Aave Founder Announces Aavenomics 3.0 to Include AAVE Buybacks, Staking, and Burning

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AAVE
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Aave founder Stani announced Aavenomics 3.0 on October 23, including AAVE buybacks, staking, and burning. Buybacks were paused in April following the rsETH incident, with the DAO pledging 25,000 ETH to DeFi United and securing a 30,000 ETH credit line from Mantle. A previous forum proposal reduced the annual buyback budget from $50 million to $30 million. Altcoins to watch may include AAVE, as the Fear & Greed Index responds to renewed token utility.

BlockBeats news, on October 23, Aave founder Stani stated during the Q3 livestream that Aavenomics 3.0 will include AAVE buybacks, staking, and burns.


AAVE buybacks were paused starting April 19, the day after the rsETH vulnerability incident. Since then, the DAO has committed to providing DeFi United with 25,000 ETH to compensate for losses and has arranged a credit line of up to 30,000 ETH from Mantle. Prior to the pause in buybacks, a proposal on the forum suggested reducing the annual buyback budget from approximately $50 million to $30 million.

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