ELI5 on the @aave situation :
- AAVE Labs created Aave Lend and the DAO
- DAO owns the Aave smart contracts, captures protocol revenue in treasury and governs the protocol
- LABS owns everything else
frontend, infra, code, IP, brand, mobile app etc
- LABS then creates Horizon to capture more value from the Aave brand
even tho the brand value mostly comes from the protocol run by the DAO
- LABS uses its control over the frontend to switch Paraswap to Cowswap, around 10M per year in fees now redirected to an address controlled by LABS
- DAO gets pissed and proposes to reclaim everything, brand name, IP, domains, frontend, mobile app etc, to get max aligned with $AAVE
- Vote starts tomorrow
outcome will probably set an important precedent for DAO vs LABS relationships
TLDR :
This is just humans being humans lol
Huge product got built, value exploded, LABS getting frustrated, incentives no longer aligned between DAO and LABS, and LABS trying to extract as much as they can
Tbh that’s a very common issue but it’s the first time a DAO as big as AAVE openly conflicts with LABS and tries to take everything back
This will be very interesting to watch for future DAOs
- AAVE Labs created Aave Lend and the DAO
- DAO owns the Aave smart contracts, captures protocol revenue in treasury and governs the protocol
- LABS owns everything else
frontend, infra, code, IP, brand, mobile app etc
- LABS then creates Horizon to capture more value from the Aave brand
even tho the brand value mostly comes from the protocol run by the DAO
- LABS uses its control over the frontend to switch Paraswap to Cowswap, around 10M per year in fees now redirected to an address controlled by LABS
- DAO gets pissed and proposes to reclaim everything, brand name, IP, domains, frontend, mobile app etc, to get max aligned with $AAVE
- Vote starts tomorrow
outcome will probably set an important precedent for DAO vs LABS relationships
TLDR :
This is just humans being humans lol
Huge product got built, value exploded, LABS getting frustrated, incentives no longer aligned between DAO and LABS, and LABS trying to extract as much as they can
Tbh that’s a very common issue but it’s the first time a DAO as big as AAVE openly conflicts with LABS and tries to take everything back
This will be very interesting to watch for future DAOs
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