TLDR

  • Aster has executed a token burn of 78 million tokens and has committed to burning an additional 98 million tokens through buyback initiatives.

  • Leonard has denied any control over Aster by CZ or Binance, asserting that the buyback processes are verifiable.

  • Airdrops for Seasons 4 through 6 are still pending, which has led to concerns regarding potential future price pressure.

  • A community member, identified as StrongHedge, has stated that the tokenomics of ASTER devalue the token and lack practical utility.

Leonard, the CEO of Aster, has publicly addressed community concerns and allegations related to insider dumping and misaligned tokenomics. This statement comes amidst ongoing discussions concerning Aster’s market standing, its association with Binance, and its future strategies.

Leonard has refuted claims linking Binance founder CZ and the Aster project, stating they are baseless. He clarified that while Yzi Labs, an investor connected to CZ, possesses a stake in Aster, the project operates independently.

“Aster is not controlled or directly operated by CZ or Binance,” Leonard stated.

Aster Token Emissions and Buyback Claims Under Scrutiny

Concerns have been raised by the community regarding token emissions and their potential impact on the market price. Critics contend that Aster’s emissions have surpassed those of comparable projects like HYPE, despite Aster being a more recent entrant.

In response, Leonard highlighted on-chain data indicating that 254 million tokens have been bought back and 78 million have been burned to date. He also mentioned that an additional 98 million tokens are slated for burning and that buybacks are now automated and transparently accessible through a community-developed dashboard.

However, critics, including X user @StrongHedge, have argued that the airdrops function as “delayed dumps,” effectively counteracting the impact of the buybacks. He commented,

“Each airdrop has resulted in a massive dump. The chart doesn’t lie.”

Community Divided Over Project Direction and Token Utility

A significant point of disagreement revolves around whether the Aster project has successfully aligned its incentives with those of its community. Critics suggest that Aster utilized its early supporters for “exit liquidity,” a strategy contrasted with competitor HYPE, which is perceived as more community-focused.

Leonard acknowledged the community’s frustration regarding price performance but affirmed that utility is actively being developed. Upcoming product releases are scheduled for March and include a privacy-focused decentralized exchange, staking functionalities, and interface enhancements.

To alleviate concerns about emissions, Aster has temporarily halted its monthly 1% unlocks until staking features are operational. Leonard also indicated that Season 6 will be the final airdrop season, and the rate of future supply growth will significantly decrease.

Rivalry with HYPE and Market Sentiment Challenges

While Leonard emphasized that Aster is not specifically targeting HYPE or any other competitor, past remarks from CZ suggesting Aster would “flip” HYPE have drawn criticism.

According to critics, these statements created expectations that have not been met. HYPE now holds a market capitalization six times larger than Aster, and its performance has intensified the scrutiny on Aster’s execution.

The ASTER token continues to face downward pressure, trading near its all-time low prices. Leonard stated that the team remains dedicated to development and has invited users to contribute to shaping the project’s future through its Discord community.