MakerDAO buyback has started, with an average repurchase of around $5000 MKR every 27 minutes.

BlockBeats reported on July 19th that MakerDAO's intelligent burn engine has been activated, with a current treasury surplus of $69.6 million, of which over $50 million ($19.6 million) will be used to repurchase MKR and add it to Uniswap V2 as LP along with DAI. According to on-chain information, repurchases are currently being executed approximately every 27 minutes, with an average repurchase amount of around $5,000. As previously reported by BlockBeats, on July 17th, the MakerDAO community voted in favor of the "BlockTower Andromeda upgrade, intelligent burn engine deployment, parameter changes for scope definition, representative compensation, ecosystem participant and core unit funding updates, and Spark protocol proxy spell execution" proposal, which can be executed after 3:44 a.m. Beijing time on July 19th, 2023. On July 3rd, MakerDAO's Risk Core Unit team released a proposal for the "Introduction to Intelligent Burn Engine and Initial Parameters", which has not yet been voted on by the community. The proposal states that the intelligent burn engine is a new type of smart contract system designed to distribute excess Dai from Maker's surplus buffer, which has not been used as emergency reserves. The difference between the intelligent burn engine and the previous burn design is that MKR tokens will accumulate in the form of Uniswap V2 LP tokens instead of being acquired and burned. In addition, Surplus Auctions (Flaps) will be replaced by the Dss Flapper contract.