Morpho founder’s vault classification plan draws pushback from Aave’s Kulechov

The dispute is less about vault taxonomy than about who gets to write the rules regulators may eventually adopt. Frambot's framing would place manager-controlled vaults in a separate bucket; Kulechov and vault builders argue that a timelock changes the speed of control, not its existence, so the label risks flattering one design over another. The practical question is whether any classification gains traction with policymakers or remains an intra-industry argument, and whether 'noncustodial' can be defined by something more verifiable than a founder's assertion.