Aave founder Stani Kulechov pushed back on a report about a potential Kraken investment in Aave Group, saying the company would not sell $AAVE tokens at a 70% discount.
Lots of discussions around Aave so I want to clarify a few things:
• First off, there is NO WAY we’d sell $AAVE at a 70% discount lol.
• 100% of Aave Protocol and $GHO revenue goes to the $AAVE token. This was established in the Aave Will Win proposal.
• AWW also applies to…
— Stani (@StaniKulechov) June 25, 2026
“There is no way we’d sell $AAVE at a 70% discount,” Kulechov said, calling the framing of the reported transaction inaccurate.
CoinDesk reported that Kraken is in advanced talks to invest 35,000 ETH for 250,000 $AAVE tokens and a 15% equity stake in Aave Group. The proposed transaction is reportedly worth about $71 million and values the company at $385 million.
Kulechov did not deny that strategic discussions are taking place. Instead, he said Aave Labs owns an allocation of $AAVE that several market participants have discussed purchasing through deeper, long term partnerships.
The distinction separates Aave Labs, a service provider responsible for developing the protocol, from the Aave DAO and its treasury.
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Kulechov said 100% of revenue generated by the Aave Protocol and $GHO flows to the $AAVE token through the Aave DAO.
The same framework applies to revenue from Aave App, Aave Pro and swaps following the approval of the Aave Will Win proposal. Aave Labs does not retain protocol or product revenue and instead receives funding from the DAO for its development work.
Kulechov said Aave is currently generating approximately $134 million in annualized revenue, all of which accrues to the DAO.
He also said the Aave brand, protocol software and other intellectual property built for the ecosystem belong to $AAVE under the new framework.
Kulechov also revealed that the team is designing Aavenomics 3.0, which will include a new automated and nondiscretionary $AAVE buyback mechanism.
He did not provide details on the size, launch date or funding structure of the planned system.
Aave already operates a buyback program financed through protocol excess revenue. The new mechanism could reduce reliance on discretionary governance decisions and create a more predictable link between protocol revenue and token purchases.
Kulechov said Aave is expanding beyond crypto lending to target the broader financial asset market, including tokenized real world assets.
$AAVE reached an intraday high of $87.5 before easing to around $81. The token has also received support from Standard Chartered’s newly published $3,500 price target for the end of 2030.