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 Rivals Hyperliquid in the DEX Landscape: Here's Why
The decentralized derivatives market has become the fastest-growing sector in DeFi, and Aster is at the center of this shift. From record-breaking trading volumes to heavyweight endorsements and product breakthroughs, several factors explain why Aster is drawing outsized attention in 2025.
1. Perpetual Market Surges 654%, Hitting $408B Cumulative Volume
Cumulative trading volume on Hyperliquid perps has reached a mind-boggling $2.5T | Source: DefiLlama
The DeFi derivatives sector has soared 654% year-on-year, reaching nearly $18.9B in market cap by late August 2025, with perpetuals making up more than $17.9B of that total. On the trading side, the perp DEX market has now surpassed $408B in cumulative volume. Hyperliquid (HYPE) continues to dominate with 70–80% market share and over $350B in monthly volume, while challengers like MYX Finance (MYX) and Aster are gaining traction with features such as 24/7 stock perpetuals and 1001x leverage.
2. $ASTER Skyrockets Over 2,700% After TGE With CZ’s Endorsement
Aster, incubated by YZi Labs, gained strong momentum after CZ publicly shared its chart shortly after launch, sparking additional attention from traders and the wider DeFi community. Since its Token Generation Event (TGE) on September 17, 2025, $ASTER has surged from $0.08 to $2.26, a rise of more than 2,700% in just over a week. The token now holds a market cap of $3.74 billion, underscoring its rapid emergence as one of the most closely watched assets in the perp DEX sector.
3. Pro Mode, 1001x Mode, and Stock Perps Redefine the DEX Experience
Beyond hype, Aster differentiates itself through product innovation. Pro Mode offers a deep-liquidity order book with multi-asset margin and advanced tools like grid trading and hidden orders. The hidden order function lets traders conceal large positions until execution, reducing market impact and providing functionality similar to a dark pool. Meanwhile, 1001x Mode delivers MEV-resistant, one-click leverage up to 1001x, making it easy for users to access extreme leverage transparently on-chain. On top of crypto perpetuals, Aster introduced stock perpetuals, bridging TradFi exposure with decentralized trading. Coupled with yield products like asBNB and USDF, Aster creates a capital-efficient ecosystem that blends trading, earning, and collateral flexibility.
What Is the ASTER 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 After Sep. 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?
• Participants who earned Rh or Au points in Aster Spectra Stage 0 and 1.
• Users who received Aster Gems from community or partner initiatives.
• Traders who used Aster Pro after Stage 1 and earned 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.
APX Token Upgrade: 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.