Feeds Articles

「Aave to Receive 7% of WLFI Total Token Supply」 Sparks Ongoing Dispute, Both Sides Stick to Their Guns with No Resolution

5 hours ago

August 24th witnessed a disagreement between the Aave official and the WLFI team regarding "Aave will receive 7% of the WLFI total token supply," which triggered a significant price fluctuation of the AAVE token. The timeline of this event is as follows: On December 6th, 2024, the WLFI team proposed "Launching Aave V3 Instance on the Ethereum Mainnet," and it was passed on December 13th. According to the proposal, as a lending ecosystem partner of WLFI, Aave will adopt the same reserve factor mechanism in this Aave v3 instance as the main Aave instance. AaveDAO will receive 20% of the protocol fees generated by the WLFI Aave v3 instance and will receive approximately 7% of the total WLFI token supply for participating in future WLFI governance processes, liquidity mining, and driving the decentralization of the WLFI platform. Last evening at 8:30 PM, Aave founder Stani.eth responded to doubts about "Is the WLFI partnership with AAVE still valid? Are they really building on Aave? There are many different rumors" by stating that the protocol is still valid. He emphasized that "at the current price, the Aave Treasury will receive WLFI worth $2.5 billion, making it one of the biggest winners in this cycle." He called it the art of the deal, and AAVE subsequently surged to touch $385. Last evening at 10:32 PM, a purported member of the WLFI Wallet team, Dylan_0x (@0xDylan_), posted denying the association with the proposal of "Aave receiving 7% of WLFI total token supply," causing AAVE to temporarily drop by more than 5%. Early this morning at 12:13 AM, according to crypto media Wu Shuo, the WLFI team stated that the news of "Aave receiving 7% of the total WLFI token supply" is false and a piece of fake news. Subsequently, Aave founder Stani.eth responded below his tweet that the proposal created by the WLFI team has been voted on and approved by WLFI on the Aave DAO, providing a link to the proposal. BlockBeats Note: This matter currently has no conclusion, and there is no 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 the Aave official, and the WLFI team has not responded through an official channel. BlockBeats will continue to track the progress of this event.

Add to Favorites Download image Share x Copy link

Relevant content

Binance Copy Trading Launches Customizable Copy Mode Size

On August 24th, as per official information, Binance Futures copy trading users are now able to customize their copy trading position mode. The new features encompass: - Only replicate when the entry price is more favorable; - Replicate all existing positions; - Only replicate new positions. This update is being progressively rolled out on the website and app and will be fully implemented in the coming days.

5 minutes ago

许正宇: Hong Kong Stablecoin Offers No Speculative Opportunities, Aims to Enhance Economic Efficiency

August 24th. According to Radio Television Hong Kong, Christopher Hui, the Secretary for Financial Services and the Treasury of Hong Kong, stated that the positioning of Hong Kong's stablecoin is distinct. It is designed as a means of settlement and is another form of legal tender, with no speculative elements. He cautioned the public to be careful. Hui further mentioned that the cost of payment through the banking system can reach as high as 3%, while the cost of using a stablecoin is expected to be as low as 1%, which can help reduce cross-border payment costs and enhance economic efficiency.

5 minutes ago

Jup Studio's ecosystem meme coin Uranus has surpassed a market capitalization of $52 million, with a 12% price increase in the last 24 hours.

On August 24th, according to the GMGN market data, the ecosystem meme coin Uranus of Jup Studio has a market capitalization exceeding 52 million US dollars. It has seen a 12% increase in the past 24 hours and a 24-hour trading volume of over 6.4 million US dollars. BlockBeats reminds users that the prices of meme coins are highly volatile, and users should invest cautiously.

5 minutes ago

Ethereum PoS Exit Queue Continues at High Levels, with Approximately $41.6 Billion USD worth of ETH Queued for Exit

On August 24th, based on the data from the Validator Queue tracking website ValidatorQueue, the current exit queue of the Ethereum PoS network is temporarily reported to be 870.3k ETH and remains at a high level. Calculated at the current price, approximately $41.6 billion worth of ETH is exiting the PoS network, and the withdrawal delay has been extended to 15 days and 3 hours. Meanwhile, the staking demand for newly activated validators has slightly decreased. Today's admission queue is 143k ETH, worth about $683 million, with a current queuing time of 2 days and 12 hours.

5 minutes ago

Opinion: ETH Transaction Share Reaches This Cycle's Peak, ETH/BTC Exchange Rate Still Undervalued

August 24th. In a post, on-chain data analyst Murphy stated that the transaction platform traffic share of ETH is calculated by taking the ratio of the USD value of ETH and BTC flowing in and out of all trading platforms, which represents the percentage of ETH. This is also a key indicator for measuring which of the two mainstream crypto assets, ETH or BTC, is receiving more attention or support from funds. On August 15th, ETH's traffic share reached as high as 48% (as indicated by the red curve in the chart), marking the highest point in this cycle so far. This ratio means that nearly half of the funds flowing in and out of the trading platforms are in ETH, almost on an equal footing with BTC, indirectly confirming the current market's high interest in ETH. If we compare nearly 10 years of this data with the ETH/BTC exchange rate curve (as shown by the blue curve in the chart), we can observe that the red and blue lines are highly synchronized. The logic is: when more funds begin to

5 minutes ago

Analysis: Interest Rate Cut Will Exacerbate Historic Wealth Disparity, Asset Holders Will Outrun Inflation

On August 24th, The Kobeissi Letter issued its most recent market analysis, indicating that the anticipated rate cut will not be as forceful as what Trump anticipates, amounting to 300 basis points. The last time the Fed cut rates due to surging inflation was in the 1970s, leading to a continuous and historical widening of the wealth gap. In 1990, the wealth gap between the richest 1% and the poorest 50% of the population was $3 trillion, and now it is $40 trillion. Currently, the wealthiest 0.1% of the US population holds wealth that is 5.5 times that of the poorest 50%. In fact, the Fed has truly "fallen behind" in the current global rate-cutting cycle. Central banks around the world cut rates a total of 15 times in May alone, which is the fastest monthly rate-cut pace so far this year and one of the largest rate-cutting waves of this century, firmly setting the stage for the Fed's first rate cut to occur just one month later in 2025. Additionally, Fed Chairman Powell has 8 months r

5 minutes ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!