Aave founder Stani Kulechov has quietly snapped up a £22 million ($30 million) mansion in London’s upscale Notting Hill, according to Bloomberg — a purchase reportedly secured at about a £2 million discount to the property’s original guide price. The acquisition arrives as the Aave ecosystem navigates a heated governance dispute over who should control the protocol’s brand assets. Kulechov, who launched Aave in 2017 (originally under the name ETHLend), remains a prominent figure in decentralized finance. His new London property — and public comments promoting the U.K. as a potential crypto hub — underline his personal confidence in the sector even while Aave’s internal politics simmer. Aave’s ecosystem currently holds roughly $50 billion in assets deposited across its markets, underscoring the protocol’s importance in DeFi. Tensions flared recently after a proposal from Aave Labs to transfer ownership of the Aave brand to the DAO was rejected by community voters. Critics say the vote exposed governance frictions and left some community members feeling sidelined in decisions with major financial and brand implications. The row has been amplified by additional flashpoints, including a reported $5 million fee tied to CoW Swap integration and debate around a proposed reinvestment module for Aave’s v4 application. Social media users poked fun at the timing of Kulechov’s property purchase, tying it to broader complaints about fees and Labs’ leadership. In response, Kulechov and supporters at Aave Labs have defended a more professionalized approach to product development, emphasizing the importance of Labs’ applications and services to the protocol’s long-term brand and revenue prospects. Whether viewed as a sign of personal success or a calculated bet on the U.K. as a crypto center, Kulechov’s move highlights a wider theme: as major DeFi projects mature and generate substantial revenue, debates over governance, asset ownership and the proper balance between foundations, Labs, and DAOs are only likely to intensify. Read more AI-generated news on: undefined/news

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