Aster (ASTER) is a next-generation decentralized perpetual exchange that has quickly become one of the hottest names in crypto trading in 2025. Launched after the merger of Astherus and APX Finance, Aster combines yield-generating products with advanced perpetual contracts to create a unified, capital-efficient DeFi platform.
Since its Token Generation Event (TGE) on September 17, 2025, Aster’s native token $ASTER has surged over 2,200%, trading at $2.32 with a $3.86B market cap on Sept 24, 2025. This rapid growth, paired with features like 1001x leverage, Pro Mode trading, and stock perpetuals, has made Aster one of the most discussed DeFi projects this year.
In this article, we’ll walk through what Aster DEX is, how it works, why it’s gaining attention in 2025, and provide an overview of its tokenomics along with key details from the recent TGE.
What Is Aster (ASTER)?
Source: Aster Official Site
Aster DEX is adecentralized perpetual exchange (Perp DEX) created in late 2024 through the merger of Astherus and APX Finance. The project combines Astherus’ yield-generating products with APX’s robust perpetuals infrastructure to build a one-stop platform for both traders and yield seekers.
At its core, Aster is designed to make derivatives trading simpler, faster, and more capital-efficient on-chain. The platform supports both spot and perpetual markets and runs across multiple networks including BNB Chain, Ethereum, Solana, and Arbitrum. Unlike many other DEXs, Aster also integrates its own yield-bearing assets such as liquid staking derivative asBNB and yield-bearing stablecoin USDF that can be used as trading collateral, allowing users to earn yield while keeping positions active.
By combining derivatives, yield, and multichain access, Aster positions itself as a next-generation DeFi infrastructure built to rival centralized exchanges.
How Does Aster Perp DEX Work?
Aster DEX operates through multiple modes and features that cater to different trading needs:
1. Pro Mode: Aster’s order book based interface comes with deep liquidity, multi-asset margin, and advanced tools like grid trading. It gives professional traders a CEX-like experience in DeFi, combining lower fees with full asset control.
2. Hidden Orders: A feature often compared to dark pools, Hidden Orders let traders place orders without revealing their size or presence in the book until execution, reducing slippage and front-running risks. The James Wynn episode on Hyperliquid, where his visible positions became a target, highlighted the downsides of on-chain transparency. This makes Hidden Orders attractive for whales, high-frequency traders, and anyone who wants privacy without sacrificing liquidity access.
3. 1001x Mode: A one-click, MEV resistant system powered by the ALP liquidity pool, offering up to 1001x leverage with fully on-chain execution. It caters to users who want maximum exposure in a transparent and decentralized environment, with oracles from Pyth, Chainlink, and Binance Oracle.
4. Stock Perpetuals: Aster enables 24/7 stock perpetuals, bringing traditional equities into DeFi. It opens the door for traders who want to move seamlessly between crypto and stocks on the same platform.
5. Yield Integration: Yield-bearing assets like asBNB and USDF can be used as collateral, letting users earn rewards while trading. This approach makes collateral more efficient by keeping it productive even during active trades.
Aster vs Hyperliquid: Which Perpetual DEX Is Winning in 2025?
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 $ASTER Crypto Token?
The $ASTER token is the native utility asset of Aster DEX. Rather than being just a tradable asset, it is designed to support the core functions of the platform and align long-term incentives between traders, liquidity providers, and the protocol itself.
Key Utilities of $ASTER
• Governance: Holders can vote on proposals that shape Aster’s future, from fee structures to new product launches and ecosystem upgrades.
• Trading Collateral and Fees: ASTER can be used as margin for perpetual trades and for paying fees, offering practical integration into the exchange.
• Incentives and Rewards: A significant portion of supply funds airdrops, loyalty programs, and liquidity incentives, rewarding active participation.
• Ecosystem Growth and Sustainability: ASTER allocations support grants, partnerships, and APX migration, while revenue buybacks create long-term value capture.
$ASTER Token Allocation
Source: Aster Docs
The distribution of $ASTER reflects Aster’s community-first approach, with the majority of supply dedicated to rewarding users and fueling ecosystem growth.
• Airdrop – 53.5% (4.28B): Rewards for traders and community members.
• Ecosystem & Community – 30% (2.4B): For APX migration, partnerships, and grants.
• Treasury – 7% (560M): Reserves for governance and growth.
• Team & Advisors – 5% (400M): Contributor allocation with cliff and vesting.
• Liquidity & Listings – 4.5% (360M): For exchange listings and market stability.
With over 80% of tokens tied to the community and ecosystem, Aster’s allocation is structured to reinforce utility rather than short-term speculation.
ASTER 1st Airdrop: From Sep 17 to Oct 17, 2025 - What You Need to Know
Aster officially launched its first airdrop alongside the Token Generation Event (TGE) on September 17, 2025, releasing a portion of the ASTER token supply to early users. Eligible participants included those who earned points through Aster Spectra, joined community campaigns, or held APX tokens prior to migration. The claim window remained open until October 17, 2025, allowing users to collect their tokens directly on Aster Spot or withdraw them to external wallets. This first airdrop reflected Aster’s community-first approach, rewarding loyal users and seamlessly transitioning APX holders into the new ASTER ecosystem.
ASTER Upcoming Airdrop: Stage 3 Dawn Starts October 6, 2025
Following the initial airdrop, Aster launched Stage 3: Dawn on October 6, 2025, marking the next phase of its reward program. This campaign introduces the Rh Points system, which rewards active users for trading, staking, and providing liquidity on Aster DEX. Points are calculated weekly and converted into ASTER rewards at the end of the campaign.
To prepare for future airdrops, users are encouraged to stay active on Aster DEX, participate in team missions, and monitor progress through the Aster Dashboard. Consistent activity ensures continued eligibility for upcoming distribution rounds as Aster expands its on-chain ecosystem.
Learn more about the ASTER airdrop and how to claim your ASTER tokens in our full step-by-step guide.
How to Buy and Trade ASTER on BingX
Whether you want to build a long-term ASTER position, trade short-term volatility, or capture opportunities after its TGE, BingX makes it simple with both spot and futures markets. With BingX AI built directly into the interface, you can also access real-time insights to support smarter decisions.
1. Buy or Sell ASTER on the Spot Market
If your goal is to accumulate ASTER or buy dips during pullbacks, the spot market is the simplest option.
Step 1: Go to the BingX Spot Market and search for ASTER/USDT.
Step 2: Before placing your order, click the AI icon on the chart to activate BingX AI. It will show support and resistance levels, detect breakout zones, and suggest optimal entry points.
Step 3: Choose between a market order for instant purchase or a limit order at your desired entry price. Once filled, your ASTER will appear in your BingX account balance, ready to hold or withdraw to an external wallet.
2. Trade ASTER with Leverage on Futures
For active traders, BingX Futures Market allows you to go long or short on ASTER with leverage, so you can benefit from both upward and downward moves.
Step 1: Search for ASTER/USDT in the BingX Futures section.
Step 2: Click the AI icon on the chart to activate BingX AI. It will analyze market momentum, volatility, and trend strength to guide your entry.
Step 3: Set your leverage, choose your entry price, and place a long (buy) or short (sell) order. Use stop-loss and take-profit levels to manage risk effectively.
What’s Next for Aster: Future Roadmap
Aster’s momentum in 2025 is only the start of its broader vision. The team is building Aster Chain, a high-performance Layer 1 designed to integrate zero-knowledge proofs for privacy and an intent-based system to automate execution across chains and liquidity sources. This would transform Aster from a single perp DEX into a base layer for decentralized derivatives.
Beyond the new chain, Aster plans to expand support for multi-asset and yield-bearing collateral, allowing traders to use assets like USDF or asBNB directly in margin accounts. This adds another layer of capital efficiency and positions Aster as one of the most flexible perp platforms.
On the user side, upgrades such as VIP tiers, fee discounts, and a mobile-first experience are in development, aiming to make professional-level trading tools more accessible to everyday users.
If delivered, these milestones could elevate Aster from a fast-growing exchange into a foundational layer of DeFi, bridging privacy, automation, and capital efficiency in one ecosystem.
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Frequently Asked Questions (FAQs) on Aster
1. When was the ASTER token launched?
The ASTER token was officially launched during its Token Generation Event (TGE) on September 17, 2025.
2. When was the ASTER Airdrop?
The Aster airdrop was conducted alongside its Token Generation Event (TGE) on September 17, 2025, marking the official launch of the ASTER token and distributing initial allocations to early users and community participants.
3. When is the upcoming Aster airdrop?
The next airdrop, Stage 3: Dawn, started on October 6, 2025. This phase uses a Rh Points system to reward active users for trading, staking, and providing liquidity on Aster DEX. Future reward rounds are planned, but no specific dates have been announced beyond this campaign.
4. What chain does Aster work on?
Aster is multichain, operating on BNB Chain, Ethereum, Arbitrum, and Solana, while the $ASTER token itself is a BEP-20 token on BNB Chain.
5. Which wallets support ASTER?
Any Web3 wallet compatible with BNB Chain/BEP-20 can store ASTER, including MetaMask, Trust Wallet, and hardware wallets like Ledger and Trezor.