Aave founder and CEO Stani Kulechov outlined a broader strategic vision for the protocol following a controversial governance vote that rejected a proposal to transfer control of Aave’s brand assets and intellectual property to its decentralized autonomous organization (DAO).
The failed vote sparked renewed debate within the Aave community over the long-term direction and governance structure of the protocol, an issue addressed directly by Kulechov.
In a job posted on the Aave governance forum on Friday, Kulechov argued that the protocol must evolve beyond its core business of decentralized finance (DeFi) lending to seize opportunities in real world assets (RWA), institutional loans and consumer financial products.
He described the community as being “at a crossroads,” noting that DeFi’s future growth trajectory remains uncertain without broader market expansion.
Significantly, Kulechov said that Aave Labs plans to distribute off-protocol revenue to Aave (GHOST) token holders, a move that could expand how the token captures value beyond participation in governance. He added that Aave Labs plans to introduce a new governance proposal to address intellectual property and brand rights, following community resistance to previous initiative.
Kulechov’s message appears to be aimed at refocusing the community away from short-term governance conflicts and toward a more coherent long-term strategy. He particularly highlighted RWA, describing the sector as a potential $500 trillion opportunity based on the estimated value of global financial assets.
Aave is one of the largest DeFi protocols, with its total value locked exceeding $45 billion as of October, according to the industry. data.
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The controversy at the heart of Aave governance
As Cointelegraph reportedAave’s recent governance conflict centers on who should control and benefit from the fees generated by cryptocurrency exchanges within the ecosystem.
Some of these swaps are routed through CoW Swap, a decentralized trading service that allows users to swap tokens directly from Aave. Disagreement arose over whether revenue from these swaps should belong to the Aave DAO, which represents token holders, or remain under the control of Aave Labs developers.
Some members of the Aave community have also pointed to Kulechov’s recent purchase of approximately $15 million in AAVE tokens as an attempt to influence the governance vote, a claim he firmly deniedclaiming that the purchase reflected his personal “belief” in the protocol rather than an effort to influence the outcome.
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