Aave Community Faces Tensions Over $51 Million Proposal

The Aave community is experiencing heightened tensions as a $51 million proposal, described as the largest funding request in Aave's history, approaches a vote. According to Odaily, the Aave Chan Initiative (ACI) and its founder, Marc Zeller, released an 'audit' report on Aave Labs, sparking widespread discussion. ACI suggested on social media that before the proposal, titled '$51M Aave Will Win,' enters the Snapshot voting phase, the community should review Aave Labs' past performance and its use of approximately $86 million in funds. Zeller stated that ACI has already published its own transparency report and evaluated Aave Labs using a framework of 'what was delivered, at what cost, and what were the returns.' The report highlighted that Aave Labs' total capitalization is around $86 million, including $16.2 million from a 2017 ICO, $32.5 million from VC funding, $31.93 million from direct DAO grants, and approximately $5.5 million in 'unauthorized' swap fees. Zeller also mentioned that the founding team initially held 23% of the LEND supply, which later migrated to AAVE, but the current AAVE holdings have not been publicly disclosed. The report questions why Aave Labs has not released an 'accountability report' that includes cost-benefit analysis, financial disclosures, and wallet transparency, suggesting that despite receiving substantial funding over time, information disclosure remains insufficient.