The final 11 days of the $700 million airdrop: Aster's arbitrage strategies and team strategies explained
Pulling up the market is the best publicity. In just one week, the Aster platform surpassed 710,000 new users, and its perpetual contract trading volume reached $21.112 billion over the past 24 hours, more than double that of established DeFi derivatives platform Hyperliquid. The platform's TVL reached $1.744 billion, with 24-hour revenue of $7.12 million, placing it second only to stablecoin giants Tether and Circle in overall revenue rankings. In addition to "Can ASTER still be purchased?", "Can Aster still be swiped?" is also a frequently asked question. There are 11 days left in Aster's second season airdrop. The airdrop pool holds 4% of the total supply, approximately 320 million ASTER tokens. This means that at the time of writing, the S2 airdrop is worth over $700 million, calculated at the price of $ASTER$2.3. Against this backdrop, BlockBeats has compiled a list of Aster's most important airdrop strategies. 1. Aster × Backpack Hedge Arbitrage Strategy This is currently the most common strategy for brushing points. The core step is that two trading platforms (such as Backpack and Aster) simultaneously place orders in opposite directions for the same asset to achieve "point brushing + capture the difference in transaction fees." The only thing to note is that Aster uses "market orders" because Aster gets double points for taking orders. The detailed steps are to place a "limit order" on Backpack to short $ASTER and earn order-making points; then use a "market order" on Aster to execute the order immediately. Market orders must be executed quickly, otherwise one side may remain unfilled, creating a one-sided exposure. You need to decide how much weight to give to holding time and opening frequency. The longer you hold a position, the higher your points will be, but the maximum number of points is twice your weekly trading volume. To prevent being targeted by a Sybil, try modifying various parameters, such as the opening amount, opening multiplier, and opening direction. Avoid using the same parameters repeatedly, as high-frequency hedging may trigger risk control and Sybil attacks. Beginners should start with small amounts and gradually increase the multiplier and amount as they become more familiar with the process. 2. Eating Funding Rate This strategy is based on the swiping between two trading platforms, and the operation goes a step further to consume the funding rate. This primarily utilizes the perpetual contract funding mechanism. When the funding rate is positive, shorting the perpetual contract earns funding; when the funding rate is negative, going long on the perpetual contract earns funding. Funding rates typically vary between trading platforms. For example, the tool below shows the difference in funding rates, suitable opening positions, and APRs across various trading platforms. Data source: hibot Continue to use the previous Backpack (limit order) + Aster (market taker) method for spot hedging to earn points. Net profit = Point value + Funding rate income - Transaction fee cost - Slippage loss. Be sure to consider the trading platform's fee structure. Fees are generally categorized into two types: Taker orders, which are immediately executed and have higher fees; Maker orders, which are placed on the order book awaiting execution and have lower fees. Because real-time monitoring is required, this approach is best suited for experienced traders, or those using funding rate bots. Be mindful of latency and reconciliation across multiple accounts and trading platforms. Funding rate arbitrage typically spans longer periods than point arbitrage, so don't neglect position management. 3. Convert deposits to USDF In addition to the hedging and funding rate strategies mentioned above, Aster also offers a relatively low-risk, passive income-generating option: the "Trade & Earn" system based on USDF and asBNB. This product builds on Aster's predecessor's experience in stashed asset liquidity. Essentially, it combines trading and financial management, allowing users to maintain active trading while enjoying stable annualized returns. Currently, USDF offers an annualized yield (APY) of approximately 16.7%. There are two ways to participate: first, deposit rewards, which automatically accrue interest as long as you hold at least 1 USDF in your account. Second, trading rewards, which have slightly higher requirements, require users to be active at least two days per week and have a cumulative trading volume of over 2,000 USDT. Once these requirements are met, the system will distribute rewards the following week, directly depositing them into your trading account and automatically reinvesting them. In addition to USDF, Aster also offers asBNB, a similar asset with similar functionality and logic to USDF. Users can exchange BNB or slisBNB for asBNB, which can be used as margin and enjoy an annualized return of approximately 9.1%. Furthermore, Aster has incorporated a "double points" incentive into its trading system. If you choose to use USDF or asBNB as collateral, your trading points will be doubled, and the weekly trading volume cap will be doubled. This makes using these two assets almost a must for players seeking airdrop points or rebate rewards, effectively combining interest income with points benefits. In addition, holding $ASTER will give you a 5% fee discount, so it is best to hold a certain amount of $ASTER in each wallet. 4. Fleet Bonus Individual players earning points only yields limited benefits. However, if you can form a "team" and expand your network through invitations, you can leverage the points generated by others' transactions and further increase your share of the network through team rankings. In the long run, the points earned by a single account through individual transactions may be far less than the total contribution of an active team. Therefore, "invitations + teams" will become the key to widening the gap between players in the later stages. The core logic is to integrate the forces around you into a team through the two-level mechanisms of "recommendation" and "team contribution" to gain blessings for your own points. Specifically, referral rewards are divided into two tiers: If you invite a first-level user, you receive 10% of their RH points. If you invite a second-level user (i.e., someone your subordinate invites), you receive a 5% share of their points. However, please note that this share only applies to their transaction points, not referral points or team points themselves, to avoid "unlimited nesting doll" situations. Aster also introduced the concept of Team Points. Think of it as a team. Each team's points are settled on T+1 and compared against other teams. Before final points distribution, the system also makes some fairness adjustments, including limiting large-scale monopolies and smoothing out unusual fluctuations. In other words, team rewards aren't just about "the more people I invite, the better," but rather a comprehensive evaluation of "team activity" and "overall contribution." Ultimately, these points will be converted into your share of the platform-wide points pool on a weekly basis, directly determining how much rewards you'll receive in the upcoming $ASTER airdrop. Simply put: referrals give you a stable 10%/5% share; team points determine whether you can climb to the top of the leaderboard and receive higher bonuses. There are 11 days left in Aster’s second season airdrop. The airdrop pool accounts for 4% of the supply, which is approximately 320 million ASTER. As of the time of writing, the S2 airdrop is worth more than $700 million. Faced with such massive user growth and a complex points ecosystem, the Aster team has also made a clear statement: professional market makers will be excluded from the Rh points system and will not be eligible for $ASTER token airdrops. In the current second phase of Rh points calculation, pure spot holding and trading are not included in the points system, but this does not mean that spot trading is worthless. From the official statement, it is not difficult to infer that the airdrop rules in the third quarter are likely to include spot trading back in the points calculation. Therefore, there are still many opportunities for retail investors. However, it is important to note that the market is currently overheated, with FOM sentiment increasing, a proliferation of trading scripts, and the uncertainty surrounding the second quarter airdrop. Therefore, competition is still relatively fierce, and users need to be aware of the risks. Original link
