TL;DR:
- Phase 5 starts December 23, dedicating 80% of daily fees to ASTER repurchases, 40% automatic and 20% to 40% strategic purchases.
- Program targets tighter supply and lower volatility. Prior phases burned 7.11% of circulating tokens, yet the price slid 37.36% over 30 days.
- Cited data shows $0.73 currently, with market cap over $1.82 billion. +1.73% in 24 hours, -18.86% in a week; volume $168.22 million, down 59.83% over 90 days.
Aster DEX says it will begin a new repurchase initiative on December 23, framing a fifth buyback phase funded by platform fees as a way to tighten ASTERās circulating supply. Funding comes from daily fee revenue. Under the plan, 80% of daily fees are earmarked for token purchases, with the stated objective of mitigating volatility and stabilizing market value. The program combines automatic buybacks with a strategic purchase component, setting clear execution lanes for treasury activity. The announcement lands as stakeholders assess whether systematic repurchases can translate into durable support for token holders and traders.
š”ļø Shield Mode Update: PnL-Based Fees with 100% Buyback Allocation
Since launch, Shield Mode has demonstrated strong trading performance and solid community engagement. To further align incentives between traders and the protocol, we're implementing the PnL Sharing Feeā¦
— Aster (@Aster_DEX) December 22, 2025
How Phase 5 Is Structured
The framework splits the fee allocation into two tracks. Forty percent of daily fees will be routed into automatic, on chain repurchases, while 20% to 40% will be held back for discretionary buys intended to respond to market swings. This dual lane approach is positioned as an execution playbook for liquidity management rather than a single mechanical burn, and it highlights a preference for flexibility during periods of rapid repricing in practice. Even so, the update notes no immediate price impact and flags that official confirmations beyond the announcement have not been reported to date.
Buybacks are not new to the protocol. Prior phases are described as having completed with a meaningful reduction in supply, including the burn of 7.11% of circulating tokens. The project frames the latest phase as part of a longer running effort to manage token volatility, and notes the tokenās market value has displayed fluctuations over time. But the same dataset underscores the gap between supply controls and market outcomes. Despite the stabilization intent, ASTERās price is reported to have slid 37.36% over the past 30 days, reinforcing that demand and risk appetite can overpower mechanics.
Market data cited alongside the update shows ASTER trading at $0.73 with a market cap exceeding $1.82 billion. Over the past 24 hours, the token posted a 1.73% increase, but it remains down 18.86% over the last week. Trading volume is listed at $168.22 million, with a 59.83% decline over 90 days, signaling softer activity despite headline actions. A companion research note argues buybacks may influence near term supply and liquidity, but regulatory developments and market sentiment will likely ultimately set the longer runway for performance, not program optics alone, in the months ahead overall.
