Aave DAO rejects proposal to absorb Aave Labs' IP and equity

The Aave DAO has rejected a proposal to absorb the intellectual property (IP) and equity of its developer, Aave Labs, and make it a subsidiary. The proposal failed, with 55.29% of votes cast against it. The measure was put forward following allegations that Aave Labs was privately appropriating swap fees generated from Aave's CowSwap-based interface. The proposal also included a provision that would have required Aave Labs to transfer all profits generated from the Aave brand to the DAO treasury.