Aster Upgrades Token Economic Model, Buyback and Burn Ratio Increased to 198%

CoinFeed June 17 news, Aster announced an update to the ASTER token economic model, increasing the buyback and burn ratio to 198%. Starting from today at 20:00 (UTC+8), 99% of Aster's daily platform fees will be used to buy back $ASTER. At the same time, an equal amount of $ASTER will be burned from the reserve, with a 1:1 ratio between buyback and burn. The repurchased $ASTER will be distributed to stakers. Each epoch, these $ASTER will be added to the loyalty rewards (300,000 $ASTER base reward plus the buyback amount) and distributed to veASTER based on lock weight. The burn will be prioritized for the team. The initial supply of $ASTER is 8 billion tokens. The burn will continue until the total supply is reduced to 3 billion tokens.