Aave Denies 70% Discount Token Sale, Confirms Revenue Flow to Holders

Aave co-founder Stani Kulechov has denied claims that AAVE tokens were being sold at a 70% discount. The allegations followed reports of strategic talks with Kraken, which aimed to acquire a 15% stake in Aave Group for about $71 million.

Kulechov confirmed that any discussions involve existing allocations held by Aave Labs and emphasized that all revenue from the protocol goes directly to AAVE token holders under the Aave Will Win proposal. He also announced the development of Aavenomics 3.0, which will introduce an automated buyback mechanism to support the token.

Aave aims to expand beyond crypto into broader financial assets and has achieved $134 million in annualized revenue. The company emphasizes alignment between Aave Labs, the DAO, and AAVE token holders as it pursues its strategic goals.