Aster

Changpeng “CZ” Zhao, founder of Binance, participated in an X Space with the Aster team—a perpetual Decentralized Exchange (DEX) project—to clarify the nature of his involvement. CZ confirmed his role is strictly advisory, focusing on product and technology, while underscoring the project’s deep connections to the BNB Chain ecosystem.

CZ’s Limited Advisory Scope
CZ explicitly stated that his advisory role with Aster is confined to technical and product development, separating himself from regulatory matters:
Scope of Advice: "I only advise them on product and tech, and I do not advise them on regulatory issues."Disclaimer: CZ emphasized he is "not a lawyer" and clarified that he is "just helping them" after encountering past regulatory challenges related to similar roles.
Aster’s Ties to Ex-Binance Personnel and BNB
CZ highlighted Aster's strong connection to the Binance/BNB ecosystem through its personnel and investment structure:
Team Composition: He noted that the Aster team includes "a couple of ex-Binance people," describing them as "very good people" who have maintained a close relationship with the BNB Chain ecosystem.Ecosystem Support: CZ stated that because BNB is "close to his heart," the team's familiarity with the BNB ecosystem indirectly provides a boost to his "beloved token."
Aster's native token, $ASTER, recently tapped an All-Time High (ATH) of $2.41 before correcting, signaling the strong market interest in perpetual DEX platforms. This sector has gained significant momentum recently, spurred partly by platforms like Hyperliquid and its native token, $HYPE.
#Binance #wendy #aster $ASTER

$ASTER Exchange said it has reimbursed users after a sudden price glitch sent the XPL perpetual contract soaring and wiped out leveraged positions.

According to reports, the contract’s mark price briefly decoupled from markets on September 25, 2025, jumping from about $1.30 to nearly $4 on Aster while XPL elsewhere stayed near $1.30. The mismatch forced mass liquidations on the platform.
Aster Issues Refunds
According to Aster’s public messages and follow-up reports, the exchange moved fast to cover losses. Refunds were paid in USDT to accounts hit by the abnormal moves. A second round of payments covered trading and liquidation fees as well.
One analysis put the total reimbursements at about $16.6 million, though figures vary across sources. Reports say many affected traders received compensation within hours of the incident being acknowledged.
Compensation for the XPL perp incident has now been fully distributed. All affected users have received reimbursement directly in USDT to their accounts.We appreciate your patience and understanding throughout this process. For any further questions, please submit a ticket via… https://t.co/Wp0en9vm44— Aster (@Aster_DEX) September 26, 2025
Faulty Index And Cap Settings
Based on reports, the underlying problem was a configuration error tied to the contract’s index and price cap. The index had been hard-coded at $1 during the token’s pre-launch setup, and a mark price cap near $1.22 was in place to limit swings.
TLDR on Aster $XPL  Situation:> Index price was hardcoded to $1
> Mark price was capped at $1.22
> When they removed the price cap, it spiked to $4 while prices remained stable on other exchangesThis was a result of gross negligence on the exchange operators. No exploits/etc. https://t.co/e8xR01FLY9 pic.twitter.com/hCdj2bvua1— Guthix 🫵 (@GuthixHL) September 25, 202

That cap was lifted before the index was corrected, allowing the Aster mark price to run away from external market prices. As a result, positions were liquidated on the platform even though the broader market showed no similar spike.

The event left a sting for some traders. Large liquidation losses and fees hit accounts that were long or short with leverage. Some users reported lingering questions about margin points and trade history even after reimbursements landed.
At least one report indicated that Aster reported all client funds as SAFU and that full internal procedure review was promised.
Community Response And Further Steps
According to social media reports, the response was divided. Some traders complimented the immediate refunds, describing the action as restoring short-term confidence.
Some called for stricter screening and more explicit communication. Industry watchers pointed to the incident as a reminder that both decentralized and centralized platforms can fail when index feeds, caps, or other safety switches are misconfigured.
On-chain traces and transaction receipts for refunds were suggested as ways to confirm that reimbursements were completed.
Aster’s handling avoided a prolonged user revolt, but the incident highlights a simple point: small code or setting mistakes can cause big money moves.
Exchanges will likely face fresh questions about testing, pre-launch checks, and how quickly safeguards can be re-enabled.

#aster #XPL
#Plasma