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Revenue Dispute: Delegates claim CowSwap integration redirected swap fees away from the Aave DAO. Governance Backlash: Tokenholders warn alleged revenue losses could exceed $10 million annually. Labs Defense: Aave Labs cites long-term innovation and DAO value creation to counter criticism. Tension has risen inside the Aave community over control of protocol revenue. Delegates and service providers now clash over ownership rights. A recent integration changed how swap fees flow. That shift triggered sharp reactions from tokenholders. Many now question whether DAO interests remain protected. Accusations of lost revenue dominate governance discussions. Estimates suggest losses could reach eight figures annually. For years, Aave's swap feature funneled revenue to the DAO through Paraswap's referral program. No extra user costs, just passive income for tokenholders.December 2025: Aave Labs announces a CoWSwap partnership for "an improved swap experience."But where's the money going now?…— fredcat (@fredcat5150) December 11, 2025 Who Controls Aave’s Revenue Streams Aave DAO historically paid contractors directly for development work. That funding covered interfaces, branding, and product features. Governance participants argue this payment structure grants full ownership to the DAO. Fees generated through those features should flow back to the treasury. This understanding remained widely accepted for years. The CowSwap integration altered that arrangement. Swap fees no longer reach the DAO treasury. Delegates quickly noticed the change and raised objections. Previous integrations, including ParaSwap, shared revenue with the DAO. The new setup redirected fees elsewhere. Delegates described the outcome as sidelining tokenholders. One delegate estimated annual revenue losses exceeding $10 million. That figure sparked heated debate across governance forums. Earlier this year, Aave Labs proposed a tokenization product called Horizon. The proposal included a separate token. The DAO rejected the plan after intense debate. That decision added context to current tensions. Some delegates view recent revenue changes as part of a broader pattern. Marc Zeller, founder of the Aave-Chan Initiative, voiced strong concerns. Zeller described the revenue shift as privatization. Aave Labs Responds to Growing Criticism Aave Labs pushed back against accusations. Founder Stani Kulechov emphasized long-term contributions. According to Kulechov, Aave Labs has built core protocol innovations for over eight years. Those efforts include Aave V4 development and the GHO stablecoin. Revenue from these primitives continues flowing to the DAO. The DAO also manages a token buyback program. That mechanism aims to return value to tokenholders. Supporters argue this proves alignment between Labs and the DAO. They stress that innovation requires flexibility and resources. From this view, service providers deserve room to operate. On-chain data adds another layer. Blockworks Research reported over $15 billion in net deposit inflows during Q3 2025. Network usage remains strong despite governance friction. Market reaction also stayed muted. AAVE traded near $200 for the past week. The debate now centers on trust and structure. Delegates seek clarity on revenue rights. Service providers seek autonomy for continued innovation. Both sides claim alignment with long-term protocol health. Governance discussions will likely intensify. Aave stands at a crossroads. Decisions made now could shape future DAO dynamics. Clear frameworks may help prevent similar disputes. Without resolution, tensions could deepen. Tags: Aave (AAVE) Altcoin Crypto market

Quick Breakdown SEC closes Aave investigation without enforcement action, removing a key regulatory overhang for the protocol. Aave’s 2026 roadmap prioritizes Aave V4, GHO stablecoin upgrades, and a shift away from “growth at all costs” incentives. Governance plans include refining AAVE token economics and strengthening risk controls for lending markets and GHO. Aave unveils 2026 roadmap after SEC probe ends Aave founder and CEO Stani Kulechov has laid out a 2026 roadmap for the decentralized lending protocol, just days after confirming that the US Securities and Exchange Commission had ended its four-year investigation into the project. The SEC’s closure of the probe removes a significant legal uncertainty that had hung over one of DeFi’s largest money markets since 2021, giving the Aave community a clearer runway for product expansion, governance, and institutional engagement.​ In a detailed post on X, Kulechov described 2025 as Aave’s “most successful year” so far, but argued that the protocol remains at “day zero” relative to its long-term ambition to become a backbone of global on-chain finance. The 2026 plan is organized around three main pillars: Aave v4, the Horizon RWA platform, and the Aave App, each designed to grow total value locked (TVL), diversify collateral, and make Aave’s infrastructure accessible to both institutions and everyday users.​ https://t.co/s1ozjoYDyX — Stani.eth (@StaniKulechov) December 16, 2025 Aave v4 upgrade aims to become “backbone of all finance” The first pillar, Aave v4, is a major technical and product overhaul intended to improve the lending and borrowing markets, risk parameters, and user experience, while introducing a new Hub-and-Spoke architecture. Under this model, a unified cross-chain “hub” liquidity pool aggregates assets at the protocol core, while “spoke” markets are tailored environments that tap the hub’s liquidity to serve specific assets, risk profiles, or user segments.​ Kulechov said this structure is designed to allow Aave to eventually handle “trillions of dollars in assets,” positioning it as a go-to liquidity venue for institutions, fintechs, and enterprises that need deep, programmable capital pools. The v4 upgrade is also expected to support new markets, asset types, and cross-chain integrations, with the DAO and partners coordinating a phased rollout to scale TVL progressively through 2026.​ With legal certainty restored, Aave’s ambitious 2026 roadmap, highlighted by V4, is further bolstered by the MiCA authorization to launch regulated stablecoin ramps across Europe, setting a compliant path for mainstream DeFi growth. If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community. Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

➣ Yield Rails (Savings + Income Layer) These are the assets generating baseline yield, backed by real-world collateral or automated yield structures. - $sUSDS (@SkyEcosystem) - $USDf (@falconfinance) - $USDY (@OndoFinance) - $sUSDe (@ethena_labs) - $GHO (@ave): - $syrupUSDC & $syrupUSDT (@maplefinance) - $BFUSD (@binance) - $USDai (@USDai_Official) - $xDAI (@gnosis_) - $ONYC (@onrefinance) - $USDN (@noble_xyz) ➣ Settlement Rails (Mobility + Liquidity Layer) These rails allow yield-bearing dollars to move, settle, and integrate across chains. - CCTP (Circle) - $OUSG / fTokens (Flux Finance) - @OpenEden_X (OpenEden) Treasury Vaults - @maplefinance (Maple) Cash Management - @AngleProtocol (Angle Protocol) $EURA - @centrifuge (Centrifuge) DROP/TIN ➣ Payment Surfaces Where yield-bearing stables become usable capital for real transactions. - @Cypher_HQ_ (Cypher) - @holyheld (HolyHeld) - @telcoin $eUSD (Telcoin) - @beam_cash (Beam) / @Bitnob_official (Bitnob) / @KimaNetwork (Kima)

Robinhood has 11 business lines doing $100M+ ARR each. Aave’s core lending business did ~$140M over the last 12 months. Is $GHO the next Aave product to clear $100M+?