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AAVE: Revenue Now Buys the Token — DeFi's Biggest Book at 3.5x Fees
Two governance facts changed Aave this year, and the market still prices it like the same old DeFi blue chip. In April, the "Aave Will Win" proposal passed with 75% approval and ended a years-long argument: one hundred percent of protocol product revenue now flows to the DAO treasury. The famous fee switch — actually flipped. Then this month Aavenomics 3.0 went live: automated, immutable buybacks
Market-make AAVE/USDC concentrated around spot, 0.3% fee on every fill. Note this is an Aqua maker position — it does NOT deposit into Aave v3 and does not earn the supply APY described in the brief above. Dock anytime.
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Your wallet becomes the maker of this strategy instance on 1inch Aqua. Funds stay in your wallet until a swap matches; dock anytime to exit.
Base mainnet — this spends real funds.Shipping transfers the amounts below into Aqua, where the fund manager's strategy trades them against takers. You can end up with a different mix of the two tokens than you put in, worth more or less than holding them. Dock any time to stop trading and take back whatever the position holds. A close-mandate lets the fund manager close your position and nothing else — it cannot move, spend or approve your tokens, it expires, and you can revoke it.
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Program you are backing — the strategy, and the exact bytes
This is the exact on-chain strategy your wallet runs as maker: a concentrated market-making range on token A/token B. It quotes both sides between $73.70 and $111, earns a 0.30% fee on every fill, and sits idle outside that band — your funds stay in your own wallet until a swap matches.
Fee0.30% charged on each fill and credited to your position.Concentrated rangeYour price bounds — $73.70–$111 at a 0.30% fee tier — the market-making logic; the position only quotes inside this band.SwapThe primitive it fills against when a taker matches your quote.
Raw program — verify on-chain (74B template + your salt)
This template is shared by every backer of the round. At ship time your wallet appends one SALT instruction (32 random bytes); the strategy hash recorded on-chain is keccak256 of your ABI-encoded order (your address + the salted program), byte-for-byte checkable against your ship() calldata.
0x1504002dc6c01240000000000000000000000000000000000000000000000000000007ced226c0f60000000000000000000000000000000000000000000000000000098fef5761f11100- FLAT_FEE (0x15, 4B) 0x002dc6c0
- XYC_CONCENTRATE (0x12, 64B) 0x000000000000000000000000000000000000000000000000000007ced226c0f60000000000000000000000000000000000000000000000000000098fef5761f1
- XYC_SWAP (0x11, 0B)