This analysis misses some community members who didn’t end up being able to for technical reasons.
A number of funds with material AAVE positions, Blockchain Capital included, hold tokens at a custodian that had deprecated Snapshot support. Because the Snapshot was already live and governance stake was frozen, we weren’t able to delegate during the vote. We were planning on signaling Yae in support of moving the Aave Labs proposal forward in the governance process, and had we and other institutional investors at this custodian had not been limited, we believe the proposal would have succeeded by a materially larger margin.