PANews reported on July 9 that according to DL News, MakerDAO's lending protocol Spark (a branch of Aave v3) was accused of violating the agreement with Aave DAO. According to representative Marc Zeller, in February 2023, Phoenix Labs, the company behind Spark, proposed to share 10% of the protocol's profits over two years as a thank you for using the Aave code. The proposal estimated that Spark would pay Aave a total of $2 million. But Zeller said Spark did not fulfill its obligations under the agreement. He said: "Due to some creative accounting operations by MakerDAO, the actual revenue share is closer to 1%."
Zeller called for a more collaborative approach from the two DAOs and urged other Aave DAO members to weigh in on the issue, asking for comment to give the DAO the option of declaring MakerDAO in violation of the protocol and treating Spark as an “unsanctioned fork of the Aave codebase.” The event comes amid growing competition between the two giants of decentralized finance (DeFi), with Aave surpassing MakerDAO this year to become the third most valuable DeFi project.
