Aave DAO has cumulatively repurchased 100,000 AAVE and plans to use them as collateral to initiate GHO credit.
PANews reported on October 13 that since Aave DAO launched its buyback program on April 9, it has accumulated the purchase of 100,000 AAVE at an average price of approximately $239.35, with a total cost of about $24 million and a current value of about $25.1 million, resulting in an overall return of approximately 4.36%. According to TokenLogic, Aave DAO's annual revenue is about twice its annual expenditure. It plans to use the repurchased AAVE and treasury assets as collateral to open a GHO credit line, with the funds to be used for growth initiatives and repaid with returns. This proposal has not yet entered the voting process.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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