Aave DAO proposes on the allocation of AAVE buybacks

ChainCatcher message, Aave DAO has passed a proposal to initiate the AAVE buyback and distribution plan. The proposal approves the allocation of specific aEthUSDT from the Aave Collector contract to the Aave Financial Committee (AFC), enabling the committee to initiate the AAVE buyback as part of the implementation of Aavenomics.

This preliminary proposal allows the AFC to begin executing the first phase of the buyback plan, approving 4 million dollars' worth of aEthUSDT for approximately one month of AAVE buybacks. The goal of the complete plan is to buy back 1 million dollars weekly over a six-month period.