Aave’s Token Buyback Proposal Passes, Driving 13% Price Surge

Aave’s tokenholders voted in favor of a governance proposal authorizing the protocol to purchase up to $4 million worth of its own AAVE tokens ($AAVE) per month as part of an ongoing initiative to revamp its tokenomics. This action, which garnered over 99% support, is considered the first step towards a broader plan to repurchase an additional $1 million worth of AAVE tokens weekly for six months. The move marks a response to growing demands from tokenholders for greater participation in the protocol’s revenue generation.