Aave launches AAVE buyback plan, with the first phase authorizing 4 million USD aEthUSDT.

According to Wu, the Aave community has authorized a proposal that allows the Aave Financial Committee (AFC) to utilize the equivalent of 4 million USD in aEthUSDT to repurchase AAVE from the market and allocate it to the ecological reserve fund. This repurchase is part of the Aavenomics upgrade, with a goal of repurchasing no more than 1 million USD each week for a duration of 6 months. This is the initial execution phase, and the repurchase operations will be conducted through the Secondary Market or market makers, with funding authorization subject to adjustment or revocation at any time.