Aave DAO approves Aave Labs' $25 million grant proposal
Odaily reported that Aave DAO passed Aave Labs' first binding proposal under the Aave Will Win framework on Sunday. The proposal received support from 522,780 AAVE tokens and was opposed by 175,310 AAVE tokens, with a support rate of approximately 75%. Based on the voting results, Aave Labs will receive a $25 million stablecoin grant, including an immediate allocation of 5 million aEthLidoGHO tokens, and a total of 20 million aEthLidoGHO tokens to be distributed over 6 and 12 months. In addition, Aave DAO will allocate 75,000 AAVE tokens (about $6.8 million) from the ecosystem reserve, unlocked linearly over 48 months. Aave Chan Initiative cast 166,200 AAVE tokens in opposition. Addresses such as ParaFi Capital (190,000 AAVE tokens), luggis.eth (123,580 AAVE tokens), and others cast support votes. The fund execution is scheduled for Monday afternoon, when the funds will start flowing to Aave Labs' control address.
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