Aster

Aster is a decentralized perpetual exchange (perp DEX) that combines non-custodial trading with features usually associated with centralized platforms, such as hidden orders, a full order book, and deep pooled liquidity. ASTER is the platform's native token. The project emerged from the merger of two BNB Chain projects, Astherus and APX Finance, in late 2024, with APX holders able to migrate their tokens to ASTER, and it received backing from YZi Labs (formerly Binance Labs).

How the platform works

Aster lets traders keep full control of their assets while trading cryptocurrency perpetual futures — and even tokenized exposure to US stocks — with high leverage, settled on-chain. It offers two modes: Simple Mode, a one-click, MEV-resistant experience aimed at beginners, and Pro Mode, a full order book with advanced tools such as automated grid trading and hidden orders that stay invisible until execution. The platform operates across BNB Chain, Ethereum, Solana, and Arbitrum without requiring users to bridge assets, and liquidity is pooled across markets to reduce slippage on large trades. A distinctive feature is that users can post yield-generating assets, such as asBNB or USDF, as trading collateral, so capital keeps earning while it backs positions.

Token and supply

ASTER has a maximum supply of 8 billion tokens, with roughly 2.7 billion currently in circulation. The token is associated with the platform's incentive and governance structure, and its September 2025 exchange debut drew significant attention amid a broader wave of interest in perp DEXs.

Role in the ecosystem

Aster competes in one of DeFi's most active categories: decentralized derivatives trading, alongside platforms like Hyperliquid. Its pitch is to close the gap between centralized-exchange trading quality and decentralized custody, particularly for the BNB Chain ecosystem where it has strong roots.