Aave launches token repurchase mechanism, with a first month repurchase budget of $4 million

According to BlockBeats, on April 9th, according to the official governance page of Aave, the Aave DAO's plan to authorize $4 million worth of aEthUSDT to the Finance Committee (AFC) for the first phase of the Aavenomics repurchase and distribution program was approved. The plan aims to repurchase AAVE from the public market and distribute it to ecosystem reserves, thereby enhancing governance incentives and protocol health. This initial authorization will support repurchase operations for approximately one month, while reserving buffer time for future deployment of new Aave Swapper contracts. The complete plan is expected to continue advancing at a pace of up to $1 million per week within six months. This proposal enables AFC to begin the first phase of the repurchase plan, approving $4 million in aEthUSDT for approximately one month of AAVE repurchase. By setting authorization limits instead of direct transfers, the proposal ensures the safety of funds and enables AFC to efficiently execute repurchases within the scope of governance approval, which will help steadily promote the implementation of Aavenomics.