Aave founder Stani Kulechov accused of ‘governance attack’ after $10M AAVE buy before DAO vote
Aave founder Stani Kulechov faces accusations of a “governance attack” after purchasing about $10 million in AAVE tokens shortly before a contested Aave DAO vote to transfer key brand assets (domains, social accounts, GitHub, naming rights) into DAO control. Critics on X (Twitter), including DeFi strategist Robert Mullins and user Sisyphus, say the timing suggests the buy was intended to amplify voting power rather than signal long-term alignment with token holders. Observers cite Snapshot voting data showing concentration of power — the top three voters control >58% of voting weight and the largest wallet holds >27% — and point to on-chain history of Kulechov’s token sales between 2021–2025 to question motives and conflicts of interest. Aave Labs submitted the proposal; its co-author Ernesto Boado said the version was pushed to Snapshot without his consent, fuelling concerns about process integrity. This episode follows the SEC closing a probe without recommending enforcement and Aave Labs gaining MiCA authorisation in Europe. Traders should monitor AAVE liquidity, large-wallet movements, and the vote outcome: concentrated voting and perceived founder influence can raise short-term volatility, affect token sentiment and fee flows, and may prompt risk-off behaviour by smaller holders. Key SEO keywords: Aave, AAVE token, DAO governance, governance attack, founder buy.
Bearish
The news is likely to exert a bearish pressure on AAVE in the short term. A founder buy immediately before a contentious governance vote, coupled with on-chain evidence of voting concentration (top three >58%, largest wallet >27%) and past token sales, creates perceived conflict-of-interest and governance risk. Traders often react to such incidents with increased selling or reduced willingness to accumulate until governance clarity returns, lowering bid-side liquidity and increasing volatility. The disputed escalation of the proposal to Snapshot and public criticism from figures like Robert Mullins and Ernesto Boado amplify reputational risk and may harm token sentiment and demand. In the medium term the impact could remain negative or neutral depending on vote outcome and follow-up transparency: if the DAO vote passes cleanly and governance mechanisms or safeguards are strengthened (e.g., clearer proposal procedures, timelocks, voting caps), confidence could slowly recover. Conversely, if on-chain movers or the founder rebalance holdings post-vote or enforcement/regulatory scrutiny resurfaces, downward pressure could persist. Key trader actions to watch: large-wallet transfers, changes in AAVE liquidity on DEXs/CEXs, vote tallies, and any announcements from Aave Labs or Kulechov — all of which will influence short-term price moves and the recovery timeline.