Aster is a decentralized exchange focused on perpetual futures trading (derivatives), with additional support for spot trading. It emerged in late 2024 from a merger of two projects – Astherus (a multi-ASTER yield platform) and APX Finance (a decentralized perp exchange) – adopting the new Aster identity to revolutionize on-chain trading.

Project Function

Perpetual Futures Trading: This is Aster’s core product. Users can trade perpetual crypto contracts with up to 1001× leverage on-chain. Aster provides two trading modes, Simple (1001x) Mode: A one-click, AMM-like interface that executes trades MEV-free (protected from miner-extractable value manipulation) and Pro Mode: An advanced, order book style interface with deep liquidity and a full suite of trading tools.

Spot Trading: In addition to derivatives, Aster includes a spot trading platform (accessible via the “Aster Spot” interface). 

Cross-Chain Support: Aster is built as a multi-chain platform. At launch it supports BNB Chain (BSC) as its primary network and also integrates Ethereum, Solana, and Arbitrum for trading.

Advanced Trading Features: Aster introduces several advanced trading features such as hidden orders, 24/7 stock perpetuals, algorithmic trading tools, and portfolio and risk management.

Yield and Collateral Products (Aster Earn): Uniquely, Aster integrates yield-generating DeFi products into its exchange such as Liquid Staking Derivatives (LSDs) and Aster ALP (Liquidity Pool).

Yield-Bearing Stablecoin (USDF): Aster issues USDF, an over-collateralized stablecoin designed to earn yield. USDF is backed by deposit ASTERs and deployed in strategies to generate interest.

Token Utility 

Governance: ASTER is designed to decentralize governance of the platform. Holders of ASTER will be able to participate in the protocol’s decision-making – for example, voting on proposals, parameter changes, new feature rollouts, or treasury usage.

Incentives & Rewards: The token is used to reward and engage the community. Notably, Aster conducted a large initial airdrop and ongoing reward programs where active users (traders, liquidity providers, referral program participants, etc.) earned ASTER tokens for contributing to the platform.

About The Founders

Aster is led by a pseudonymous founder known as “Leonard” (CEO). Leonard’s identity remains anonymous, with no publicly disclosed background or prior affiliations.

Risks of ASTER

Like an investment in other crypto ASTERs, there are some general risks to investing in ASTER. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto ASTERs and Uphold’s platform, please refer to the Risks Specific to Holding Digital ASTERs statement.

In addition to these general risks, an investment in ASTER is subject to the following specific risks:

ASTER operates using smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks. 

We emphasize that this Crypto ASTER Statement is not an exhaustive description or summary of all risks associated with ASTER. Investors should conduct their own research and perform their own assessment before trading any crypto ASTER to determine the appropriate level of risk for their personal circumstances.

The ASTER community and Aster founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of ASTER have no recourse to the ASTER community, Aster founding team, or Uphold if ASTER declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto ASTERs, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing ASTER on the Uphold Platform, Uphold performed due diligence on ASTER and determined that ASTER is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

The creation, governance, usage, and design of ASTER, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 

The supply, demand, maturity, utility, and liquidity of ASTER.

Any marketing materials put forward by the ASTER social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.

Material technical risks associated with ASTER, including any code defects, security breaches and other threats concerning ASTER and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.

Legal and regulatory risks associated with ASTER, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of ASTER.