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DeFi Lending Protocol

AAVE Token — Governance, Staking & Revenue Share

AAVE is the governance and utility token of the Aave protocol — stake to earn 100% of fees, vote on protocol changes, and access GHO discounts.

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aave.protocol Live
Total TVL$14.5B
Cumul. Deposits$71T+
Networks12+
Security Audits15+
AAVE Token16M max supply
Fee Share100% to stakers
Current VersionAave v4 (2026)
Flash Loans0.09% fee
About

AAVE Token

AAVE is an ERC-20 token with a maximum supply of 16 million. It serves three main functions: governance voting (each AAVE = one vote on protocol proposals), Safety Module staking (earn 100% of protocol revenue since April 2026), and GHO utility (stakers get a discounted borrow rate on GHO). As of June 2026, approximately 15.18 million AAVE are in circulation (94.87% of max supply). The AAVE token trades on all major exchanges and has a market cap of approximately $1.34 billion at recent prices.

// protocol.stats
Protocol TypeNon-Custodial Lending
TVL$14.5B
Cumul. Volume$71T+
Networks12+
Supported Assets30+
Stablecoin APY3-8% variable
AAVE Staking100% fee share
Flash Loan Fee0.09%
Versionv4 (2026)
GovernanceAAVE DAO
Features

Why Use Aave?

The most battle-tested DeFi lending protocol — supply, borrow, flash loans, GHO, and now 100% fee sharing for AAVE stakers.

[01]
🗳️
Governance
Vote on every Aave protocol decision — risk parameters, new assets, fee allocation, upgrades.
[02]
🛡️
Safety Module Staking
Earn 100% of Aave protocol revenue — the most significant AAVE utility since April 2026.
[03]
💎
GHO Discount
AAVE stakers receive reduced GHO borrow rates — direct cost reduction for Aave borrowers.
[04]
📊
Supply Cap
16 million max supply — 15.18M in circulation (94.87%) as of June 2026.
[05]
💰
Market Cap
~$1.34B at recent prices (~$88/AAVE in May 2026).
[06]
🔄
Buybacks
Protocol fees can fund AAVE buybacks as directed by governance.
Guide

How to Use AAVE Token

Step-by-step from wallet connection to earning yield and staking AAVE.

01

Understand AAVE\'s Three Uses

Governance (vote), staking (earn fees), and GHO discount (cheaper borrowing). You can do all three simultaneously with the same tokens.

02

Acquire AAVE

Buy on Coinbase, Binance, Kraken, or Uniswap. Withdraw to self-custody wallet on Ethereum.

03

Stake for Yield

Deposit in the Safety Module at app.aave.com/staking to earn 100% of protocol fees.

04

Vote in Governance

With AAVE or stkAAVE, vote on Aave governance proposals at governance.aave.com. Each token = one vote.

05

Mint GHO at Discount

With AAVE staked, your GHO borrow rate is discounted — practical cost savings for Aave borrowers.

Start Earning on Aave Today

Join $14.5B in TVL across 12+ networks. Supply assets to earn yield or stake AAVE for 100% of protocol fees.

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FAQ

Frequently Asked Questions

Everything about AAVE Token.

What is the AAVE token used for?
+
AAVE has three main uses: (1) Governance voting — AAVE holders vote on all protocol decisions. (2) Safety Module staking — earn 100% of Aave protocol revenue. (3) GHO discount — stakers get reduced rates on Aave\'s native stablecoin borrowing.
What is AAVE\'s token supply?
+
AAVE has a maximum supply of 16,000,000 tokens. As of June 2026, approximately 15.18 million (94.87%) are in circulation. The small remaining supply is held in the Aave Ecosystem Reserve for future grants and protocol development.
What was the LEND to AAVE migration?
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Aave launched as ETHLend with the LEND token. In September 2020, LEND holders migrated to AAVE at a ratio of 100 LEND = 1 AAVE. This migration reduced supply by 100x while maintaining holder proportions. LEND is now defunct.
What is the AAVE all-time high?
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AAVE reached its all-time high of $661.69 on May 18, 2021. At recent prices (~$88 in May 2026), AAVE is approximately 87% below its all-time high — reflecting the broader DeFi market decline.
Will AAVE token increase in value?
+
This is speculative and not investment advice. The April 2026 fee redirect meaningfully improved AAVE tokenomics by creating real revenue-backed yield for stakers. Whether this translates to price appreciation depends on market conditions and protocol growth.
Reviews

What Users Say

AAVE Holder
★★★★☆

"The April 2026 fee redirect is the inflection point for AAVE tokenomics. Moving from inflationary rewards to real protocol revenue sharing is what a mature DeFi token should look like."

Tokenomics Analyst
★★★★☆

"Three utilities in one token (governance + safety module + GHO) is well-designed. The 94.87% circulating supply ratio minimizes future dilution risk significantly."

Long-Term Investor
★★★★★

"Bought AAVE at various prices over 2023-2026 and staked throughout. The Safety Module APY from real revenue is now genuinely competitive with other yield sources. Patience paid off."

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