Gate.io News bot, according to the news, the Aave community has passed a proposal to grant the Aave Finance Committee (AFC) $4 million worth of aEthUSDT equivalent to repurchase rights. The funds will be used to buy back AAVE tokens from the market and deposit into the Ecological Reserve. As part of the Aavenomics upgrade, this buyback plan sets a weekly cap of $1 million, with a duration of 6 months. In this initial execution phase, the buyback will be carried out through the secondary market or market makers, and the authorized fund amount can be adjusted or revoked as needed. Source: Wu Says

Gate.io News bot message, according to the Aave governance proposal, the Aave DAO has approved a proposal to allocate $4 million aEthUSDT from the Aave Collector contract to the Aave Financial Committee (AFC). These funds will be used to implement the first phase of the AAVE buyback plan. The buyback plan, as part of Aavenomics, aims to repurchase AAVE from the open market and allocate it to the ecological reserve, with the first phase expected to last one month. The overall plan sets a target of repurchasing 1 million USD worth of AAVE weekly over a period of 6 months, and the 4 million USD authorization serves as the initial step for the plan. It is worth noting that the buyback process can be adjusted or revoked through new voting. Source: Wu Shuo