Aave DAO approved a proposal to enable a $4 million buyback of AAVE.

According to Wu, $Aave $DAO has approved a proposal through $Aave governance to allocate 4 million aEthUSDT from the $Aave Collector contract to the $Aave Financial Committee ($AFC) for the launch of the first phase of the $AAVE buyback program. This program is part of Aavenomics, aimed at buying back $AAVE from the open market and allocating it to the ecosystem reserve, with an expected duration of one month. The complete plan aims to buy back 1 million $AAVE weekly over a period of 6 months, and this authorization is a preliminary step, with the buyback subject to adjustment or cancellation through new voting at any time.