AAVE soars 13% as buyback proposal passes among tokenholders

Aave’s tokenholders approved a governance proposal to start buying back the decentralized finance (DeFi) protocol’s governance token, AAVE, as part of a broader tokenomics overhaul, Aave said on April 9.  The proposal — which was approved by more than 99% of AAVE tokenholders — permits the protocol to purchase $4 million in AAVE (AAVE) tokens, enough for one month of buybacks.  The move is a “first step” toward a broader plan to repurchase $1 million AAVE tokens weekly for six months.  It is also the latest instance of DeFi protocols implementing buyback mechanisms in response to tokenholder demands source: https://cointelegraph.com/news/aave-buyback-proposal-passes-among-holders?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound