In a recent interview, Aster CEO Leonard outlined exciting developments for the community, including plans for a new chain focused on trading utilities and an upcoming token buyback initiative.
Summary
- Aster CEO Leonard announced that the project is entering Season 3, emphasizing spot trading, liquidity, and a CEX-like on-chain trading experience.
- Leonard indicated that the project’s token buybacks will operate on a flexible schedule rather than a fixed one.
During an interview with Trends founder Mable Jiang on Sept. 29, Leonard explained that Aster is preparing for its third phase, dubbed Season 3. The team is gearing up to launch Aster Chain for trading without establishing a comprehensive ecosystem.
Leonard emphasized that the Aster (ASTER) Chain aims to ensure all on-chain trades are transparent, verifiable, and maintain user privacy.
“We aim to integrate more with other chains to aggregate liquidity on ours and verify it for everyone. While we appreciate what other projects are doing, our focus is on enhancing the trading experience,” Leonard stated in the interview.
For the first three to six months, Leonard noted, the team will prioritize securing adequate liquidity and enhancing UI/UX for on-chain trading. However, they are not looking to create “another EVM chain for everyone to build on.”
“Honestly, we have too many chains. What we need isn’t more L1 solutions, but a better decentralized trading experience,” he added.
He mentioned that creating an entire ecosystem requires significant effort and investment, whereas the team aims to build a trading platform with features commonly found on centralized exchanges.
Leonard also highlighted spot trading as a key focus for Aster, especially since the token’s trading volume recently surged to $3.05 billion.
“Things moved rapidly, and we didn’t anticipate spot trading to gain traction so quickly. That’s why we’re starting Season 3 ahead of schedule,” he remarked.
The upcoming phase will reward loyal early users while expanding beyond perpetual contracts. Currently, perps constitute around 90% of trading volume, largely driven by Bitcoin (BTC), Ethereum (ETH), and Aster. In contrast, spot pairs are limited, with Aster claiming nearly 90% of that market.
The team also intends to support early-stage assets with new liquidity.
“One of the benefits of a DEX is the speed at which we can list assets. If we can provide immediate liquidity, that’s appealing to the market,” Leonard said.
Aster CEO hints at a ‘flexible’ token buyback
When asked about token buyback schedules, Leonard explained that the team believes in flexibility rather than a fixed timeline for potential buybacks, allowing operators and the community some control over investment decisions.
“We plan to implement buybacks and contribute a significant portion of our income. While the specifics and frequency will be announced, we don’t intend to establish a permanent schedule,” Leonard mentioned.
The Aster team will not follow a “predictable” buyback pattern. Unlike other projects with strict schedules for token buybacks, Aster aims to retain some flexibility in how income is reinvested, adjusting token buybacks at different project phases rather than committing to a permanent plan.
However, Leonard stressed the importance of transparency regarding buyback plans and income allocation percentages. If the community opposes any buyback decisions, the team will adjust accordingly.
“Post-buyback, all related information will be shared. It should be transparent and logged so everyone can monitor, as otherwise, it wouldn’t benefit anyone, right?” Leonard concluded.
