# Сопутствующие статьи по теме Governance

Cardano Founder Says Pentad Faces $40 Million Shortfall After ADA Price Crash

bitcoinist03/09 12:03

Aave’s revenue surges despite DAO turmoil – Is lending DeFi’s backbone now?

Despite internal governance turmoil, Aave has demonstrated strong and consistent revenue growth, underscoring the resilience of lending protocols as a stable revenue engine within DeFi. While speculative sectors like DEXs and NFTs experience volatility, Aave generated $1.62 million in daily fees and $82.14 million over 30 days, supported by $32.4 billion in TVL. Its stablecoin utilization rates remain near 60–70%, reflecting sustained borrowing demand rather than speculative activity. With cumulative revenue approaching $145 million over the past year and over $1 trillion in total loan volume, Aave continues to function as DeFi’s core on-chain credit infrastructure, facilitating trading, arbitrage, and treasury management activities.

ambcrypto03/08 03:02

Valuation Collapse and Revenue Divergence: Reassessing the True Logic of Crypto Assets

Cryptocurrency valuations are collapsing as the industry matures, with infrastructure tokens losing their premium while revenue becomes concentrated in a few key sectors. Despite generating record fees ($74.8B since 2018, nearly half in 2024-2025), the market is gripped by fear, with projects shutting down and talent migrating to AI. Stablecoin issuers Tether and Circle now capture 34.3% of all crypto fees, benefiting from massive demand (hedging against inflation in emerging markets) and near-zero marginal costs. Their dominance stems from distribution advantages and Lindy effects, not technical superiority. Meanwhile, speculative trading products (Telegram bots, perpetual exchanges like Hyperliquid) grew rapidly, accounting for over 15% of fees by 2025. These leverage crypto’s mature infrastructure to offer high-risk, dopamine-driven financial services. In contrast, DeFi protocols and L1/L2 chains face valuation compression. Price-to-fee ratios for major chains (Solana, Arbitrum, Optimism) fell dramatically as novelty premiums faded. The market now values revenue-generating protocols rationally—often at or below traditional finance multiples (e.g., Aave at 4x P/S vs. Visa’s 15x). The key insight: Crypto’s must build real economic moats (first-mover advantage, liquidity, or distribution) and赋予代币实际权益 token holders with clear economic rights and governance power. The era of speculative narratives is over; sustainable value comes from capturing fees via high-frequency trading or trust-minimized transactions.

marsbit03/06 10:07

Korea Tones Down 20% Crypto Exchange Stake Ban as Regulators Seek Governance ‘Middle Ground’

South Korean regulators and the ruling party have agreed to impose a 20% ownership cap on major shareholders of cryptocurrency exchanges, following months of debate. The policy includes a three-year grace period for large platforms like Upbit and Bithumb, and up to six years for smaller exchanges. The cap, part of the broader Digital Asset Basic Act, aims to limit founder control while allowing limited exceptions for new businesses. Opposition from industry groups and some lawmakers may still affect the bill's final passage.

bitcoinist03/05 07:40

Ripple Outlines Next Steps After Critical XRP Ledger Batch Amendment Bug

Ripple is implementing stricter security measures for the XRP Ledger amendment process after a critical bug was discovered in the proposed Batch amendment (XLS-56). The flaw, identified by Cantina AI, was caught before activation, preventing any mainnet impact. RippleX Head of Engineering J. Ayo Akinyele acknowledged the amendment "progressed further than it should have" and emphasized the need for higher review standards. While the network's safeguards worked as a final defense, Ripple is taking steps to make them a primary one. Proposed changes include mandatory multiple independent audits for high-risk features, an expanded bug bounty program, and formal adversarial testing. The company is also incorporating AI-assisted code review and aims to make formal verification standard for critical ledger components.

bitcoinist03/04 17:32

‘Undisclosed voting power’ – ACI’s exit claim sends AAVE tumbling 10%

Aave Chan Initiative (ACI), a key service provider, announced its exit from the Aave ecosystem, citing Aave Labs' "undisclosed voting power" and aggressive control as reasons. This follows a similar departure by BGD Labs last month. The ongoing governance crisis, which began with accusations of Aave Labs seizing DAO revenue, deepened after a controversial $50 million proposal passed narrowly. In response, Aave's CEO stated the protocol remains unaffected. However, investor confidence wavered, causing a 10% drop in the AAVE token price. Data shows major whales reduced their holdings by nearly half since January, reflecting growing concerns over centralization and governance.

ambcrypto03/04 13:02

Vitalik Buterin Says Ethereum Must Evolve Into ‘Sanctuary Tech’ to Defend Human Freedom

Vitalik Buterin, co-founder of Ethereum, has called for the platform to evolve into "sanctuary tech" to defend human freedom against increasing centralized control. He emphasized that such technology should enhance user freedom, reduce reliance on intermediaries, and protect data privacy and free speech. Buterin highlighted Ethereum’s open infrastructure as a foundation for rights-respecting innovation and pointed to decentralized finance and smart contracts as tools for improving financial inclusion. He also stressed the importance of robust governance, anti-censorship protocols, interoperability with other networks, and alignment with laws that safeguard freedoms. Buterin encouraged ongoing research and collaboration, noting that community-driven efforts are essential for developing censorship-resistant technologies and strengthening societal resilience.

TheNewsCrypto03/04 12:09

AAVE jumps 7% on $42.5 mln governance boost – Can it break $130?

AAVE surged 7.5% on March 2, approaching the $120–$130 resistance level not breached since early February. While recent attempts to break this level resulted in bull traps and long liquidations, current on-chain activity suggests a stronger foundation. A major governance-approved proposal allocates $42.5 million to Aave Labs, boosting development funding and returning all revenue to the DAO treasury. This, combined with increased accumulation by large investors and high development activity, reduces the risk of another bull trap. The rally appears strategic rather than speculative, potentially enabling AAVE to decouple from broader altcoin trends and sustain a breakout above $130.

ambcrypto03/04 04:05

Core 'Key Contributors' Depart One After Another, Has Aave's DAO Dream Shattered?

Recent weeks have seen major internal turbulence within Aave, one of DeFi’s most successful DAOs. The Aave Chan Initiative (ACI), a core governance team, announced it would cease operations and exit the ecosystem on March 3, following the departure of BGD Labs, the development team behind Aave V3, just two weeks earlier. The crisis stems from governance disputes that began in December, when Aave Labs unilaterally switched the protocol’s front-end aggregator from ParaSwap to CoW Swap, redirecting fee revenue from the DAO treasury to Aave Labs. In response, Aave Labs proposed the bundled “Aave Will Win” proposal in February, requesting $51M in funding for V4 development in exchange for routing all future product revenue to the DAO and phasing out V3. ACI strongly criticized the proposal, alleging that a significant portion of supporting votes came from addresses linked to Aave Labs, raising concerns about self-dealing and lack of transparency. Despite ACI’s attempts to introduce stricter accountability measures, their proposals were not adopted. The departures of both BGD Labs and ACI—key contributors responsible for technical development and governance—raise serious questions about Aave’s future, including technical risks associated with transitioning to V4 and the centralization of decision-making power. The situation highlights broader challenges in DAO governance, where power often remains concentrated among founders, developers despite the ideal of decentralized token-holder control. Moving forward, the resolution of the “Aave Will Win” proposal and the possibility of a protocol fork remain critical points to watch. How Aave addresses its governance flaws and rebalances power among stakeholders may determine its ability to sustain long-term growth.

比推03/03 23:09

XRP Ledger Security Debate Intensifies After BatchGate Scare

Following the near-miss incident known as BatchGate, a significant security concern has sparked a broader debate around governance and safety protocols on the XRP Ledger. Validator operator Daniel Keller criticized the existing review process as a "systemic failure" and withdrew support for all pending amendments. He emphasized that validators are governance participants, not unpaid auditors, and called for amendment proposers—particularly Ripple—to provide comprehensive documentation, testing, and security proofs. Keller also urged Ripple to increase investment in core protocol engineering and security. Other community members, like validator Vet, advocated for slower amendment rollouts, paid audits, and larger bug bounty programs. Keller disagreed with simply slowing down development, instead pushing for better incentives and resources to maintain progress without compromising security. The incident has raised fundamental questions about whether the XRPL’s amendment process has sufficient safeguards for the scale of changes being proposed. At the time of reporting, XRP was trading at $1.3566.

bitcoinist03/03 18:31