Just my 0.02 as I'm not particularly pleased where things stand between labs and $aave after this vote: I build valuation models to figure out whether to buy $aave. Prior to the past year, I probably would have assumed "aave revenue will go to token holders after opex/capex is taken out". Now I have to delineate between "Labs Revenue" and "DAO Revenue". Maybe I'd assume on-chain revenue goes to DAO, off-chain goes to labs. Then I see Horizons potentially launching a separate token before agreeing to a 50% rev share and no token launch. I also see revenue being routed to labs controlled wallets from integration partners. Now I can somewhat confidently underwrite "v3 on-chain revenue flows to Aave DAO, nothing else is a certainty". Given Aave Labs is one of two service providers pushing on the growth and strategy side, I don't really see how Aave DAO is particularly in control of their own destiny vs. along for the ride with Labs. I'm glad the team is alluding to sharing clear value flows between labs and dao in the future, but I don't think I can get comfortable with what they say being a certainty vs. something said today until the negotiating leverage is far enough in their hands to start asking for larger revenue shares on future products.

wishful_cynic
@EvgenyGaevoy
Some thoughts on aave situation🧵
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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