The drama around $AAVE will blow over soon, and here are three reasons why:
1️⃣ 1.23 billion in bad debts has been mitigated since ARB froze 70 million from hackers (likely to be returned to KELP DAO), leaving just 160 million;
2️⃣ AAVE has set up a donation wallet, and a number of whales have contributed, with many retail traders chipping in as well (plenty of small-time traders donated a few bucks), and currently, total fundraising has surpassed 160 million (including pledged but unrealized contributions), which is enough to cover the losses;
3️⃣ $AAVE is a cornerstone of DEFI, its role is crucial for the whole crypto space, so many big players won’t let it fail—at least not now. That's why numerous projects and whales are actively stepping in to rescue it, helping to restore confidence.
💴 Major contributors to this donation:
Mantle: 30,000 ETH
Aave DAO: 25,000 ETH
Stani Kulechov: 5,000 ETH
EtherFi: 5,000 ETH
Lido: 2,500 ETH
Golem Foundation + Project: 1,000 ETH
Emilio Frangella: 500 ETH
BGD Labs + Ernesto: 350 ETH
🔸 Additionally, many retail traders are speculating that the donors might receive some airdrops in the future, which is why there’s been a surge of smaller donations in the range of a few dollars.
🔸 Donation watch address: https://defiunited.world/
1️⃣ 1.23 billion in bad debts has been mitigated since ARB froze 70 million from hackers (likely to be returned to KELP DAO), leaving just 160 million;
2️⃣ AAVE has set up a donation wallet, and a number of whales have contributed, with many retail traders chipping in as well (plenty of small-time traders donated a few bucks), and currently, total fundraising has surpassed 160 million (including pledged but unrealized contributions), which is enough to cover the losses;
3️⃣ $AAVE is a cornerstone of DEFI, its role is crucial for the whole crypto space, so many big players won’t let it fail—at least not now. That's why numerous projects and whales are actively stepping in to rescue it, helping to restore confidence.
💴 Major contributors to this donation:
Mantle: 30,000 ETH
Aave DAO: 25,000 ETH
Stani Kulechov: 5,000 ETH
EtherFi: 5,000 ETH
Lido: 2,500 ETH
Golem Foundation + Project: 1,000 ETH
Emilio Frangella: 500 ETH
BGD Labs + Ernesto: 350 ETH
🔸 Additionally, many retail traders are speculating that the donors might receive some airdrops in the future, which is why there’s been a surge of smaller donations in the range of a few dollars.
🔸 Donation watch address: https://defiunited.world/