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"After a year of Hyperliquid dominating the perp DEX arena, CZ himself has taken the fight to them with a new rival. Aster has taken perps multichain, brought yield to collateral, and even invented stealth trading features you won’t find elsewhere.
It’s certainly got everyone’s attention, but is Aster actually worth using? This complete guide will show you exactly how to get set up and make the most of Aster, so you can decide for yourself."
~ Coin Bureau
The video provides a comprehensive guide to Aster (ATA), a decentralized perpetual futures exchange (DEX) that launched in early 2025 as a result of a merger between Asterus and APX Finance. Backed by CZ and Binance Labs (rebranded as Easy Labs), the project has been described as a strategic competitor to the leading derivatives DEX, Hyperliquid. Aster differentiates itself with multi-chain compatibility across BNB Chain, Arbitrum, Ethereum, and Solana, allowing users to trade without bridging their assets. It offers exotic features such as up to 101x leverage and the use of yield-bearing collateral like liquid staking derivatives, appealing to what the video calls "DeFi thrillseekers and capital efficiency maximizers." The platform uses a single order book fed by multiple chains, secured by cross-chain messaging and optimistic execution with fraud proofs. While initial volume and token performance have been impressive, the video cautions that much of this activity has been driven by airdrop farming, advising users to approach these metrics with a "pinch of salt."
The guide then walks through the practical aspects of using Aster, emphasizing the importance of self-custody and security given the platform's non-custodial nature. It details the process of connecting a Web3 wallet like MetaMask, depositing the primary collateral USDT across supported networks, and navigating the two distinct trading interfaces: "101x mode" and "perpetual mode." The video strongly advises against using the 101x mode, describing it as a "crypto-themed slot machine" with capped profits and high fees, designed to liquidate users quickly. The "perpetual mode," however, is presented as a professional trading terminal with lower fees (0.01% maker/0.035% taker) that undercut competitors, alongside advanced features like hidden orders for whales and an exclusive yield-bearing stablecoin collateral called USDF. The video concludes by reiterating that Aster, if used in perpetual mode, is a solid platform with legitimate advantages like low fees and good execution, but stresses the user's sole responsibility for security and tax compliance in the DeFi landscape.
Source - Coin Bureau YouTube: https://www.youtube.com/watch?v=e-D-e9cphUs
Disclaimer: This video is provided for informational purposes only, and not offered or intended to be used as legal, tax, investment, financial, or any other advice.
