Stani Kulechov retains power after Aave governance proposal rejected
Aave founder Stani Kulechov has retained control over the organization, as only three AAVE token holders control more than half of the voting power in Aave DAO.
The Aave DAO vote to transfer intellectual property rights to the brand and control over online accounts, including domains and social media, to the decentralized organization failed, as most voting participants opposed the proposal. Only 3.5% of votes supported the initiative, 55% voted against it, and 41% abstained.
How accurately this outcome reflects the real balance of power in the ecosystem is hard to judge, but according to Aave DAO data, the three largest holders control more than 58% of total voting power. The leading wallet controls 27.06% of votes, while the second-largest holder, aci.eth, controls 18.53%.
Those dissatisfied with the results accused Aave Labs founder Stani Kulechov of purchasing $15 million worth of AAVE tokens shortly before the vote to strengthen his influence. However, Kulechov denied using these tokens in the voting process.
“These tokens were not used for voting on the recent proposal, and that was never my intention,” he stated, adding that Aave is his life’s work and he invests his own capital to support his convictions.
Everything under control
The vote’s outcome in favor of the Aave Labs founder and his team helps explain why Kulechov was pushing to transfer control over DAO accounts, even though, had it passed, it might have harmed the ecosystem.
Now Kulechov intends to communicate shared goals to DAO participants more clearly, reminding them that in 2025 the DAO earned $140 million, exceeding the revenue of the previous three years combined.
“I am determined to make the economic alignment between Aave Labs and $AAVE token holders clearer… Going forward, we will do a better job explaining how products built by Aave Labs benefit the DAO and AAVE holders,” the Aave founder assured the community.
He also noted that the vote raised important questions about the relationship between Aave Labs and AAVE token holders, calling it “a productive discussion necessary for the long-term well-being of Aave.”
As we wrote, Aave faces governance clash after SEC investigation ends
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