Chainfeeds Summary:
Who exactly is the owner of Aave?
Article source:
https://x.com/cmdefi/status/2000560114126967105
Article Author:
CM
Opinion:
CM: The core controversy is whether Aave is a Protocol (managed by a DAO) or a Project (built by Labs), and the impact on revenue rights. The Aave DAO is easy to understand; it's a unique governance organization in the crypto world, composed of AAVE token holders who vote and exercise power within the DAO. Almost 90% of crypto projects use this structure, hence the definition of "governance token." Its greatest power is voting on project proposals, deciding whether to implement updates and developments, and determining the future direction of the project. Aave Labs, on the other hand, is a development team responsible for building, updating, and maintaining the protocol (such as the front-end interface and mobile app). They typically also maintain the Aave brand and IP, so on social media and in the market, Aave Labs is usually assumed to be Aave. Its founders are also quite influential on social media. If a conflict of interest arises, these two roles can be forcibly separated, as they are essentially two independent entities. Let's examine their core resources and powers: Aave DAO controls the underlying core, such as smart contracts and the treasury. While Labs can propose development plans, they require a DAO vote for implementation. Therefore, it's a protocol; any product can operate on top of it. Theoretically, multiple front-end products can be built on a single protocol—Aave, Bave, Cave, etc. Aave Labs controls the front-end, branding, product marketing, and partners. Therefore, it directly interacts with users, representing a high-quality product. This presents a somewhat awkward governance and power dilemma. From the perspective of AAVE holders, they usually side with the DAO because revenue going into the treasury benefits token holders. While Labs has annual expenses, these can be accounted for through the DAO. If a separate channel for profit can be opened, it seems that community power is being gradually eroded. From Aave Labs' perspective, although the core control theoretically lies with the DAO and the plan must be approved by vote before it can be implemented, from the first version of Aave to the present, Labs has played a role in overall coordination and has made a huge contribution to the growth of the project.
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