Key Points
- Aave presents the updated Aavenomics proposal to the Aave DAO.
- AAVE price surged since the announcement.
Aave just published its updated Aavenomics proposal to the Aave DAO. The new update is considered the most important proposal in Aave’s history, following half a decade of hard work.
The announcement was made via X by Marc Billy Zeller, Aave DAO service provider.
Marc Billy Zeller via XAave Update Revealed
In the official notes, Zeller revealed that this new proposal seeks governance approval for the first part of the implementation of updated Aavenomics.
The proposal will:
- Update the AAVE tokenomics
- Update the protocol excess revenue redistribution
- Deprecate LEND
- Update AAVE secondary liquidity protocol management
Zeller also said that this proposal is the continuation of the Aavenomics update presented in July 2024 and approved by the governance in August 2024.
The current proposal is focused on implementing Aavenomics.
Important Subjects in the Proposal
In the proposal, Zeller addressed the following important subjects:
- Expected revenue growth in 2025 for Aave
- Creation of the Aave Finance Committee and Umbrella focus as a protective mechanism for users and a growth tool
- Umbrella assets focus including wETH, USDC, USDT, GHO
- Rewards Distribution tokens with wETH, USDC, USDT, and AAVE as suggestions
- Activating Umbrella on Ethereum, Avalanche, Sonic, Arbitrum, Gnosis, Base
Zeller also addressed the AAVE secondary liquidity management, addressing the following:
- Closing the LEND chapter
- Protocol excess revenue for AAVE stakers
- The creation of Anti-GHO a name that derives from anti-matter; Anti-GHO is a non-transferable ERC20 token generated by AAVE and StkBPT Stakers
- AAVE Buy and Distribute Program
The update triggered a price surge for the AAVE token.
AAVE Price Spiked
At the moment of writing this article, AAVE is trading at over $184, with a market cap of more than $2.77 billion.
AAVE price in USD todayBefore the announcement, AAVE was trading at around $174, with a market cap of over $2.63 billion, and the coin spiked to over $187, reaching a market cap of over $2,78 billion after.
AAVE recorded a price spike of over 7% after the update announcement.
Aave is a decentralized finance protocol allowing people to lend and borrow crypto.
