In the Web3 financial world, competition is becoming increasingly fierce. Following the first instance of daily revenue surpassing the on-chain perpetual contract giant Hyperliquid, the emerging decentralized exchange Aster has released significant news: starting today, the "holding time score" Rh points will be increased to five times the original amount, aimed at rewarding long-term holders. Meanwhile, Aster's CEO Leonard revealed during an AMA event that a token buyback plan will be announced in a few weeks. This series of aggressive strategies not only demonstrates Aster's determination to seize the dominant position in the DeFi derivatives market but also signals an escalating competition surrounding user incentives, market share, and token economics.
- Aster's "Rocket-like" Rise: Revenue, Trading Volume, and TVL Soar
Aster's rise is astonishing. After announcing its Layer-1 blockchain Aster Chain plan, the price of the ASTER token hit a historic high of over $2.25, rising more than 40% within just 24 hours.
Revenue and trading volume surpass: On September 23, Defillama data showed that Aster's revenue in the past 24 hours reached $4.02 million, surpassing Hyperliquid's $2.88 million for the first time. Its 24-hour perpetual trading volume has climbed to billions of dollars, exceeding competitor Hyperliquid in daily trading volume metrics.
TVL skyrockets: Aster's total value locked (TVL) has surged to approximately $1.85 billion, reflecting strong capital inflow and increasing market confidence.
Whale activity: On-chain data shows that whale activity is intensifying. Three major wallets increased their holdings by approximately 31.26 million ASTER tokens in the past 24 hours, worth tens of millions of dollars. Additionally, an on-chain address used 1,090 BNB (approximately $1.11 million) to purchase 549,194 ASTER at an average transaction price of about $2.02. The active participation of these whales further boosted Aster's market popularity.
Mainstream exchange support: Within just a week of listing, the market capitalization of the ASTER token reached $3.8 billion, with a fully diluted valuation (FDV) of $18 billion. The ASTER price rose nearly 20% today, trading at around $2.30, with an increase of over 2000% since its listing. It currently ranks 35th on CoinMarketCap and 47th on CoinGecko. It has been listed on major platforms such as Coinbase, Bybit, Gate, Bitget, and KuCoin, and has received support from top exchanges like Binance, Upbit, and Bithumb, rapidly expanding its market coverage and liquidity.
- Increased Incentives and Buyback Plan: Aster's Long-term Strategy
Aster's success is not accidental; its strong user incentive program and carefully designed token economics are key.
Rh points increased fivefold: Aster announced that starting today, the "holding time score" Rh points will be increased to five times the original amount, aimed at rewarding long-term holders. The official statement indicated that the longer the holding time, the more Rh points earned. This strategy is designed to encourage users to hold tokens long-term, increasing market stability.
Token buyback plan: Aster CEO Leonard stated during the AMA that a token buyback plan will be announced in a few weeks. Token buybacks are typically seen as a sign of confidence from the project team in the value of their own tokens, helping to boost market sentiment and reduce circulation, which may potentially drive up token prices.
Fee discounts: Holding ASTER tokens will grant a 5% discount on perpetual contract trading fees, further increasing the utility of ASTER tokens and stimulating user holding and usage.
Ongoing incentives: The second phase of Aster Genesis will end at 23:59 UTC on October 5. There are still two cycles remaining, during which users can trade and earn Rh points—4% of the total ASTER supply has been allocated for second-phase rewards. The third phase will follow closely, incorporating spot trading points and updating the reward mechanism. These incentive plans aim to continuously attract user participation and enhance platform activity.
- Aster Chain: A Grand Vision from DEX to Native Blockchain
One of the core catalysts behind ASTER's surge is its announcement of developing Aster Chain, a privacy-focused Layer-1 blockchain currently undergoing internal testing.
Privacy protection: The main features and goals of Aster Chain include using zero-knowledge proofs (ZKP) for transaction verification without exposing sensitive details such as order size or profit and loss. It provides strong privacy protection while maintaining on-chain verifiability—a rare balance in the derivatives blockchain space.
Full-end infrastructure: ASTER has evolved from its initial multi-chain DEX identity to a full-end infrastructure solution dedicated to derivatives and high-performance trading. If successful, Aster Chain could directly compete with or even surpass other specialized derivatives protocols, especially in the privacy-enhanced perpetual contract trading space.
- Risks and Considerations: Calm Reflections Behind the Frenzy
Despite the hype, the trajectory of ASTER's development is not without risks:
Token concentration: On-chain analysis indicates that a few wallets may control over 90% of the circulating supply, raising concerns about price manipulation.
Volatility and leverage: The embedded high-leverage trading in its product design poses serious threats of margin calls and chain liquidations.
Technical execution: Providing a reliable, high-throughput L1 with privacy features is no simple task.
Regulatory uncertainty: Many jurisdictions are increasingly scrutinizing DeFi derivatives, high-leverage products, and privacy layers.
Competition: Projects like Hyperliquid and dYdX are already mature; ASTER must prove its sustainable differentiated value.
Conclusion:
Aster's rapid development is not just a contributing factor; it marks a bold attempt for ASTER to transition from a decentralized exchange (DEX) to a comprehensive infrastructure. The market currently recognizes this narrative, but the real test lies in execution, degree of decentralization, and practical application. The Aster team announced on Discord that some users' Rh points are showing anomalies, and the team has confirmed and is working on a fix. The official emphasized that market makers are not included in the Rh points program, and holding or trading spot does not count towards Stage 2; only Pro mode perpetual contracts and grid trading calculate points, while spot trading will be included in Stage 3. Neutral strategy trading under hedging mode can count towards points unless the system detects abnormal behavior. The total allocation for Stage 2 is 4% ASTER, spanning 4 epochs, but the weekly ratio is not fixed. For traders, Aster represents both a new opportunity and a high-potential project worth cautious observation.
Related reading: Aster's daily revenue surpasses Hyperliquid, CEO reveals token buyback plan
Original article: “Aster Unexpectedly Increases Position Rh Points Boosted 5x, Unveiling New Aster Chain Public Blockchain Plan”
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