CoinDesk
Aave and the Solana ecosystem led a broad crypto rebound on Friday as Bitcoin stabilized near $60,000 after a sharp sell-off. AAVE jumped 19% after CoinDesk reported potential strategic investment in the protocol by Kraken's parent, adding to founder Stani Kulechov's pushback against the idea that Aave assets could be sold at a steep discount.
Kulechov, writing on X, reaffirmed that all protocol revenue flows to the Aave DAO and ultimately to AAVE holders under the protocol's recently adopted "Aave Will Win" framework. He pegged annualized protocol revenue at roughly $134 million and teased "Aavenomics 3.0," an upcoming overhaul that would introduce an automated buyback mechanism for the token.
Solana outperformed alongside Aave, with SOL climbing nearly 10% as tokenized stock trading on the network topped $2.5 billion in weekly volume, roughly ten times the level recorded a month earlier, according to RWA.xyz. That run gave Solana more than 80% share of tokenized equity trading across all blockchains, lifting Solana-based protocols including Jito, Raydium, Meteora, and Kamino Finance.
Why it matters
The bid is rotating away from a Bitcoin-only tape and back into specific protocol-level theses. Aave's move is a vote on revenue capture: if Aavenomics 3.0 codifies an automated buyback funded by the $134M annualized revenue stream, AAVE becomes a cash-flow claim on the largest non-Algorand lending market, not just a governance token. The Kraken-parent investment talk adds a strategic-buyer angle that compresses the discount narrative.
Solana's tokenized-stock volume is the more structural read. A jump from roughly $250M to $2.5B in a month, taking share above 80% of all on-chain equity trading, puts SOL on the right side of the real-world-asset (RWA) trade that has so far been dominated by Ethereum-centric venues. The flywheel is observable: more equity volume on Solana, more flow through Solana DEX and perps infrastructure, more demand for SOL as gas and collateral.
Frequently asked questions
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Why did Aave's AAVE token jump 19% on Friday?
AAVE rose after CoinDesk reported potential strategic investment by Kraken's parent, and after founder Stani Kulechov reaffirmed on X that Aave's roughly $134M annualized protocol revenue flows to AAVE holders under the new framework, with an automated buyback mechanism teased in an upcoming Aavenomics 3.0 overhaul.
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What is Aavenomics 3.0?
Aavenomics 3.0 is an upcoming overhaul to AAVE's token design teased by founder Stani Kulechov. It would introduce an automated buyback mechanism funded by protocol revenue that currently runs at an annualized $134M.
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Why did Solana and its ecosystem tokens outperform?
Solana rose nearly 10% as tokenized stock trading on the network topped $2.5B in weekly volume, roughly ten times the level a month earlier, giving Solana over 80% share of all on-chain tokenized equity trading, per RWA.xyz. The activity lifted Jito, Raydium, Meteora, and Kamino Finance.
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How much of the tokenized-stock market does Solana control?
Solana accounts for more than 80% of all tokenized equity trading across blockchains, with weekly volume reaching $2.5B, roughly ten times the level recorded a month earlier, according to RWA.xyz.
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Where did Bitcoin trade during the rebound?
Bitcoin stabilized around $60,000 on Friday after a sharp sell-off, providing a calm backdrop while capital rotated selectively into AAVE, SOL, and Solana-based DeFi infrastructure tokens.
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