Decentralized cryptocurrency platform Aster has announced a significant update to the tokenomics model for its native token, ASTER.
According to the new model, as of June 17th at 15:00 UTC+3, 99% of the platform’s daily transaction fees will be automatically used for ASTER buybacks.
According to the company’s statement, all of the repurchased ASTER tokens will be distributed to ASTER staking users as part of “Loyalty Rewards,” based on their lock-up weights. Thus, a significant portion of the platform’s revenue will be used directly to reward long-term ASTER holders.
In the new system, each ASTER buyback will be supported by burning the same amount of ASTER from reserves. Initially, these burns will be funded from crew allocation and will take place every two weeks. This process will continue until the total ASTER supply drops from 8 billion to 3 billion.
Aster also announced that a fee of 50,000 USDT will be charged for each unauthorized listing on the Spot platform. These fees will be used for ASTER buybacks and distributed as additional rewards to staking users.
The project stated that the tokenomics update aims to utilize platform operations in favor of ASTER holders, and that the new model will both reward ASTER stakers and reduce the supply of ASTER.
*This is not investment advice.
