Первая в истории децентрализованная биржа бессрочных фьючерсов Aster добилась рекорда в $1 трлн Translation: Headline: The first-ever decentralized perpetual futures exchange Aster hits a $1 trillion milestone

The trading volume of perpetual futures on decentralized exchanges has surpassed $1 trillion for the first time in history, according to data from DeFi Llama.

The majority of the trading volume was attributed to Aster, amounting to $493 billion. Following closely was Hyperliquid, a once-leading platform in the sector, recording $280 billion in volume. The top three was rounded out by Lighter, which launched in April this year and accounted for $165 billion. The platform had previously announced its mainnet launch.

Aster exhibited the largest growth in trading volume, skyrocketing from $9 billion to $420 billion within a month. The exchange’s TVL surged more than six-fold, rising from $340 million to the current $2.2 billion.

The excitement was fueled by intense discussions about the potential involvement of Binance founder Changpeng Zhao (CZ) in the platform’s creation. The community speculated that he might have launched this DEX within the BNB Chain ecosystem as a response to Hyperliquid’s success.

Later, he commented on the rumors, clarifying that several former Binance employees are part of Aster’s team and that YZi Labs holds a minority stake in the platform. Amidst all the buzz, Aster even claimed the top spot in the DeFi Llama protocols ranking based on commission volume, surpassing Tether and Circle.

By the time of writing, it had slipped to second place with $148 million in commissions over the past 30 days.

Hyperliquid occupies the fifth spot for this metric, with the platform’s commission volume reaching $87 million for the month.

On September 17, Aster launched its own token. Since then, its price has surged over 1600%, rising from $0.09 to its current price of $1.8, with a FDV of $14 billion.

The market capitalization of ASTER has reached $2.9 billion. Previously, analysts predicted that the asset would soon surpass Hyperliquid in terms of HYPE. However, it still has a long way to go — the market value of its primary competitor exceeds $13 billion, according to CoinGecko.

Meanwhile, Justin Sun announced the launch of a perp-DEX on TRON.

BitMEX CEO Stefan Luetz believes that the excitement surrounding decentralized exchanges may fizzle out quickly. He expressed this in an interview with CoinDesk.

The expert compared the economic models of perp-DEXs to traditional Pump and Dump schemes. According to him, the primary driver of their growth is aggressive incentive programs rather than fundamental value.

“The original goal of such platforms was to provide access to markets without intermediaries, but the current growth is mainly supported by artificial incentives. This is not fraud; it’s a transparent economic model where all participants understand the rules of the game,” Luetz explained.

He also drew a parallel to marketing campaigns that buy audience attention. He noted that platforms similarly attract traders through rewards and fee rebates, creating a “self-sustaining” ecosystem of trading activity.

It’s worth recalling that at the end of September, the DeFi project led by Andre Cronje secured $200 million to develop a «full-cycle» decentralized exchange.