Aave Will Win Proposal Passes: AAVE Token Now Controls Protocol Revenue, Brand, and Full Product Stack

TLDR:

• Aave Will Win proposal directs application revenue from Aave Pro, Aave App, and Horizon directly to the DAO treasury.
• Aave’s protocol revenue reached $140 million in 2025, with 2026 tracking similarly despite market weakness.
• Swaps on Aave.com and Aave Pro are generating $10–20 million in new revenue on top of existing protocol income.
• Aave Labs commits to zero-bureaucracy governance, requiring measurable SP goals and full financial transparency.

Aave has passed what its community calls the most important proposal in the protocol’s history. The Aave Will Win (AWW) proposal secured a landslide governance vote, reshaping how the protocol generates revenue.

The new framework positions the AAVE token as the central asset across all products and brand assets. It also introduces new application revenue streams beyond the core protocol. These earnings are directed entirely to the DAO treasury for the first time.

Aave Moves Toward a Full-Stack Revenue Model

The AWW proposal creates a new revenue layer on top of existing Aave Protocol earnings. Application and product revenue from Aave Pro, Aave.com, Aave App, Horizon, and Aave Kit will now flow to the DAO.

This represents a clear expansion beyond the protocol-only revenue model that has existed since the project launched.

According to Aave Labs founder Stani Kulechov, the DAO accumulated $140 million in protocol revenue in 2025. Revenue for 2026 is tracking at a similar level despite broader market weakness.

That growth was achieved through protocol-only income alone, making the addition of application revenue a notable shift.

Kulechov noted on X that swaps on Aave.com and Aave Pro are already generating between $10 million and $20 million.

This revenue is additive, sitting on top of what the protocol already generates. Together, the two streams begin building the full-stack revenue model the proposal envisions.

Aave V4’s reinvestment feature allows idle capital in pools to generate additional yield for the protocol. New V4 Spokes will also unlock further collateral and address the demand side of the DeFi liquidity market. These technical upgrades work in tandem with the revenue changes introduced under AWW.

Aave Labs has committed to working exclusively on the protocol’s own products going forward. This means AAVE token holders now own the protocol’s brand, users, and integrations through one unified asset.

Owning the full vertical stack is increasingly important as protocol competition intensifies across the DeFi space.

Governance Rules Tighten as Risk Management Expands

The governance model under AWW is shifting to a zero-bureaucracy structure focused on execution. Service providers will now be held to real, measurable goals rather than process-heavy deliverables.

The change reflects the DAO’s intent to compete with well-funded and efficient organizations in the broader financial sector.

Kulechov stated plainly on X: “Payments for posting governance proposals are over.” The DAO has already consolidated service providers to direct resources more effectively.

Going forward, SPs who align with token holder interests will receive budget support, provided their requests remain reasonable.

Under the new rules, full transparency from all service providers is a firm requirement. Relationship gating and value leakage away from the protocol will not be tolerated. Everything built with the DAO’s funds must benefit the protocol and remain owned by it.

On the risk side, Aave will maintain a dual-layer approach covering both economic and technical risk assessment. External managers such as Llama Risk and Token Logic will continue operating in their current roles. Their work will be supported and coordinated by a new internal team at Aave Labs.

Aave Labs will build a permanent internal risk management function to sit alongside external managers. This combined structure makes the overall risk framework more resilient.

Better coordination between layers is expected to strengthen the protocol’s response to market and technical risks ahead.