Stan Kulechov denied rumors about selling AAVE at a 70% discount: what lies behind the negotiations with Kraken
Passions are running high in the crypto community over a potential deal between the Aave protocol and the Kraken exchange. Rumors that Aave Labs is allegedly preparing to sell a package of AAVE tokens at a giant 70% discount sparked a strong reaction and a short-term price spike. However, the project's founder, Stani Kulechov, was quick to set the record straight, categorically denying this information.
According to my data, the initial leaks did indeed mention the sale of approximately a 15% stake in the company at a valuation of $385 million. But Kulechov made it clear: there is no question of any sale of AAVE at a reduced price. He only confirmed the fact of negotiations between the entities regarding the buyback of some tokens belonging to the Aave Labs division.
Deal Context: From Licensing to Recovery After a Hack
It is important to understand that a hypothetical agreement would be a logical continuation of an existing partnership. Recall that in 2025, the Aave DAO community almost unanimously (99.8% of votes) approved the transfer of a license to Kraken to launch the Ink blockchain network. This network is now actively developing its own lending platform based on Aave's code, sharing a portion of its operational income with the protocol.
The dialogue between the parties resumed amid the recovery from the April incident with KelpDAO. At that time, hackers, using unbacked coins, created problematic debt amounting to up to $230 million. Although Aave's smart contracts withstood the pressure, the liquidation of the consequences led to an outflow of client funds — the volume of deposits decreased by more than a third. Nevertheless, the protocol still holds approximately $12 billion, which speaks to its fundamental resilience.
Aavenomics 3.0 and Buyback Plans
Kulechov also reminded about the key principles of tokenomics. Aave Labs acts solely as a service provider for the DAO and does not receive a share of the protocol's revenues. The entire flow from Aave and the GHO stablecoin is directed to AAVE holders. Moreover, version Aavenomics 3.0 has been announced, which will make token buybacks fully automatic. Currently, there is a program in place that allows buying back up to $50 million worth of AAVE per year at the community's discretion. It was after this news that the cryptocurrency began to rise in value.
My analysis: The market often reacts to unverified information, and this case is no exception. However, Kulechov's statements remove the risk of a forced sale and confirm Aave's long-term strategy to strengthen the token's value for holders. In the coming weeks, the quarterly community call should bring clarity both on the deal with Kraken and on the details of automating buybacks. This will be a key catalyst for the further dynamics of AAVE.