CDS Crypto News Aave and Maker: DeFi Giants Battle Over $2 Million Agreement
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Aave and Maker: DeFi Giants Battle Over $2 Million Agreement

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Aave And Maker: Defi Giants Battle Over $2 Million Agreement

Aave and Maker at Odds Over $2 Million Profit Sharing Arrangement

Aave and Maker: Aave DAO is publicly criticizing MakerDAO for not upholding a $2 million profit-sharing agreement. In February 2023, Phoenix Labs, the team behind MakerDAO’s lending protocol Spark, proposed sharing 10% of Spark’s profits with Aave over two years. The estimated total was $2 million as a token of appreciation for utilizing Aave’s code.

However, Marc Zeller, a delegate from Aave DAO, claims Spark has only delivered a fraction of the promised amount, attributing the shortfall to “creative accounting” by MakerDAO. Zeller urges for a more collaborative relationship between the two DAOs and suggests that the community consider declaring Spark a “non-approved fork” of Aave’s code.

Avi Eisenberg’s Fight for Lost Funds

Avraham Eisenberg, currently in jail for his $115 million exploit of Mango Markets, is also pursuing a legal battle to recover $14 million he alleges was stolen by Waves creator Sasha Ivanov. Eisenberg accuses Ivanov of a “bait-and-switch scam” and running a “global Ponzi scheme.” Despite court filings, Eisenberg has yet to serve Ivanov directly to proceed with his case. A previous investigation linked wallets associated with Ivanov to the siphoning of $530 million from a lending protocol on Waves, which Ivanov denies.

Polkadot’s Controversial Spending

Polkadot is under scrutiny after revealing it spent $37 million on marketing in the first half of the year, including $5 million on influencers and $180,000 to brand private jets. Critics argue these expenditures have not significantly boosted Polkadot’s profile. Despite the backlash, the cooperative’s spending rose 140%, totaling nearly $87 million, up from about $27 million in the latter half of 2023.

Data and Posts of the Week

RootData’s latest rankings highlight Sentient as the most popular crypto project, following an $85 million funding round led by Peter Thiel’s Founders Fund. Sentient aims to create a blockchain protocol for AI developers to monetize their models and data.

The Wau Holland Foundation published a preliminary report detailing the expenditure of 16,593 Ether raised by AssangeDAO in 2022. Meanwhile, Ethereum Foundation researchers proposed the enshrined proposer-builder separation.

FAQ

What is the dispute between Aave DAO and MakerDAO about?

Aave DAO claims MakerDAO failed to honor a $2 million profit-sharing deal involving MakerDAO’s Spark lending protocol.

Why is Aave DAO unhappy with MakerDAO?

Aave delegate Marc Zeller says Spark has only paid about 1% of the agreed profits due to “creative accounting.”

For more up-to-date crypto news, you can follow Crypto Data Space.

Aave And Maker: Defi Giants Battle Over $2 Million Agreement
Written by
Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.

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