Aster vs Hyperliquid: Best Perp DEX of 2025 REVEALED | Speed, Leverage & Tokenomics Compared - video Dailymotion

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Aster vs Hyperliquid: Best Perp DEX of 2025 REVEALED | Speed, Leverage & Tokenomics Compared  Aster vs Hyperliquid, best perp DEX 2025, crypto leverage trading, decentralized exchange comparison, HYPE token, ASTER token, Hyperliquid speed, Aster features, CZ Binance endorsement, DeFi trading platforms, perpetual DEX review, crypto derivatives 2025, on-chain vs off-chain matching   Here’s your **SEO-optimized title, description, and tag pack** for the video/article **“Aster vs Hyperliquid: BEST Perp DEX in 2025 REVEALED”**, crafted for maximum reach across **YouTube, Google, CoinMarketCap, and DeFi news platforms**:  ---  ## 🔥 **SEO Title (High CTR + Keyword Density)**   **Aster vs Hyperliquid: Best Perp DEX of 2025 REVEALED | Speed, Leverage & Tokenomics Compared**  > 🔍 *Keywords embedded*: Aster vs Hyperliquid, best perp DEX 2025, decentralized trading, crypto leverage, DeFi comparison  ---  ## 📄 **SEO Meta Description (Under 160 Characters)**   Aster and Hyperliquid battle for Perp DEX dominance in 2025. Which wins on speed, leverage, and tokenomics? Full breakdown inside.  ---  ## 📜 **Long-Form SEO Description (YouTube + Blog Optimized)**   The **2025 Perpetual DEX war** is heating up—and two giants are leading the charge: **Aster** and **Hyperliquid**. This video/article dives deep into their strengths, weaknesses, and what traders need to know:  ### ⚔️ **Head-to-Head Breakdown**: - **Speed & Execution**:     - Hyperliquid: 200,000 orders/sec via HyperBFT, zero gas fees     - Aster: Off-chain matching with hidden orders, Binance ecosystem boost  - **Leverage & Features**:     - Aster: Up to **1001× leverage**, stock perps, multi-chain support     - Hyperliquid: Clean UI, deep liquidity, explorer-verifiable on-chain intent  - **Tokenomics**:     - HYPE: ~$16B market cap, 24-month emission ramp     - ASTER: ~$2.85B market cap, 90% unlock by 2032, CZ-backed hype  - **User Base & Volume**:     - Hyperliquid: 998K+ users, $5.2T cumulative volume     - Aster: 2M+ users, $544B volume in first week  ### 🧠 **What Traders Should Watch**: - Retention (30–90d), slippage at fixed size, and OI stability   - Incentive sustainability vs organic growth   - Regulatory risks for cross-chain leverage  Perfect for viewers tracking **DeFi innovation**, **crypto derivatives**, and **next-gen trading platforms**.  ---  ## 🎯 **High-Ranking SEO Tags / Keywords**   ``` Aster vs Hyperliquid, best perp DEX 2025, crypto leverage trading, decentralized exchange comparison, HYPE token, ASTER token, Hyperliquid speed, Aster features, CZ Binance endorsement, DeFi trading platforms, perpetual DEX review, crypto derivatives 2025, on-chain vs off-chain matching ```  ---  ## 📢 **Hashtag Pack (Use in Description + Comments)**   #AsterDEX #Hyperliquid #PerpDEX2025 #CryptoTrading #DeFiBattle #HYPEvsASTER #BinanceEcosystem #DecentralizedTrading #LeverageCrypto #DEXComparison

Transcript

00:00For the past year, Hyperliquid has dominated on-chain derivatives trading.

00:04Nobody had come close to touching their market share or technology.

00:09But recently, one of the biggest names in crypto has been tweeting about Aster like it's the second coming of DeFi.

00:16With billions behind it and some truly unhinged features, could Aster therefore threaten Hyperliquid's reign?

00:23Today we find out. My name is Guy and you're watching The Coin Bureau.

00:26First things first, none of this is financial advice.

00:30It's just educational content intended to inform you about Hyperliquid and Aster.

00:35Also, you should know that this video is not sponsored in any way,

00:39but if you do want to try out Hyperliquid or Aster for yourself, I've got good news for you.

00:44You can get a 4% trading fee discount and rebate on Hyperliquid

00:48and a 5% rebate for life and potential airdrop points on Aster

00:52just by using the sign-up links in the description or by scanning one of these two QR codes.

00:59This one for Hyperliquid, this one for Aster.

01:03So, sign up quick to make sure you're making the most of those fee rebates and discounts.

01:08Okay, now, Hyperliquid started as Chameleon Trading in 2020,

01:13a crypto market-making firm run by Jeff Yan, a Harvard maths graduate,

01:17who'd cut his teeth at Hudson River Trading, one of those high-frequency trading shops

01:22where they count latency in nanoseconds.

01:25By 2022, Yan had pivoted from making markets to building them,

01:29launching Hyperliquid as a decentralized exchange.

01:32The founding mythology is almost religious in its purity.

01:36Yan rejected all venture capital funding,

01:39railing against VC big bucks for creating a, quote,

01:42illusion of progress that inflates valuations without building real utility.

01:48To be exact, he said VCs become, quote,

01:51a scar on the network when they own too much of a crypto project.

01:55His exchange, then, would be entirely self-funded, bootstrapped, and built on merit alone.

02:01But then there's this rather inconvenient pitch book entry from the 27th of May 2024,

02:08showing Hyperliquid is venture-backed by four firms.

02:11Collab Plus Currency, Infinite Capital, Optimista Capital, and Rockaway X.

02:17Now, maybe it's misreporting.

02:19Maybe these are strategic investments that somehow don't count as VC funding.

02:24Maybe Yan's definition of venture capital operates on a frequency the rest of us can't perceive.

02:29Either way, though, there is some confusion about where the money came from.

02:33Meanwhile, rival PerpDex Aster has taken the opposite approach,

02:37shameless about its money from day one.

02:39The founders remain undisclosed, but the project is backed by Easy Labs,

02:44the $10 billion family office of Binance co-founders Changpeng Zhao, aka CZ, and Yihei.

02:51Their strategic support includes what industry insiders call the Binance ecosystem synergies.

02:58Translation, when you're backed by the people who built the world's largest crypto exchange,

03:03hey presto, doors magically open.

03:05Now, Aster has in large part been tweeted into the limelight by CZ,

03:10who publicly congratulated them on their token generation event and praised features like hidden

03:15orders. Each tweet sent waves through crypto Twitter because, well, this is CZ's world and

03:21the rest of us just live in it.

03:24Now, the contrast between the Dex competitors couldn't be starker.

03:28One claims it rejected the very concept of institutional money while apparently doing the opposite.

03:34The other proudly leveraged Binance's ecosystem and connections from the start.

03:40One was built in the shadows, apparently with just 11 people.

03:43The other launched with arguably the most powerful dude in crypto as their hype man.

03:49But of course, origin stories don't execute trades.

03:53So let's look at what these platforms have actually built.

03:57Hyperliquid went for full vertical integration, building their own layer one blockchain from scratch.

04:02They control every layer of the tech stack in-house, meaning there's no relying on Ethereum for

04:09settlement or Arbitrum for execution.

04:11Hyperliquid's blockchain, the consensus mechanism, the order matching engine, the liquidation system,

04:17everything is their own.

04:19And the architecture splits into two distinct components.

04:23Hypercore is the native execution environment that handles all the exchange operations,

04:28order matching, margining, liquidations and settlement.

04:30Think of it as the engine room where all the actual trading happens.

04:36Then there's HyperEVM, which is exactly what it sounds like, an Ethereum virtual machine

04:41implementation that lets developers build smart contracts and dApps on top of the exchange.

04:47The custom consensus mechanism, HyperBFT, is where YAN's high-frequency trading background

04:53shows. The system processes up to 200,000 orders per second with sub-0.2-second finality.

05:01For context, that's faster than most centralized exchanges.

05:05Everything happens on-chain, matching, margining, liquidations, which means no dark corners where

05:12shenanigans can hide.

05:14The transparency is almost aggressive.

05:16Every order, every trade, every liquidation level sits there on the blockchain for everyone

05:23to see.

05:24Great for trust, potentially problematic when whales can see exactly where your stops are

05:29sitting.

05:30Now, feature-wise, Hyperliquid offers perpetual futures with up to 50x leverage and both cross

05:36and isolated margin modes.

05:38There is a vaults feature that enables social trading, meaning you deposit funds into a vault

05:43managed by someone else who trades on your behalf.

05:46You can follow successful traders, copy their strategies, and let them manage your crypto

05:51if you so desire.

05:52Hyperliquid also runs its own HLP vault that generates yield through automated strategies.

05:58It supports over 100 trading pairs skewing towards crypto blue chips, and the liquidity on major

06:04pairs is genuinely impressive.

06:06Traders can, and do, throw serious size at BTC perps without moving the market much.

06:13That's not something you can say very often.

06:16Now, what about Aster?

06:19Well, they took the opposite approach architecturally.

06:22Horizontal integration across multiple chains.

06:24Instead of building their own blockchain, they aggregate liquidity from BNB chain, Ethereum,

06:29Solana, and Arbitrum.

06:31It's the why-choose strategy.

06:33That means more flexibility, but also more potential points of failure.

06:38Now, Aster originally had two modes, Pro and Simple, which have now been renamed simply Perpetual and

06:461001X.

06:48Perpetual is what you'd expect from a traditional perps platform.

06:51Full order book visibility, limit orders, stop losses, trading view charts.

06:56You can set up complex positions, use custom trading strategies, and see market depth.

07:01The interface design is clean, easy on the eye, and the rounded sans-serif typeface creates an

07:07incongruously cute appearance for a derivatives trading terminal.

07:11Now, Aster's appeal to a casual audience is perhaps most apparent in the 1001X feature,

07:19which is always only one click away at the top of the UI.

07:22This is essentially one-click gambling.

07:25You pick a direction, up or down in lieu of long or short, set your leverage up to 1001X,

07:32and hope for the best.

07:34The platform handles everything else, including your inevitable liquidation.

07:39The default chart here is a simple line graph, which tends to open on timeframes of 5 minutes or lower.

07:46And if you crank your leverage past 250X, Aster helpfully tells you you are in degen mode,

07:54so you'd better play it safe at 249X, not financial advice.

07:58On the bright side, it's MEV-resistant, meaning bots can't front-run your trades as easily.

08:04There are no order books to read, no complex interfaces, no need to understand what funding rate means.

08:10But Aster's killer feature is arguably stock perpetuals, a feature notably absent from hyperliquid.

08:18You can trade Apple and Tesla contracts 24-7, settled in USDT, with up to 50X leverage.

08:25The stock market's closed? Doesn't matter. It's Saturday? Who cares?

08:29Want to long Tesla at 3am with borrowed money? Aster's got you covered.

08:34And they've also introduced hidden orders, essentially a dark pool where your orders

08:39don't show up on the public book. It's meant to protect against front-running

08:43and liquidation hunting. And CZ himself called for this feature, and lo and behold, it was done.

08:50Meanwhile, another clever Aster feature is the ability to use yield-bearing assets,

08:55like liquid staking derivatives, as collateral for trades.

08:59So your ASBNB or USDF keeps earning yields while you're using it to margin trade.

09:05It's leverage on leverage, yields on yields for maximum capital efficiency.

09:11So Aster and Hyperliquid's technical philosophies are worlds apart.

09:15Hyperliquid built a Formula One car, precise, powerful, designed for one thing.

09:20Aster built a Swiss Army knife attached to a rocket launcher.

09:24Ones for traders who know exactly what they want. The others for people who want everything,

09:30including options that, well, probably shouldn't exist.

09:34And now for the exciting part, the cryptos themselves.

09:36Hyperliquid's airdrop of Hype in November 2024 was by any measure wildly successful.

09:42Hype launched with 1 billion coins in total, and a fully diluted valuation of around $40 billion.

09:49Those numbers sound insane until you see what they did with distribution.

09:55310 million of those coins, worth $1.2 billion at launch, were distributed to 94,000 users.

10:04There were no venture capital allocations, allegedly. No cliff of tokens unlocking the next week.

10:10Just the biggest airdrop in crypto history going straight to actual users.

10:16And it doubled their user base overnight.

10:19Despite this massive cohort of potential sellers though,

10:23Hype rapidly appreciated in value after the airdrop.

10:26And after the mini bear market of Q1 2025, it went on to have one of the strongest charts in all of crypto this year.

10:34Hype's rise has been fueled in no small part by Hyperliquid's aggressive buyback mechanism.

10:40Between 93 and 97% of all protocol fees go towards buying Hype from the open market and then burning it.

10:50Every trade, every liquidation, every fee generates buying pressure.

10:54It's a deflationary flywheel tied directly to volume.

10:58Now, the coin went from $3.90 at launch to an all-time high above $59 on the 18th of September.

11:06When your entire token model is we buy it back with real revenue, well, price tends to go up.

11:13Hype also serves as the gas token on HyperEVM, provides staking rewards for securing the network,

11:20currently 16 to 21 validators, and offers trading fee discounts up to 20%.

11:26It's utility stacked on utility.

11:29Plus, Hyperliquid just launched its own stablecoin, USDH, in partnership with native markets,

11:35which should mean even more revenue as adoption of it picks up.

11:40And crypto asset manager DBA, which is one of Hype's biggest holders,

11:44recently published a proposal to cut the coin's supply by up to 45%.

11:49Specifically, the proposal cites the large 50% allocation of the coin to

11:54community rewards as a drag on Hype's valuation.

11:57This has proven controversial, though.

12:00Crypto VC Hasib Qureshi, Managing Director at Dragonfly,

12:03voiced his support for the proposal, dismissing the community rewards allocation as a

12:08quote, amorphous slush fund.

12:11Another ex-user was less impressed, however, calling the proposal quote,

12:15foolish and a disaster, and future emissions, Hyperliquid's quote,

12:20most powerful growth tool.

12:22Now, any changes will have to be put to a vote by Hyperliquid's governance members,

12:27including DBA.

12:28And this Hype overhang is looming at a serendipitous moment for Aster,

12:33which launched and airdropped its Aster token in mid-September.

12:37As Arthur Hayes' Maelstrom Fund put it, quote,

12:41CZ pushing Aster two months before Hype unlocks?

12:44Probably not a coincidence.

12:46And more pointedly, quote,

12:48you don't eat the crypto establishment's lunch and walk away unchallenged.

12:52So how does the Aster token compare to Hype?

12:56Well, Aster launched with a maximum supply of 8 billion tokens

13:00and an initial circulating supply of around 1.656 billion tokens.

13:05They allocated 53% of supply, around 4.3 billion tokens, to airdrops.

13:11That's over half the entire supply going to the community,

13:14which is remarkably generous,

13:16but it's also a recipe for constant cell pressure.

13:20Now, if you're wondering how this is different from Hype's generous airdrop

13:24and upcoming unlocks,

13:26there are some key differences in how and when the tokens will be distributed.

13:31Hype had a one-off airdrop of around 240 million coins,

13:35or almost a quarter of the supply.

13:37More than a year later, though,

13:39the circulating supply is still only 270 million coins.

13:43The airdrop generated extreme FOMO, with Hype's price action after the fact

13:48luring in buyers who were kicking themselves for missing out

13:51on a life-changing amount of free crypto.

13:53Aster, meanwhile, has deliberately pivoted away from the Big Bang model.

13:58It's dedicated a little over half of its 8 billion max supply to community rewards

14:03through rolling airdrops and ongoing incentive programs.

14:07These are explicitly designed for long-term distribution

14:11to foster user engagement, governance participation, and ecosystem growth on the DEX.

14:16At the TGE on the 17th of September, around 9% of the max supply was distributed

14:22in a first airdrop batch to participants in Aster's pre-launch campaign.

14:27A second batch followed soon after, airdropping another 4% of the supply to users of the DEX

14:33based on trading volume, position holding time, PNL, use of yield-bearing collateral, and referrals.

14:39A third batch is expected to follow, incorporating spot trading metrics for even broader participation.

14:46The rest of the supply of Aster will then be distributed in subsequent batches and on locks

14:52over the next 80 months. That's nearly seven years of tokens slowly hitting the market.

14:59The team's 5% allocation has a one-year cliff followed by 40 months of vesting.

15:05Meanwhile, another 30% goes to ecosystem growth, which is code for we'll figure it out later.

15:11And Aster should become an interesting case study on how drip-feeding airdrops impacts supply,

15:17demand, and sentiment. It might succeed as a continuous draw on mindshare, but equally it might depress

15:24perceived scarcity if market participants know they can get Aster for free at a later date.

15:29And speaking of airdrops, don't forget about that fee rebate that you can get over here by signing up

15:35with this QR code or the link in the description. The more trading you do, the more potential points

15:41you earn for their next airdrop campaign. And now it's time for the adoption reality check.

15:47Hyperliquid is the undisputed king of perp-dexes with over $6.5 billion TVL, over $2.7 trillion in

15:55cumulative volume and hundreds of billions in monthly volume. They're pulling in more than

16:00a billion dollars in annualized revenue, which is more than Ethereum and Solana. And their user base

16:06is approaching 700,000. Not massive by centralized exchange standards, but these are actual traders,

16:14not airdrop farmers. Hyperliquid has also secured an official partnership with Circle for native

16:21USDC integration, and this is the kind of institutional stamp of approval that brings

16:26serious capital. Not to mention that new native stablecoin too. Meanwhile, Aster's growth trajectory

16:33looks like a meme coin chart. Two million users total, with 330,000 joining in the first 24 hours

16:40after TGE. After launch, TVL peaked at $2 billion, but has since settled back down closer to $1 billion at

16:48the time of shooting. Metrics on June Analytics are exploding, with 24-hour volume and fees both more

16:55than double hyperliquids. And this is no doubt helped by Aster's multi-chain approach, which means

17:00they're fishing in every pond. Ethereum users, Solana speculators, BNB whales. And those stock

17:07perpetuals are a real competitive advantage over hyperliquid, where you can't trade 24-7 Tesla contracts

17:14with 50x leverage. But the proof will be in the pudding next month, when we'll find out just how

17:20many of these traders stick around after a third airdrop is complete. Still, when CZ tweets, money

17:27moves, and he has been tweeting vigorously. At the time of making this video, the price of Aster has

17:33been rallying hard, and it doesn't even have a spot listing on Binance yet. Though, let's not forget

17:39that Binance listings have marked significant altcoin tops in the past, with listing pumps often

17:45being followed by multi-month downtrends. But let's not get too excited. We all know there are risks to

17:53crypto, and this is especially true when it comes to anything involving leverage. Hyperliquid's Achilles

17:59heel is centralization. The core software is closed source, and the entire network is run by 21 validators

18:06at most. For something claiming to be decentralized, that's uncomfortably, well, centralized.

18:14An incident of on-chain price manipulation back in March exposed this reality. When someone tried to

18:21exploit the system, validators had to manually intervene to prevent losses. They saved the day,

18:27but it proved the decentralized exchange has a very centralized kill switch. The transparency that makes

18:34everything verifiable also makes everyone vulnerable. Every liquidation event is visible on-chain.

18:41Whales can see exactly where to push price to trigger cascading liquidations. It's like playing poker with

18:48your cards face up. Aster's weakness, meanwhile, is its dependence on hype, specifically CZ's hype. Having

18:55your TVL alternatively doubling and halving again based on tweet patterns is not the mark of a robust

19:02foundation. And then there's the hacker's paradise of multi-chain architecture. Cross-chain bridges are

19:08the soft underbelly of DeFi, where hundreds of millions of dollars worth of crypto are routinely

19:14siphoned out by attackers who smell vulnerabilities like a piranha smells blood in the water.

19:19With Aster's operating across four chains, that's four times the attack surface. There's also the

19:25potential reputation issue. Critics call Aster the Timu of perp-dexes, a cheap knockoff riding on

19:32borrowed legitimacy. And the massive airdrop allocation means seven years of sell pressure,

19:38while those 400% staking yields read like a desperate incentive to prevent holders from dumping.

19:45When those incentives dry up, mercenary capital usually leaves. So then, which one wins?

19:51Well, Hyperliquid has arguably built a better trading machine. It's faster, more efficient,

19:57and generates real revenue with arguably more sustainable tokenomics. The tech is genuinely

20:04impressive, processing more orders per second than most centralized exchanges while keeping everything

20:09on-chain. That's as close to winning as you get in DeFi. But Aster might have the better strategy.

20:16Multi-chain means more users. Stock perps means unique products. CZ's backing means unlimited marketing

20:25budget. They're growing faster, innovating more aggressively, and they aren't afraid to offer insane

20:30features that nobody knew they needed, like 1001x leverage. So perhaps we can think of these as the two

20:38faces of crypto. Hyperliquid with the cypherpunk dream rejecting VCs, allegedly, building purely on merit,

20:45letting the product speak for itself. Aster, though, is crypto reality, backed by billionaires,

20:51marketed by influencers, offering whatever insane yields get users through the door.

20:56Based on the five metrics we've examined – origins, tech, tokenomics, adoption, and risks – Hyperliquid is

21:03the better DEX today. But Aster has got crypto royalty behind it, and frankly, that might matter more than

21:10having the better product. What wins is distribution, marketing, and being good enough at the right

21:17time. The market will decide which one it wants, and… let's face it.

21:25Now, if you want to try out Hyperliquid or Aster for yourself, don't forget to take advantage of our

21:30links down below in the description. That's all from me for now, though. As always,

21:34thank you for watching, and I'll see you next time. This is Guy, over and out.

Aster vs Hyperliquid: Best Perp DEX of 2025 REVEALED | Speed, Leverage & Tokenomics Compared

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