Aster (ASTER) is a next-generation decentralized perpetual exchange (Perp DEX) created in late 2024 through the merger of Astherus and APX Finance. Built to rival giants like Hyperliquid, Aster combines Astherus’ yield-generating products with APX’s perpetual trading infrastructure to deliver a unified, on-chain trading experience.
The platform offers perpetual contracts, spot trading, yield products, and even 24/7 stock perpetuals, all across multiple chains including BNB Chain, Ethereum, Solana, and Arbitrum. Backed by YZi Labs and supported publicly by CZ, Aster has quickly become one of the most anticipated DeFi launches of 2025.
Following its September 17 Token Generation Event (TGE), $ASTER surged from $0.08 to $2.26, climbing more than 2,700% in just over a week. The token now holds a market cap of about $3.74 billion, with the airdrop claim window open until October 17, 2025. This rapid growth has made Aster one of the most closely watched projects in DeFi, as traders speculate whether it could become the “next Hyperliquid.”
What Is Aster DEX and How Does It Work?
Source: Aster Official Site
Aster DEX is a multi-chain decentralized perpetual exchange that allows users to trade crypto and stock perpetual contracts with deep liquidity and ultra-low fees. After merging Astherus (yield products) and APX Finance (perp trading), Aster delivers a one-stop platform that blends trading, earning, and staking into a seamless on-chain experience.
The exchange offers four main trading modes:
• Pro Mode: A full order book interface with 0.01% maker / 0.035% taker fees, advanced tools like grid trading and hidden orders, and support for multi-asset margin across BNB Chain, Ethereum, Solana, and Arbitrum.
• 1001x Mode (Simple): a streamlined, MEV-resistant one-click trading system with leverage up to 1001×, powered by the ALP liquidity pool and oracles from Pyth, Chainlink, and Binance Oracle.
• Dumb Mode: a price prediction game for short-term forecasts.
• Yield Products: liquid staking derivative asBNB and yield-bearing stablecoin USDF, providing collateral flexibility.
Together, these innovations position Aster as a high-performance, community-first DeFi exchange that directly challenges centralized platforms and leading perp DEXs.
Aster Becomes a Leading Challenger in the Perp DEX Landscape in 2025
The decentralized derivatives market is booming, and Aster has quickly become one of its standout projects. Three factors explain why it is drawing so much attention this year:
Cumulative trading volume on Hyperliquid perps has reached a mind-boggling $2.5T | Source: DefiLlama
1. DeFi Derivatives Grow over 650%, Hitting $408B Milestone
DeFi perpetuals have surged over 650% year-on-year, with Hyperliquid (HYPE) dominating the market, and Aster (ASTER) and MYX Finance (MYX) emerging as strong challengers. The overall perp DEX sector has now surpassed $408B in cumulative trading volume, highlighting the rapid expansion of on-chain derivatives. In this landscape, Aster is gaining attention with features like 24/7 stock perpetuals and 1001x leverage, positioning itself as one of the most competitive new platforms to watch.
2. $ASTER Surges 2,700% Post-TGE, Market Cap Hits $3.75B
Since its TGE on September 17, 2025, ASTER has skyrocketed from $0.08 to around $2.27 by Sept 24, giving it a multibillion-dollar market cap. Strong community demand, paired with visibility from Binance founder CZ, helped fuel this surge.
3. Hidden Orders and High Leverage Boost Trader Adoption
Aster differentiates itself with advanced features like Pro Mode, high-leverage trading, and Hidden Orders, which function like dark pools by concealing order details until execution. This appeals to professional traders who want stealth execution and efficiency, especially after high-profile episodes in the perp trading scene highlighted the risks of full transparency.
What Is the ASTER Crypto Tokenomics?
$ASTER Token Utilities
ASTER is the core asset of the Aster ecosystem. It supports governance participation, rewards traders and liquidity providers, incentivizes community engagement, and channels protocol revenue into buybacks that benefit long-term holders. The token anchors ecosystem stability and ensures users share in Aster’s growth.
$ASTER Token Allocation
Source: Aster Docs
• Total supply: 8,000,000,000 ASTER
• Airdrop: 53.5% or 4.28 billion tokens for community rewards and incentives.
• Ecosystem and Community: 30% or 2.4 billion tokens for migration, grants, marketing, and liquidity.
• Treasury: 7% or 560 million tokens for growth initiatives and reserves.
• Team: 5% or 400 million tokens with a one-year cliff and 40-month vesting.
• Liquidity and Listings: 4.5% or 360 million tokens to support exchange listings and liquidity.
At the Token Generation Event on September 17, 2025, 704 million ASTER (8.8% of supply) was unlocked for eligible users, with the remainder distributed gradually through vesting and rewards.
Steps to Claim Your Airdrop $ASTER Tokens from Sep. 17 - Oct.17, 2025
ASTER Airdrop Key Dates
• TGE Unlock: 704 million ASTER (8.8% of supply) on September 17, 2025.
• Claim Window: Open from September 17 to October 17, 2025.
• Unclaimed Tokens: Redirected to the community rewards pool after October 17.
Who's Eligible for ASTER Airdrop?
Eligible users include those who earned Rh or Au Points in Aster Spectra Stages 0 and 1, received Aster Gems from community campaigns, or traded on Aster Pro after Stage 1 to earn loyalty rewards.
How to Claim Your $ASTER Token: A Step-by Step Guide
Step 1: Check Eligibility: From September 11, go to the official Aster Airdrop page and connect your wallet to verify eligibility.
Step 2: Claim Tokens: Starting September 17, log into your Aster account using your wallet, click the “Claim” button, and eligible ASTER will be credited instantly.
Step3: Verify Balance: Go to the "Aster Spot" and find "Assets" section to confirm the amount of ASTER received.
Step 4: No Wallet Approval Needed: The claim requires no approvals or gas fees. Be cautious of phishing sites that ask for authorization or private keys.
Upcoming Aster Airdrop: Stage 3 Dawn Begins on October 6, 2025
After Stage 2: TGE, the next phase of Aster’s reward campaign, Stage 3: Dawn, began on October 6, 2025. This stage introduces a new Rh Points system that rewards users for trading, staking, and providing liquidity on Aster DEX. Points are calculated weekly in “epochs,” and total rewards will be distributed after the campaign ends.
How to Prepare for Future Airdrops
• Trade regularly: Activity across Spot and Perpetual markets helps build Rh Points.
• Provide liquidity: Add assets to pools to earn additional multipliers.
• Join teams: Team missions can further boost individual point rewards.
• Stay engaged: Track your points and rankings in the Aster Dashboard to remain eligible for future distributions.
Future reward rounds are part of Aster’s long-term roadmap, so maintaining consistent participation helps secure early access to upcoming campaigns.
APX to ASTER Migration: How to Swap $APX for $ASTER Tokens
Aster was created through the merger of Astherus and APX Finance, bringing APX token holders into the new ecosystem. To ensure a smooth transition, APX holders can upgrade their tokens to $ASTER on the official Aster Exchange page. The conversion happens over several cycles, with the exchange ratio decreasing over time, so earlier swaps receive more ASTER.
Step 1: Deposit APX: Go to APX Token Exchange Page, log in to your Aster account by connecting your wallet, and deposit APX into your Spot account.
Step 2: Swap Tokens: On the exchange page, enter the amount of APX you want to convert and click Exchange.
Step 3: View Balance: Your ASTER tokens will be credited instantly to your Spot account, where they can be traded or withdrawn at any time.
Important Note: The exchange rate decreases over time, so users are encouraged to complete the swap early to receive the best conversion ratio.
For those who staked APX in the APX DAO, you’ll need to unlock your tokens first before swapping them for ASTER. Rewards in the DAO ended on September 11, and a penalty-free unlock became available from September 16.
How to Trade $ASTER on BingX?
Aster is one of the most anticipated perpetual protocol launches of 2025, and BingX makes it simple to trade $ASTER through both spot and futures markets. With BingX AI providing real-time insights, traders can make more informed decisions whether building long-term positions or trading short-term volatility.
Step 1: Find Your Trading Pair To buy and hold, go to the Spot Market and search for ASTER/USDT. To trade with leverage, go to the Futures Market and search for ASTER/USDT Perpetual.
Step 2: Analyze with BingX AI Click the AI icon on the trading page to access BingX AI. The tool highlights price trends, support and resistance levels, and market signals, helping you evaluate entry and exit points more effectively.
Step 3: Execute and Monitor Your Trade Place a market order for instant execution or a limit order at your desired price. Keep monitoring BingX AI for updates as market conditions change, and adjust your position accordingly.
With BingX and BingX AI, trading $ASTER becomes more accessible and data-driven, whether you are building a long-term position or taking advantage of short-term volatility.
Final Thoughts: What's Next for Aster
Aster has already made a strong debut with its record-breaking TGE and rapid trading growth, but the project’s ambitions extend far beyond its current features. The roadmap points to a deeper evolution of the platform.
The team is building Aster Chain, a high-performance Layer 1 designed to support privacy through zero-knowledge proofs and enable smoother execution with an intent-based trading system that can automate orders across multiple chains and liquidity sources. These upgrades aim to make Aster not only a trading venue but also a foundational layer for decentralized derivatives.
If delivered, these milestones could transform Aster into one of the most complete infrastructures in DeFi, blending advanced perp trading with scalable on-chain automation. For now, the airdrop and trading momentum have cemented its place as a rising challenger, while the roadmap suggests that the most significant growth may still be ahead.
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Frequently Asked Questions (FAQs) on ASTER Airdrop
1. When is the $ASTER airdrop?
The first Aster airdrop was held together with the project’s Token Generation Event (TGE) on September 17, 2025. This completed Stage 2 – Genesis, which rewarded early traders, liquidity providers, and community participants for their contributions before the token launch.
2. Will there be more ASTER airdrops?
Yes. Aster launched Stage 3 Dawn on October 6, 2025, as the next phase of its reward campaign. This stage uses a points-based system called Rh Points to reward active traders, stakers, and liquidity providers on Aster DEX. The documentation also notes that more reward initiatives are planned, though no new stage timeline has been announced yet.
3. How can users qualify for the next airdrop?
Eligibility for Stage 3 Dawn is based on on-chain activity. Users can earn Rh Points through trading, staking, and liquidity provision. Points are calculated weekly in “epochs” that run from Monday 00:00 UTC to Sunday 23:59 UTC. Rewards will later be distributed based on the total points earned during the campaign period.
4. Where will official airdrop announcements be made?
All updates will be published exclusively through Aster’s official X account (@Aster_DEX) and the verified claim portal on the Aster DEX website. Users are advised to avoid third-party claim links or unofficial campaigns.