The new offering presented within the Aave (AAVE) ecosystem has generated both optimism and caution within the community.
While many community members are calling for split voting and the implementation of stronger transparency and independent oversight mechanisms, significant progress has been noted in the DAO governance process.
Following pressure from the community, Aave Labs committed to returning 100% of the revenue from branded products back to the DAO treasury. It was also announced that version V4 is positioned as a unified technical foundation and that an independent trust structure has been established. These developments were interpreted as a positive signal, particularly to token holders, indicating that the governance mechanism is functioning effectively.
Marc Zeller, founder of the Aave Chan Initiative (ACI), argued that the new proposal may carry some risks during implementation. According to Zeller, the fact that revenue cuts could be determined unilaterally by Aave Labs without independent oversight poses a potential problem.
It was also criticized that a single request of $50.7 million (31.5% of treasury assets) was linked to the approval of V4 and the freezing of V3 developments. Furthermore, it was stated that the transfer of 75,000 AAVE tokens could lead to a dilution of approximately 13.6% in governance rights.
Zeller proposed splitting the voting process, establishing a truly independent trust, making wallet transparency mandatory, and implementing third-party auditing mechanisms. He stated that these steps would ensure the commitments made are viable and fair to all token holders.
DeFi researcher Ignas, however, recalled that Aave Labs had been criticized in the past due to the risk of DAO devaluation, and said that the recent concessions should be welcomed by AAVE holders.
However, Ignas stated that clarity was needed regarding who would effectively control the foundation that would manage the Aave brand. He also expressed the expectation of a clear statement that the 75,000 AAVE tokens allocated to the foundation would not be used in voting.
The transition from V3 to V4 is planned to take between 8 and 12 months, and users will want to see the completion of comprehensive stress tests before allocating funds to the new version. Ignas stated that he is cautiously optimistic about the overall picture.
Austin Barack, founder of Relayer Capital, argued that the uncertainty surrounding the value sharing of the AAVE token has largely disappeared. According to Barack, a renewed upward movement in price could be seen as investors return to a rational approach.
*This is not investment advice.
