Aave Founder Under Scrutiny For $10m Token Purchase Amid Governance...
Aave founder Stani Kulechov is facing criticism after a $10 million AAVE purchase ahead of a key DAO vote, as critics raise concerns over voting power concentration.
Aave founder Stani Kulechov is facing scrutiny over his recent $10 million purchase of AAVE tokens, with some in the crypto community claiming it was used to boost his voting power in a key governance proposal.
In a Wednesday post on X, Robert Mullins, a decentralized finance (DeFi) strategist and liquidity specialist, argued that the purchase was meant to increase Kulechov’s “voting power in anticipation to vote for a proposal directly against the token holders best interests.”
He added: “This is a clear example of tokens not being equipped to adequately disincentivize governance attacks.”
Prominent crypto user Sisyphus echoed those concerns, claiming that Kulechov might have sold “millions of dollars” worth of Aave (AAVE) tokens between 2021 and 2025, questioning the economic rationale behind the move.
The controversy comes as Aave token holders debate how governance power is exercised within one of DeFi’s largest protocols, with critics arguing that large token purchases can materially influence voting outcomes on high-stakes proposals. The dispute has reignited concerns about whether token-based governance adequately protects minority holders when founders or early insiders retain significant economic leverage.
As Cointelegraph reported, Aave’s governance vote has triggered a backlash after a proposal on reclaiming control of the protocol’s brand assets was pushed to a snapshot vote despite ongoing debate.
The proposal asks whether AAVE token holders should regain ownership of domains, social accounts and intellectual property through a DAO-controlled legal structure.
Several stakeholders disputed that decision, arguing that the proposal was escalated prematurely.
Former Aave Labs CTO Ernesto Boado, listed as the proposal’s author, said the vote escalated without his consent and broke community trust.
Source: CoinTelegraph
