Rumors of an AAVE sale with a 70% discount have been refuted: the project's founder has clarified the situation.
In recent days, the crypto community has been buzzing with discussions about a potential deal between the Kraken exchange and the Aave protocol. The focus was on rumors that Aave Labs was allegedly preparing to sell a significant portion of AAVE tokens at a colossal 70% discount. However, project founder Stani Kulechov quickly dispelled these speculations, categorically denying such a practice.
Information about a possible sale of approximately 15% of the company at a valuation of $385 million caused a sharp rise in the AAVE rate by nearly 7% — the token stabilized around $87. Nevertheless, Kulechov emphasized that negotiations between Kraken and Aave Labs concern only a portion of tokens belonging to the company's division, not all protocol assets.
Why the rumors caused a negative reaction
Kulechov called the information presentation "incorrect" and noted that anonymous sources provided inaccurate details. He confirmed the fact of negotiations but ruled out the possibility of selling AAVE at a reduced price. "We will never sell AAVE at a 70% discount," the founder stated. It is important to understand that Aave Labs acts solely as a service provider for the DAO and does not receive a share of the protocol's revenue — all proceeds are distributed directly to AAVE token holders.
The dialogue between Kraken and Aave intensified amid recovery from the KelpDAO incident in April, when hackers took out large loans backed by unbacked coins, creating problematic debt of up to $230 million. Although Aave's protective smart contracts withstood the pressure, the outflow of client funds led to a reduction in total deposit volume by more than a third. However, today the protocol still holds about $12 billion.
Aavenomics 3.0 and buyback plans
Kulechov also announced a new version of the economic model — Aavenomics 3.0, which will make the buyback of AAVE tokens fully automatic. Currently, there is a program allowing the purchase of up to $50 million in tokens per year at the DAO's discretion. Following this announcement, the cryptocurrency began to appreciate, confirming the market's belief in the project's long-term strategy.
It is worth noting that the stake in the project fits well into Kraken's series of acquisitions ahead of its expected exchange listing. This year, the exchange has already agreed to acquire the derivatives platform Bitnomial for up to $550 million to obtain rare licenses in the US derivatives market. In the coming weeks, Aave will hold a quarterly community call, where it will become clear whether negotiations with Kraken will solidify and how the automation of buybacks will change the fate of AAVE.
Expert opinion: The market often overestimates rumors about major deals, but in this case, the reaction was excessive. Aave's fundamental indicators remain strong, and if buyback automation is implemented, it could become a powerful catalyst for token growth in the long term.