In the past two months, the Aave DAO has bought back 50,000 AAVE tokens at an average price of $199.74.

BlockBeats News, June 20, According to GLC Research data, it has been two months since the Aave DAO initiated the AAVE token buyback and fee switch. The protocol has consistently stuck to its plan of weekly buybacks of $1 million. As of today, the Aave DAO has bought back 50,000 AAVE tokens at a total cost of $10 million, with an average purchase price of $199.74. Based on the current market price of $264, this buyback reserve is now worth approximately $13 million.

The Aave DAO is expected to continue its weekly $1 million buyback plan for the initial 6 months.