- December vote rejected transferring Aave brand assets; 55% opposed, 41% abstained, only 3.5% supported the proposal.
- Aave DAO recorded $140M revenue in 2025, exceeding the combined total of the prior three years, per Kulechov.
- Founder Kulechov bought $15M in AAVE before the vote but did not use the tokens to influence voting outcomes.
Aave founder Stani Kulechov publicly addressed governance tensions after a December DAO vote rejected a proposal on brand asset control. This follows days of debate about Aave governance. Kulechov explained the vote outcome, disclosed record DAO revenue and clarified concerns around his recent AAVE token purchase.
DAO Vote Ends as Revenue Hits a Record Year
The December DAO vote focused on transferring Aave brand assets to the DAO, including trademarks, repositories, and the aave.com domain. Supporters argued the move would align control with economic risk. However, voting results showed limited support and closed in late December.
Snapshot data showed 55.29% voted against the proposal, while 41.21% abstained. Only 3.5% supported it. Notably, the outcome followed public disagreement across governance channels and social platforms.
During the debate, Kulechov disclosed that the Aave DAO generated $140 million in revenue during 2025. According to him, that figure exceeded the combined revenue of the previous three years. He emphasized that AAVE token holders control the DAO treasury holding those funds.
Alignment Questions and Founder Token Purchase
Following the vote, attention shifted toward alignment between Aave Labs and token holders. Kulechov acknowledged communication gaps around how Aave Labs products create value for the DAO. He said future disclosures would explain revenue flows, integrations, and product contributions more clearly.
However, the discussion intensified after Kulechov confirmed a $15 million AAVE purchase. Critics questioned the timing, as the purchase occurred shortly before the vote closed. In response, Kulechov stated the tokens did not participate in voting.
On-chain data showed the tokens were acquired near an average price of $176. The purchases coincided with a period of price weakness during the governance dispute. Snapshot data showed no voting activity linked to those tokens.
Voting Power, Allegations, and Ongoing Debate
Despite the vote result, governance concerns persisted. Some DAO members highlighted voting power concentration, citing Snapshot data. The top three voters controlled over 58% of total voting power, according to shared figures.
Wintermute founder Evgeny Gaevoy confirmed his firm voted against the proposal. He later said he expects a clearer value capture proposal from Aave Labs next year. Meanwhile, former Aave Labs CTO Ernesto Boado said the proposal advanced without his approval.
Additional criticism involved claims over CoW Swap fee routing. DAO member EzR3aL alleged some fees reached a wallet tied to Aave Labs. Kulechov denied controlling the vote outcome and reiterated support for multiple service providers across the ecosystem.
