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Payward and clients buy undisclosed AAVE amount

Payward and clients bought an undisclosed amount of AAVE through an affiliated fund, adding a token position as the Kraken parent builds asset management.

Uruguay Can Editorial

Payward and clients buy undisclosed AAVE amount

Payward said on Nov. 5 that its affiliated fund and clients had acquired AAVE, with the amount still undisclosed. According to Aave’s announcement, the purchase was made on the secondary market, so the buyers acquired existing tokens rather than buying directly from Aave.

That makes this a token purchase, not a disclosed purchase of equity in Aave Group. The announcement says Payward may acquire more AAVE in the future, but gives no size or timing for any further buys. For you, the key distinction is that AAVE holders can vote on changes to the network and its treasury, but the announcement does not say how much voting power the new holdings carry.

How did Payward and its clients buy AAVE?

The announcement names Digital Asset Special Investments I, LP, a Payward-affiliated investment fund, and the fund’s clients as buyers. It confirms the route and the parties, while leaving the amount and allocation between them undisclosed:

  1. The affiliated fund and its clients acquired AAVE.
  2. They bought the tokens through secondary-market purchases.
  3. Payward says it may make additional acquisitions, without specifying a schedule.

Because the purchases took place on the market, they do not establish that Aave sold new tokens to Payward or its clients. Nor does the announcement quantify the buyers’ resulting share of AAVE’s supply or their influence in governance.

Does the purchase include an equity stake in Aave?

No equity purchase was disclosed. CoinDesk’s report says earlier discussions had included a proposal involving 250,000 AAVE and a 15% common equity stake in Aave Group at a $385 million valuation; the Nov. 5 announcement mentions only token purchases.

Payward described the investment as part of its asset management business, which connects investors with digital assets, structured yield and tokenized financial instruments. Aave’s announcement describes the network as a lending and borrowing protocol, where users supply digital assets and borrow against them. The confirmed development, then, is a client-linked AAVE position bought on the open market, with any further purchases or collaboration still unspecified.

Sources