The Aave community approved a $4 million buyback plan.

Gate.io News bot message: According to the news, the Aave community has approved a proposal granting the Aave Financial Committee (AFC) the authority to repurchase up to 4 million USD equivalent of aEthUSDT. The funds will be used to repurchase AAVE tokens from the market and deposit them into the ecological reserve.

As part of the Aavenomics upgrade, this buyback plan sets a weekly limit of 1 million USD, with an execution period of 6 months. In this initial execution phase, the buyback will be completed through the secondary market or market makers, and the authorized capital amount can be adjusted or revoked as needed.

Source: Wu Says