Token Economics
Reference protocol
ETHDEFIOct 2020design 0x99a8…60ceVerified

AAVE $AAVE

Migrated from LEND at 100:1. Existing token holders carried over their distribution; only the 18.75% ecosystem reserve was newly minted. Demonstrates a credible token redenomination.

Total supply

16M AAVE

fixed at launch

TGE circulating

81.3%

18.8% locked

Allocations

2

distinct line items

Launch

Oct 2020

Ethereum

Distribution
LEND MIGRATION81.3%ECOSYSTEM RESERVE18.8%
Schedule of allocations
  • 1
    LEND MIGRATION

    Existing LEND holders migrated 1:100 — circulating from day one. Made up of original 2017 ICO + secondary holders.

    81.25%
    100% TGE
  • 2
    Locked at TGEECOSYSTEM RESERVE

    Newly-minted 3M AAVE held by governance. Funds Safety Module rewards, grants, partnerships.

    18.75%
    48 MO LIN
Key takeaway

Low total supply (16M) + an explicit ecosystem reserve makes per-token economics legible and keeps distribution power with governance.

Design notes
  • AAVE WAS A REDENOMINATION OF LEND — TEAM/INVESTORS WERE ALREADY IN THE 81.25%.
  • SAFETY MODULE STAKERS EARN AAVE FROM THE ECOSYSTEM RESERVE.staking secures the protocol
  • GOVERNANCE CAN MINT MORE AAVE BY VOTE — SUPPLY IS NOT FIXED FOREVER.
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