Aster to Use 99% of Platform Fees for Token Buybacks, Expand Burns
JOON HYOUNG LEE
Summary
- Aster said it will introduce an upgraded program that uses 99%% of daily platform fees for token buybacks.
- Repurchased tokens will be added to loyalty rewards in each epoch and distributed to stakers.
- Aster said it will continue burning primarily team-allocated tokens until total supply is reduced from 8 billion to 3 billion.
Forecast Trend Report by Period
Decentralized exchange Aster will use 99% of its platform fees for token buybacks.
Aster said on its official X account on June 17 that it upgraded its buyback program to allocate 99% of daily platform fees to token repurchases. It added that it will burn an equal number of tokens from reserves to match the buybacks.
The repurchased tokens will be distributed to stakers through loyalty rewards in each epoch. Aster said those rewards will consist of the base 300,000 Aster tokens plus the buyback amount.
The burn program will focus on team-allocated tokens. Aster plans to continue burning tokens until total supply falls to 3 billion from 8 billion.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
