Luan LAG

AAVE Drama: Who owns the house, who holds the keys, and where does the money go? 🏠🔑💸

The latest AAVE governance fight isn’t about “anti-AAVE” vs “pro-AAVE.” It’s about one painful question:

Does AAVE token actually capture value? 💀

What’s the proposal?

Move control of Aave’s brand assets (domain, socials, IP, naming, front-end, etc.) from Aave Labs to the Aave DAO—basically, “DAO wants the keys.”

How did the vote go?

Community said “not like this”:

~55% Against

~41% Abstain

~3.5% For

What did Wintermute say?

Evgeny Gaevoy (Wintermute founder) confirmed:

Wintermute has held AAVE since 2022 and votes regularly

No equity in Aave Labs (they’re token holders, not company owners)

Their issue: the proposal is too vague—who runs the front-end/brand, for-profit or not, accountability, legal risk, and most importantly how value flows back to token holders. So Wintermute voted Against.

Why it matters

DeFi is in “grown-up mode”: protocols have real revenue and real brands, but the link between token ↔ team ↔ product ↔ cashflow is messy. The real investor question is:

What do token holders truly own?

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