AAVE, the native token of the decentralized crypto lending platform Aave, has rallied over 45% to $135 in four weeks, outperforming every other top 100 cryptocurrencies by market value, including market leaders bitcoin
"There has been speculation that AAVE could activate their 'fee switch' to redistribute excess revenue generated by the platform to stakers. This follows a proposal aimed at seeking governance feedback on the protocol's potential to buy back tokens using surplus revenue and redistribute them to AAVE stakers and the minters of their stablecoin, GHO," Joshua de Vos, research lead at London-based digital assets data and index provider CCData told CoinDesk.
Web3 agency Deelabs explained on X that buybacks would create persistent bullish pressure in the market and Umbrella would eliminate the negative impact on AAVE price during loan liquidations."This just scratches the surface. There is a lot more to this proposal,"
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Defi Giant Aave Rakes in $6M in Revenue as Crypto Market PlungesOliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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