AAVE’s token holders approved the governance proposal to reconsider AAVE, a protocol token of distributed finance (Defi) as part of a broader token fix shooting on April 9.
The proposal approved by more than 99% of the AAVE token holders allows the protocol to purchase $ 4 million with AAVE (AAVE) tokens sufficient for a month’s repurchase.
This is the “first stage” for a wide range of plans to buy $ 1 million AAVE tokens every week for six months. It is also an example of the latest Defi protocol that implements the repurchase mechanism according to the token holder request.
“The goal is to continue to increase the acquisition of AAVE in the open market and distribute it to the ecosystem protection area.
According to Coingecko’s data, the price of AAVE TOKEN increased by more than 13% on April 9, bringing the market cap of the protocol to more than $ 2.1 billion.
The repurchase proposal was passed with overwhelming support. source: Ghost
relevant: AAV
Redemptions are gaining popularity
In March, the Governance Advisory Group, AAVE CHAN Initiative (ACI), proposed a revision of token token, including new profits for AAVE token holders, strengthening safety functions for users, and creating the “AAVE Finance Committee”.
According to Defillama, AAVE is the most popular Defi protocol of Web3, and as of April 9, the total value lock has exceeded $ 17.5 billion.
It is also one of the largest commission generators of Defi, with an estimated annual commission income of about $ 350 million, according to data, according to data.
AAVE is the most popular protocol of Defi on TVL. source: Displacement
Since US President Donald Trump has created a more friendly regulatory environment for the US Defi protocol, the Defi protocol is under pressure to provide token holders with some of their protocol income.
Projects, including Ethena, Ether.fi, and MAPLE, are piloting the value reception mechanism for unique tokens.
In January, Maple Finance’s community purchased a primitive syrup token and distributed it to the staker.
In December, Ether.fi, a liquid token issuer, plans to order 5%of the protocol income to re -purchase the primitive ETHFI tokens.
Similarly, Ethena, a stable stable stabilizer issuer that gives a return, agreed to share a $ 200 million protocol revenue with token holders in November.
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