The Aave community has initiated a new proposal on the governance page, suggesting the introduction of user aTokens as a voting mechanism called “Userocracy.”
The proposal highlights the current issue with the Aave DAO, where Aave token holders have all ownership and voting power, while protocol users have no voting rights. This has created an oligarchic system where early Aave owners and Aave token holders keep increasing their voting power. However, users are the most valuable assets of the protocol.
As Aave users lack any voting rights, their capital is at risk within the protocol. Therefore, it is proposed to make the following changes to the DAO:
50% of the voting power would belong to Aave token holders.
50% of the voting power would belong to users, namely aTOKEN holders (including debt and collateral).