Aave Ecological Report Doubts Labs' Past Performance and Efficiency of Fund Utilization

On February 25th, Marc Zeller, founder of Aave Ecological Contribution Organization ACI, released a report revealing that Aave Labs has received approximately $86 million in funding support since 2017, including ICO, VC financing, and DAO grants. The founding team retained 23% of LEND tokens during the 2017 ICO (later migrated to AAVE). The report questions whether all six products launched by Labs, except for the core protocol, have failed or not been profitable. Among them, the RWA project Horizon has an actual collateral size of about $135 million, accumulated revenue of about $216000, cost expenditures of about $5.25 million, and an input-output ratio of about 24:1. In addition, the report points out that the subsequent versions of Aave V3.0 are mainly promoted by DAO service providers, and a single large delegation address plays a key role in the approval of proposals in governance voting, triggering discussions in the community about the concentration of governance power and the efficiency of fund utilization.