The decentralized exchange Aster has topped the ranking of platforms trading perpetual futures contracts, confidently surpassing Hyperliquid in daily trading volume.
This is reported by Finway
Financial Metrics and Competitor Positions
According to DeFiLlama, in the last 24 hours, the trading volume of futures on Aster reached $25.77 billion, more than double that of Hyperliquid, which stood at $10.09 billion. Thus, Aster has secured the top position among decentralized exchanges in this sector.
Additionally, the platform ranked second in daily collected fees, totaling $10.17 million. In comparison, Hyperliquid only ranked sixth in this metric.
Project Development and User Incentives
Aster is a decentralized exchange specializing in perpetual futures, resulting from the merger of Astherus and APX Finance. On September 17, 2025, a token generation event (TGE) took place, during which the ASTER token was introduced, and by September 23, the first phase of Au and Ph point farming was completed. The second phase, Genesis Stage 2, is currently ongoing and will conclude on October 5, 2025.
The total supply of ASTER is 8 billion tokens, of which 53.5% is allocated for airdrops according to the project’s tokenomics. Participating in farming allows users to earn additional rewards, and using the referral code provides a 30% discount on fees and a team boost.
“The surge in activity on the platform is likely driven by several factors. Primarily, it is the airdrop, for which a significant portion of the supply has been allocated. The project has also received support from YZi Labs and former Binance CEO Changpeng Zhao.”
It is worth noting that in November 2024, YZi Labs invested in Astherus, and the project was likely part of this firm’s incubation program. Additionally, Aster is actively expanding its presence through integrations with other ecosystem products, including Trust Wallet.