I've been a supporter of Aster since the beginning, but this burning process is too long, taking over 50 years. Why not do it immediately, like TWT? It's too slow, so the impact isn't significant. Hopefully, the project will burn all 6 billion tokens and focus on product development. If there are no more unlocks in the future, people will be more willing to invest.
Aster Updates Tokenomics: 99% of Daily Platform Fees to Be Used for ASTER Buybacks
Aster updated its ASTER tokenomics. Starting at 12:00 UTC on June 17, 99% of daily platform fees will be automatically used to buy back ASTER, with an equal amount of ASTER burned from reserves. Burns will first come from the team allocation and be executed biweekly until total supply falls from 8 billion to 3 billion. All bought-back ASTER will be distributed to veASTER stakers as Loyalty Rewards based on lock weight. In addition, each permissionless listing on Aster Spot will pay a 50,000 USDT fee, which will be used to buy back ASTER as extra staking rewards.
[Tokenomics Update] $ASTER Buyback and Burn Steps Up to 198%
Aster is upgrading its buyback so the platform's own activity both rewards stakers and sets $ASTER on a deflationary path.
Starting from 12:00 PM UTC today, 99% of Aster's daily platform fees buy back $ASTER. An equal amount of $ASTER is burned from reserve, matching the buyback one for one.
The bought-back $ASTER goes to stakers. Each epoch it is added to Loyalty Rewards (300K $ASTER base, plus the buyback amount), distributed to veASTER by lock weight.
The burn takes team allocation first. $ASTER launched with a total supply of 8,000,000,000. The burn continues until total supply reaches 3,000,000,000.
Buybacks run automatically via TWAP across each day and settle on-chain. The buyback and the burn are both public and verifiable:
- Buyback wallet: 0xa0edBaBcb48034e368de286b49F9603C7AfA1b60
Every permissionless listing on Aster Spot pays a 50,000 USDT fee, used to buy back $ASTER as extra staking rewards.
- Listing fee wallet: 0x39C473f4420e4ae9Ab3fe9e7ceDFc08F9684bB1a
Docs: https://t.co/NU0NXQPPch
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◽️ Like & Retweet
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🏆10 Winners draw by @grok
That’s all! Celebrate $PRL reaching $2 on DEX! 🚀
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