The Altcoin Backed by CZ Announced That It Will Use 99 Percent of Its Revenue for Token Burn

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.