
Aave Kickstarts Buyback Program, Here’s the Possible Impact on Price
DeFi lending protocol Aave has kickstarted its $1 million weekly token buybacks to reward stakers and boost token demand.
1H
-0.53%$0.8902
24H
0.07%$0.1169
7D
20.3%$28.23
30D
-6.47%$11.56
DeFi lending protocol Aave has kickstarted its $1 million weekly token buybacks to reward stakers and boost token demand.
The $159 level is a key support to watch for Aave (AAVE), while a break below could send prices toward $128.
Aave has proven to users that DeFi protocols can now handle liquidations in the face of market distress.
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Aave’s testnet deployment on Aptos aims to assess V3’s safety and performance, with mainnet launch pending governance approval.
Aave is a decentralized finance protocol that allows people to lend and borrow crypto.
Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity.
Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but the rebranding to Aave happened in September 2018. (This helps explain why this token’s ticker is so different from its name!)
AAVE provides holders with discounted fees on the platform, and it also serves as a governance token – giving owners a say in the future development of the protocol.
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