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AAVE Sentora向Aave DAO提交治理提案：请求五五分账Aave V4协议收入
据在Aave治理论坛流传的提案显示，Sentora已正式向Aave DAO提交了一项治理提案，请求将Aave V4产生的协议收入进行50/50分配。若该安排获得批准，Aave V4的费用收入将有一半流向Sentora，另一半则注入DAO金库。
提案涵盖范围
该提案的核心聚焦于由Aave V4（借贷协议的下一个主要版本）产生的收入。Sentora在合并多个去中心化金融（DeFi）平台后，以2500万美元的资金支持启动，目前正将自己定位为基础设施合作伙伴。其目标是与V4的费用流平分收益，而非收取固定的服务费。
需要强调的是，这一50/50的分配比例仅为提案，并非已确认的分配政策。截至目前，公开信息中尚未披露具体的实施日期、收入定义或费用范围。在资金分配生效之前，DAO成员需通过Aave的标准治理流程对条款进行审查、辩论和投票。
50/50分配模式的结构意义
The 50/50 model is structurally significant because it links Sentora's earnings directly to Aave V4's performance rather than based on fixed contracts. This interest-binding mechanism may appeal to DAO voters who prefer "risk-sharing" partners; but at the same time, it also means that the DAO will give up half of any revenue stream from V4 rather than keep it in the vault or allocate it to AAVE token holders.
Aave's agreement revenue and total lock-in value (TVL) data can be tracked through tools such as DeFiLlama and Token Terminal.
Why this proposal is critical to Aave DAO
DAO revenue and control
The revenue-sharing proposal directly affects the DAO treasury and the incentives for AAVE token holders. If the 50/50 allocation of V4 fees is passed, this will represent a recurring expense tied to agreed growth. This means that as usage increases, DAO's revenue share will expand, but Sentora's revenue share will also grow. How DAO members weigh this pros and cons and evaluate Sentora's claimed contributions will determine the final vote.
Questions to governance participants
Before formally conducting on-chain voting, governance participants may seek clearer definitions, such as: What is the specific definition of "Aave V4 protocol revenue"? What types of fees are included? In exchange, what obligations does Sentora assume? Details of these mechanisms are not confirmed in the current summary of the proposal.
该提案加剧了关于DeFi协议在过渡到新版本时如何构建合作关系的广泛讨论。
后续关注要点
可能影响最终交易的关键细节
接下来需要密切关注的步骤包括：Aave治理论坛中的初步反馈（温度检查）、Aave风险服务提供商发布的相关风险或财务建模分析，以及潜在的Snapshot投票或链上投票。目前，最终的交易机制、V4收入覆盖的确切范围，以及Sentora的服务承诺均未确定。
