AEVO, derivatives L2 platform for options and perpetuals, has started a buyback process to stabilize the falling price of $AEVO. This decision comes after the token’s price experienced a significant drop. This drop in price was due to a large supply unlock. At its peak, $AEVO reached $3.5 per token. However, the increased supply caused its value to plummet and it is trading at $0.44 at the press time.

AEVO Targets Monthly 1M Token Buybacks Until December

The buyback process began in July where AEVO bought 1,000,000 $AEVO tokens for $446, on average. The buyback involved a specific process. In this regard, some of the insurance fund of $AEVO were transferred and used to purchase $AEVO on Binance exchange. They also buy tokens, which were later on sent from Binance to the DAO. This method helps in securing the buyback process and makes it transparent.

AEVO has vowed to keep up with this buyback plan by targeting to repurchase at least 1 million $AEVO tokens in every month from July to December. Moreover, subsequent repurchases will be executed on-chain, increasing the transparency of information for token holders.

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According to AEVO, with the token supply nearly almost fully vested and with the commencement of these buybacks, this will go a long way into creating long-term wealth for the holder of the $AEVO token.

$AEVO Buyback Aims to Boost Token Value and Investor Confidence

With a continued buyback program, it will be easier for AEVO to regulate the supply and demand of the token. All these are expected to assist the token to achieve its value and gradually gain investors’ confidence. AEVO expects that these efforts will help create a more favorable environment for a more stable $AEVO token in the future for the benefit of all participants.

Lastly, the buyback process that has been proposed by AEVO is a step towards finding a solution to the lower price of the $AEVO token. By ensuring monthly buybacks and promoting transparency in its functions, AEVO is navigating towards the proper valuation of the token and the sustainable development of its network.