Aave to Receive 7% of Total WLFI Tokens Sparks Ongoing Dispute, No Consensus Reached

BlockBeats News, August 24 — Aave’s official team and the WLFI team have clashed over the issue of “Aave receiving 7% of the total WLFI token supply,” triggering significant price volatility in the AAVE token. The timeline of events is as follows:

On December 6, 2024, the WLFI team proposed to “launch an Aave V3 instance on the Ethereum mainnet,” which was approved on December 13. According to the proposal, Aave, as a lending ecosystem partner of WLFI, will have the same reserve factor mechanism in this Aave v3 instance as in the main Aave instance. AaveDAO will receive 20% of the protocol fees generated by the WLFI Aave v3 instance and will be allocated approximately 7% of the total WLFI token supply, to be used for future participation in WLFI governance, liquidity mining, and promoting the decentralization of the WLFI platform.

At 20:30 last night, in response to questions such as “Is the agreement between WLFI and the AAVE protocol still valid? Are they really building on Aave? There are many different rumors circulating,” Aave founder Stani.eth stated that the agreement remains valid. He also prominently retweeted the view that “at current prices, the Aave treasury will receive $2.5 billion worth of WLFI, making it one of the biggest winners of this cycle,” calling this the art of the deal. Subsequently, AAVE surged to $385.

At 22:32 last night, a suspected WLFI Wallet team member, Dylan_0x (@0xDylan_), posted denying the news that “Aave will receive 7% of the total WLFI token supply” as related to the proposal, causing AAVE to drop by more than 5% in a short period.

At 00:13 early this morning, according to crypto media Wu Blockchain, the WLFI team told them that the claim “Aave will receive 7% of the total WLFI token supply” is false and is fake news. Subsequently, Aave founder Stani.eth responded under the tweet, stating that the proposal created by the WLFI team had been voted on and approved by Aave DAO, with WLFI’s consent, and attached the proposal link.

BlockBeats note: There is currently no conclusion on this matter, nor is there any official public channel to verify whether Dylan_0x (@0xDylan_) is a member of the WLFI Wallet team. Aave founder Stani.eth has spoken on behalf of Aave officially, while the WLFI team has yet to respond through official channels. BlockBeats will continue to follow the developments of this event.