Buyback Radar

Aster ASTER

Payout off peakRank#51▲1Score11

Paid to holders this week: 38% of the best week in 90 days ($665k against $1.8M). Also: our research found the buyback stopped.

Dexs, BSC, Aster, Off Chain, 148 days of data

Market cap

$1.69B

price $0.652 · 7d −7.7% · 30d −4.7%

FDV $5.08B (3.0× market cap)

source defillama

Buyback revenue / year

$33.6M

holders revenue of the last 30 days, $2.8M, × 365 ÷ 30

Buyback + burnbuyback share n/a

Our research found the buyback stopped; DefiLlama still counts 2.0% of the market cap a year.

Multiple

50.2×

peer median 19.5× (Dexs, 13 tokens), against 50.2× here

Run-rate

48.7×

last 7 days $665k × 52 = $34.6M a year

last week's payout in line with the 30-day pace

What we checked

  1. Valuation

    Multiple 50.2×, 2.6× more expensive than its Dexs peers (median 19.5×, 13 tokens). The group's largest earner Uniswap trades at 37.3×: 1.3× dearer per dollar returned to holders.

  2. Distribution

    Buyback + burn: Revenue buys the token on the market and the bought tokens are burned. Holders got $2.8M of — revenue in 30 days. DefiLlama: “Token Buy Back: Aster tokens purchased by the protocol treasury through TWAP for strategic buybacks, funded by accumulated platform fees.”

  3. Sustainability

    Holders were paid on 30 of 30 days (100%); largest single day 9% of the month's holders revenue; paid to holders this week: 38% of the best week in 90 days (more than half below peak). Revenue — over 7 days and — over 30 days, price −5% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

  • Revenue definition deviatesthe DefiLlama revenue definition of a child deviates from the standard; buyback share is indicative
  • Payout >50% below peakthis week's holders revenue is 38% of its best week in the last 90 days ($1.8M)
  • Insufficient history147 days of data; g7, g30, day_jump, divergence not computable yet and scored as neutral 50
  • Partly off-chain“Off Chain” next to other chains and not verified on-chain (penalty −10)

How the buyback really works

Researched Nov 1, 2026 · 6 wallets: 2 high, 2 medium, 2 low confidence

  1. The moneyPaid from ongoing revenue
  2. The buyerRevenue is paid out to stakers
  3. The tokensBought tokens go to stakers

The project says 99% of its fees goes to buybacks. Our research found the buyback was changed or stopped; see the highlighted red flag.

On-chain: not measurable with our sources (buybacks run on Aster Chain (aster_spotUserFills), which this verifier does not support).

Method: not measurable: buybacks run on Aster Chain (aster_spotUserFills), which this verifier does not support. Checked November 12, 2026.

Red flags 6

  • Buyback stopped: The program changed form often: BSC burn buyback stopped on 2026-02-03, Stage 6 announced on 2026-02-03 (up to 80%, auto plus strategic wallet), and the upgrade of 2026-06-17 (99% to veASTER).
  • The 'equal burn from reserve' comes from the reserve, not from market purchases. It is not a revenue-funded buyback.
  • Verifiability depends on a custom RPC method on Aster's own chain with a privacy flag ('accountPrivacy'). If the team turns it on, visibility disappears.
  • Claim of 99% of 'daily platform fees' versus the DefiLlama measurement: buybacks are ~60% of measured fees. Probably net fees are meant, but this has not been published.
  • The TWAP is executed off-chain by the team from an ordinary wallet. The purchased ASTER goes to stakers and can be sold again.
  • Team cliff extended to 2027-09-17, then 10M ASTER per month.
Buyback wallets 6
Sources 7

Open the buyback wallets in their explorer and look for regular purchases of the token.

Check it yourself (technical)

Send a JSON-RPC POST to https://tapi.asterdex.com/info with method 'aster_spotUserFills' and params ["0xa0edBaBcb48034e368de286b49F9603C7AfA1b60", null, fromMs, toMs, "latest"] (the same method as fees/aster-spot). The maximum is 1000 fills per response, so work per day or smaller. Sum qty*price for symbol=ASTERUSDT with side=BUY and check SELL separately. Verifier check 2026-10-31: the API responds, accountPrivacy='disabled', with continuous BUY fills of ~144 ASTER at ~$0.70, roughly every 70-80 s. Measure reserve burns separately via the totalSupply delta of ASTER on BSC (0x000ae314e2a2172a039b26378814c252734f556a) and do not count them as buybacks.

Holders revenue / revenue (30d)
$2.8M / —
last 30 closed days
To holders
Our research found the buyback stopped; DefiLlama still counts 2.0% of the market cap a year
FDV / dilution
$5.08B / 3.0×
FDV ÷ market cap
Price 7d / 30d
−7.7% / −4.7%
Revenue growth 7d / 30d
— / —
versus the period before
Divergence
—
revenue growth minus price growth, 30d
DEX liquidity
$3.2M
DexScreener, representative pools
24h volume
$99.8M
all markets, CoinGecko
Unlocks 30d
$7.9M
DefiLlama vesting schedule; next unlock Nov 29: $1.5M
Revenue multiple
∞
market cap ÷ revenue per year
Fee multiple
33.6×
market cap ÷ fees per year
Distance to peak
38%
this week ÷ best week of 90 days
Data since
Jun 17
first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)

Multiple over time

today 50.2× (scored) · peer median 19.5×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

No signals for this token yet.

Versus peers

Dexs · 13 tokens · median multiple 19.5× · Uniswap is valued 2.2× higher. Per dollar that counts for holders, Aster is 1.3× dearer.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
TokenDistributionMultipleRevenue multipleBuyback shareTo holders 30dMarket capRev. growth 30d
Pharaoh Exchangeve / bribes0.3×0.2×100%$1.3M$2.6M−52%
RamsesXMixed0.7×0.5×97%$368k$2.2M+8%
nestDistribution0.8×0.4×100%$869k$4.4M+32%
upve / bribes2.0×1.0×100%$313k$3.9M−68%
ChainflipBuyback + burn5.4×5.4×100%$520k$34.4M+59%
Aerove / bribes8.7×4.0×96%$7.4M$372.0M−6%
PancakeSwapBuyback + burn19.5×12.8×65%$2.4M$563.6M−29%
RaydiumBuyback27.1×16.8×62%$1.3M$425.4M−65%
Curve Financeve / bribes29.3×11.1×94%$2.6M$374.4M+44%
UniswapleaderBuyback + burn37.3×37.3×100%$8.2M$3.71B−20%
OrcaBuyback47.8×7.9×16%$130k$75.6M−36%
Asterthis tokenBuyback + burn50.2×∞—$2.8M$1.69B—
MeteoraDistribution180×5.2×18%$458k$161.9M−60%
Score build-up11 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

11of 100#51▲1top 100% one or more parts are the neutral 50
Valuation 3.4Momentum 12.5Divergence 10.0Quality 14.6penalties −30= 10.6
Valuation35%
10Valuation 9.8: HR half 19.7 (multiple 50.15×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 0.0 (revenue peer value n/a (revenue multiple null) → 0; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.
Momentum25%capped
50Momentum 50.0 (neutral): g7 unknown, g30 unknown; missing history gives the neutral 50.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.
Divergence20%capped
50Divergence 50.0 (neutral): d unknown (missing history).d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.
Quality20%
73Quality 73.2: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 9% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.38 → 19.6 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).
  • Penalty −15 (unlocks_above_hr30): unlocks next 30d $7.90M above HR30 $2.76M.
  • Penalty −5 (dilution_above_2): dilution ratio 3.02 above 2.
  • Penalty −10 (off_chain_mixed): "Off Chain" next to other chains, not verified on-chain.

HR7 is below 50% of its 90-day peak: momentum and divergence are capped at 50. This is not a penalty; the distance already counts in quality.

Penalties−30

−15Unlocks in the next 30 days above HR30unlocks next 30d $7.90M above HR30 $2.76M
−5Dilution ratio above 2dilution ratio 3.02 above 2
−10Off Chain next to other chains, not verified on-chain"Off Chain" next to other chains, not verified on-chain

7 rules not applied, 3 wait for research data.

Where the numbers come from
Revenue source
2 active children
DefiLlama adapter per child
Price and market cap
defillama / defillama
latest fetch
Scored on
November 11, 2026
as-of date of the last compute run
On-chain verified
not measurable
checked Nov 12
Protocols behind this token2 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

  • Aster Spot
    Dexs · BSC, Aster
    type buyback-burn · source label
    “Token Buy Back: Aster tokens purchased by the protocol treasury through TWAP for strategic buybacks, funded by accumulated platform fees.”

    Aster token strategic buybacks from platform fees. Used to be burnt before Feb 2nd, 2026; from Jun 17th, 2026, 99% of daily platform fees buy back ASTER via TWAP on Aster Spot (wallet 0xa0edBaBcb48034e368de286b49F9603C7AfA1b60) and are distributed to veASTER stakers; an equal amount which is burned from reserve is not included as they are not sourced from revenue..

    Token Buy Back
    Aster tokens purchased by the protocol treasury through TWAP for strategic buybacks, funded by accumulated platform fees. Pre-Feb 2nd 2026: burnt. From Jun 17th 2026: measured as ASTERUSDT BUY fills by the public buyback wallet on Aster Chain.
    adapter on GitHub ↗
  • Aster Perps
    Derivatives · Off Chain
    type unclear · source text
    “Fees going to governance token holders”

    Fees going to governance token holders

    adapter on GitHub ↗