"Unpublicized voting rights" — ACI's exit statement causes AAVE to plummet 10%

With another key service provider, Aave Chan Initiative (ACI), announcing it will exit Aave in four months, Aave’s governance crisis has worsened. ACI stated that the reason for leaving Aave is that Aave Labs is “overly controlling and lacks transparency.” Previously, BGD Labs took similar action last month. In response, Aave Labs CEO Stani Kulechov said the protocol is functioning normally and the transition will proceed smoothly. This news caused the AAVE token price to drop nearly 10%, to about $107. Data from Santiment shows that whales holding between 1 million and 10 million AAVE have halved their holdings since late January, decreasing from 4.7 million to 2.58 million.