Aster CEO Refutes CZ Control Claims Amid Token Supply and Utility Questions

TLDR

• Aster has burned 78M tokens and promises to burn 98M more from buybacks.

• Leonard denies CZ or Binance controls Aster, says buybacks are verifiable.

• Airdrops S4–S6 remain pending, raising questions about future price pressure.

• Community member StrongHedge says tokenomics devalue ASTER and lack utility.

The CEO of Aster, Leonard, has issued a public response addressing community concerns and allegations of insider dumping and misaligned tokenomics. The post comes amid ongoing debates about Aster’s market position, its relationship with Binance, and its future plans.

Leonard stated that accusations involving Binance founder CZ and the Aster project are unfounded. He clarified that while Yzi Labs, an investor linked to CZ, holds a stake in Aster, the project is independently operated.

Aster Token Emissions and Buyback Claims Under Scrutiny

The community has raised concerns about Aster’s ongoing airdrops and the impact of emissions on market price. Critics argue that emissions have exceeded those of comparable projects like HYPE, despite Aster being newer.

In response, Leonard pointed to on-chain data showing 254 million tokens bought back and 78 million burned so far. He also noted that an additional 98 million tokens are scheduled for burning and that buybacks are now automated and transparent via a community-built dashboard.

However, critics such as X user @StrongHedge have countered that the airdrops act as “delayed dumps” and negate the effect of the buybacks. He wrote,

Community Divided Over Project Direction and Token Utility

A key point of contention is whether the Aster project has effectively aligned incentives with its community. Critics say Aster used its early supporters as “exit liquidity,” unlike competitor HYPE, which is seen as more community-driven.

Leonard acknowledged frustration about price performance but said utility is being built. Upcoming product releases include a privacy-focused Layer 1, staking features, and interface upgrades. These developments are expected by March.

To ease concerns over emissions, Aster has paused its monthly 1% unlocks until staking is live. Leonard also stated that Season 6 will be the final airdrop season and future supply growth will slow considerably.

Rivalry with HYPE and Market Sentiment Challenges

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

According to critics, those remarks fueled expectations that have not materialized. HYPE now commands a market size six times larger than Aster, and its performance has intensified scrutiny on Aster’s execution.

ASTER token remains under pressure, with its token trading near all-time lows. Leonard said the team remains committed to building and invited users to participate in shaping the project’s future via its Discord community.