Original source: Aster

The decentralized derivatives trading platform Aster held a community AMA event titled "Aster's Roadmap Unfolds: Milestones, Missions, And The Future" on November 10 at 1 PM UTC, synchronized on Discord and X (formerly Twitter).

The event was hosted by Ember, the head of partnerships at Aster, with Aster's CEO Leonard as the core guest. In a deep dialogue lasting an hour, Leonard not only reviewed the platform's recent milestone achievements but also detailed Aster's upcoming privacy-focused Layer 1 (L1) public chain plans to the global community, engaging in candid and in-depth discussions on core topics such as token empowerment, global market expansion, and liquidity strategies.

From Functional Innovation to Market Breakthrough

Leonard first reviewed Aster's technological iterations and market performance over the past few months. As a seasoned professional with a traditional finance background who has worked on building stock trading risk engines, Leonard emphasized the Aster team's efficient execution in technology implementation.

He stated that Aster has recently successfully launched several core features, including hidden orders, a new buyback system, spot trading, and stock and index perpetual contracts.

At the same time, the platform has not only initiated the "Rocket Launch" launchpad program but has also started the fourth phase of its airdrop activities. Leonard remarked, "Every step Aster takes has been largely reshaped by the voices of the community. We hope to give back value to our supporters through these tangible product deliveries."

Building a Privacy-Driven High-Performance L1 Public Chain

The highlight of this AMA was undoubtedly Leonard's in-depth explanation of Aster's Layer 1 public chain vision. In response to community questions about "why not continue to develop a pure DEX and instead choose to develop an independent L1," Leonard stated, "Our mission is to completely rebuild the experience of centralized exchanges (CEX) on-chain."

Leonard candidly pointed out that current general-purpose blockchains are not designed for an ultimate trading experience; Aster needs a blockchain that can directly embed order book logic into the protocol layer. However, he also raised an industry pain point: Is a fully transparent on-chain order book (like the Hyperliquid model) really the ultimate solution?

Leonard referenced recent industry discussions about how excessive transparency in Perp DEX can lead to the failure of trading strategies and make traders vulnerable to attacks, revealing that Aster quickly launched its hidden order system just 10 days after these discussions arose. He emphasized, "Privacy is a fundamental right. For many professional traders and institutions, the ability to protect or not disclose their trading signals through a public order book is key to whether their strategies can be effective."

The design philosophy of Aster L1 is similar to that of Zcash, aiming to address the pain points of institutional traders by combining a high-performance Central Limit Order Book (CLOB) blockchain with privacy options. Aster's public chain is expected to complete internal testing by the end of this year and officially launch its mainnet in the first quarter of 2026.

Regarding the performance and economic model of L1, Leonard revealed that Aster L1 will offer TPS comparable to centralized databases, but the real killer feature lies in the differentiated value brought by "privacy options." In terms of the economic model, L1 will achieve near-zero gas fees and incentivize validators and stakers through ecosystem allocations and transaction fees generated by the protocol, creating a self-sustaining economic loop.

Token Empowerment

Regarding the community's most concerned issue of $ASTER token empowerment, Leonard provided a clear timeline and application scenarios during the AMA. He promised that in the next two quarters, the team will focus on the concrete utility of the token.

Currently, fee discounts, airdrop rights, and VIP levels have been launched. With the launch of L1, staking and governance will become the core utilities of the token. Leonard explained in detail that the staking feature is expected to launch simultaneously with L1, where validators will maintain network security and earn rewards, while token holders can share rewards through delegated staking and participate in community governance.

Additionally, to provide value even before the L1 launch, Aster is exploring partnerships with lending protocols (such as Lista and Venus) to create additional income for ASTER token holders through a "Trade & Earn" model. Leonard emphasized, "These utilities are independent of the chain's release and are designed to provide continuous value capture for long-term holders."

Competing with CEX

When discussing liquidity and the introduction of institutional funds, Leonard showcased his macro vision as a former traditional finance professional. He believes that Aster's competitors are not other Perp DEXs but the still-dominant centralized trading platforms.

"Institutional adoption of new technologies is slow, and their primary considerations are fund safety and risk control. However, after the FTX incident, everyone realized that 'self-custody' can fundamentally reduce counterparty risk," Leonard analyzed. Aster provides a highly capital-efficient "Trade & Earn" design (for example, supporting USDF as collateral), allowing institutions to achieve considerable incremental gains under large-scale capital operations.

Regarding liquidity building, Leonard stated that Aster has significantly improved the depth of major assets like BTC, ETH, and SOL through its Market Maker Program. The next step will be to tilt the incentive mechanism towards long-tail assets to improve the trading experience of smaller coins and welcome more liquidity providers to join.

Ecological Expansion

Regarding global expansion, Leonard revealed in his response that Aster has established a solid foundation in the Asian market, with successful cooperation in the Korean market providing a replicable model. The team is currently actively entering the Western European and North American markets by hosting offline events in New York with partners like BNB Chain and recruiting local talents who are well-versed in local culture to build trading products that align with local user habits.

On the asset side, Aster has launched the "Rocket Launch" launchpad, specifically providing liquidity support for early projects in the Pre-TGE phase; for Post-TGE projects, liquidity will be guided through customized trading activities. Leonard emphasized, "We are not just a trading platform; we are also discoverers and accelerators of early high-quality assets."

Q&A Session

In the final segment of the AMA, Leonard answered specific technical details of community concern in a rapid-fire format:

Regarding the multi-asset margin model: Leonard clearly stated that the focus remains on USDT-based and multi-asset full collateral models. Although reverse contracts (Coin/Inverse margin) are on the roadmap, they will be launched only after the current system is perfected.

Regarding the exact timeline for L1: The team has set an aggressive goal to prepare for the testnet by the end of 2025 or early 2026, with the mainnet release window locked in for the first quarter of 2026.

Regarding the buyback and burn mechanism: Aster has already executed buybacks in the open market to ensure transparency. In the future, this mechanism will migrate to Aster L1, where the size, price, and accounts of each transaction will be traceable on-chain, eliminating front-running risks and gradually evolving into a programmatic stability mechanism.

This article is from a submission and does not represent the views of BlockBeats.

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