According to PANews, Aave's official governance page has announced the approval of the first phase of its buyback proposal with a 99.63% support rate. The Aave Treasury Committee has been authorized to use $4 million in aEthUSDT for approximately one month of AAVE buybacks. This initiative is part of the Aavenomics economic model, aiming for a complete buyback target of $1 million per week over the next six months. The initial phase will be followed by the deployment of an updated Aave Swapper contract to support long-term execution.