AAVE Price Drops 10% Amid Governance Tensions and Fee Redirection Concerns

The price of AAVE has dropped by 10.5% within the last 24 hours due to governance tensions within the DeFi protocol.

AAVE Price Crash Details

  • AAVE's price fell from $178 to $159 during Asian trading hours on Dec. 22.
  • Daily trading volume increased by 232%, reaching over $600 million.
  • Concerns arose that Aave Labs redirected millions in swap fees from the DAO treasury without token holder approval.
  • The change from ParaSwap to CowSwap integration potentially diverted $10 million in annual revenue from the DAO.

Governance and Stani Kulechov’s Response

  • Stani Kulechov clarified that frontend revenue is separate from core protocol revenue.
  • He proposed a community vote to transfer key brand assets to the Aave DAO.
  • This includes website domains and social media accounts.

Bitcoin Hyper (HYPER) Presale Information

  • The Layer-2 network for Bitcoin addresses scalability issues.
  • $29.6 million raised in presale with a token price of $0.013465.
  • Offers 39% staking APY and aims to power a Bitcoin-native DeFi ecosystem.