Aster

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<p><a href="https://x.com/Aster_DEX" rel="noopener noreferrer nofollow">@Aster_DEX</a> activated a major tokenomics upgrade on June 17, sending its native token <a href="https://x.com/search?q=%24ASTER&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ASTER</a> sharply higher within hours. <a href="https://cryptobriefing.com/aster-climbs-as-dex-rolls-out-198-buyback-and-burn-update/" rel="noopener noreferrer nofollow">Crypto Briefing</a> reported that the token climbed near $0.80 after the announcement before settling around $0.74, still up roughly 12% on the day, with trading volume surging 317% to nearly $500 million.</p>
<h2 id="how-the-198-buyback-and-burn-model-works">How the 198% buyback-and-burn model works</h2>
<p>Starting at 12:00 UTC on June 17, <a href="https://crypto-economy.com/aster-sets-198-aster-buyback-and-burn-model/" rel="noopener noreferrer nofollow">Aster raised its buyback-and-burn ratio to 198%</a>. Under the new structure, 99% of daily platform fees are used to buy back $ASTER from the open market, while an equal amount is simultaneously burned from reserves, creating what the protocol describes as a paired mechanism. The bought-back tokens are not destroyed. Instead, they flow to stakers through Aster's Loyalty Rewards program, with each epoch distributing a 300,000 $ASTER base reward plus the full buyback amount, allocated to veASTER holders by lock weight.</p>
<p>The reserve burn targets the team allocation first and will continue until total supply falls from 8 billion to a floor of 3 billion tokens. Buybacks run automatically through a daily TWAP process and settle on-chain, with the buyback wallet published publicly so users can verify activity in real time.</p>
<p>Aster also tied permissionless spot listing fees to additional buybacks: each new project listing on Aster Spot carries a 50,000 USDT fee, with proceeds going toward further $ASTER repurchases and additional staking rewards.</p>
<h2 id="context-a-supply-model-already-under-pressure">Context: a supply model already under pressure</h2>
<p>Today's upgrade is the latest in a series of supply-side moves. The Block noted earlier this year that <a href="https://www.theblock.co/post/395724/aster-perps-dex-staking-token-emissions-changpeng-zhao" rel="noopener noreferrer nofollow">Aster, the perps DEX backed by Binance founder Changpeng Zhao, cut monthly token emissions by 97%</a>, replacing a linear unlock schedule with staking-only rewards. The protocol has also completed multiple staged buyback-and-burn rounds since launch. According to CryptoNews, the protocol has already completed over $214 million in cumulative buybacks, reclaiming more than 143 million $ASTER tokens in under a month ahead of today's upgrade. Insider token unlocks remain frozen until September 2026, which removes near-term dilution pressure.</p>
<p>The market has priced in the supply squeeze quickly. Whether the model delivers lasting results depends on one variable: sustained fee volume. Higher trading activity means larger daily buybacks, faster reserve burns, and bigger staking rewards.</p>
<p><strong>Sources</strong><br><a href="https://cryptobriefing.com/aster-climbs-as-dex-rolls-out-198-buyback-and-burn-update/" rel="noopener noreferrer nofollow">Crypto Briefing: Aster climbs as DEX rolls out 198% buyback and burn update</a><br><a href="https://crypto-economy.com/aster-sets-198-aster-buyback-and-burn-model/" rel="noopener noreferrer nofollow">Crypto Economy: Aster sets 198% ASTER buyback and burn model</a><br><a href="https://www.theblock.co/post/395724/aster-perps-dex-staking-token-emissions-changpeng-zhao" rel="noopener noreferrer nofollow">The Block: Aster perps DEX switches to staking-only token emission model</a></p>

Aster's burn switch flips, and the market answers

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