Verify a decision

{"actor":"system:backfill","investigation_id":"9b492674-6906-480f-abf4-7dde81173705","kind":"publish","page_slug":"aster","published_at":"2026-05-14T06:02:06.584Z","sequence_num":3,"snapshot":{"content_type":"investigation","entity_name":"Aster (ASTER)","sections":[{"content":"Aster (ASTER) is a decentralized perpetuals exchange (perp DEX) distinct from Astar Network (ASTR), a Polkadot parachain founded in 2019. Despite the similarity of names, searches, and market listings frequently conflate the two. Astar Network was formerly known as Plasm Network, rebranded to Astar in September 2021, and launched on Polkadot's mainnet in January 2022. Aster DEX, by contrast, originated from the merger of Astherus — a multi-asset liquidity and yield protocol — and APX Finance, a BNB Chain-based decentralized perpetuals protocol, with the merger completed in late 2024 and the Aster brand launched March 31, 2025. The ASTER token launched at TGE on September 17, 2025, at $0.08 per token. The entity under investigation here is the Aster DEX / Aster Chain protocol.","heading":"Entity Overview and Name Confusion","severity":"low","sources":[{"credibility":2,"name":"CoinGecko: What Is Aster Crypto — Decentralized Perpetuals Exchange","type":"research","url":"https://www.coingecko.com/learn/what-is-aster-crypto-decentralized-perpetuals-exchange"},{"credibility":2,"name":"CoinMarketCap: Aster (ASTER) Live Price","type":"other","url":"https://coinmarketcap.com/currencies/aster/"},{"credibility":2,"name":"Wikipedia: Astar Network","type":"research","url":"https://en.wikipedia.org/wiki/Astar_Network"}]},{"content":"Astherus was founded in 2024 and is nominally headquartered in Hong Kong. APX Finance (formerly ApolloX Finance) launched in 2021 as a BNB Chain-based decentralized perpetuals platform. In late 2024, Astherus and APX Finance announced a strategic merger, with APX tokens being swapped 1:1 for the new ASTER token. The combined entity rebranded as Aster and launched the unified platform on March 31, 2025, followed by its token generation event (TGE) on September 17, 2025. The ASTER token reached an all-time high of $2.42 on September 24, 2025, and a peak fully diluted valuation reportedly exceeding $7 billion before retreating significantly. Aster Chain, a privacy-focused Layer 1 blockchain using Proof-of-Staked Authority (PoSA) consensus, is a planned addition to the ecosystem with testnet targeted for late 2025 and mainnet launch targeted for Q1 2026.","heading":"Founding, Merger, and Corporate History","severity":"low","sources":[{"credibility":2,"name":"MEXC: What is Aster (ASTER Token) — Complete Guide","type":"news_article","url":"https://www.mexc.com/learn/article/what-is-aster-aster-token-complete-guide-to-the-revolutionary-defi-crypto/1"},{"credibility":3,"name":"AMA Recap: Inside the Aster Rebrand, April 3, 2025 — Medium (AsterDEX)","type":"other","url":"https://medium.com/asterdex/ama-recap-inside-the-aster-rebrand-apr-3-2025-a69aa3e8e522"},{"credibility":2,"name":"Aster Official Docs","type":"official","url":"https://docs.asterdex.com/"},{"credibility":2,"name":"ChainCatcher: APX Finance and Astherus merger announcement","type":"news_article","url":"https://www.chaincatcher.com/en/article/2155440"}]},{"content":"The Aster team operates under a largely pseudonymous structure. The CEO is known only as 'Leonard,' whose real identity has not been publicly disclosed. His social media profile depicts a hooded figure with no verifiable professional history or credentials provided. A second public-facing team member referred to as 'Ember' handles product communications. Several team members are described as former Binance or BNB Chain employees, but their identities are not confirmed. This anonymity limits accountability and is a commonly cited risk factor for the protocol by external analysts. The absence of doxxed founders means there is no known legal or regulatory point of contact for users who experience losses.","heading":"Team and Leadership Transparency","severity":"high","sources":[{"credibility":2,"name":"CCN: Behind Aster's Rise Is Its Mysterious CEO, Known as 'Leonard'","type":"news_article","url":"https://www.ccn.com/news/crypto/behind-asters-rise-is-its-mysterious-ceo-known-simply-as-leonard/"},{"credibility":2,"name":"Yahoo Finance: Behind Aster's Rise Is Its Mysterious CEO","type":"news_article","url":"https://finance.yahoo.com/news/behind-aster-rise-mysterious-ceo-132547919.html"}]},{"content":"Aster's predecessor Astherus received a strategic investment from YZi Labs in November 2024. YZi Labs (formerly Binance Labs) is the venture capital arm of Binance co-founders including Changpeng Zhao, managing a fund of over $10 billion. CZ publicly endorsed the project and confirmed an advisory role limited to product and technology guidance — explicitly excluding regulatory matters — in a clarification made during an X Spaces session on September 27-28, 2025. CZ later purchased 2 million ASTER tokens in November 2025, which triggered approximately a 20% price surge. The YZi Labs minority stake, combined with CZ's visible endorsements and personal token purchases, has been flagged by analysts as generating outsized market influence relative to the project's fundamentals. The reliance of the platform's USDF stablecoin on Binance's operational continuity for yield generation further deepens the structural interdependency with Binance.","heading":"Backing: YZi Labs and CZ Involvement","severity":"medium","sources":[{"credibility":2,"name":"CZ Clarifies Advisory Role with Perpetual DEX Aster — TechStory","type":"news_article","url":"https://techstory.in/cz-breaks-silence-clarifies-advisory-role-with-perpetual-dex-aster/"},{"credibility":1,"name":"CoinDesk: ASTER Zooms 20% as Binance's CZ Purchases 2M Tokens","type":"news_article","url":"https://www.coindesk.com/markets/2025/11/02/aster-zooms-20-as-binance-s-cz-purchases-2m-tokens"},{"credibility":2,"name":"CZ's Advisory Role in Aster DEX Ignites Market Frenzy — Financial Content","type":"news_article","url":"https://markets.financialcontent.com/wral/article/marketminute-2025-9-28-czs-advisory-role-in-aster-dex-ignites-market-frenzy-and-reshapes-defi-landscape"}]},{"content":"On October 5, 2025, DeFiLlama co-founder 0xngmi announced that the platform was removing Aster's perpetual futures volume data from its rankings. The decision followed detection of trading volumes that mirrored Binance perpetuals nearly 1:1 across multiple pairs including XRP/USDT and ETH/USDT, a correlation pattern described as 'very, very suspicious.' Aster had reported approximately $100 billion in cumulative perpetuals volume at the time. 0xngmi stated that DeFiLlama lacked access to lower-level order book data (maker/taker data) from Aster's API to independently verify whether wash trading had occurred, and characterized any continuation of listing as 'taking Aster's word for it.' The ASTER token dropped approximately 10% following the announcement. Aster CEO Leonard responded that the correlation could be attributed to 'airdrop farming' — traders hedging Aster positions on Binance to maximize Season 2 airdrop rewards based on volume and open interest metrics. Aster was relisted on DeFiLlama on approximately October 19, 2025, at the project's request while a new verification system was described as under development. 0xngmi stated at the time of relisting that Aster remained 'a black box and we can't verify the numbers.' The underlying data integrity question was unresolved as of the relisting, according to multiple outlets.","heading":"Wash Trading Allegations and DeFiLlama Delisting","severity":"critical","sources":[{"credibility":1,"name":"Yahoo Finance: DefiLlama to Delist Aster Volume Data Over Suspected Wash Trading","type":"news_article","url":"https://finance.yahoo.com/news/defillama-delist-aster-volume-data-101345708.html"},{"credibility":1,"name":"The Block: Aster's token drops 10% after DeFiLlama raises wash trading concerns","type":"news_article","url":"https://www.theblock.co/post/373458/asters-token-drops-10-after-defillama-head-raises-wash-trading-concerns-delists-perpetuals-data"},{"credibility":1,"name":"CoinDesk: XRP Volumes on Aster DEX Mimic Those on Binance","type":"news_article","url":"https://www.coindesk.com/markets/2025/10/06/xrp-volumes-on-aster-dex-mimic-those-on-binance-putting-focus-on-the-market-s-current-obsession"},{"credibility":2,"name":"DL News: Aster's $100bn perp volume was 'suspicious'. But was it fake?","type":"news_article","url":"https://www.dlnews.com/articles/defi/aster-perp-volume-scrutinized-amid-defillama-delisting/"},{"credibility":2,"name":"CCN: Aster Back on DeFiLlama, But Wash-Trading Fallout Still Not Resolved","type":"news_article","url":"https://www.ccn.com/news/crypto/aster-defillama-washtrading-fallout/"},{"credibility":2,"name":"CryptoPotato: DeFiLlama Delists Aster's Perpetual Futures Data Following Wash Trading Suspicions","type":"news_article","url":"https://cryptopotato.com/defillama-delists-asters-perpetual-futures-data-following-wash-trading-suspicions/"},{"credibility":2,"name":"BeInCrypto: DeFiLlama Relists Aster Perpetual Data, But There's a Catch","type":"news_article","url":"https://beincrypto.com/defillama-relists-aster-perpetual-data/"}]},{"content":"According to on-chain analysis cited by CoinGecko and other reviewers, as few as six wallets reportedly control approximately 96% of the 8 billion ASTER token supply, with one wallet alleged to hold approximately 44.7% of all tokens. This extreme concentration creates significant whale manipulation risk and potential for sharp price declines if major holders sell. The full token unlock schedule extends to 2032, with the team allocation locked for 12 months then released linearly over 40 months. In March 2026, Aster significantly reduced monthly token unlock amounts — from approximately 78.4 million per month to between 1.8 and 2.25 million per month — a 97% reduction that the project described as a transition from linear vesting to a staking emission model. This reduction in unlock rate may reflect an effort to manage sell pressure, though it also altered the terms from the original tokenomics.","heading":"Token Concentration and Supply Risks","severity":"high","sources":[{"credibility":2,"name":"CoinGecko: What Is Aster Crypto — Decentralized Perpetuals Exchange","type":"research","url":"https://www.coingecko.com/learn/what-is-aster-crypto-decentralized-perpetuals-exchange"},{"credibility":2,"name":"Tokenomist: Aster (ASTER) Tokenomics and Vesting Schedule","type":"research","url":"https://tokenomist.ai/aster-2/tokenomics"},{"credibility":2,"name":"CoinLaunch: The Aster (ASTER) Phenomenon — Real Value or Bubble?","type":"research","url":"https://coinlaunch.space/blog/the-aster-phenomenon-is-it-legend-or-market-manipulation/"}]},{"content":"Aster offers leverage up to 1001x on certain trading pairs, marketed under a 'degen mode' product rail. At 1001x leverage, a price movement of as little as 0.1% in the adverse direction is sufficient to fully liquidate a position. The platform's auto-deleveraging (ADL) mechanism, which forcibly reduces opposite-side positions held by profitable traders during cascading liquidations, introduces risk for all platform participants during periods of high volatility. Oracle desync between Aster's price feeds — reportedly drawn from Pyth, Chainlink, and Binance — creates additional risk of unexpected fills or liquidations during market stress. Regulatory bodies in multiple jurisdictions restrict or prohibit the offering of extremely high-leverage derivatives to retail investors. No regulatory compliance disclosures regarding jurisdictional restrictions on its leverage products were identified in available public materials.","heading":"Extreme Leverage and Liquidation Cascade Risk","severity":"high","sources":[{"credibility":2,"name":"Aster Docs: 1001x Leverage","type":"official","url":"https://docs.asterdex.com/product/1001x-simple/leverage"},{"credibility":2,"name":"CCN: From $0.08 to $2.42 — How Aster Became DeFi's Hottest (and Riskiest) Perp DEX","type":"news_article","url":"https://www.ccn.com/education/crypto/aster-defi-perpetual-futures-vs-hyperliquid-explained/"},{"credibility":2,"name":"Aster Docs: Auto-Deleveraging","type":"official","url":"https://docs.asterdex.com/product/aster-perpetual-pro/fees-and-specs/auto-deleveraging"}]},{"content":"Aster operates a proprietary stablecoin called USDF, which is designed as a delta-neutral yield instrument. The USDF mechanism holds USDT collateral in Ceffu custody and executes delta-neutral hedging strategies on Binance to generate yield, distributed weekly to users who stake USDF as asUSDF. This architecture creates a direct structural dependency on Binance's continuous operation. Regulatory action against Binance, exchange downtime, operational failure, or cessation of Binance derivatives services could directly impair USDF's peg maintenance and yield generation. Aster's own documentation acknowledges this risk as 'exchange partner risk' and describes plans to diversify into alternative strategies such as DAI lending during negative funding periods. As of the time of research, diversification of the USDF backing away from Binance had not been confirmed as implemented.","heading":"USDF Stablecoin and Binance Counterparty Risk","severity":"high","sources":[{"credibility":2,"name":"Aster Docs: USDF Stablecoin","type":"official","url":"https://docs.asterdex.com/product/usdf-stablecoin"},{"credibility":2,"name":"Aster Docs: Fund Custody and Risk Management","type":"official","url":"https://docs.asterdex.com/product/usdf-stablecoin/fund-custody-and-risk-management"},{"credibility":2,"name":"BlockEden: Inside the $2B Perpetual Exchange with Dark Pool Trading, 1001x Leverage, and a DefiLlama Delisting","type":"research","url":"https://blockeden.xyz/blog/2025/10/12/inside-the-b-perpetual-exchange-with-dark-pool-trading-1001x-leverage-and-a-defillama-delisting/"}]},{"content":"Aster states that its smart contracts are open source and have been audited by third-party firms, though no specific audit report names, dates, or links to published audit documents were identified in publicly available materials at the time of research. No security breaches or exploits have been publicly reported against the Aster platform since its September 2025 launch. The platform operates upgradeable smart contracts, which means administrative keys can modify parameters including leverage caps and oracle routing — a common risk vector for DeFi protocols. The audit status of Aster Chain, the planned Layer 1 blockchain, was described as unknown by independent reviewers as of late 2025. The platform's contracts run across multiple chains including BNB Chain, Ethereum, Solana, and Arbitrum, expanding the attack surface.","heading":"Smart Contract Security and Audit Status","severity":"medium","sources":[{"credibility":2,"name":"Aster Docs: Our Smart Contracts","type":"official","url":"https://docs.asterdex.com/overview/what-is-aster/our-smart-contracts"},{"credibility":2,"name":"CoinSpot: Aster Crypto Review 2026 — Perps DEX, Fees, 1001x Leverage, Safety","type":"research","url":"https://coinspot.io/en/reviews/aster-dex/"}]},{"content":"ASTER launched at $0.08 on September 17, 2025, surged to an all-time high of $2.42 on September 24, 2025, then declined significantly. As of May 2026, ASTER trades near $0.67 with a circulating supply of approximately 2.6 billion tokens and a circulating market cap of approximately $1.7 billion, ranking near #54 by market capitalization. During September 2025, Aster briefly claimed approximately 70% of global perpetual DEX trading volume, temporarily surpassing Hyperliquid; however, this market share collapsed following the DeFiLlama delisting controversy and Hyperliquid reasserted dominance. As of early 2026, Hyperliquid held approximately 28% market share in perp DEX open interest versus Aster's approximately 15%. Aster's peak total value locked (TVL) reached approximately $1.48 billion. Competition from Hyperliquid, dYdX, and other perp DEXs remains intense.","heading":"Market Performance and Competitive Position","severity":"medium","sources":[{"credibility":2,"name":"CoinMarketCap: Aster (ASTER) Live Price","type":"other","url":"https://coinmarketcap.com/currencies/aster/"},{"credibility":2,"name":"Aster vs Hyperliquid: Perp DEX Comparison 2026 — KuCoin","type":"research","url":"https://www.kucoin.com/blog/aster-vs-hyperliquid"},{"credibility":2,"name":"How Aster, Lighter and Hyperliquid are competing — TradingView / Cointelegraph","type":"news_article","url":"https://www.tradingview.com/news/cointelegraph:0b9082c8a094b:0-how-aster-lighter-and-hyperliquid-are-competing-for-the-next-era-of-onchain-trading/"}]},{"content":"No direct SEC, CFTC, DOJ, or other regulatory action against Aster, Astherus, APX Finance, or their principals has been identified in publicly available records as of May 2026. However, several structural risk factors create potential regulatory exposure. The offering of up to 1001x leveraged derivatives to retail users is regulated or prohibited in most major jurisdictions including the United States and European Union. CZ, an Aster advisor and the most prominent public figure associated with the project, pleaded guilty in November 2023 to federal criminal charges related to anti-money laundering failures at Binance and was sentenced to four months in prison; he was released in September 2024. His ongoing advisory role with Aster and personal token purchases may attract regulatory scrutiny given this background. Aster's jurisdictional footprint and whether it blocks users from restricted countries are not clearly disclosed in available public materials.","heading":"Regulatory and Legal Exposure","severity":"high","sources":[{"credibility":1,"name":"CoinDesk: Most Influential — Changpeng 'CZ' Zhao","type":"news_article","url":"https://www.coindesk.com/business/2025/12/12/most-influential-changpeng-cz-zhao"},{"credibility":2,"name":"Aster Docs: Leverage product overview","type":"official","url":"https://docs.asterdex.com/product/1001x-simple/leverage"}]}],"sources_used":[{"credibility":2,"name":"CoinGecko: What Is Aster Crypto — Decentralized Perpetuals Exchange","type":"research","url":"https://www.coingecko.com/learn/what-is-aster-crypto-decentralized-perpetuals-exchange"},{"credibility":2,"name":"CoinMarketCap: Aster (ASTER) Live Price","type":"other","url":"https://coinmarketcap.com/currencies/aster/"},{"credibility":2,"name":"Wikipedia: Astar Network","type":"research","url":"https://en.wikipedia.org/wiki/Astar_Network"},{"credibility":2,"name":"Ventureburn: What Is Aster?","type":"news_article","url":"https://ventureburn.com/what-is-aster/"},{"credibility":2,"name":"MEXC: What is Aster (ASTER Token) — Complete Guide","type":"news_article","url":"https://www.mexc.com/learn/article/what-is-aster-aster-token-complete-guide-to-the-revolutionary-defi-crypto/1"},{"credibility":3,"name":"AMA Recap: Inside the Aster Rebrand, April 3, 2025 — Medium (AsterDEX)","type":"other","url":"https://medium.com/asterdex/ama-recap-inside-the-aster-rebrand-apr-3-2025-a69aa3e8e522"},{"credibility":2,"name":"ChainCatcher: APX Finance and Astherus merger","type":"news_article","url":"https://www.chaincatcher.com/en/article/2155440"},{"credibility":2,"name":"Aster Official Docs","type":"official","url":"https://docs.asterdex.com/"},{"credibility":2,"name":"Aster Docs: 1001x Leverage","type":"official","url":"https://docs.asterdex.com/product/1001x-simple/leverage"},{"credibility":2,"name":"Aster Docs: Auto-Deleveraging","type":"official","url":"https://docs.asterdex.com/product/aster-perpetual-pro/fees-and-specs/auto-deleveraging"},{"credibility":2,"name":"Aster Docs: USDF Stablecoin","type":"official","url":"https://docs.asterdex.com/product/usdf-stablecoin"},{"credibility":2,"name":"Aster Docs: Fund Custody and Risk Management","type":"official","url":"https://docs.asterdex.com/product/usdf-stablecoin/fund-custody-and-risk-management"},{"credibility":2,"name":"Aster Docs: Our Smart Contracts","type":"official","url":"https://docs.asterdex.com/overview/what-is-aster/our-smart-contracts"},{"credibility":1,"name":"Yahoo Finance: DefiLlama to Delist Aster Volume Data Over Suspected Wash Trading","type":"news_article","url":"https://finance.yahoo.com/news/defillama-delist-aster-volume-data-101345708.html"},{"credibility":1,"name":"The Block: Aster's token drops 10% after DeFiLlama raises wash trading concerns","type":"news_article","url":"https://www.theblock.co/post/373458/asters-token-drops-10-after-defillama-head-raises-wash-trading-concerns-delists-perpetuals-data"},{"credibility":1,"name":"CoinDesk: XRP Volumes on Aster DEX Mimic Those on Binance","type":"news_article","url":"https://www.coindesk.com/markets/2025/10/06/xrp-volumes-on-aster-dex-mimic-those-on-binance-putting-focus-on-the-market-s-current-obsession"},{"credibility":2,"name":"DL News: Aster's $100bn perp volume was 'suspicious'. But was it fake?","type":"news_article","url":"https://www.dlnews.com/articles/defi/aster-perp-volume-scrutinized-amid-defillama-delisting/"},{"credibility":2,"name":"CCN: Aster Back on DeFiLlama, But Wash-Trading Fallout Still Not Resolved","type":"news_article","url":"https://www.ccn.com/news/crypto/aster-defillama-washtrading-fallout/"},{"credibility":2,"name":"CryptoPotato: DeFiLlama Delists Aster's Perpetual Futures Data Following Wash Trading Suspicions","type":"news_article","url":"https://cryptopotato.com/defillama-delists-asters-perpetual-futures-data-following-wash-trading-suspicions/"},{"credibility":2,"name":"BeInCrypto: DeFiLlama Relists Aster Perpetual Data, But There's a Catch","type":"news_article","url":"https://beincrypto.com/defillama-relists-aster-perpetual-data/"},{"credibility":1,"name":"CoinDesk: ASTER Zooms 20% as Binance's CZ Purchases 2M Tokens","type":"news_article","url":"https://www.coindesk.com/markets/2025/11/02/aster-zooms-20-as-binance-s-cz-purchases-2m-tokens"},{"credibility":2,"name":"CZ Clarifies Advisory Role with Perpetual DEX Aster — TechStory","type":"news_article","url":"https://techstory.in/cz-breaks-silence-clarifies-advisory-role-with-perpetual-dex-aster/"},{"credibility":1,"name":"CoinDesk: Most Influential — Changpeng 'CZ' Zhao","type":"news_article","url":"https://www.coindesk.com/business/2025/12/12/most-influential-changpeng-cz-zhao"},{"credibility":2,"name":"CCN: Behind Aster's Rise Is Its Mysterious CEO, Known as 'Leonard'","type":"news_article","url":"https://www.ccn.com/news/crypto/behind-asters-rise-is-its-mysterious-ceo-known-simply-as-leonard/"},{"credibility":2,"name":"CCN: From $0.08 to $2.42 — How Aster Became DeFi's Hottest (and Riskiest) Perp DEX","type":"news_article","url":"https://www.ccn.com/education/crypto/aster-defi-perpetual-futures-vs-hyperliquid-explained/"},{"credibility":2,"name":"BlockEden: Inside the $2B Perpetual Exchange with Dark Pool Trading, 1001x Leverage, and a DefiLlama Delisting","type":"research","url":"https://blockeden.xyz/blog/2025/10/12/inside-the-b-perpetual-exchange-with-dark-pool-trading-1001x-leverage-and-a-defillama-delisting/"},{"credibility":2,"name":"Tokenomist: Aster (ASTER) Tokenomics and Vesting Schedule","type":"research","url":"https://tokenomist.ai/aster-2/tokenomics"},{"credibility":2,"name":"CoinLaunch: The Aster (ASTER) Phenomenon — Real Value or Bubble?","type":"research","url":"https://coinlaunch.space/blog/the-aster-phenomenon-is-it-legend-or-market-manipulation/"},{"credibility":2,"name":"KuCoin: Aster vs Hyperliquid — Perp DEX Comparison 2026","type":"research","url":"https://www.kucoin.com/blog/aster-vs-hyperliquid"},{"credibility":2,"name":"CoinSpot: Aster Crypto Review 2026 — Perps DEX, Fees, 1001x Leverage, Safety","type":"research","url":"https://coinspot.io/en/reviews/aster-dex/"},{"credibility":2,"name":"RootData: Aster Project Introduction, Team, Financing","type":"research","url":"https://www.rootdata.com/Projects/detail/Astherus?k=MTM1MzQ%3D"}],"summary":"Aster (ticker: ASTER) is a multi-chain decentralized perpetuals exchange that emerged from the merger of Astherus, a yield protocol, and APX Finance, a decentralized perpetuals platform, completed in late 2024 and rebranded in March 2025. The project is notable for its association with YZi Labs (the family office of former Binance CEO Changpeng Zhao) and for offering extreme leverage up to 1001x. Aster is unrelated to Astar Network (ASTR), a Polkadot parachain — the similar names have caused public confusion. As of May 2026, ASTER trades near $0.67 with a circulating market cap of approximately $1.7 billion, ranked approximately #54 by market cap. Aster was delisted and then relisted by DeFiLlama in October 2025 following suspected wash trading of its reported $100 billion in perpetuals volume, a controversy that remained unresolved as of the relisting.","timeline":[{"date":"2021-01-01","event":"APX Finance (ApolloX Finance) launches on BNB Chain as a decentralized perpetuals platform.","source":"CoinGecko: What Is Aster Crypto","source_url":"https://www.coingecko.com/learn/what-is-aster-crypto-decentralized-perpetuals-exchange"},{"date":"2024-01-01","event":"Astherus is founded in Hong Kong as a multi-asset liquidity and yield protocol.","source":"RootData: Aster Project Introduction","source_url":"https://www.rootdata.com/Projects/detail/Astherus?k=MTM1MzQ%3D"},{"date":"2024-11-01","event":"YZi Labs (Binance Labs) makes a strategic investment in Astherus.","source":"CoinGecko: What Is Aster Crypto","source_url":"https://www.coingecko.com/learn/what-is-aster-crypto-decentralized-perpetuals-exchange"},{"date":"2024-12-01","event":"Astherus and APX Finance announce and complete strategic merger.","source":"ChainCatcher: APX Finance and Astherus merger","source_url":"https://www.chaincatcher.com/en/article/2155440"},{"date":"2025-03-31","event":"Merged entity officially rebrands as Aster and launches unified platform.","source":"AMA Recap: Inside the Aster Rebrand — Medium","source_url":"https://medium.com/asterdex/ama-recap-inside-the-aster-rebrand-apr-3-2025-a69aa3e8e522"},{"date":"2025-09-17","event":"ASTER token TGE launches at $0.08 per token.","source":"Ventureburn: What Is Aster?","source_url":"https://ventureburn.com/what-is-aster/"},{"date":"2025-09-24","event":"ASTER reaches all-time high of $2.42, with FDV briefly exceeding $7 billion.","source":"CCN: From $0.08 to $2.42","source_url":"https://www.ccn.com/education/crypto/aster-defi-perpetual-futures-vs-hyperliquid-explained/"},{"date":"2025-09-27","event":"CZ publicly clarifies his role as a technical and product advisor only, denying core team participation, during an X Spaces session.","source":"CZ Clarifies Advisory Role — TechStory","source_url":"https://techstory.in/cz-breaks-silence-clarifies-advisory-role-with-perpetual-dex-aster/"},{"date":"2025-10-05","event":"DeFiLlama co-founder 0xngmi announces delisting of Aster perpetuals data, citing Binance-mirroring volume patterns and inability to verify data independently. ASTER drops approximately 10%.","source":"The Block: Aster's token drops 10% after DeFiLlama raises wash trading concerns","source_url":"https://www.theblock.co/post/373458/asters-token-drops-10-after-defillama-head-raises-wash-trading-concerns-delists-perpetuals-data"},{"date":"2025-10-19","event":"DeFiLlama relists Aster perpetuals data at Aster's request; 0xngmi states Aster remains 'a black box and we can't verify the numbers.'","source":"CCN: Aster Back on DeFiLlama","source_url":"https://www.ccn.com/news/crypto/aster-defillama-washtrading-fallout/"},{"date":"2025-11-02","event":"CZ purchases 2 million ASTER tokens, triggering approximately a 20% price increase.","source":"CoinDesk: ASTER Zooms 20% as Binance's CZ Purchases 2M Tokens","source_url":"https://www.coindesk.com/markets/2025/11/02/aster-zooms-20-as-binance-s-cz-purchases-2m-tokens"},{"date":"2026-03-30","event":"Aster reduces monthly token unlock rate by approximately 97% — from 78.4 million per month to 1.8–2.25 million per month — transitioning from linear vesting to staking emission model.","source":"Tokenomist: Aster (ASTER) Tokenomics and Vesting Schedule","source_url":"https://tokenomist.ai/aster-2/tokenomics"}]},"v":1}