Aave, Solana ecosystem tokens lead crypto rebound as bitcoin steadies near $60,000
Key takeaways
- Leading the advance was the native token of Aave AAVE$93.69, the largest DeFi lending protocol, which jumped 19% over the past 24 hours.
- Aave founder Stani Kulechov pushed back in an X post against the suggestion that Aave assets could be sold at a steep discount.
- Kulechov also teased "Aavenomics 3.0," an upcoming overhaul for the token's design that will introduce an automated buyback mechanism.
Leading the advance was the native token of Aave AAVE$93.69, the largest DeFi lending protocol, which jumped 19% over the past 24 hours. CoinDesk reported Thursday that crypto exchange Kraken is exploring a strategic investment tied to the lending protocol, acquiring a 15% stake at a $385 million valuation.
Aave founder Stani Kulechov pushed back in an X post against the suggestion that Aave assets could be sold at a steep discount. He reiterated that all protocol revenue — currently running at an annualized $134 million, he said. — flows to the Aave DAO and ultimately benefits AAVE token holders under the protocol's recently adopted "Aave Will Win" framework.
Kulechov also teased "Aavenomics 3.0," an upcoming overhaul for the token's design that will introduce an automated buyback mechanism.