Aave founder Stani Kulechov has pushed back against rumors that AAVE tokens could be sold at a 70% discount, calling the reports a misreading of internal discussions. He explained that all revenue from the Aave Protocol, GHO stablecoin, and related products ultimately flows to AAVE token holders through the governance framework set by the Aave Will Win proposal.
Kulechov stressed that no discounted token sale is in the works. Some market participants have explored direct or indirect purchases, but the focus remains on deeper long-term partnerships rather than discounted transactions. He also clarified that Aave Labs, despite leading the protocol's development, does not receive any protocol or product revenue — it operates purely as a service provider for the Aave DAO.
$134M Annualized Revenue, Buyback Mechanism Incoming
According to Kulechov, Aave currently generates approximately $134 million in annualized revenue, all of which flows into the DAO treasury. The Aave Will Win proposal directs all protocol revenue and GHO revenue — as well as income from Aave App, Aave Pro, and Aave Swaps — to the AAVE token.
He further revealed that the team is working on Aavenomics 3.0, which will introduce an automated and non-discretionary buyback mechanism. Additional details will be shared in the coming weeks. The move signals that Aave intends to use its revenue to repurchase tokens from the open market, rather than relying solely on inflationary incentives.
IP Belongs to the Ecosystem, Expansion Targets Real-World Assets
Kulechov also confirmed that all intellectual property associated with Aave — including the brand and protocol software — belongs to the AAVE ecosystem, not any single entity. This addresses governance concerns over ownership centralization.
On the strategic front, Aave is building beyond crypto. Kulechov noted that the protocol aims to serve the broader financial asset market, including real-world assets (RWA). Contributors across Aave Labs and the Aave DAO are working to strengthen the ecosystem, and the community is invited to join the upcoming quarterly call for updates on the roadmap and Aavenomics 3.0 progress.