There seems to be very little confidence inside the ecosystem. And, one wonders what’s next for one of DeFi’s biggest names.
The recent governance vote to bring the protocol’s brand and intellectual property under DAO control was decisively rejected. Over 55% voted against and just 3.5% in favor of the same. A large percentage abstained though. Hence, it wasn’t exactly outright opposition.
At its core, the proposal sought to shift control of Aave’s domains, social handles, and naming rights away from entities like Aave Labs and BGD Labs and into the hands of token holders. It was understood that this would have been a step towards deeper decentralization and long-term alignment.
Alas, for many, the timing, structure, and implications were concerning.
