Leading lending protocol $AAVE reached 155,000 monthly active users in February, the highest number of all time. Remarkably, this achievement comes amid internal governance disputes.
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🔸 According to analytics data, Aave's monthly active users grew approximately 100% in just six months, hitting 155,000 in February. The main driver was the collapse of "basis trading" strategies, which once yielded 10-30% for investors. As yields dropped below 4%, investors shifted to DeFi lending as an attractive alternative.
🔸 Currently, Aave's total value locked (TVL) across 20 blockchains approaches $27 billion, cementing its absolute leadership. Fee revenue last month reached approximately $13.4 million, up 31% from the previous month, showing sustained borrowing demand.
🔸 However, Aave Chan Initiative (ACI) a key governance group announced it ceased operations due to transparency disputes with Aave Labs. Earlier, BGD Labs, a core technical contributor, also withdrew. The trigger was the "$50 million + Aave Will Win" proposal, sparking debates over fund control.
When a protocol sets user records while key personnel depart over internal disagreements, can financial strength overshadow governance fractures, or is this a warning about the need for operational transparency?
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