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Aave’s DeFi Lead Sees 70,000 Token Buybacks Amidst Profit Uplift
In a recent announcement, Aave DAO has officially completed the repurchase of an astonishing 70,000 tokens, marking a significant milestone in its buyback initiative. In less than six months, the platform has successfully acquired these tokens at an average purchase price of $223.33 per token for approximately $15.7 million.
Moreover, this strategic move has yielded an unrealized profit of $2.6 million as Aave DAO continues to strengthen its position in the decentralized finance (DeFi) sector. The buyback program remains active, with the organization allocating around $1 million weekly towards acquiring additional tokens.
Aave’s substantial growth and influence have been underlined by recent data. It now boasts over $50 billion in net deposits, placing it among the top 50 banks in the United States. Additionally, the platform accounts for nearly a quarter of the total DeFi market, which currently stands at approximately $33 billion, according to data from DeFiLlama.
Notably, Aave’s buyback strategy has further bolstered its financial situation. In 2024, the platform generated an impressive $86 million in revenue, representing a whopping 280% increase year-over-year. Furthermore, it is predicted that this figure will be surpassed this year as annualized revenue is already set to reach approximately $100 million by mid-2025.
Looking ahead, Blocmate forecasts Aave’s annual recurring revenue (ARR) may exceed \$150 million by the end of the year. This growth can be attributed to upcoming projects, including the launch of Aave V4 and the full implementation of Chainlink’s SVR.
Source: cryptoslate.com
