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AAVE DAO has approved a $4 million token buyback program, marking the first phase of its updated tokenomics strategy. The initiative, backed by 99.63% of voters, aims to acquire tokens from the secondary market over six months. The Aave Finance Committee will oversee the buyback, starting with $1 million weekly.
- AAVE DAO's $4M buyback program will run for six months, starting with $1M weekly purchases from the secondary market.
- The initiative aligns with the Aavenomics Part One Proposal and aims to strengthen the Ecosystem Reserve.
- Aave is also developing the Aave Swapper contract and has proposed other upgrades like LEND Deprecation and Umbrella.
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