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$ASTER burns are continuing. But does it matter?
Aster is targeting a supply reduction from 8 billion to 3 billion tokens. That means roughly 5 billion tokens need to be burned over time.
So far across all programs, ~184 million ASTER have been burned.
With the updated mechanism (since June 17th), exactly 3,084,000 tokens were bought back and burned in the last 14 days (June 29 to July 13). That's an average of ~220K ASTER burned per day.
At this steady pace, burning the remaining amount would take around 60 years. 🫠
Of course the burn rate is entirely tied to the fees the platform generates. As volume and open interest grow, daily fee revenue increases, and so does the buyback and burn amount. That's if the platform manages to achieve that growth.
Quick breakdown of scenarios:
>At current pace: Very long time
>If volume triples or quadruples: Down to 15-20 years
>If real strong growth is achieved (Hyperliquid-like momentum): Meaningful progress possible within 7-12 years
Worth noting that back in March they cut emissions by 97%. That has significantly reduced new token supply coming in. So supply is being squeezed from both sides while existing revenue is used to buy and burn.
I think the mechanism is solid but growth is the real variable. Tracking volume and OI is the most critical thing here. Current pace isn't enough for me. If platform usage picks up I might reconsider.
$BNB $GIGGLE #BinanceTurns9 #bnb #asterix #Binance