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- Aave V4 run by Aave Labs
- Aave v3 by BGD+ACI
It would not be the best outcome for $AAVE holders (by a mile) but if they want to shut down the v3 ASAP, it's the one that would be ... entertaining.
Yet Aave Labs holds enough $AAVE tokens to block any vote 'giving' v3 to the DAO. It would include building a new brand as well.
Thus highly unlikely.

Feb 20, 2026
6) On top of that nothing stops BGD+ACI to launch a "Just use AAVE Classic", further eating into market share (and actually having a differentiator compared to both AAVE and Morpho)
The DAO had also voted on a friendly fork procedures.
All we need is a vote of YES from Aave Labs.

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