Dev DeFi Altcoin is Shaping the Future: Became the Most Rising with Proposal! - Coin Bulletin

AAVE, after presenting the most important proposal that will shape the future of the Aave DAO platform, surged 29% in the last 24 hours from $173 to $224.

Aave AAVE, one of the largest credit protocols in the decentralized finance DeFi ecosystem, experienced a sharp price increase thanks to the Aavenomics update offered by the governance community Aave DAO. This proposal aims to share the platform's revenues with AAVE token holders, introduce a new security system, and support the token price with weekly million-dollar AAVE purchases.

(# Aavenomics update: Revenue sharing and AAVE buybacks

The proposal offered by Aave DAO was first announced by Aave Chan Initiative )ACI( founder Marc Zeller. One of the most important points of the proposal suggests buying $1 million worth of AAVE per week. The program is planned to run for the first six months and to be expanded depending on Aave's financial situation.

However, Aave is also changing the revenue sharing model. In the new system, half of the annual $12 million revenue generated from the GHO stablecoin will be distributed to those who stake AAVE through a new token called “Anti-GHO”. Users can either directly burn this token to pay off their debts or earn additional rewards as Staked GHO )StkGHO###.

(# 'Umbrella' system to protect Aave users

Aave DAO has also announced a new security mechanism called “Umbrella” that will protect its users during sudden market downturns. With this system, Aave aims to provide protection against billions of dollars of bad debt risk, unlike rival platforms. The DAO aims to attract the attention of large investors with this move.

If the proposal is approved by the community, there will be significant changes in the Aave ecosystem. The proposal is currently in the feedback stage and will be put to a vote in the coming weeks. However, the price increase shows that investors are already reacting positively to the proposal.

According to CoinGecko data, AAVE rose from $173 to $224 in the last 24 hours, gaining 29% value. Among the key reasons for this increase are the Aavenomics update presented by DAO, the $1 million AAVE buyback program weekly, revenue sharing model, and new security mechanism.