Aave founder Stani Kulechov denied reports that the protocol would sell AAVE tokens at a 70% discount, clarifying that any talks with Kraken about buying a stake involve existing allocations held by Aave Labs. He emphasized that all revenue from the Aave protocol and its GHO stablecoin flows directly to AAVE token holders, rejecting any notion of cheap token sales. Kulechov also announced plans for automated AAVE buybacks under the upcoming Aavenomics 3.0, extending a current program authorized to repurchase up to $50 million of AAVE annually. These developments come as Aave recovers from a major exploit in April and Kraken pursues acquisitions ahead of its planned public listing.
Major cryptocurrencies saw price declines, with Bitcoin dropping 2.1% to $63,925 and Ethereum falling 2.8% to $1,873.93. Other notable coins like Binance Coin and Solana also declined, reflecting a broad market pullback. Stablecoins remained steady n...
Aave suffered approximately $195 million in bad debt after an attacker exploited a KelpDAO cross-chain bridge hack that minted $292 million worth of unbacked rsETH tokens. These tokens were used as collateral to borrow $190 million in assets on Aave,...
Standard Chartered's digital assets team predicts tokenized assets on public blockchains will hit $4 trillion by 2028, split between stablecoins and real-world assets. Chainlink's LINK token is expected to benefit significantly due to its Cross-Chain...
EtherFi has restructured its weETH token by removing all restaking exposure, making it a pure liquid staking token (LST). This change aims to eliminate bundled risks associated with liquid restaking, which has faced security challenges such as major ...
The Ethereum Improvement Proposal EIP-8361, which aims to cap staking rewards if the staking ratio exceeds 50%, is facing overwhelming opposition from the Ethereum community. Data shows 99.7% of staked ETH holders oppose the proposal, signaling a str...
