Internal Aave questions Labs' past performance: received $86 million in funding, held 23% of tokens, and all six products failed or incurred losses BlockBeats News: On February 25th, Marc Zeller, founder of Aave Ecological Contribution Organization ACI, released a public report revealing that Aave Labs has received approximately $86 million in capital support since 2017, including ICO, VC financing, and DAO direct grants. At the same time, the founding team retained 23% of LEND tokens during the 2017 ICO (later migrated to AAVE at a ratio of 100:1). The report states that Labs already had a capital base of approximately $48.7 million before receiving DAO funding, and subsequently received approximately $37.4 million in grants from DAO. Currently, they are applying for an additional $51 million in funding through the "Aave Will Win" proposal. The report focuses on questioning Labs' past product performance, stating that all six independent products it has launched, except for the core protocol, have failed or failed to achieve profitability. Although the RWA project Horizon once claimed to exceed $1 billion in scale, the actual RWA collateral size is about $135 million, and it is highly concentrated in a single asset. Since its launch in August 2025, Horizon has generated a cumulative revenue of approximately $216000 for DAO, but has incentivized and incurred related costs of approximately $5.25 million, resulting in an input-output ratio of approximately 24:1. The report also pointed out that early core development members of Aave V1, V2, and V3.0 have left Labs between 2021 and 2022. V3.0 is considered the last major protocol version led by Labs, and subsequent versions are mainly promoted by DAO service providers. In the relevant governance voting, a single large entrusted address plays a crucial role in the approval of Horizon proposals, triggering discussions in the community about the concentration of governance power and the efficiency of fund utilization. The above controversy comes at a time when a new round of $17.5 million product growth funding proposal is under review, and the Aave community is further heating up discussions around fund allocation, performance disclosure, and governance transparency.