Aave Co-Founder Kulechov Dismisses AAVE Discount Sale Reports, Teases Aavenomics 3.0 Buyback Plan

TLDR:

• Kulechov firmly denied reports of selling AAVE at a 70% discount, calling the media framing inaccurate.
• All Aave Protocol, GHO, and product revenue flows entirely to the AAVE token under the Aave Will Win proposal.
• Aave Labs is designing Aavenomics 3.0, featuring a new automated and non-discretionary AAVE buyback mechanism.
• Aave targets the entire financial asset market, including real-world assets, beyond the crypto-native TAM.

Aave co-founder Stani Kulechov has moved to address circulating discussions about AAVE token sales and the protocol’s revenue model.

In a post on X, Kulechov pushed back on what he called inaccurate media framing surrounding Aave Labs and its token allocation.

He confirmed that all protocol and GHO revenue flows to the AAVE token while teasing a new automated buyback mechanism. The protocol currently generates $134 million in annualized revenue.

Kulechov Rejects Discount Sale Reports, Outlines Revenue Framework

Kulechov was direct in dismissing reports suggesting AAVE tokens could be sold at a steep discount. Addressing the claim head-on, he wrote, “There is NO WAY we’d sell AAVE at a 70% discount lol.”

He then moved to clarify the structure governing all revenue flows within the Aave ecosystem. The Aave Will Win (AWW) proposal, already passed by the DAO, forms the backbone of that structure.

Under AWW, 100% of Aave Protocol and GHO revenue is directed to the AAVE token. Kulechov confirmed the framework also covers all product revenue streams. “AWW also applies to all product revenue, including the Aave App, Aave Pro, and Swaps,” he stated. None of that revenue flows to Aave Labs, which operates solely as a service provider to the DAO.

He also addressed Aave Labs’ own AAVE token allocation separately. Kulechov noted that “multiple market participants have discussed purchasing, directly or indirectly, through deeper long-term partnerships.”

That allocation is distinct from the DAO’s revenue framework and does not alter how protocol earnings are distributed to token holders.

On intellectual property, Kulechov was equally clear. He confirmed that “all intellectual property, including the Aave brand and any software built for Aave, belongs to AAVE.” Token holders, not Aave Labs, hold rights over these core assets under the current governance structure.

Aavenomics 3.0 and Aave’s Broader Financial Ambition

Beyond correcting the revenue narrative, Kulechov pointed to a coming upgrade. He revealed that “the Aave team is designing Aavenomics 3.0, which includes a new automated and non-discretionary buyback mechanism.” He noted that further details would follow in a later announcement, keeping the specifics close for now.

The planned buyback builds on a strong revenue foundation. Aave is generating $134 million in annualized revenue, all of which flows to the Aave DAO.

That base positions the DAO to sustain meaningful token buybacks without relying on discretionary decisions from any single party.

Kulechov also broadened the scope of Aave’s stated ambitions. He said Aave is “building not only for the crypto TAM, but for the entire finance asset TAM, including RWAs.” That framing places Aave alongside traditional finance infrastructure rather than solely within the DeFi space.

He closed his remarks with a pointed statement on organizational alignment. “Everyone at Aave Labs and Aave DAO works for AAVE,” he wrote.

That statement was directed at reassuring token holders that commercial and governance structures remain oriented around their interests above all else.