Aave

Explore Aave (AAVE) token rights, holder benefits, governance power, and revenue distribution on DefiLlama.

Aave (AAVE) Token Rights & Governance

Previously a $50M annual budget for permanent AAVE buybacks was funded by protocol revenue, plus stkAAVE staking yield from the Safety Module. According to the Aave Will Win framework, AAVE holders own the brand, users & integrations of Aave and revenue is directed to the DAO. Buybacks were paused in April 2026

Governance includes protocol parameters, treasury management, upgrades, and onchain revenue decisions. AAVE, stkAAVE, and aAAVE all carry voting power. Two community-elected 5-of-9 Guardian multisigs exist: the Protocol Emergency Guardian can pause markets, and the Governance Emergency Guardian can veto malicious proposals. Delegated Steward roles handle risk parameters and treasury operations within governance-set boundaries. The Aave Will Win framework establishes a community-protected vehicle to independently govern Aave's brand assets and IP on behalf of token holders.

AAVE is the governance and utility token of Aave, enabling holders to propose and vote on protocol upgrades, risk parameters, and treasury decisions, while staking in the Safety Module provides backstop security against shortfalls and earns incentives.