Aave’s price dropped over 6% after Bored Ghosts Developing, a key contractor for the Aave DAO, announced it would not renew its contract, citing Aave Labs’ attempts to prioritize the new version of the protocol, Aave v4, as “borderline outrageous.” Bored Ghosts, co-founded by a former Aave Labs executive, has been instrumental in developing essential features for Aave v3, significantly contributing to its revenue generation. This departure is particularly notable amid a broader dispute over control between Aave Labs and the DAO regarding brand assets and protocol direction, which has sparked tensions that have been simmering since a recent governance vote to transfer brand rights narrowly failed.
Aave token drops as Bored Ghosts Developing ends contract
