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Aave to Receive 7% of Token Supply under WLFI Proposal, Valued at $2.79 Billion

Aave to Receive 7% of Token Supply under WLFI Proposal, Valued at $2.79 Billion

The WLFI team refutes claims of a 7% token share for Aave, while previous proposals indicated AaveDAO’s stake in protocol fees and token allocation, leaving the situation unresolved.

AAVE

Summary

The WLFI team has denied the claim that Aave will receive 7% of the WLFI total supply, despite earlier proposals suggesting AaveDAO would earn a portion of protocol fees and WLFI tokens. AAVE briefly dropped over 5%, reflecting uncertainty about the partnership's details.

Terms & Concepts
  • AaveDAO: The decentralized autonomous organization governing the Aave protocol, responsible for decision-making and protocol governance.
  • Protocol Fees: Fees generated by a cryptocurrency platform for using its services, typically distributed to governance entities or token holders.