AAVE提議推出Horizo​​n，這是一項新計劃，致力於建造機構Defi產品

領先的Defi協議AAVE已宣布計劃啟動Horizo​​n，這是一項針對製造機構Defi產品的新計劃。由晶體。

Leading decentralized finance (DeFi) protocol Aave has announced plans to launch Horizon, a new initiative focused on building institutional DeFi products. The protocol founder, Stani Kulechov, announced this on X, noting that this initiative will take decentralized finance to the next level.

領先的分散財務（DEFI）協議AAVE宣布了計劃啟動Horizo​​n的計劃，這是一項針對建造機構Defi產品的新計劃。協議創始人Stani Kulechov在X上宣布了這一點，並指出該倡議將將分散的財務提升到一個新的水平。

According to him, solutions that integrate real-world assets (RWA) into DeFi are needed to bring institutions on-chain. Horizon plans to achieve this by incorporating the best of Aave technology stack to build products for institutions.

據他說，需要將現實世界資產（RWA）納入DEFI的解決方案才能使機構紮根。 Horizo​​n計劃通過將最佳的AAVE技術堆棧納入為機構製造產品來實現這一目標。

The official post from Aave Labs (Labs) also confirmed the initiative, noting that the first Horizon product will allow tokenized money market funds (MMFs) to serve as collateral for institutions when they want to borrow stablecoins such as USDC and GHO on-chain.

AAVE LABS（LABS）的官方帖子也確認了這項倡議，並指出第一個Horizo​​n產品將允許令牌化的貨幣市場基金（MMFS）在他們想藉用USDC和Gho等穩定的股份時作為機構的抵押品。

The post reads:

帖子讀取：

“By aligning with institutional standards while preserving DeFi’s core efficiencies, Horizon unlocks a compliant, scalable, and accessible pathway for institutions and tokenization platforms to engage in decentralized finance.”

“通過與機構標准保持一致，同時保持DEFI的核心效率，Horizo​​n為機構和代幣化平台提供了合規，可擴展和可訪問的途徑，以進行分散的財務。”

Meanwhile, Kulechov explained that the inspiration behind Horizon is the growth of the RWA sector in recent years, with on-chain US treasuries alone accounting for around $4 billion in total value locked (TVL).

同時，庫爾喬夫（Kulechov）解釋說，地平線背後的靈感是近年來RWA行業的增長，僅鍊子上的美國國債就會佔總價值鎖定約40億美元（TVL）。

Despite this growth, Aave Labs noted that there are still several structural gaps because DeFi’s open architecture is not suitable for institutional needs. Thus, Horizon is about closing these gaps by building solutions specifically for institutions. The firm is now calling on institutions such as liquidity providers and RWA issuers to collaborate.

儘管增長了這種增長，但AAVE實驗室指出，仍然存在幾個結構性差距，因為Defi的開放式體系結構不適合機構需求。因此，Horizo​​n是要通過專門為機構建立解決方案來縮小這些差距。該公司現在呼籲流動性提供商和RWA發行人等機構進行合作。

Unsurprisingly, some users have asked why there is a need for a new protocol when Aave Arc already serves institutions. However, Kulechov explained that Horizon offers permissionless liquidity with permissioned collateral, while Arc offers permissioned liquidity and collateral. He added that Horizon builds on lessons from Arc.

毫不奇怪，一些用戶問為什麼當AAVE ARC已經為機構服務時需要新協議。但是，Kulechov解釋說，Horizo​​n通過許可抵押提供了無許可的流動性，而ARC提供了許可的流動性和抵押品。他補充說，Horizo​​n建立在Arc的課程上。

Aave Labs proposes licensing Aave Instance for Horizon

AAVE LABS建議為Horizo​​n許可AAVE實例

Following the announcement, Aave Labs has submitted a proposal to the Aave DAO to license an Aave instance for the new platform. Kulechov explained that this licensed instance will be the foundation for all projects under the Horizon initiative.

公告之後，AAVE Labs已向AAVE DAO提交了一項建議，以許可新平台的AAVE實例。 Kulechov解釋說，此許可的實例將是Horizo​​n倡議下所有項目的基礎。

According to the proposal, the Horizon RWA product will launch using an instance of Aave V3 before transitioning to Aave V4 when the latest version is available.

根據該提案，Horizo​​n RWA產品將在最新版本可用時使用AAVE V3實例啟動，然後過渡到AAVE V4。

Key features of the proposed Horizon protocol include permissionless USDC and GHO stablecoins; eligible users can borrow stablecoins; integration of approved RWA ERC-20 tokens; RWA issuers having asset-level permission management; etc.

建議的地平線協議的關鍵特徵包括無許可的USDC和GHO Stablecoins；符合條件的用戶可以藉用穩定的用戶；批准的RWA ERC-20代幣集成；具有資產級許可管理的RWA發行人； ETC。

In return for licensing an Aave instance, Horizon wants to share profits with Aave DAO. The profit-sharing arrangement will see Aave DAO get 50% in the first year with a reduction over the next three years until it gets to 10% from the fourth year onward. There is also a provision that if Horizon launches a token, Aave DAO will get 15% of the allocation.

作為許可AAVE實例的回報，Horizo​​n希望與AAVE DAO共享利潤。利潤分享的安排將使AAVE DAO在第一年獲得50％的速度，並在未來三年內減少，直到從第四年開始達到10％。還有一條規定，如果Horizo​​n推出了令牌，則AAVE DAO將獲得15％的分配。

The proposal claims that Horizon will benefit the Aave ecosystem in several ways by boosting GHO stablecoin adoption, generating more revenue for the DAO, and making Aave the preferred DeFi platform for institutions.

該提案聲稱，Horizo​​n將通過增強GHO Stablecoin的採用，為DAO產生更多收入，並使AAVE成為機構的首選Defi平台，從而使AAVE生態系統受益。

Community members express concerns about Horizon diluting AAVE value

社區成員表示關注地平線稀釋AAVE價值

Moreover, there have been mixed reactions to the announcement from Kulechov, with many praising the initiative. However, some Aave DAO community members have voiced concerns over how the idea of creating a new token for Horizon could dilute AAVE token value.

此外，對庫爾喬夫的宣布，許多人讚揚該倡議。但是，一些AAVE DAO社區成員對如何為Horizo​​n創建新令牌的想法表達了擔憂。

Several users within the community have said they will vote against the proposal because of the plan to introduce a token. One user, Gregrwalsh, said the idea of a new token and declining revenue-sharing percentage make the proposal questionable.

社區中的幾個用戶表示，由於計劃引入令牌的計劃，他們將投票反對該提案。一位用戶格雷格瓦爾斯（Gregrwalsh）說，新的代幣和收入分享百分比下降的想法使該提案值得懷疑。

He wrote:

他寫道：

“Not a fan of the proposed token launch. Unclear to me why diluting the Aave token makes sense. If for some reason a new token is needed there should be a 1:1 relationship to Aave tokens and holders receive their allocation accordingly.”

“不喜歡擬議的令牌發布會。我還不清楚為什麼稀釋隔音是有意義的。如果出於某種原因需要一個新的令牌，則應與Aave代幣和持有人相應地收到其分配的1：1關係。”

Several other users share this view with some even saying they had to create an account just to express their view. However, Kulechov had explained on X that Horizon will not dilute Aave value and is, in fact, the “highest revenue stream proposal from all licensed instances.”

其他幾個用戶甚至與一些人分享此觀點，甚至說他們必須創建一個帳戶才能表達自己的觀點。但是，庫爾喬夫（Kulechov）在X上解釋說，Horizo​​n不會稀釋AAVE的價值，實際上是“所有許可實例的最高收入來源提案”。

Nevertheless, the strong opposition to the Horizon proposal in its current state means it is unlikely to pass unless Aave Labs changes key details. Several members of the popular Aave service provider and delegator Aave Chan Initiative (ACI), including its founder Marc Zeller, have also opposed the idea. Zeller stated that the ACI will not support the TEMP CHECK and that AAVE is the only token in the ecosystem.

然而，在當前狀態下，強烈反對地平線建議意味著除非AAVE實驗室更改關鍵細節，否則它不太可能通過。包括其創始人Marc Zeller在內的流行AAVE服務提供商和代表Aave Chan Initiative（ACI）的幾名成員也反對這一想法。 Zeller表示，ACI將不支持溫度檢查，並且AAVE是生態系統中唯一的令牌。