Wintermute Founder Rejects Aave (AAVE) Token Alignment Plan as Governance Rift Deepens
Wintermute founder and CEO Evgeny Gaevoy stated the buying and selling agency will vote towards Aave’s token alignment proposal, including to the rising opposition throughout the Aave DAO as the vote nears its conclusion.
In an in depth thread on X, Gaevoy stated Wintermute disagrees with the proposal “as it stands,” whereas arguing that it asks tokenholders to decide to a serious plan of action with out enough readability on construction, governance, or outcomes. He disclosed that Wintermute has been an investor in AAVE since 2022 and participates actively in governance, however neither he nor the agency has any fairness publicity to Aave Labs.
Wintermute Slams Proposal
According to the exec, the primary situation is worth accrual and a widening expectation mismatch between Aave Labs and a good portion of AAVE tokenholders over who ought to seize worth and the way key exterior capabilities, notably enterprise growth, ought to function. He stated these unresolved tensions make the present proposal untimely and doubtlessly dangerous.
Gaevoy additionally criticized the tone and politics surrounding the vote. While acknowledging that Aave founder Stani Kulechov’s communications “have been removed from excellent,” he stated the backlash towards Aave Labs has gone too far and has negatively impacted the token’s worth.
Both sides, he added, are accusing one another of “hostile takeovers,” a declare he stated has some validity relying on perspective. Gaevoy additionally stated that reversing or softening earlier choices, such as fee-related adjustments, may have helped reset the state of affairs. But as an alternative, the dispute escalated.
He framed the vote as a “temperature test” somewhat than a decisive endpoint, saying the true precedence must be de-escalation and critical work on long-term options for token worth seize. While urging Aave Labs to have interaction constructively after the vote, Gaevoy wrote,
“Whether it succeeds or fails doesn’t actually matter.”
The feedback come as the token alignment proposal seems unlikely to go. Snapshot information exhibits {that a} majority of AAVE DAO voters are opposed or abstaining, with roughly 55% voting towards the proposal, about 41% abstaining, and three.5% voting in favor. Voting is about for December 26.
Critics have argued that Aave Labs rushed the governance course of and pushed the proposal to a vote whereas discussions had been nonetheless ongoing. The broader dispute traces again to a battle over swap price diversion, value tens of millions of {dollars}, that may have benefited the corporate somewhat than the DAO treasury.
The alignment proposal itself focuses on tokenholders searching for management over Aave’s model property, together with domains, social media accounts, and naming rights. The finish aim is to make sure that any entity holding these property stays accountable to the DAO.
2026 Roadmap
Prior to the governance tensions, the platform laid out an formidable roadmap for 2026 that goals to scale the protocol properly past its present footprint. Kulechov unveiled the plan, which facilities on three pillars: Aave V4, Horizon, and the Aave App. Aave V4 is anticipated to revamp the lending protocol to scale back liquidity fragmentation and assist a lot bigger capital flows.
Horizon focuses on institutional customers, permitting corporations to borrow towards tokenized real-world property such as US Treasuries whereas assembly compliance wants. Meanwhile, the Aave App is positioned as a consumer-facing product aimed toward onboarding tens of millions of recent customers as Aave targets broader adoption.
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