The Aave Chan Initiative (ACI), a key management agent and service provider in the Aave ecosystem, said it will not renew its partnership with Aave DAO and plans to terminate in the next four months.
In a statement on Tuesday, ACI founder Mark Zeller said the organization will continue to operate and fulfill outstanding obligations before handing over its infrastructure and responsibilities to DAO or its successor providers.
“The Aave Chan initiative was created for Aave. Without a future in the Aave ecosystem, the name no longer works. ACI will end when our commitments are complete,” Zeller said.
ACI said its decision to pull out was prompted by concerns about governance standards and voting dynamics during the offering, which marks a significant change in Aave’s governance landscape as its funding plan moves into the next phase.
Switch to Aave management
The announcement follows a highly controversial Temp Check vote on Aave’s “Aave Will Win” proposal, which seeks to fund up to $42.5 million in stablecoins and 75,000 Aave (AAVE) tokens to Aave Labs under a DAO development model.
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ACI has previously questioned the size of the funding package and the inclusion of Aave tokens that carry voting power. On February 25, competing reports from ACI and Aave Labs offered different interpretations of Aave Labs’ past contributions prior to the vote.
Temp test passed with 52.58% support. An off-chain Snapshot vote on Sunday had 52.58% in favor, 42% against and 5.42% abstentions.
Under Aave’s leadership, proposals must go through an Aave Request for Final Comment (ARFC) stage and another off-chain vote before moving on to a binding Aave Improvement Vote (AIP).
Management problems and voting claims
In its statement, ACI said that Temp Check was “voted by the addresses related to the Labs on its budget”, referring to the funding proposal submitted by Aave Labs.
The group said there is no “role of an independent service provider” in circumstances where a major budget recipient has undisclosed voting power and participates in a vote that affects its own funding.
ACI said it would make a direct offer to Aave to cancel the GHO funding stream and transfer 120 days of payments to the fund to complete the transition.
It also said it will discontinue its AAVE issuance process through LlamaPay once the offer is implemented.
Aave Labs did not immediately respond to a request for comment.
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