Aave DAO proposal on the allocation of AAVE buybacks

Aave DAO has passed a proposal to initiate the AAVE buyback and distribution program. This proposal approves the allocation of specific aEthUSDT from the Aave Collector contract to the Aave Financial Committee (AFC), enabling the committee to launch the AAVE buyback as part of implementing Aavenomics.

This preliminary proposal allows the AFC to begin executing the first phase of the buyback program, approving 4 million dollars' worth of aEthUSDT for approximately one month of AAVE buybacks. The goal of the complete plan is to repurchase 1 million dollars each week over six months.