Aave DAO has repurchased 100,000 AAVE tokens and plans to use them as collateral to open GHO credit

Since launching its buyback program on April 9th, Aave DAO has purchased a total of 100,000 AAVE tokens at an average price of approximately $239.35, a total cost of approximately $24 million. Currently valued at approximately $25.1 million, this represents a return of approximately 4.36%. Aave DAO's annual revenue is approximately double its annual expenditure. The organization plans to use the repurchased AAVE tokens and treasury assets as collateral to establish a GHO credit line, which will be used for growth initiatives and repaid with returns. This proposal has not yet reached a vote.