I carefully reviewed the ARFC version of the Aave Will Win proposal; it's very long and detailed, and I feel it has a high probability of passing. Here are a few key points from my perspective: **Adjustments have been made to previously controversial content, such as the 100% revenue allocation to the DAO. The definition of this revenue has been further clarified, and it will be audited by a third party every quarter.** Excellent. **V3 will continue to operate, changing the previous view that V4 would completely replace V3.** Excellent. **The requested budget is still quite large, but the AAVE token release period has been increased from 2 years to 4 years.** The budget details, roadmap, KPIs, etc., have been made public, which is quite detailed and clearly explains what will be done and how much will be spent. Acceptable.** **Aave Labs will absorb some functions from BGD Labs and ACI and promises to focus solely on Aave development and not develop unrelated businesses.** A very good attitude. **Expanding revenue through V4, which I think is the most crucial point. The proposal expresses that the V4 model can achieve many businesses that V3 could not reach, including the reinvestment module mentioned a few days ago, all of which are optimizations in product structure to increase revenue potential.** Aave Labs' article is very detailed, and it answered most of my questions. I think the governance issue is resolved. Aave didn't solve the problems inherent in the DAO structure, but it mitigated the damage at the protocol level. The future development is simple: V4. The success of V4 will allow the market to forget the unpleasant experiences. Otherwise, this sector may face a reshuffle.