- Aave founder denied that Kraken is buying a 15% stake at a $385 million valuation.
- Kulechov says 100% of Aave Protocol and GHO revenue goes directly to the AAVE token.
- Aavenomics 3.0 will introduce an immutable, automated buyback mechanism for AAVE.
Aave founder Stani Kulechov has pushed back against a report that crypto exchange Kraken is in talks to acquire a 15% stake in Aave Labs at a $385 million valuation, flatly denying the deal while leaving the door open for a different kind of arrangement.
“Absolutely not,” Kulechov wrote in response to the reports, before adding that buying AAVE tokens directly remains an option for any interested party.
What the Report Said and What Kulechov Corrected
As per reports, Kraken was in discussions to purchase a 15% stake in Aave Labs at the $385 million valuation, implying a discount of roughly 70% to the current market value of AAVE holdings. Kulechov dismissed that framing, saying there is no way Aave Labs would sell AAVE at a 70% discount.
He used the moment to clarify several points about how Aave’s revenue actually flows. According to Kulechov, 100% of Aave Protocol and GHO revenue goes directly to the AAVE token, as established under the Aave Will Win proposal. That framework also covers all product revenue from the Aave App, Aave Pro, and Swaps.
No protocol or product revenue flows to Aave Labs, he said, which operates as a service provider to the DAO rather than a revenue recipient.
A Revenue Dispute Surfaces
That last point immediately drew criticism. Community member Luke Cannon argued the framing was misleading, arguing that Aave Labs receives significant payment from the DAO as a service provider, which effectively means revenue is flowing to it regardless of how it is categorized. “Ofc, that’s literally some amount of revenue going to Aave Labs,” Cannon wrote, calling the distinction semantic.
Others defended the structure, arguing that paying a team for labour is not the same as revenue capture.
Aavenomics 3.0 and Automated Buybacks
Beyond the Kraken denial, Kulechov dropped an important piece of forward guidance. The Aave team is currently designing Aavenomics 3.0, which will include an immutable and automated buyback mechanism for AAVE tokens. He described it as non-discretionary, meaning it would operate without requiring ongoing governance votes to execute purchases.
He also outlined Aave’s broader ambitions, saying the protocol is building not just for the crypto market but for the entire finance asset space, including real-world assets. He confirmed that all intellectual property, including the Aave brand and any software built for the protocol, belongs to AAVE token holders.
Aave is currently generating $134 million in annualized revenue, all of which flows to the Aave DAO. A quarterly community call is scheduled for the coming weeks, where further details on the roadmap are expected.
Related: Standard Chartered Predicts Aave Could Surge 50x to $3,500 by 2030
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