Gate News message, April 20, according to Gate market data. As of the time of writing, AAVE (Aave) is trading at $92.32. Over the past 24 hours, it is down 6.53%, with a high of $99.17 and a low of $88.71. The 24-hour trading volume is $16.9544 million. The current market cap is approximately $140.1 million. Aave is an open-source decentralized lending protocol that provides deposit and borrowing services for users. The deposit interest rates for depositors and the loan interest rates for borrowers are calculated algorithmically based on the platform’s borrowing amount and deposit amount. The platform also uses Chainlink oracles to ensure fairness in the collateral price. AAVE’s recent important news: 1️⃣ **Kelp DAO cross-chain bridge hacked, triggering a liquidity crisis** The hacker exploited a LayerZero cross-chain bridge vulnerability to steal rsETH worth $291 million, and then used the illegally obtained rsETH to provide collateral and borrow on Aave, causing the utilization rate of Aave’s core lending pool to reach 100%. The incident triggered a chain reaction: Aave’s net withdrawals totaled $6.2 billion, and total deposits fell from $45.8 billion to $35.7 billion. This event directly hit market confidence and is the main reason for the recent decline. 2️⃣ **Multiple institutions and whales panic-selling** After the incident, multiple whale addresses sold AAVE heavily on-chain, including the "smaugvision" address selling 20,015 tokens, the 0xFC5 address selling 20,000 tokens, and the 0xA2E address selling 19,665 tokens—totaling nearly 60,000 tokens. The well-known whale "ThisWillMakeYouLoveAgain" even cut losses and stopped the loss by selling 29,400 AAVE for $2.73 million, with losses exceeding $6 million. Large-scale selling further intensified downward pressure on the market. 3️⃣ **DAO governance approves a large financing plan to support long-term development** The Aave DAO passed the first grant proposal under the Aave Will Win framework with 75% support. Aave Labs will receive $25 million in stablecoins and 75,000 AAVE (about $6.8 million) unlocked linearly over four years. Founder Stani clearly laid out the strategic direction: all product revenues will flow back to the DAO treasury, with the goal of expanding the protocol’s scale from $40 billion to the trillion-level. This financing plan provides a solid foundation for the protocol’s long-term development, but in the short term the market still needs to absorb the impact of the hacker incident. 4️⃣ **Smart money addresses build positions against the trend** On-chain data shows that over the past seven days, approximately $2.9 million worth of AAVE has flowed out of exchanges. Smart money addresses are accumulating AAVE, with their holdings increasing to 359,880 tokens. The top 100 traders saw a net inflow of $2.18 million, and the leading profit-taking wallets maintained their positions without moving, suggesting that institutional investors are optimistic about Aave’s long-term prospects and providing some support for the current price. This information is not investment advice. Please note the risk of market volatility when investing.

The BNB Foundation completed its 35th token burn, destroying 1.569 million BNB and reducing the total supply to approximately 134.8 million BNB. The goal is to lower the supply to 100 million BNB, supporting the ecosystem's long-term health.

Naver issued $1.09 billion in green bonds to fund eco-friendly data centers and ESG initiatives. The investment supports its carbon neutrality goal by 2040 and contributes to South Korea's AI strategy by advancing GPU deployment.

Ondo Finance filed a request with the SEC on April 13, seeking confirmation that recording securities interests on the Ethereum mainnet in a tokenized form is compliant under certain patterns. Ondo believes that this on-chain recording can improve collateral monitoring, optimize processes, and simplify reconciliations, with the goal of operating in coordination with traditional finance.

Gate News message, April 12, Musk’s social app XChat will officially launch on the App Store on April 17. Musk previously said that XChat’s goal is to replace the old Twitter direct message system and build a fully encrypted platform supporting text, file transfers, and audio and video calling.

Flare announced a governance proposal on April 10. The plan is to capture the maximum extractable value (MEV) to the protocol layer through a newly established entity called FIRE, and to repurchase and burn FLR tokens. The proposal includes a three-stage block-building reshaping, along with the FLR annual inflation rate and an annual hard cap reduction, with the goal of optimizing the network’s economic model and improving protocol transparency and security.

Valve is developing an internal artificial intelligence tool called “SteamGPT” to improve customer support efficiency and internal task management. The system includes features to automatically compile player information and provide intelligent summaries of support requests, with the goal of optimizing workflows. At present, it is used only as an internal productivity tool.

DeSci project NanoVita announced on April 9 that it has completed a Series A funding round, with a post-investment valuation of $20 million. The funding amount was not disclosed. This round was participated in by K24 Ventures, LandScape Capital, and WestLabs, with the goal of building open on-chain health research infrastructure.

Cardano launches the Orion Fund in 2026, releasing 50 million ADA and shifting to an investment-driven expansion strategy. The fund size is $80 million, with the goal of activating Bitcoin liquidity, and the overall ecosystem expansion relies on the DeFi sector. At the same time, Cardano’s on-chain TVL target is $3 billion; stablecoin liquidity and real demand are key challenges.

Sui and Foresight News will host a private gathering in Hong Kong Central on April 21, inviting outstanding Chinese-language creators to participate. Adeniyi Abiodun, co-founder of Mysten Labs, will share insights on finance and DeFi to drive Sui’s growth. The event is limited-invite only, with the goal of bringing together key creators in the industry.