随着协议推进其回购计划，AAVE（AAVE）价格上涨

艾夫（Aave）是分散融资的第二大协议

Aave, the second-largest protocol in decentralised finance, jumped this week after a prominent contributor advanced a proposed buyback program directing a portion of the protocol’s revenue to certain investors.

艾夫（Aave）是权力下放财务的第二大协议，本周在著名贡献者提出了一个提议的回购计划后，将协议收入的一部分推向了某些投资者。

Should the proposal succeed, a new finance committee would be charged with buying $1 million in Aave tokens each week for a six-month period.

如果提案成功，新的财政委员会将被控每周在六个月内购买100万美元的ave代币。

Those tokens would be used to reward users who lock up, or stake, their Aave tokens.

这些令牌将用于奖励锁定或赌注的用户的隔离令牌。

‘Aavenomics’

'aavenomics'

Aave’s token has gained 20% since Aave Chan Initiative on Tuesday advanced the buyback program — part of a major update dubbed “Aavenomics.”

自Aave Chan倡议周二提出了回购计划以来，Aave的代币已上涨了20％，这是“ Aavenomics”一项重大更新的一部分。

Aave Chan Initiative is a major delegate in Aave DAO, the digital cooperative that controls the Aave lending protocol.

Aave Chan Initiative是Aave Dao的主要代表，Aave Dao是控制AAVE贷款协议的数字合作社。

After soliciting feedback, the proposal can be posted on the blockchain for a final vote.

在征求反馈之后，该提案可以发布在区块链上进行最终投票。

The proposal comes amid a broader effort to push established DeFi protocols to share revenue with tokenholders, bringing so-called governance tokens closer to the company shares to which they’ve long been compared.

该提案是在更广泛的努力中提出的，以推动已建立的DEFI协议与代币持有人共享收入，从而使所谓的治理令牌更接近与他们长期以来比较的公司股票。

Last year, Uniswap’s UNI token jumped 20% after an affiliated foundation said it would let Uniswap DAO members vote on a so-called fee switch that would direct some of the protocol’s revenue to tokenholders who participate in protocol governance.

去年，UNISWAP的UNI代币跃升了20％，此前一个附属基金会表示，它将让UNISWAP DAO成员对所谓的费用转换进行投票，该转换将把一些协议的一些收入指导给参与协议治理的代币持有人。

‘It’s only there as a liquidity sink.'

“只有作为流动性水槽。”

Longtime fee switch proponents hailed the development. But the vote never came to pass.

长期费用转换支持者赞扬了这一发展。但是投票从未实现。

The foundation indefinitely delayed the vote, saying “a stakeholder raised a new issue relating to this work that requires additional diligence on our part to fully vet.”

该基金会无限期地推迟了投票，说：“利益相关者提出了与这项工作有关的新问题，这需要我们对我们的全面审查进行额外的努力。”

CoW Swap, a decentralised exchange on Ethereum, turned on its fee switch in January 2024.

牛交换是以太坊上的分散交换，于2024年1月开启了费用转换。

Aave founder Stani Kulechov called Aavenomics a “Fee Switch on steroids” in a post on X.

AAVE创始人Stani Kulechov在X上的帖子中称Aavenomics称为“类固醇费用”。

Incredible run

令人难以置信的奔跑

Aave has been on an incredible run over the past year.

在过去的一年中，艾夫（Aave）一直在令人难以置信的奔跑。

Since the beginning of 2024, the total value of crypto locked in the lending protocol has tripled to $18 billion. In crypto terms, its rise has been even more impressive: Ether deposited in Aave rose 188% in that span.

自2024年初以来，锁定贷款协议中加密货币的总价值已增加了两倍，达到180亿美元。用加密货币来说，它的上升更加令人印象深刻：在此范围内，以太存放在AAVE中的188％上升了188％。

It has also been among the most profitable crypto businesses, generating almost $500 million in fees over the past year, according to DefiLlama data.

根据Defillama数据，它也是最有利可图的加密货币业务之一，在过去一年中产生了近5亿美元的费用。

As of thursday, the Aave DAO held $244 million in crypto, half of that in the Aave token, according to TokenLogic.

据Tokenlogic称，截至周四，Aave Dao在加密货币中持有2.44亿美元的加密货币，其中一半是在Aave代币中。

Aave Chan Initiative first proposed the Aavenomics update in July 2024. It passed a preliminary vote with nearly unanimous approval.

Aave Chan倡议首先提出了2024年7月的Aavenomics更新。它通过了几乎一致的批准，通过了初步投票。

Having hit several milestones in the months since, Aave is ready to more seriously pursue the update, according to Aave Chan Initiative founder Marc Zeller.

根据Aave Chan Initiative创始人Marc Zeller的说法，此后几个月以来，艾夫（Aave）就已经达到了几个月的里程碑。

“High revenue and high cash reserves put Aave in a comfortable position to initiate the Aavenomics update,” he wrote in the Aave governance forum.

他在AAVE治理论坛上写道：“高收入和高现金储备使AAVE处于舒适的位置，以启动适应性更新。”

“Current market conditions allow Aave to become even more competitive and gain market share.”

“当前的市场状况使AAVE变得更加竞争力并获得市场份额。”

Aavenomics

Aavenomics

A revamp of Aave’s insurance model is perhaps the biggest change in the Aavenomics proposal, according to pseudonymous Aave DAO delegate EzR3aL, the cooperative’s largest.

合作社最大的AAVE AAVE DAO代表EZR3AL的说法，AAVE保险模型的改建可能是Aavenomics提案的最大变化。

In short, rather than using Aave’s eponymous token to cover any bad debt, the protocol will use a combination of assets, including stablecoins from Tether and Circle.

简而言之，该协议不是使用AAVE的同名代币来掩盖任何坏账，而是使用资产组合，包括Tether和Circle的稳定币。

Rather than staking, or locking up, their Aave tokens, users who want to contribute to Aave’s insurance fund can stake a version of Ether; an Aave-issued stablecoin, GHO; or those issued by Tether and Circle. In return, stakers will earn yield on staked tokens.

想要为AAVE的保险基金贡献的用户而不是堆放或锁定，而是可以存储Ether版本； GHO的AAVE签发的稳定币；或系绳和圆圈发行的。作为回报，Stakers将在藏匿的令牌上赚取收益率。

This will make Aave more efficient, according to Zeller. That will leave the DAO more money with which to buy back Aave tokens on secondary markets.

根据Zeller的说法，这将使助手更有效。这将为DAO提供更多的钱，可以回购二级市场的Aave代币。

Worthwhile effort

值得的努力

Purchased Aave tokens will be used to reward Aave stakers, according to Zeller’s proposal.

根据Zeller的提议，购买的AAVE代币将用于奖励Aave Stakers。

EzR3aL said it’s a worthwhile effort, even if Aave staking is no longer used to protect the protocol from bad debt.

EZR3AL表示，即使不再使用Aave Staking来保护该协议免受坏账的影响，这是值得的努力。

“It’s only there as a liquidity sink,” they said of Aave staking should the cooperative approve the update. “Maybe there will be other ways to put it to use.”

他们说：“只有作为流动性下沉。”如果合作社批准更新，他们说。 “也许还有其他方法可以使用它。”

That’s because Aave stakers are some of the protocol’s most loyal users, EzR3aL said.

Ezr3al说，这是因为Aave Stakers是该协议最忠实的用户中的一些。

After six months, a subsequent vote can increase the rate of Aave’s buyback program, according to Zeller.

Zeller表示，六个月后，随后的投票可以提高AAVE的回购计划的比率。

A new Aave Finance Committee “will size these buybacks according to the protocol’s overall budget, with the objective to eventually match—and even surpass—all protocol A

一个新的AAVE财务委员会“将根据协议的整体预算来缩小这些回购，目的最终匹配甚至超过所有协议