Aave Founder Pledges Clearer Economic Alignment as DAO Vote Ends

Aave founder Stani Kulechov has committed to ensuring a clear economic alignment between his company and AAVE token holders moving forward. His comment follows the DAO vote on the token alignment proposal, in which most token holders rejected the proposal to transfer the brand assets. Meanwhile, the AAVE token has rebounded today as the DAO saga cools off.

Aave Founder Pledges Commitment To The DeFi Giant’s Ecosystem

In an X post, Kulechov assured that he is committed to making the economic alignment between Labs and token holders clearer. He admitted that they haven’t done a great job explaining this and that they will do better going forward.

The Aave founder also pointed out that the DAO has earned $140 million this year, which is more than the past three years combined, and that token holders have control over this treasury. He further remarked that in the future, they will be more explicit about how the products the Labs team builds create value for the DAO and token holders.

Kulechov made these remarks after the token alignment proposal vote ended. CoinGape reported yesterday that the AAVE token alignment proposal was unlikely to pass, as most DAO members had either voted against it or abstained. The vote ended today with 55.29% voting against the proposal, 41.21% abstaining, and 3.5% voting in favor.

The Aave founder stated that the DAO vote raised important questions about the leadership between Labs and token holders. He further remarked that the whole process is a productive discussion that is essential for the long-term health of the top DeFi protocol. “While it’s been a bit hectic, debate and disagreement are features of decentralized governance,” he added.

Kulechov Addresses $15 Million Purchase

Kulechov also addressed his $15 million AAVE purchase over the last week, stating that he didn’t use these tokens to vote on the recent proposal and that was never his intention. “This is my life’s work, and I am putting my own capital behind my conviction,” he said.

The Aave founder had purchased these tokens at an average price of $176, even as the AAVE token price declined amid the Labs vs. DAO saga. However, the DeFi token has rebounded by 5% today as the dispute between Labs and the DAO has cooled.

Meanwhile, Kulechov stated that the Aave ecosystem is large enough for many service providers to succeed. He assured that Labs will continue to support and collaborate with teams building on the protocol, and he is confident that, by working together, they will build a stronger and more aligned future. “AAVE will win,” he concluded.

Wintermute founder Evgeny Gaevoy had also commented on the Aave DAO vs. Labs saga, revealing that his firm had voted against the proposal. Following the end of the voting period, he stated that he would like to see a concrete proposal from Kulechov next year on AAVE vs Labs value capture.