Time to check in on Aavenomics. → Buybacks are still rolling, with nearly 0.5% of the total supply already repurchased from protocol revenue. → $AAVE emissions keep falling, now at 390 $AAVE per day across stkAAVE, stkABPT, and stkGHO (currently 0 for stkGHO). At the current price of $325, buybacks cover ~119% of annual emissions. → Since buybacks have exceeded emissions, the $AAVE circulating supply is now deflationary, with about a 0.18% yearly reduction in total supply. And it should only improve, with further cuts planned until emissions hit 0. After that, we’ll see about redistributions 👀