Aave Community Proposes $50 Million AAVE Token Buyback Annually

BlockBeats News, October 22nd: The Aave community has initiated a proposal suggesting the institutionalization of AAVE's long-term buyback plan, supported by protocol revenue. This plan will establish an annual budget of $50 million, utilizing flexible execution parameters to allow the Aave DAO to strategically deploy funds for ongoing buybacks and accumulation of AAVE tokens, thus extending the existing buyback initiative indefinitely.

Plan Structure: Annual Budget: $50,000,000; Responsible Parties: Tokenlogic and the Aave Finance Committee (AFC); Weekly Execution Range: Weekly purchases ranging from $250,000 to $1,750,000 worth of AAVE.

The AFC will have the authority to adjust the weekly buyback amount within a 75% fluctuation range, based on factors including market conditions and liquidity, token price volatility, strategic timing considerations, and the availability of protocol revenue.