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ASTER

Aster · Perp DEX (own L1, Aster Chain; token on BNB Chain)

41 /100
T3Mixed · #21 of 77
Cash flow routeCould move up ↑low likelihoodReviewed Oct 23, 2026
DemandSoundnessDurability
18 of 4517 of 406 of 15

Key facts

SupplyFloat 32% of issued supply
  • Circulating 2.51B, 31%
  • Locked or unvested 5.28B, 66%
  • Not yet issued 210.1M, 3%
  • Max 8.00B
FDV / market cap
3.1x
$5.5B / $1.8B
Market cap
$1.8B
Price $0.700, 7d −0.3%

Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.

Assessment

Aster's engine is a policy buyback: since Jun 17, 2026, 99% of daily fees go to TWAP purchases of ASTER paid out to veASTER stakers, but a team-run wallet executes against fees Aster reports itself, and terms changed at every stage since late 2025. Revenue runs ~$62M a year on the last 90 days, down from $201M over the trailing year. The 8B BEP-20 has no mint function, owner or proxy, yet 5.07B ASTER (65% of supply) is team-directed or unallocated with no schedule. Fees and positions live on Aster Chain, a closed-source chain whose validators Aster runs, so one company can halt or rewrite it.

How value reaches holders

Since Jun 17, 2026, 99% of daily platform fees fund daily TWAP purchases of ASTER into a public wallet, all paid to veASTER stakers each weekly epoch by lock weight, on top of 450K ASTER/week of emissions. Aster's reports (32.3M ASTER bought to Oct 19, 2026) match DefiLlama fees within 5%: ~$4.4M/30d, ~$53M/yr. The advertised '198%' adds a biweekly burn from the locked team allocation: it lowers total supply (7.79B) and FDV, not the 2.72B float

Score anatomy

Demand

18 / 45: the stronger of two routes, plus adoption

Why would anyone hold it: does value reach the token, and is the network or product used today?

Holder routing engine input
3

Policy, not plumbing: a team-run wallet buys against fees Aster reports itself, and every buyback stage since late 2025 had different terms (half of Stage 3 relocked for airdrops, a discretionary 20-40% leg in Stages 5-6; the two Stage 6 wallets still hold 18.05M ASTER, unburned)

Policy-set material share (25%+), or plumbing at 25-50%How this is scored

Revenue reality engine input
3

$201M of fees over the trailing year but $15.4M in the last 90 days (~$62M/yr), so one band lower

$25-100M/yrHow this is scored

Monetary usage engine input
0

veASTER staking and buyback exposure; ~$0.9M posted at Lista; no confirmed gas role.

Trading onlymedium confidenceHow this is scored

Adoption ×3
2

Aster OI $1.37B (#3 venue) but monthly fees fell from $133M (Oct 2025) to $5.9M (Sep 2026), 30d fees ~5% of Hyperliquid, and volume is unverified

Niche: real but small use, far behind its category leadersmedium confidenceHow this is scored

Two routes, the stronger counts

01234520cash flowmoney
Revenue 3, minus 1 for routing 3 = cash flow 2. Money use 0. The engine is the stronger route: 2.

Soundness

17 / 40

Can a long-term holder trust the rules: supply, float, distribution and control?

Supply discipline ×3
5

Fixed 8B BEP-20 with no mint function, owner or proxy (read Oct 19, 2026); staking pays from the pre-minted ecosystem allocation and burns cut total supply to 7.79B.

Hard cap or net deflationary by protocol rule, under 1%/yr gross growth, and nobody can mint past the cap or change the schedule short of a hard fork node operators adopthigh confidenceHow this is scored

Float and unlocks ×1
2

Float 35% (2.72B of 7.79B); 5.07B is locked or unallocated with no schedule, and float grew 35% over the trailing year (~2.5% a month).

1.5-3% of float unlocking per monthmedium confidenceHow this is scored

Distribution ×2
0

No public sale; team 5%, treasury 7%, ecosystem 30% and the unallocated airdrop pool are team-directed: 5.07B (65% of supply) locked or unallocated with no schedule

Insiders received over 50%, or one organization directs over 30% todayhigh confidenceHow this is scored

Decentralization and security ×2
0

Fees and positions live on Aster Chain, a closed-source chain whose validators Aster runs, a company-run chain that one company can halt or rewrite; the BEP-20 token itself has no owner or proxy

One operator, pool, company or key can halt, rewrite, freeze balances, or upgrade value-holding contracts without delayhigh confidenceHow this is scored

Durability

6 / 15

Is it big, proven and reachable by institutions?

Scale ×1
4

$1.8B market cap (band 4), $105.3M/day median volume (band 4), no flags.

Major: $1-10B market cap and $50M/day+How this is scored

Track record ×1
1

ASTER TGE Sep 17, 2025: 1.1 years old.

1-3 yearsmedium confidenceHow this is scored

Institutional access ×1
1

Spot on Binance, Coinbase, Kraken, OKX, Bybit and Bitstamp; no ETP found.

Top-tier exchanges only, or delisting pressuremedium confidenceHow this is scored

What would move it up

To reach T2 Strong, 5 gates are still open:

  • Score 41needs 55(open)
  • Value engine 2needs 3(open)
  • Adoption 2needs 3(open)
  • Security 0needs 2(open)
  • Distribution 0needs 1(open)
  • Supply 5gate 2(met)
  • Float and unlocks 2gate 1(met)
  • Scale 4gate 3(met)

Tier outlook

Could move up ↑low likelihood

  • Security rises to 1 if Aster Chain opens to external validators or its fee data becomes independently verifiable
  • Revenue falls a band, and the engine with it, if annualized fees drop under $25M (~$62M on the last 90 days)
  • Routing: biweekly buyback reports against DefiLlama fees, and any change to the 99% share or staker payout
  • Overhang: use of the ~5B unscheduled reserve, including the Stage 6 vesting window (Nov 4 to Dec 4, 2026)

Compare with

How the ranking works and how ASTER compares: see the full ranking. This entry as JSON:

GET https://tokens.10102.io/api/v1/tokenomics?symbol=ASTER