Wintermute founder: Will vote against Aave governance proposal ARFC
TL;DR
Wintermute founder Evgeny Gaevoy announces opposition to Aave's governance proposal due to lack of details on entity governance, profit motives, and token value capture concerns, highlighting a mismatch with token holders' expectations.
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According to Foresight News , Wintermute founder and CEO Evgeny Gaevoy tweeted that Wintermute will vote against the current Aave governance proposal. The reason given is the lack of specific details in the proposal; it's unclear how the entity owning the front-end and brand will govern, whether it's for-profit, and how it will operate. Token value capture is a core issue for Aave, and there's a significant mismatch between the expectations of Aave Labs and its large number of token holders. Furthermore, he pointed out the politicization surrounding the vote and the excessive criticism of Aave Labs, while also noting that Aave founder Stani's communication was imperfect. Wintermute has invested in Aave since 2022 and participates in its governance. They hope Aave Labs will seriously address the token value capture issue, which would provide a model for other tokens.