Multicoin responds to the "Aave Will Win" proposal: Provides directional support and suggests optimizing the funding structure and revenue definition.

On February 14, PANews reported that Vishal Kankani, head of the investment team at Multicoin Capital, posted on the X platform that the firm expressed directional support for the "Aave Will Win Framework" proposed by Aave Labs. He believes that transferring 100% of the revenue from Aave branded products to the DAO is a meaningful strategic shift that will help build a cleaner token-centric economic model and, if implemented properly, could set an important precedent for the DeFi industry.

Multicoin also offered several suggestions for improvement to the proposal. Regarding the funding request totaling approximately $25 million in stablecoins plus 75,000 AAVE (worth approximately $40-50 million, representing 25-30% of the DAO treasury), Multicoin believes more detailed financial data and underwriting information should be provided to support the scale, and suggests allocating funds in stages according to launch milestones and measurable revenue targets. Regarding the definition of "100% revenue," Multicoin points out the need for a clear deduction framework, transparent product-level reporting, and independent profit and loss statement verification to ensure that revenue transfers have economic substance and are free from conflicts of interest. Variable grants should be based on actual economic value generated rather than product launch milestones, and an incremental net revenue sharing model is recommended. Multicoin also requires clarification on whether Aave Labs plans to develop non-Aave branded products and independent revenue streams to prevent ambiguity and ensure long-term strategic consistency.

Previously, it was reported that AaveLabs proposed transferring 100% of its protocol revenue to the DAO in exchange for operating funds .