Today, I saw that Aster DEX burned 77.86 million ASTER tokens on-chain in one go, which is roughly $82.05 million at the current price. This move accounts for 1% of the total supply, directly reducing the circulating supply by 3.28%.

They started buybacks on October 24, using 70%-80% of protocol fees for the buybacks ( with a daily volume of about $2-3 million ), set to run automatically every 2 minutes, with each buyback being around $5,000-$6,000. In total, they have already bought back over 100 million ASTER tokens.

Let’s sum it up: as of December 5, the total buyback amount has exceeded $214 million, with 137 million tokens burned in total. The current circulating supply is down to 2.295 billion, which means about 3.28% of the circulating supply has been reduced.

Honestly, it’s rare to see projects that use the majority of protocol revenue for buybacks and burns. ASTER’s approach here is quite impressive and worth keeping an eye on.