#以太坊生态发展 Seeing the ongoing escalation of Aave's governance disputes, I feel a bit emotional. The issue of approximately $10 million in frontend revenue ownership seems on the surface to be a matter of profit distribution, but fundamentally it reflects a deeper contradiction in the DeFi ecosystem—the unclear boundary between DAO and commercial entities.

Thinking carefully, this situation is actually quite common. DAOs control smart contracts and risk parameters, while Labs manage the frontend, domain names, and social accounts. Both sides believe they have made core contributions to the ecosystem. But the problem is that when profits are actually generated, the rules of distribution are often opaque or contentious.

My observation is that although such conflicts may cause short-term price fluctuations, in the long run, they might actually promote healthier evolution of the entire ecosystem. Clear governance boundaries and transparent incentive mechanisms are, in fact, the foundation for building trust.

For holders, this is a reminder—before participating in any DeFi project, you really need to understand those invisible power distributions. It’s not just about looking at the yield; you also need to ask clearly: who truly controls the future direction of this ecosystem? What is the basis for the promised returns? If these questions are not clear, the risks are often seriously underestimated.

A prudent way to participate is to do your homework before extreme situations arise.