AAVE briefly broke through $117, with a 24-hour increase of over 2.13%

BlockBeats reports that on August 2, market data shows AAVE briefly broke through $117 and is now quoted at $116.73, up more than 12.13% in the past 24 hours.

In previous market news, according to the Aave governance page, a proposal for "Activation Fee Conversion" has been submitted by Marc Zeller, founder of the Aave Chan Initiative (ACI), for community temperature check. The next step is to solicit opinions from the Aave community on this matter and possibly conduct a snapshot vote. The Aave Chan Initiative is one of the top independent organizations serving the Aave DAO. This proposal aims to return part of the platform's net excess income to its main users.

For the first time explicitly linking development of the Aave protocol with its token, this proposal provides a buyback floor for tokens and cash flow income for holders which could positively impact price of AAVE.