TechFlow News, February 25: According to The Block, Marc Zeller, founder of the Aave Chan Initiative, published an “audit” report on Aave Labs just before the DAO’s vote on Aave Labs’ $51 million funding proposal—sparking controversy. The report states that Aave Labs has raised approximately $86 million in total capital, comprising $16.2 million from its ICO, $32.5 million in venture capital, $31.93 million in direct payments from the DAO, and roughly $5.5 million in “unauthorized” exchange fees.
Zeller criticized Aave Labs for lacking transparency, specifically noting that the Horizon market’s actual scale and effectiveness fall far short of its surface-level metrics. He also accused Aave Labs of redirecting partner fees without prior governance votes. The report raises a critical question: Should the DAO support this record-breaking funding request before accountability and transparency issues are resolved?
