On February 28, news reports that AaveDAO is voting on a key proposal regarding whether to weaken the current flagship v3 version and pave the way for the yet-to-be-released v4. The vote will end on Saturday, and as of Friday evening, support votes are leading by a narrow margin of about 52%, with the situation still uncertain.
Since its launch in 2022, Aave v3 has performed steadily, accounting for over 97% of the protocol’s total deposits, generating approximately $184 million in revenue, with total deposits exceeding $26.3 billion. Some representatives are concerned that shifting strategic focus before v4 is implemented could weaken the protocol’s stability. In response, Aave Labs has adjusted its stance this week, slowing down user migration timelines and clarifying that migration will not be mandatory. They emphasize that v3 can operate long-term as long as the DAO deems it necessary.
Disputes also center around fund allocation. Aave Labs proposed reallocating revenue from its branded products back to the DAO and establishing a foundation to hold trademarks. They also requested $25 million for ongoing development, with an additional $17.5 million to be allocated after specific product launches. This has raised questions among some core representatives. Marc Zeller pointed out that the proposed funding amount is close to 31% of the DAO’s funds and suggested splitting the proposal into separate votes.
Additionally, Bored Ghosts Developing, a contractor founded by a former executive, announced it will not renew its contract this year, stating that pushing such changes on core revenue engines is “difficult to understand.” As topics like “When will Aave v4 be released” and “Aave DAO fund allocation disputes” continue to ferment, the outcome of this vote could have far-reaching implications for DeFi governance models and protocol upgrade paths.
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