BlockBeats 消息，2 月 25 日，Aave 生态贡献组织 ACI 创始人 Marc Zeller 发布公开报告，披露 Aave Labs 自 2017 年以来累计获得约 8600 万美元资本支持，包括 ICO、VC 融资及 DAO 直接拨款，同时创始团队在 2017 年 ICO 时保留了 23% 的 LEND 代币（后按 100:1 迁移为 AAVE）。报告指出，Labs 在获得 DAO 资金前已拥有约 4870 万美元资本基础，而后又从 DAO 获得约 3740 万美元拨款，目前正通过「Aave Will Win」提案再申请 5100 万美元资金。
报告重点质疑 Labs 过往产品表现，称其除核心协议外推出的六个独立产品均失败或未实现盈利。其中 RWA 项目 Horizon 虽一度对外宣称规模突破 10 亿美元，但实际 RWA 抵押规模约 1.35 亿美元，且高度集中于单一资产。自 2025 年 8 月上线以来，Horizon 为 DAO 带来的累计收入约 21.6 万美元，但激励与相关成本支出约 525 万美元，投入产出比约为 24:1。
报告还指出，Aave V1、V2 及 V3.0 早期核心开发成员已于 2021—2022 年间离开 Labs，V3.0 被视为 Labs 主导的最后一个重大协议版本，此后版本主要由 DAO 服务商推进。相关治理投票中，一单一大额委托地址对 Horizon 提案起到关键性通过作用，引发社区关于治理权力集中与资金使用效率的讨论。
上述争议正值新一轮 1750 万美元产品增长拨款提案审议之际，Aave 社区围绕资金分配、绩效披露与治理透明度的讨论进一步升温。
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