Aave (AAVE)

In CoinDesk's report, the transaction details state that Kraken invested about $71 million, acquiring 15% equity of the Aave Group and 250,000 AAVE tokens, valuing Aave overall at $385 million.

This proposal has currently been denied by Aave Labs, but Stani's implication suggests that indeed an institution is negotiating to purchase the AAVE tokens held by Aave Labs—that is true. https://t.co/2IjdzuvJqS

.@0xMari0 is the founder of @getstableapp, a consumer savings app built on DeFi that @aave labs acquired and is now scaling as Aave App.

Mario was a machine learning engineer at Meta before leaving to build in crypto. Stable let everyday users earn DeFi yields without needing to understand the technology underneath, and he grew it to 10,000 users through the Alliance DAO accelerator before joining Aave as VP of Product.

The Aave App is a consumer savings and spending product designed for the 4 billion people worldwide who use fintech products but have never used DeFi. It offers stable savings rates, balance protection insured up to $1 million per customer.

Behind it sits Aave V4 with a hub and spoke lending model, Aave Horizon for real world assets, and Aave Pro for regulated deposits and withdrawals.

Mario's conversation with @dr3wrogers:

3:30 - From machine learning at Meta to building on stablecoins

6:05 - Alliance DAO and his first introduction to Aave

8:05 - How he's building for users who've never used DeFi

Aave founder Stani Kulechov responded to reports that Kraken is seeking to acquire a 15% stake in Aave Group, saying Aave Labs would not sell AAVE at a 70% discount and that the reports inaccurately described the proposed transaction. He added that all protocol and product revenue accrues to the Aave DAO rather than Aave Labs, while Aave Labs’ AAVE allocation has been discussed with multiple parties as part of potential long-term partnerships. Kulechov also said Aave is generating approximately $134 million in annualized revenue and is developing Aavenomics 3.0 with an automated buyback mechanism.