Aave DAO Passes $25 Million Grant Proposal for Aave Labs

Odaily News Aave DAO passed the first binding proposal under the Aave Will Win framework for Aave Labs on Sunday. The proposal received support from 522,780 AAVE tokens and opposition from 175,310 AAVE tokens, with an approval rate of approximately 75%. According to 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 via stream payments over 6 and 12 months. Additionally, Aave DAO will allocate 75,000 AAVE tokens (approximately $6.8 million) from the ecosystem reserve, to be unlocked linearly over 48 months. The Aave Chan Initiative cast 166,200 AAVE tokens in opposition. Addresses such as ParaFi Capital (190,000 AAVE) and luggis.eth (123,580 AAVE) voted in favor. The fund execution is scheduled for Monday afternoon, at which point funds will begin flowing to the Aave Labs controlled address.