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

Aave’s “Aave Will Win” (AWW) proposal would unify protocol and application revenue under a single AAVE token asset, with earnings directed entirely to the DAO treasury for the first time.

Aave moves toward a full-stack revenue model

Under the AWW framework, a new revenue layer would sit on top of existing Aave Protocol earnings. Application and product revenue from Aave Pro, Aave.com, Aave App, Horizon, and Aave Kit would flow to the DAO.

The proposal marks an expansion beyond the protocol-only revenue model in place since the project launched. Aave Labs founder Stani Kulechov said the DAO accumulated $140 million in protocol revenue in 2025, and 2026 revenue is tracking at a similar level despite broader market weakness.

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

“Aave Will Win, the most important proposal in Aave's history just passed with a landslide.”

The additional application revenue would be additive to what the protocol already generates, supporting the full-stack revenue model envisioned by AWW.

Revenue allocation and protocol ownership

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

Aave V4’s reinvestment feature is also part of the broader approach, allowing idle capital in pools to generate additional yield for the protocol. New V4 Spokes are intended to unlock further collateral and address demand-side liquidity needs in DeFi, complementing the revenue changes introduced under AWW.

Aave Labs said it will work exclusively on the protocol’s own products going forward, meaning AAVE token holders would own the protocol’s brand, users, and integrations through one unified asset.

Governance rules tighten as risk management expands

Alongside the revenue shift, AWW would change governance toward a “zero-bureaucracy” structure focused on execution. Service providers would be held to measurable goals rather than process-heavy deliverables.

Kulechov stated that “Payments for posting governance proposals are over,” and said the DAO has already consolidated service providers to direct resources more effectively. Going forward, service providers that align with token holder interests would receive budget support if requests remain reasonable.

The new rules require full transparency from all service providers. Relationship gating and value leakage away from the protocol would not be tolerated, and anything built with DAO funds must benefit the protocol and remain owned by it.

Risk framework and coordination

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

Aave Labs would also build a permanent internal risk management function to sit alongside external managers, aiming to make the overall risk framework more resilient. Better coordination between layers is expected to strengthen the protocol’s response to market and technical risks.