#代币经济模型 Reviewing history, the design of token economic models has always been the key to the success or failure of projects. Aster's launch of the S3 Airdrop this time reminds me of similar attempts by some early projects. Back then, many projects would also adjust token supply and demand through buybacks and airdrops to stimulate market activity.

However, a closer examination of Aster's operations reveals some innovations. They chose to execute all buybacks on-chain, which undoubtedly increases transparency and helps build community trust. Moreover, linking airdrops with buybacks and prioritizing the distribution of tokens from buybacks achieves both incentivization and a certain degree of inflation control.

That said, the evolution of token economic models has been quite tumultuous. I remember during the bull market in 2017, everyone was pursuing a "deflationary model", believing that it would push up coin prices. In the bear market, however, there was a renewed emphasis on "utility value" and "token economy". It seems that neither extreme deflation nor excessive inflation can be sustained in the long term.

Aster's approach may represent a balanced thinking: tightening supply through buybacks and then stimulating demand through targeted Airdrops. Whether this method will be effective still needs time to test. However, it indeed reflects the project team's in-depth thinking on Token economics and a keen grasp of market cycles.

Looking back, those projects that have truly survived are often able to flexibly adjust their Token models at different stages. In contrast, those projects that remain stagnant and mechanically replicate have mostly disappeared in the long river of blockchain. This industry is constantly innovating, and we veterans must keep up with the times as well.