BlockBeats News, February 25 — Marc Zeller, founder of the Aave ecosystem contribution organization ACI, released an open report revealing that since 2017, Aave Labs has received approximately $86 million in capital support, including ICO, VC funding, and direct DAO grants. The founding team retained 23% of the LEND tokens during the 2017 ICO (later migrated 100:1 to AAVE). The report states that before receiving DAO funds, Labs had a capital base of about $48.7 million, and later received approximately $37.4 million in grants from the DAO. Currently, they are applying for an additional $51 million through the “Aave Will Win” proposal.
The report mainly questions Labs’ past product performance, stating that apart from the core protocol, six independent products launched have all failed or not achieved profitability. Among them, the RWA project Horizon claimed to have surpassed $1 billion in scale, but the actual RWA collateral was about $135 million, heavily concentrated in a single asset. Since its launch in August 2025, Horizon has generated about $216,000 in total revenue for the DAO, while incentives and related costs amounted to approximately $5.25 million, resulting in a return on investment of about 24:1.
The report also notes that early core developers of Aave V1, V2, and V3.0 left Labs between 2021 and 2022. V3.0 is considered the last major protocol version led by Labs, with subsequent versions mainly driven by DAO service providers. In related governance votes, a single large delegated address played a key role in passing the Horizon proposal, sparking community discussions about governance power concentration and fund utilization efficiency.
These controversies come at a time when a new $17.5 million product growth funding proposal is under review, further fueling discussions within the Aave community about fund allocation, performance disclosure, and governance transparency.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Avalanche Gains Momentum as Progmat Launches Dedicated L1 for Japan’s $2B+ RWAs
Japan’s largest security token platform is migrating more than $2 billion in real estate and corporate bonds from Corda to a dedicated L1 on Avalanche.
The initiative brings together some of Japan’s largest firms, from Toyota to Konami and TIS Inc., giving Avalanche a route into Japan’s
CryptoNewsFlash40m ago
Abandoning "HODLing" causes the stock price to rise over 13%! ETHZilla rebrands to "Forum" and shifts focus to RWA tokenization
The American company ETHZilla has officially rebranded as Forum Markets, transforming into a tangible asset tokenization platform and gradually phasing out its role as an Ethereum reserve. The stock price rose over 13% on the news. The company still holds approximately $145 million worth of Ethereum and is actively developing tokenized assets, with expected future yields exceeding 10%.
区块客1h ago
Latam Insights: Brazil Introduces Crypto Tax Evasion Bill, El Salvador Finalizes New Bitcoin Diploma Program
Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this edition, a bill to criminalize crypto-linked foreign currency tax evasion surges in Brazil, El Salvador finalizes its Bitcoin Diploma 2.0 educational program, and Engie mulls
Coinpedia1h ago
Ripple Whitepaper Outlines Crypto Trading Model for Banks
Ripple's new whitepaper addresses fragmented crypto markets and institutional risks, proposing a Digital Prime Broker framework to centralize execution and liquidity. By leveraging the XRP Ledger for credit lines and faster settlements, it aims to enhance operational efficiency and transparency for banks and hedge funds.
CryptoFrontNews1h ago
Aave "100% of product revenue contributed to the DAO treasury" temperature check has passed
Aave founder Stani.eth announced that the "Aave Will Win" proposal temperature check has passed, promoting Aave Labs to develop towards a core token model and planning to direct all product revenue to the AAVE token. The proposal will be optimized based on community feedback, entering the ARFC stage, and is dedicated to achieving Aave V4 strategic goals.
GateNews2h ago
Coming as early as Q2! Japan's SBI will launch the Japanese Yen stablecoin "JPYSC".
SBI Holdings and Startale Group jointly launch Japan's first Japanese Yen stablecoin "JPYSC," expected to be listed in the second quarter of this year, pending regulatory approval. This stablecoin is backed by a trust bank and targets institutional and cross-border applications, aiming to enhance the position of the Japanese Yen in digital finance while complying with Japanese regulatory standards.
区块客2h ago
