
Loïc Albertin 🦇🔊 Ξ
448 posts

Loïc Albertin 🦇🔊 Ξ
@loicalbertin
Developer, BlockChain & DeFi enthusiast, father of 2, europhile 🇪🇺, french 🇫🇷, Alpian ⛰️. Views are my own and can't be related to any of my employers.



As the Snapshot for the $51M "Aave Will Win" ask drops tomorrow, take a look at our Audit of Aave Labs' performance and their ~$86M in funding they've received to date. This deserves the community's full attention before any major decisions. Read the full post here: governance.aave.com/t/aave-labs-86…



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

Almost every DAO i've seen has failed. People say DAOs can never work, that the structure is flawed, and it's hard to make the case they're wrong. And yet there's Aave. Almost 70% market dominance and growing. Their DAO actually seems to work. Explain that.

Well, if Rabby adds support, I guess we should consider going there too seriously. What do you think?

Something big is coming 👀



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