Multicoin Capital: Supports redirecting all Aave product revenue to the DAO, and suggests phased disbursement with guaranteed transparency and optimization of the compensation model, among other things.

Vishal Kankani, Head of Investment at Multicoin Capital, stated in an article on the X platform that as a significant holder of AAVE, Multicoin Capital supports Aave Labs' proposal to redirect 100% of its product revenue to the DAO. Kankani believes this proposal is strategically significant, representing a step towards a clearer token-centric economic model. Regarding the details of the proposal, Multicoin Capital offers the following suggestions for improvement: Since the proposal involves approximately $25 million in stablecoins and 75,000 AAVE tokens (approximately $9 million), totaling about 25% to 30% of the national treasury, a phased allocation model should be adopted, linking funding deployment to specific launch milestones and revenue targets. Furthermore, the definition and verification mechanism for "100% revenue" should be clearly defined, and a transparent product-level reporting system should be established. Regarding incentive mechanisms, a compensation model linked to revenue should be established, rather than solely based on milestones. Additionally, Kankani requested that Aave Labs clarify whether it plans to launch non-branded products or operate other revenue streams outside the Aave brand in the future. Finally, Vishal Kankani pointed out that the issue of token value capture should be discussed in a subsequent proposal, and the current priority is to complete revenue alignment.