The brand new decentralized change Aster DEX has rapidly turn into the discuss of the crypto world over the previous month.
Its native token, ASTER, has been one of many market’s most explosive performers since launching on September 19, hovering practically 80× from its itemizing value to an all-time excessive of $2.42.
On Monday, Binance turned the most recent main change to record Aster, with the token already producing greater than $184 million in day by day spot buying and selling quantity.
In the meantime, the Aster DEX platform itself has been equally spectacular—recording over $2 trillion in whole buying and selling quantity and attracting greater than 3 million customers up to now. It has persistently outperformed Hyperliquid in day by day buying and selling quantity; over the previous 24 hours alone, Aster dealt with $32 billion, in comparison with Hyperliquid’s $9 billion.
Some customers are drawn to Aster for its multi-chain buying and selling capabilities, others for its 1001× leverage, and plenty of for the airdrop rewards.
This overview breaks down Aster’s key options, what’s driving its meteoric rise, and the way it stacks up in opposition to Hyperliquid and different rising perpetual futures exchanges comparable to CoinFutures.
What Is Aster DEX?
Aster DEX is a brand new decentralized change that mixes the perfect components of centralized and on-chain buying and selling.
It was created in 2024 by way of the merger of two BNB Chain initiatives, Astherus and APX Finance, bringing collectively spot and perpetual buying and selling beneath one platform. Whereas Astherus introduced multi-asset liquidity, APX contributed with a working decentralized perpetual buying and selling protocol.
The aim was easy: to construct a multi-chain DEX that delivers the velocity, liquidity, and leverage of a CEX whereas holding full on-chain transparency.
The undertaking rose to prominence after being incubated by YZi Labs, a enterprise agency beforehand affiliated with Binance Labs. Aster’s core group contains a number of former Binance builders who helped form its buying and selling structure and multi-chain design.
The change gained much more visibility when Changpeng Zhao (CZ) publicly endorsed it on social media, framing Aster as a next-generation DeFi undertaking rising from the BNB ecosystem. CZ claims that Aster DEX is simply as a lot a competitor to Binance as it’s to Hyperliquid.
Aster helps each spot and perpetual futures buying and selling with leverage as much as 1001x, alongside options like hidden orders to stop front-running and yield-earning collateral to make idle belongings productive. It operates throughout BNB Chain, Ethereum, Solana, and Arbitrum, providing flexibility unmatched by most rivals.
Aster DEX’s Distinctive Promoting Factors
Aster DEX has shot to fame on the backs of a number of spectacular options.
Stealth Buying and selling with Hidden Orders
One in every of Aster’s standout options is its hidden orders. In contrast to commonplace restrict orders on Hyperliquid that expose dimension and path within the mempool, hidden orders let customers place trades with out revealing the specifics. This curbs front-running, sandwich assaults, and leaked order stream, an particularly priceless edge in perpetual markets the place MEV behaviour is rampant.
Optimistic Execution + Fraud Proofs and ZK Prospects
Aster makes use of an optimistic execution mannequin the place transactions are accepted by default and later verified; if somebody spots an invalid batch, they submit fraud proofs to set off correction.
By assuming correctness up entrance, Aster DEX permits excessive throughput and low latency. Future integration of zero-knowledge proofs goals to scale back the reliance on disputes and additional improve safety and effectivity.
Multi-Chain Attain & Liquidity Aggregation
In contrast to many DEXs tied to 1 blockchain, Aster helps buying and selling throughout BNB Chain, Ethereum, Solana, and Arbitrum. That breadth permits liquidity and consumer flows from totally different ecosystems to converge in a single place.
Merchants don’t have to bridge belongings manually; collateral and positions traverse chains natively. This multi-chain design additionally helps with arbitrage, cross-chain yield seize, and reduces single-chain congestion dangers.
Nevertheless, Aster DEX does have plans to launch its personal chain, Aster Chain.
Excessive Leverage & Capital Effectivity
Aster helps leverage of as much as 1001x on choose markets, whereas permitting even spot and inventory investments.
Furthermore, it accepts each main stablecoins like USDT and USDC and native belongings comparable to USFD, ASBNB, and ASUSD, giving merchants extra choices to handle margin and threat.
Deposited collateral continues incomes yield by way of Aster’s inner swimming pools, permitting customers to generate passive returns whereas sustaining leveraged positions. This mixture of various collateral varieties, built-in yield, and ultra-high leverage makes Aster one of the capital-efficient decentralized exchanges at the moment working.
How Aster DEX Stacks Up To Hyperliquid?
It’s not with out cause that Aster DEX has surpassed Hyperliquid in buying and selling quantity. The brand new change does provide key benefits over Hyperliquid.
For starters, it helps main chains like BNB Chain, Ethereum, Solana, and Arbitrum, which permits it to attract liquidity and customers throughout ecosystems reasonably than being confined to 1.
Its hidden orders characteristic helps masks order dimension and path till execution, serving to defend merchants from front-running and MEV assaults, a characteristic Hyperliquid lacks.
Aster additionally accepts a broad set of collateral varieties (together with stablecoins and artificial belongings), which improves margin flexibility. Its vaults generate yield from collateral, so customers aren’t pressured to decide on between passive staking and buying and selling.
Nevertheless, Hyperliquid additionally has a number of benefits over Aster.
It was first to market and has constructed a fame for ultra-fast execution, because of its customized L1 infrastructure, which reportedly achieves sub-100 ms finality and handles excessive throughput with minimal latency.
Its order books are deep, and its price construction is optimized for high-frequency buying and selling. Hyperliquid’s tight spreads and stability beneath load entice skilled volumes. Its CLOB mannequin is battle-tested, which provides confidence in excessive volatility.
Finest Perpetual Futures Decentralized Exchanges: Hyperliquid, Aster DEX and CoinFutures
Whereas Aster DEX and Hyperliquid have captured consideration with their big volumes and superior options, CoinFutures is rapidly making its mark as an easier but highly effective different. It brings the leverage and velocity of a derivatives change with out the technical hurdles that often flip retail merchants away.
In contrast to Hyperliquid’s CLOB interface or Aster’s multi-chain complexity, CoinFutures runs fully contained in the CoinPoker app.
There’s no want to attach an exterior pockets or navigate fuel charges, and onboarding is on the spot with no KYC required. Merchants deposit straight into an inner CoinFutures pockets utilizing crypto like BTC, ETH, USDT, SOL, BNB and USDC or fiat strategies comparable to Visa, Mastercard, Apple Pay, Google Pay and PIX.
CoinFutures stands out for its as much as 1000x leverage, real-time bust value calculator, and built-in stop-loss and take-profit instruments that make threat administration easy.
Its Auto Mode and Shut Guess options assist merchants lock in earnings or exit shedding trades robotically, an enormous benefit in risky markets.
Whereas Aster and Hyperliquid concentrate on multi-chain liquidity or sub-second execution for skilled merchants, CoinFutures focuses on on a regular basis customers who need to speculate on value strikes with as little friction as potential.
This mixture of excessive leverage, intuitive design, and powerful threat controls is why CoinFutures is quickly rising as the most effective perp decentralized exchanges in the marketplace.
Go to CoinFutures
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