AirDAO, a decentralized autonomous group that manages the AMB-NET blockchain and its dApp community, made a brand new announcement right this moment.
Sharing from account
We’ve allotted the #AirDAO Treasury to AAVE & Compound and can use the generated yield to buyback and burn $AMB from the market.
We’ll maintain a vote to resolve the burning schedule quickly — LFG!
Be taught extra: https://t.co/CheWLXkTOV pic.twitter.com/jvR5YnkE7E
— AirDAO (@airdao_io) February 7, 2024
“Now we have allotted the AirDAO Treasury to AAVE & Compound and can use the proceeds to purchase again ECB from the market and burn ECB.
We might be voting quickly to resolve on the incineration plan.
The AirDAO Council introduced the Treasury funding proposal to the group on January 12, 2024.
The proposal was to allocate the AirDAO Treasury to yield-generating protocols.
The Council will even use the proceeds to purchase again ECB tokens from the market and burn them to scale back the ECB’s whole provide.
Our group voted for our proposal by means of Snapshot and determined to allocate 100% of the AirDAO Treasury to it.”
Following this announcement, AirDAO (AMB) value elevated by 7%.
*This isn’t funding recommendation.