TechFlow reports on March 4 that, according to official announcements, the Aave community has formally proposed an updated version of the Aavenomics implementation plan, described as a "supercharged fee switch." The proposal introduces an "Anti-GHO" mechanism—a non-transferable ERC20 token linearly generated by AAVE and StkBPT stakers, which can offset GHO debt on a 1:1 basis or be converted into StkGHO.
The proposal outlines the establishment of the Aave Financial Committee (AFC), responsible for managing assets held in Aave's revenue contracts and defining Umbrella liquidity target ratios and budgets. Additionally, Aave will launch a token buyback program, initially repurchasing AAVE tokens at a rate of $1 million per week from the secondary market and allocating them to the ecosystem reserve. The proposal also calls for the shutdown of the LEND migration contract, which has been operational for nearly five years, redirecting the remaining approximately 320,000 AAVE tokens (worth around $65 million) to the ecosystem reserve.
The proposal notes that although declining market interest rates have impacted Aave DAO revenues, the protocol continues to maintain absolute dominance in lending protocol income within the industry. Since the approval of the Aavenomics proposal, the Aave DAO's "cash" position has grown by 115%, reaching $115 million. Furthermore, Chainlink-powered SVR is expected to generate up to $10 million in additional annual revenue for the protocol.
The proposal recommends allocating 50% of GHO revenues toward generating Anti-GHO tokens, distributed at a ratio of 80% to StkAAVE holders and 20% to StkBPT holders. With the current GHO supply at 186 million, an annual yield of 6.45%, and annual revenue of approximately $12 million, this would generate 6 million Anti-GHO tokens annually for Aave stakers.
