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- 🚨 Gate Alpha Ambassador Recruitment is Now Open!
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- 📢 Gate has released its latest Proof of Reserves report!
As of July 11, 2025:
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Committed to transparency and user fund security.
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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Remember the thrill of opening your first account, or the Gate merch that’s been part of your daily life?
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Aave DAO's first phase proposal for the $4 million AAVE buyback plan
Gate.io News bot message, according to the Aave governance proposal, the Aave DAO has approved a proposal to allocate 4 million aEthUSDT from the Aave Collector contract to the Aave Financial Committee (AFC). These funds will be used to execute the first phase of the AAVE buyback plan.
This repurchase plan is part of Aavenomics, which aims to buy back AAVE from the open market and allocate it to the ecological reserve. The first phase is expected to last for one month. The overall plan sets a target of repurchasing 1 million USD of AAVE each week over a period of 6 months. This authorization of 4 million USD is the initial step of the plan. It is worth noting that the repurchase process can be adjusted or revoked through new voting.
Source: Wu Says