A new announcement has come from Aster (ASTER), an altcoin in which Changpeng Zhao (CZ), the founder of Binance, the world’s largest cryptocurrency exchange, has personally invested.
At this point, the Aster team made a buyback announcement via their X account.
Accordingly, Aster introduced the Strategic Buyback Reserve mechanism, which automatically allocates 20%-40% of its daily revenue to repurchase ASTER tokens.
Aster DEX is initiating automated ASTER buybacks using 20-40% of daily platform fees through its Strategic Buyback Reserve mechanism, and the first buybacks will be visible on-chain.
This initiative is part of the fifth phase of Aster’s buyback plan, which aims to dynamically adapt to market conditions, reduce circulating supply, and increase long-term investor confidence.
“We are currently actively deploying our Strategic Buyback Reserve for ASTER token buybacks.”
Building upon our Phase 5 Buyback Program announced last month, this activation aims to dynamically respond to market conditions, maximize value, and reduce circulating supply by allocating 20-40% of daily platform fees to targeted buybacks.
We have successfully and verifiably executed the initial buybacks from reserve wallet 0x5E4969C41ca9F9831468B98328A370b7AbD5a397 on-chain.
Affected by the general and sudden market downturn, ASTER is currently trading down 12.5% at $0.60.
*This is not investment advice.
