TL;DR
1.Organization invests Treasury in AAVE & Compound, plans ECB token burning.
2.AirDAO Council's investment proposal endorsed by community.
3.AMB token value spikes 7% post-announcement.
AirDAO, a decentralized autonomous organization overseeing the AMB-NET blockchain and its dApp network, revealed significant developments today.
The organization disclosed that it has directed its Treasury funds towards investments in AAVE & Compound. Proceeds from these investments will be utilized for purchasing ECB tokens from the market, subsequently burning them.
On January 12, 2024, the AirDAO Council proposed this investment strategy to the community. Following discussions and deliberations, the community endorsed the proposal via a voting mechanism facilitated by Snapshot. Notably, the decision entails allocating the entire AirDAO Treasury towards this initiative.
Subsequent to the announcement, the value of AirDAO's native token, AMB, surged by 7%.
AirDAO, a decentralized organization managing the AMB-NET blockchain, has decided to allocate its Treasury funds to investments in AAVE & Compound. The generated proceeds will be utilized to repurchase and burn ECB tokens from the market. This decision, which was endorsed by the community, led to a 7% increase in the price of AirDAO's native token, AMB.
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