Aave DAO Rejects Brand Ownership Proposal After Governance Vote

Aave token holders voted against a controversial governance proposal seeking to place control of the protocol’s brand assets under DAO ownership.

On Friday, the snapshot poll closed with 55.29% voting “NAY” and 41.21% abstaining. Only 3.5% of voters supported the proposal.

The proposal asked whether Aave (AAVE) token holders should regain control over Aave’s domains, social handles, naming rights and other intellectual property through an entity under a decentralized autonomous organization (DAO). Supporters framed the move as a step toward…