Decentralized lending protocol Aave’s native token AAVE tumbled 8% after a rumor that its token deal with Trump family-linked DeFi protocol World Liberty Financial (WLFI) would not go ahead as planned.
The core issue centers around a governance proposal from October 2024, approved by the Aave DAO, that granted Aave about 7% of WLFI’s total token supply and 20% of the protocol fees generated by WLFI’s deployment on Aave v3.
However, blockchain reporter Colin Wu sparked confusion when he tweeted that the WLFI team had called those claims “false” and “fake news.”
This story is an excerpt from the Unchained Daily newsletter.
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Aave founder Stani Kulechov responded to Wu’s post, reaffirming that the governance proposal had been approved by both Aave DAO and endorsed by WLFI.
The snapshot vote of the proposal in question indicates that it passed on December 13, 2024, with 797% of the required quorum reached.
The deal would position Aave to get $2.5 billion worth of WLFI tokens at current prices.
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AAVE Tumbles After WLFI Reportedly Claims Token Deal is ‘Fake News’ - Unchained
Decentralized lending protocol Aave’s native token AAVE tumbled 8% after a rumor that its token deal with Trump family-linked DeFi protocol World Liberty Financial (WLFI) would not go ahead as planned.
The core issue centers around a governance proposal from October 2024, approved by the Aave DAO, that granted Aave about 7% of WLFI’s total token supply and 20% of the protocol fees generated by WLFI’s deployment on Aave v3.
However, blockchain reporter Colin Wu sparked confusion when he tweeted that the WLFI team had called those claims “false” and “fake news.”
This story is an excerpt from the Unchained Daily newsletter.
Subscribe here to get these updates in your email for free
Aave founder Stani Kulechov responded to Wu’s post, reaffirming that the governance proposal had been approved by both Aave DAO and endorsed by WLFI.
The snapshot vote of the proposal in question indicates that it passed on December 13, 2024, with 797% of the required quorum reached.
The deal would position Aave to get $2.5 billion worth of WLFI tokens at current prices.
“The Art of Deal,” tweeted Kulechov on X.