Binance-Backed-Centralized Exchange (DEX) Aster has completed a rewards program for users affected by the unusual price transfer of permanent trading pairs in XPL.
Astor is a co-founder of Binance and defended by Chairman Changpeng ‘CZ’ Zhao, becoming a rival to hyperliquid’s careless market, surpassing that even in the daily, lasting trading volume. An important feature that distinguishes Aster from other on-chain perp dexs is that it allows traders to place limit orders that are completely invisible in the order book.
Indexing issues with Xplusdt permanent contracts liquidate Aster Traders position
On Thursday, September 25th, BNB Chain-Native Multi-Chain Exchange detected abnormal behavior in the XPL permanent contract after the coin price rose from $1.30 to $1.30, over $4, as seen on other exchanges. The Astor team attended the situation within minutes, suspending all XPL trading activities and pledging to protect affected users.
In X’s post, Exchange said it is aware of the unusual price movement of the XPL’s permanent trading pair, ensuring that traders are safe on the platform and are conducting a full review of the cases to compensate for losses.
According to some community members, the issue is due to misunderstood indexing operations during Astor migration XPL Market From before release to live trading. During testing, on-chain analysts estimated that the exchange had hard-coded the index price at $1, and the mark price concluded at $1.22. However, if control was discontinued without modifying the index to match real-time market prices, the contract was spiked briefly to $4, triggering the liquidation before it was settled. The result was a sudden surge that froze before returning to the more realistic level of $1.30 seen on other exchanges.
Several traders were liquidated during the incident, but the total value of the loss is unknown, as is the compensation amount distributed by Astor. However, users estimate that the impact is worth millions of dollars. Metrics from Defilama – Aster Protocol Metrics confirm a sudden spike in trading activity.
Aster will compensate all users affected by the XPL Perp Trading pair issue, but this incident raises concerns about risks related to DEXS
Aster was able to fix the token index issue within 30 minutes of being notified. The exchange writes in subsequent X posts that all Xplusdt permanent contract traders who suffered a loss will be refunded, and the compensation amount will be sent to the USDT wallet. Although the exchange’s swift action restored investor confidence, the incident highlights the risks still present in decentralized derivative trading, proving that token composition errors can be costly and confusing.
Nevertheless, the affected traders reported that they received a refund within hours of the disaster, but some users raised concerns about losing “RH” trading points. Meanwhile, another user said that they can follow the directions of the developer team to recover points in order to sync their accounts with the backend server.
Aster surpasses high lipids in daily PARP trading volume, with $Aster’s market capitalization rising sharply above $3 billion
Despite the possibility, Aster continues to post impressive growth numbers. The exchange has generated $16.3 million in trading fees over the past 24 hours, according to data raised by Dune Analytics. That’s three times the daily trading fees received by high lipids. User recruitment numbers are also rising, with over 2.57 million traders active on the platform. Dex Nearly 468,000 new accounts can be added in the last 24 hours, reflecting the growing demand for persistent platforms on the chain.
Meanwhile, the exchange’s native token, Aster, is also bringing out great traction. One whale wallet recently acquired $55 million in aster (valued by $100 million) over two days. The token was released on September 17th and has already increased rapidly. Market capitalization Over $3 billion.
The incident regarding Aster occurred on the exact same day, following the release of Plasma Mainnet. The blockchain has already locked a total of over $2 billion and is placed in the top 10 protocols due to the liquidity of Stablecoin.
At the time of writing, Plasma (XPL) and Aster (Aster) are trading for $1.17 (17.8% in 24 hours) and $1.83 (-9.09% in 24 hours) respectively.
