Aave Labs has thrown down a bold proposal called “Aave Will Win,” asking the DAO to approve a plan that would send 100% of revenue from Aave-branded products back to the community treasury. The framework is tied to the long awaited V4 upgrade and would formalize a structure where Labs builds products, but all related revenue flows to token holders.

Founder Stani Kulechov described it as a shift to a “token-centric model,” positioning Aave to compete as institutions move onchain. The proposal also suggests creating a foundation to hold trademarks and intellectual property, aiming to resolve months of tension over who controls the brand.

This story is an excerpt from the Unchained Daily newsletter.

But not everyone is convinced. Marc Zeller of the Aave Chan Initiative pushed back hard, arguing the move follows a familiar pattern. “We’ve seen this playbook before,” he wrote, claiming Labs is presenting a $50 million funding request as a benevolent fix after previously diverting revenue. He warned that governance risks becoming “theater” if one party can consistently sway votes with its token holdings.

What began as a revenue proposal has quickly become a broader debate about decentralization, control, and who truly steers one of DeFi’s largest protocols.