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Vietnam’s stock market upgrade prospects remain in focus ahead of the FTSE Russell mid-year review due on April 8, 2026. SSI Research said the decision will be a pivotal test for Vietnam’s transition from a frontier market to an emerging market, a milestone that could open the door to a…
Chaos Labs has ended its relationship with the Aave ecosystem after serving as the crypto lending protocol’s main risk service provider for three years, according to statements from both sides. The split was attributed to a budget dispute and disagreements over how Aave should manage protocol risk.
Chaos Labs founder Omer Goldberg said the decision was not made “in haste,” adding that the company had worked in good faith with Aave DAO contributors. He said Aave Labs was professional and had supported increasing Chaos’ budget to $5 million to retain the provider, but that the engagement no longer aligned with how Chaos believed risk should be managed.
Aave Labs CEO Stani Kulechov said Chaos did not leave on bad terms. However, he claimed Chaos sought to become the sole risk provider and push out other partners, a step Aave was not willing to accept.
Chaos played a key role in Aave’s back-end infrastructure, including pricing loans and risk management in the V2 and V3 markets since November 2022. During that period, Aave’s total value locked (TVL) rose fivefold to $26 billion.
Risk management has been a major focus within the Aave community following a reported loss of $50 million in a trade on March 12 while interacting with Aave’s interface. The following week, Aave said it would introduce an Aave Shield protection feature aimed at deterring users from high-risk trades.
Goldberg said there was increasing misalignment between the parties on risk management. He pointed to contributors leaving the effort, which he said increased Chaos’ workload, and argued that Aave’s V4 expanded functionality introduced additional operational and legal risks that fell on Chaos.
Goldberg also warned that migration timelines are typically long, stating that until V4 fully absorbs V3 markets and liquidity, both systems must be operated and managed simultaneously. He said the workload during the transition does not halve, but instead “doubles.”
He further argued that there is no clear regulatory framework, no safe harbor, and no settled law defining what a risk manager owes when a protocol fails. In his view, if things work, the work is invisible; if things break, blame is not.
Goldberg said Chaos announced it would walk away from a $5 million engagement.
Kulechov said Chaos wanted Aave to remove other risk providers, including LlamaRisk, and to rely on Chaos’ approach to risk management and price oracles. He said this would have required Aave to push out LlamaRisk and abandon its two-layer economic risk model.
Kulechov also said Aave was unwilling to integrate Chaos-built price oracles, citing Aave’s track record with Chainlink services, which users are currently more comfortable with at scale. He added that Chaos was already exploring winding down its risk consultancy services, and that Aave had offered to double its payment to $5 million to retain Chaos.
Cointelegraph reported that it reached out to Chaos Labs for comment. Kulechov said Chaos’ departure has not disrupted the Aave protocol, its smart contracts, token listings, or network integrations.
Moving forward, Aave said it would work closely with LlamaRisk to ensure a smooth transition and maintain its two-layer economic risk model.
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