Aave Governance Vote Under Fire After Founder’s $10M AAVE Purchase
The Aave governance vote is facing intense scrutiny after founder Stani Kulechov purchased roughly $10 million worth of AAVE tokens, igniting accusations that the move was designed to amplify his voting power during a highly sensitive governance decision.
The controversy unfolded publicly on Wednesday when Robert Mullins — a DeFi strategist and liquidity specialist — alleged on X that the purchase was strategically timed to influence an upcoming proposal. According to Mullins, the transaction appeared aimed at strengthening Kulechov’s ability to vote “directly against the token holders’ best interests.”
“This is a clear example of tokens not being equipped to adequately disincentivize governance attacks,” Mullins wrote, arguing that token-based voting systems remain vulnerable when insiders command large capital.
Community Questions Motives Behind AAVE Accumulation
Concerns quickly spread beyond a single post. Prominent crypto commentator Sisyphus echoed the criticism, questioning the economic logic behind the buy. He claimed that Kulechov may have sold millions of dollars’ worth of AAVE tokens between 2021 and 2025, raising eyebrows over why the founder would suddenly reaccumulate such a large position.
The dispute has reignited a long-running debate within DeFi: can token governance truly protect smaller holders when founders and early insiders retain outsized financial influence?
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Aave Governance Vote Escalation Fuels Community Backlash
The tension intensified after a controversial proposal was pushed to a Snapshot vote, despite unresolved discussions within the community. The proposal centers on whether AAVE token holders should reclaim ownership of the protocol’s brand assets, including domains, social media accounts, and intellectual property, under a DAO-controlled legal structure.
Several stakeholders criticized the decision, arguing that the vote was rushed and escalated prematurely. Former Aave Labs CTO Ernesto Boado stated that the vote moved forward without his consent, claiming the process damaged community trust.
Voting Power Concentration Raises Structural Concerns
Aave DAO Voting Power Dominated by a Few Wallets
Beyond individual accusations, the episode has exposed broader structural issues within the Aave governance vote system. Samuel McCulloch of USD.ai described the situation bluntly, calling the vote “silly” and pointing out that a small group of large holders controls an overwhelming share of voting influence.
Snapshot data from the Aave DAO paints a stark picture:
- The top three voters control more than 58% of total voting power
- The largest wallet, 0xEA0C…6B5A, holds 27.06% (~333,000 AAVE)
- The second-largest voter, aci.eth, controls 18.53% (~228,000 AAVE)
Critics argue that such concentration undermines the very premise of decentralized governance, especially during high-stakes decisions shaping the protocol’s future.
Silence From the Founder as Debate Intensifies
Cointelegraph reached out to Stani Kulechov for comment on the allegations surrounding the AAVE purchase and governance vote, but no response was received at the time of publication.
As the debate continues, the Aave governance vote has become a flashpoint for a larger question facing DeFi: whether token-based governance can remain fair, transparent, and resistant to influence when power is heavily concentrated at the top.
For now, the controversy has left the Aave community divided — and the future of decentralized governance under renewed scrutiny.
