Aave Labs and MakerDAO Join Forces to Launch Sky Aave Force and Bridge the Gap Between DeFi and TradFi

In a partnership with MakerDAO, Aave Labs has launched Sky Aave Force to bridge the gap between decentralized finance and traditional finance, and drive

Aave Labs has joined forces with MakerDAO to bridge the gap between decentralized finance (DeFi) and traditional finance (TradFi) with the launch of Sky Aave Force. This initiative aims to propel mass adoption for DeFi.

Aave announced the launch on Twitter, stating that the initiative was spearheaded by Rune Kek and Stani Kulechov and boasts an ambitious goal. “An initiative by @runekek and @stanikulechov, Sky Aave Force has an ambitious goal: to drive mass adoption and close the gap between DeFi and TradFi. Now is the time to work together,” Aave posted on Twitter.

The company further noted that DeFi protocols have matured, showcasing resilience and market fit. "As @StaniKulechov says, DeFi protocols have matured, showing resilience and market fit. By working together, DeFi can become the backbone of all finance, enabling unprecedented access and propelling new use cases. We are no longer building on the sidelines; DeFi can empower all of finance.”

Aave Labs also announced the launch on its official website, highlighting that the initiative will serve as a limited-edition NFT collection that aims to close the gap between TradFi and DeFi. The initiative will feature several activities, including:

- Integrating USDS and Savings USDS (sUSDS) on Aave V3 with native token rewards.

- Creating a new Spark.Fi/ Aave market for seamless interactions and exclusive rewards.

MakerDAO has also proposed several initiatives, including:

- Adding USDS and sUSDS to Aave V3.

- Distributing Aave governance tokens to MakerDAO over three months.

- Launching a new market on Aave for sUSDS and USDS.

- Distributing Aave governance tokens to Spark.Fi over three months.

- Enabling interactions with Aave governance through Spark.Fi.

MakerDAO's proposal reveals that Aave protocol teams have agreed to split revenue from the sUSDS and USDS markets 50/50 with Spark. Given Aave's total value locked (TVL), which has crossed $12.34 billion, the proposals present an opportunity to explore synergies between Spark and Aave.

Upon receiving approval from the governance process, both proposals will be implemented at the next available opportunity following the launch of the USDS and sUSDS tokens on September 18th.

Aave's market performance over the past month has seen a surge of 21.70%, with the token currently trading at $133.07.