Coinspeaker

13 hour ago

0 0

– Aave DAO votes against transferring brand ownership to decentralized control – Record 1.8 million participants in Aave governance vote – 55.29% voted “NAY,” 41.21% abstained, 3.5% supported proposal – Criticism over rushed proposal during holiday period – Stani Kulechov emphasizes economic alignment with Aave token holders – Marc Zeller highlights record turnout as positive for decentralization – Wintermute’s Evgeny Gaevoy calls for further elaboration on proposal

The Aave DAO and community voted against transferring brand ownership from Aave Labs to the decentralized autonomous organization (DAO) governing the DeFi protocol. The proposal, called "[ARFC] $AAVE token alignment. Phase 1 – Ownership," suggested placing domains, social media accounts, and naming rights under a DAO-controlled structure but was rejected with 994,800 AAVE voting "NAY" out of 1.8 million participants.

Key Details

• The proposal aimed to transfer control of Aave's brand assets to prevent misuse.
• The vote saw record participation, with 55.29% against, 41.21% abstaining, and only 3.5% in favor.
• Critics argued the proposal was rushed during ongoing discussions and holiday periods.
• Concerns arose over revenue distribution and control of off-chain assets after Aave Labs redirected swap fees from the DAO treasury to a private wallet.

Comments from Key Figures

• Aave Labs CEO Stani Kulechov emphasized the need for clearer economic alignment between Aave Labs and $AAVE token holders.
• Marc Zeller, advocating for "ABSTAIN," highlighted the record turnout as a positive sign for decentralization.
• Wintermute CEO Evgeny Gaevoy pointed out mismatches between Aave Labs and token holders, advocating for "NO" due to lack of clarity.

On the same day, Uniswap approved a governance proposal involving a 100 million UNI burn and activating the fee switch.