Aave Chan Initiative officially ends operations, Marc Zeller teases new project

CoinFeed July 1 news, according to Aave Chan Initiative (ACI) founder Marc Zeller, Aave DAO delegate and service provider ACI has officially ended operations today, marking the conclusion of this community-led governance platform after more than three years. Reflecting on its journey, Marc Zeller noted that ACI was founded during the DeFi downturn when Aave's TVL shrank to a quarter of the cycle high, and the protocol was losing approximately $35 million annually. During its tenure, ACI helped Aave turn its operating performance around to an annual revenue of $150 million, drove a 9x increase in AAVE price, and established a mature DAO governance and service network. Marc stated that the end of ACI is not the end of the journey, and new project plans will be announced soon.