Aave Founder Under Scrutiny for $10M Token Purchase Amid Governance Drama
Aave founder Stani Kulechov’s $10 million purchase of AAVE tokens has sparked controversy, with critics alleging the move was intended to boost his influence over a key governance proposal potentially counter to token holders’ interests. DeFi strategists argued that the purchase highlights vulnerabilities in token-based governance, where large holders can sway crucial votes. This incident coincided with backlash over a proposal to give AAVE token holders control of the protocol’s brand assets, which advanced to a snapshot vote amid ongoing debate and alleged violations of community process. Data shows voting power is heavily concentrated, with just three addresses holding over 58% of the vote, raising concerns about the influence of founders and large holders in Aave’s decentralized governance system and the protection of minority stakeholders.
