Raising the market is the best promotion.
In just one week, the number of new users on the Aster platform has surpassed 710,000, with a perpetual contract trading volume of $21.112 billion in the past 24 hours, directly exceeding that of the established DeFi derivatives platform Hyperliquid by more than double. The platform's TVL has reached $1.744 billion, with a 24-hour revenue of $7.12 million, ranking just behind stablecoin giants Tether and Circle in the overall revenue leaderboard.
Aside from "Can ASTER still be bought?", "Can ASTER still be farmed?" is also a frequently asked question.
Aster's second season airdrop has 11 days left, with the airdrop pool accounting for 4% of the supply, approximately 320 million ASTER tokens. This also means that as of the time of writing, based on a price of $ASTER$2.3, the S2 airdrop is valued at over $700 million. Against this backdrop, Rhythm BlockBeats has compiled the most essential airdrop strategies for Aster.
1. Aster × Backpack Hedging Arbitrage Strategy
This is currently the main point-earning strategy. The core steps involve placing opposite orders for the same asset on two trading platforms (such as Backpack and Aster) simultaneously to achieve "point farming + fee capture."
The only point to note is: Aster uses "market orders" because Aster earns double points for taking orders.
The detailed steps involve placing a "limit order" to short $ASTER on Backpack to earn hanging order points; while on Aster, use a "market order" for immediate execution. Additionally, market order execution must be quick; otherwise, if one side is not executed, it may create a unilateral exposure.
Moreover, the weight of holding time and opening frequency needs to be managed by oneself. The longer the holding time, the higher the points, but the point cap is twice the weekly trading volume.
To prevent being targeted by "witches," you can try modifying various parameters, such as opening amount, opening multiple, opening direction, etc. Do not use the same set of parameters repeatedly; otherwise, high-frequency hedging may trigger risk control and witching. Beginners should start with small amounts and gradually increase the multiple and amount after getting the hang of it.
2. Funding Rate Capture
This strategy builds on the previous point farming strategy by further capturing funding rates.
Here, the perpetual contract funding rate mechanism is primarily utilized. When the funding rate is positive, short the perpetual to earn the funding rate; when the funding rate is negative, long the perpetual to earn the funding rate. Generally, there will be discrepancies in funding rates between the two trading platforms. For example, the tool in the image below shows the funding rate differences between various trading platforms, suitable opening directions, and APR.
Data source: hibot
Continue to hedge spot using the previous Backpack (limit order) + Aster (market order) method to earn points. The net profit is = point value + funding rate income - fee cost - slippage loss.
Be sure to consider the fee structure of the trading platforms. Fees are usually divided into two types: Taker (taking orders): refers to orders that are executed immediately, with higher fees; Maker (hanging orders): refers to orders that are waiting to be executed on the order book, with lower fees.
Since real-time monitoring is required, this is suitable for experienced traders or using some funding rate bots. Pay attention to delays and reconciliations between multiple accounts and trading platforms. Funding rate arbitrage usually has a longer time span than point arbitrage, so do not neglect position management.
3. Deposit Conversion to USDF
In addition to the previously discussed hedging and funding rate strategies, Aster also offers a relatively "low-risk, passive income" method based on the "Trade & Earn" system of USDF and asBNB. This product continues the experience of Aster's predecessor in staking asset liquidity, essentially combining "trading" and "wealth management," allowing users to remain active in trading while enjoying stable annualized returns.
Currently, USDF offers approximately 16.7% annualized yield (APY), with two participation methods: one is deposit rewards, where as long as your account holds more than 1 USDF, interest will be generated automatically; the second is trading rewards, which have slightly higher requirements, requiring users to be active for at least 2 days a week and have a cumulative trading volume exceeding 2000 USDT. Once the conditions are met, the system will distribute rewards uniformly in the following week, directly credited to the trading account and automatically reinvested.
In addition to USDF, Aster also provides asBNB, which serves a similar purpose and logic as USDF. Users can exchange BNB or slisBNB for asBNB to use as margin while enjoying approximately 9.1% annualized yield.
Furthermore, Aster has introduced a "double points" mechanism in its incentive design. If you choose to use USDF or asBNB as margin, your trading points will receive a double bonus, and the point cap for weekly trading volume will be raised to double. This makes using these two assets almost a must for players pursuing airdrop points or rebate rewards, effectively stacking interest income and point advantages while trading.
Additionally, holding $ASTER provides a 5% fee discount, so it's best to hold a certain amount of $ASTER in each wallet.
4. Fleet Bonus
Individual players can only earn limited rewards from point farming, but if you can form a "fleet" and expand your network through invitations, you can leverage the points generated by others' trading and further enhance your share in the overall network through team rankings. In the long run, the points earned by a single account through self-trading may be far less than the total contribution of an active team, so "invitation + fleet" will become the key to differentiating players in the later stages.
The core logic is to integrate the power around you into a team through "referrals" and "team contributions" to boost your points.
Specifically, the invitation rewards are divided into two levels: if you invite a first-level user, you can earn 10% of the Rh points they generate; if it's a second-level user (i.e., a user invited by your invitee), you can earn 5% of the points. However, it's important to note that this sharing only applies to their trading point earnings, excluding referral points and team points themselves, avoiding the "infinite nesting" situation.
Aster has also introduced the concept of team points. This can be understood as a fleet, where each fleet's points will be settled on T+1, compared horizontally with other fleets. Before the final distribution of points, the system will also make some "fairness adjustments," including limiting large account monopolies and smoothing out abnormal fluctuations. In other words, fleet rewards are not just about "the more people I invite, the better," but rather a comprehensive evaluation of "team activity" + "overall contribution ratio."
Ultimately, these scores will be converted weekly into your share of the overall platform points pool, directly determining how much reward you can receive in the upcoming $ASTER airdrop distribution. Simply put: the invitation relationship gives you a stable 10% / 5% share; team points determine whether you can squeeze into the top of the leaderboard for higher additional rewards.
The second season airdrop of Aster has 11 days left, with the airdrop pool accounting for 4% of the supply, approximately 320 million ASTER tokens, and as of the time of writing, the S2 airdrop is valued at over $700 million.
In the face of such massive user growth and a complex point ecosystem, the Aster team has also made it clear: professional market makers will be excluded from the Rh points system and will not qualify for $ASTER token airdrop eligibility. Currently, pure spot holding and trading are not included in the point system for the second phase of Rh point calculation, but this does not mean that spot trading is without value—it's not hard to infer from the official statements that the airdrop rules for the third quarter will likely reintegrate spot trading into the point calculation range.
Therefore, at present, there are still many opportunities for retail investors. However, it should be noted that the market is currently overheated, with FOMO sentiment on the rise, and scripts are rampant in the market. The timing of the second season airdrop distribution is also uncertain, so competition is still quite fierce, and users need to manage their risks.
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