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Aave Community Proposes $50 Million AAVE Token Buyback Annually
BlockBeats News, October 22nd: The Aave community has initiated a proposal suggesting the institutionalization of AAVE's long-term buyback plan, supported by protocol revenue. This plan will establish an annual budget of $50 million, utilizing flexible execution parameters to allow the Aave DAO to strategically deploy funds for ongoing buybacks and accumulation of AAVE tokens, thus extending the existing buyback initiative indefinitely.
Plan Structure: Annual Budget: $50,000,000; Responsible Parties: Tokenlogic and the Aave Finance Committee (AFC); Weekly Execution Range: Weekly purchases ranging from $250,000 to $1,750,000 worth of AAVE.
The AFC will have the authority to adjust the weekly buyback amount within a 75% fluctuation range, based on factors including market conditions and liquidity, token price volatility, strategic timing considerations, and the availability of protocol revenue.
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