WLFI Wallet Team Member Denies 7% Token Allocation to Aave
A suspected WLFI Wallet team member, known as Dylan_0x, took to X to deny rumors that Aave would receive 7% of WLFI’s total token supply under a governance proposal. The claim had driven bullish sentiment for AAVE, as traders anticipated both the token allocation and 20% of protocol fees from Aave v3. Crypto influencer @Luyaoyuan1 initially supported the narrative, citing AAVE/ETH price movements and prior WLFI announcements, but now warns of potential defaults, referencing SPK’s past reduction from 10% expected fees to only 1%. With Dylan_0x’s identity unverified, the rebuttal highlights the risk of unconfirmed disclosures. Traders should await official WLFI communications before adjusting positions. The denial removes a key bullish catalyst for Aave and may temper AAVE’s near-term price momentum.
Bearish
The denial removes a key bullish catalyst for Aave by confirming that 7% of WLFI tokens will not be allocated as previously rumored. Similar past events—such as SPK’s failure to deliver on a promised fee share—triggered sell-offs and eroded investor trust. In the short term, AAVE may face downward pressure as traders adjust positions and reprice the token without the expected supply boost or protocol fee revenue. Long term, the market may stabilize once official governance details emerge, but reputational damage could weigh on future WLFI and Aave collaboration narratives.