Aave founder proposes expansion into RWAs and revenue-sharing after failed governance vote
Aave founder and CEO Stani Kulechov responded to a contentious governance vote that rejected transferring Aave’s brand assets and IP to the DAO by outlining a broader strategic plan. Kulechov urged the community to move beyond core DeFi lending and pursue real-world assets (RWAs), institutional lending and consumer-facing products. He said Aave Labs will distribute non-protocol revenue to AAVE tokenholders and will refile a governance proposal addressing intellectual property and brand rights after community pushback. The dispute originally concerned control of fees from token swaps routed through services such as CoW Swap and whether those revenues should accrue to the Aave DAO or remain with Aave Labs. The vote followed scrutiny over Kulechov’s personal purchase of roughly $15 million in AAVE — which he called a conviction buy, not an attempt to sway governance. Aave remains one of the largest DeFi protocols, with TVL previously above $45 billion; Kulechov highlighted RWAs as a potential $500 trillion opportunity. Key entities: Aave, Aave Labs, Aave DAO, CoW Swap; key token: AAVE.
Neutral
The news is neutral for market direction. Positives: the founder’s plan to expand into RWAs, institutional lending and consumer products and the pledge to distribute non-protocol revenue to AAVE holders signal potential long-term value capture and product diversification, which can support upside for AAVE over time. A clear strategic roadmap can also improve investor confidence. Negatives/uncertainties: the immediate governance friction — a rejected vote and community pushback — highlights internal conflict and governance risk. Disputes over revenue rights and concerns about founder token purchases can dampen sentiment and increase short-term volatility. Historical parallels: governance fights (e.g., Compound, MakerDAO debates) often cause temporary price swings and heightened on-chain activity but only produce sustained bullish or bearish trends if resolution materially changes token economics or protocol fundamentals. For traders: expect short-term volatility around new proposals, token buy activity, and governance milestones. Medium-to-long-term outlook depends on execution of RWA strategies and whether revenue-sharing proposals shift token utility. Monitor proposal timelines, on-chain governance votes, TVL changes, and any announcements on revenue distribution mechanics for signals to trade.