π₯ Why Aave isnβt a buy (yet) π
AI Summary
Milk Road PRO analyzes Aave's troubling six-week period marked by key contributor exits, governance tensions, and a major exploit, arguing the DeFi protocol faces bearish conditions despite its V4 upgrade launch. The analysis reveals power consolidating from the DAO toward Aave Labs company, with three major teams (BGD Labs, Aave Chan Initiative, Chaos Labs) departing amid revenue disputes and architectural changes.
Key Facts
Author Takes
Aave governance
Power inside Aave is quietly moving from the DAO and its independent contributors to Aave Labs, the company
AAVE token valuation
A 25x revenue multiple is hard to justify when revenues are down 70%, buyback ammunition is nearly spent, and the people who built the protocol's credibility walked out
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