{"id":126832,"date":"2025-04-09T22:15:53","date_gmt":"2025-04-09T22:15:53","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126832"},"modified":"2025-04-09T22:15:53","modified_gmt":"2025-04-09T22:15:53","slug":"aave-soars-13-as-buyback-proposal-passes-among-tokenholders","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126832","title":{"rendered":"AAVE soars 13% as buyback proposal passes among tokenholders"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsAave\u2019s tokenholders approved a governance proposal to start buying back the decentralized finance (DeFi) protocol\u2019s governance token, AAVE, as part of a broader tokenomics overhaul, Aave said on April 9.\u00a0<br \/>\nThe proposal \u2014 which was approved by more than 99% of AAVE tokenholders \u2014 permits the protocol to purchase $4 million in AAVE (AAVE) tokens, enough for one month of buybacks.\u00a0<br \/>\nThe move is a \u201cfirst step\u201d toward a broader plan to repurchase $1 million AAVE tokens weekly for six months.\u00a0It is also the latest instance of DeFi protocols implementing buyback mechanisms in response to tokenholder demands.<br \/>\n\u201cThe goal is to sustainably increase AAVE acquisition from the open market and distribute it to the Ecosystem Reserve,\u201d the proposal said.\u00a0<br \/>\nThe AAVE token\u2019s price rallied more than 13% on April 9, bringing the protocol\u2019s market capitalization to more than $2.1 billion, according to data from CoinGecko.<br \/>\nThe buyback proposal passed with overwhelming support. Source: AaveRelated:\u00a0Aave proposal to peg Ethena\u2019s USDe to USDT sparks community pushback<br \/>\nBuybacks gain popularity<br \/>\nIn March, the Aave Chan Initiative (ACI), a governance advisory group, proposed a tokenomics revamp that would include new revenue allocations for AAVE tokenholders, enhanced safety features for users, and the creation of an \u201cAave Finance Committee.\u201d<br \/>\nAave is Web3\u2019s most popular DeFi protocol, with total value locked surpassing $17.5 billion as of April 9, according to DefiLlama.\u00a0<br \/>\nIt is also among DeFi\u2019s biggest fee generators, with an estimated annualized fee income of $350 million, the data shows.\u00a0<br \/>\nAave is DeFi\u2019s most popular protocol by TVL. Source: DeFILlamaDeFi protocols are under increasing pressure to provide tokenholders with a share of protocol revenues \u2014 partly because US President Donald Trump has fostered a friendlier regulatory environment for DeFi protocols in the United States.<br \/>\nProjects including Ethena, Ether.fi and Maple are piloting value-accrual mechanisms for their native tokens.<br \/>\nIn January, Maple Finance\u2019s community floated buying back native SYRUP tokens and distributing them as rewards to stakers.<br \/>\nIn December, Ether.fi, a liquid restaking token issuer, tipped plans to direct 5% of protocol revenues toward buying back native ETHFI tokens.\u00a0<br \/>\nSimilarly, Ethena, a yield-bearing stablecoin issuer, agreed to share some of its approximately $200 million in protocol revenues with tokenholders in November.<br \/>\nMagazine:\u00a0DeFi will rise again after memecoins die down: Sasha Ivanov, X Hall of Flame<a href=\"https:\/\/cointelegraph.com\/news\/aave-buyback-proposal-passes-among-holders?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsAave\u2019s tokenholders approved a governance proposal to start buying back the decentralized finance (DeFi) protocol\u2019s governance token, AAVE, as part of a broader tokenomics overhaul, Aave said on&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126832"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126832"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126832\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126832"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}