed on the Hyperliquid EVM chain (HyperEVM), after successful TEMP CHECK and TEMP CHECK Snapshot.

Motivation

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.

About HyperLend:

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. In this sense, license to use the prior most recent release of Aave V3 (3.3) and any fix that could create functional or security issues with said version.
  • License will be limited to Hyperliquid EVM only.

Disclaimer:

This proposal is powered by Skywards. The ACI is not directly affiliated with Hyperlend and did not receive any compensation for creating this proposal.

Next Steps

  1. Publication of a standard ARFC, collect community & service providers feedback before escalating proposal to ARFC snapshot stage.
  2. If the ARFC snapshot outcome is YAE, publish an AIP vote for final confirmation and enforcement of the proposal.

Copyright

Copyright and related rights waived via CC0.

6 Likes
2

The current proposal has been escalated to ARFC Snapshot.

Vote will start tomorrow, we encourage everyone to participate.

3

After Snapshot monitoring, the current ARFC Snapshot ended recently, reaching out both Quorum and YAE as winning option, with 853.5K votes.

Therefore [ARFC] Recognize HyperLend as a Friendly Fork has PASSED.

Next step will be the publication of an AIP for final enforcement and confirmation of the proposal.