Aster completes first token burn and reinforces new tokenomics
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Aster has taken another step in implementing its new economic policy by completing the first token burn since the protocol's tokenomics update. The decentralized exchange, built on BNB Chain, confirmed that the operation used practically all revenue obtained from daily fees to repurchase ASTER tokens intended for participants in the stake program.
According to the project team, 99% of the fees accumulated between June 17 and 29 were directed to the repurchase of approximately 2.9 million ASTER. At the same time, an equivalent amount of tokens was permanently removed from the allocation reserved for the development team, reducing the total circulating supply over time.
At the time of publication, the ASTER token was trading near US$ 0.63, accumulating gains of about 1.5% in the last 24 hours.
The tokenomics update, announced this month, establishes that 99% of the fees generated daily by the protocol will be allocated to the repurchase of ASTER. In parallel, Aster carries out the burn of an equivalent number of tokens from its reserves, creating a mechanism that combines rewards for stake participants and a gradual reduction in supply.
The repurchases occur automatically through a daily TWAP process recorded on the blockchain. The acquired tokens are distributed to veASTER holders through the protocol's Loyalty Rewards program. In addition to the repurchased assets, each distribution cycle also includes a fixed reward of 300.000 ASTER for eligible participants.
According to Aster, the burn strategy will begin using tokens belonging to the team's allocation. The objective is to reduce the total ASTER supply from 8 billion to 3 billion units, maintaining this process continuously as the protocol executes its economic policy.
The decentralized exchange also reported that the fees charged for permissionless listings on Aster Spot will begin contributing to this mechanism. The amount of 50.000 USDT required in each new listing will be allocated to the repurchase of ASTER, increasing the resources used to benefit stake participants and expand the pace of reduction of the token's supply over time.