The protocol will use 99% of daily fees to buy and burn ASTER, reducing supply from 8 billion to 3 billion over time.
Aster will redirect 99% of daily platform fees to automatically buy back ASTER tokens starting June 17 at 12:00 UTC. An equal amount of ASTER will be burned from reserves, initially targeting the team allocation, with biweekly burns until supply drops from 8 billion to 3 billion.
The protocol previously did not allocate fees toward token buybacks. All repurchased ASTER will be distributed to veASTER stakers as Loyalty Rewards based on lock weight. Additionally, each new permissionless listing on Aster Spot will incur a 50,000 USDT fee, which will also fund ASTER buybacks for staking rewards.