Ether.fi has proposed deploying a dedicated Aave V4 instance on OP Mainnet to power the credit layer of Ether.fi Cash. The market would replace the proprietary Debt Manager currently used for borrowing by card customers.

The proposed instance would be isolated from Aave's shared markets. Only Ether.fi Cash users could borrow, while third parties could provide liquidity. Ether.fi would manage assets, risk parameters, oracles and ongoing operations, while Aave would provide the code and license in exchange for a share of revenue.

The proposal remains at the ARFC stage and does not represent a completed deployment. It expands Aave's role as credit infrastructure, but also separates the protocol brand from daily risk management, which would remain with an external operator.