Aave controversy continues: Labs concedes not to enforce migration to v3, $42 million funding proposal leads in voting

Aave DAO is currently voting on a significant proposal that would allocate up to $42 million to Aave Labs, including $25 million for ongoing product development and a $17.5 million milestone bonus. As of Friday evening, the support votes are leading with a narrow margin of 52%, and the voting will conclude on Saturday.

The controversy centers around Aave Labs' original plan to compress the development space for v3 and force users to migrate to the yet-to-be-launched v4 version. This move has sparked strong backlash, with the main contractor Bored Ghosts Developing announcing they would not renew their contract and criticizing the proposal as nearly absurd. This week, Aave Labs made concessions, promising not to enforce migration, and v3 will continue to operate.

Critics, represented by Marc Zeller, argue that the requested funds are too high, accounting for 31% of the DAO's reserves, and demand that the proposal be split into multiple independent votes, but Aave Labs insists on pushing for an overall vote. Currently, Aave v3 has deposits exceeding $26.3 billion, accounting for over 97% of the total deposits in the protocol.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.