Crypto29 March, 20261 min read
Aave Governance War Intensifies as Founder Buys $15M in Tokens
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Founder purchased 84,000 AAVE amid governance vote. Allegations of vote manipulation surfaced amid the token purchase.
Governance Crisis
Aave plunged into governance chaos as founder Stani Kulechov purchased over $15 million of AAVE tokens. The dispute was triggered when an anonymous collaborator alerted the community about diverted fees. Kulechov framed the turmoil not as a breakdown but a natural evolution.
Brand and Fee Control
The core controversy centered on who controls Aave's brand assets and revenue streams. BGD Labs argued these should belong to the DAO. The community vote was rejected by 55%, with 41% abstaining.
Founder Token Purchase
Kulechov's multi-million dollar purchase further inflamed tensions. He denied it was intended to influence governance. AAVE fell nearly 20% that week.
“The founder of Aave bought 84K AAVE, will prices hit the bottom amid the governance civil war?”
DAO vs Labs
The episode exposed structural tensions between the DAO and Aave Labs. Kulechov acknowledged economic alignment had not been clarified. The debate centers on decentralization versus a coordinated model.