Aster Reimburses After XPL Perp Glitch Spikes Price to $4
Aster, a BNB Chain derivatives DEX, fixed a misconfigured index in its XPL perpetual market that drove the mark price cap above $1 and briefly sent XPL futures to nearly $4, triggering unexpected liquidations and abnormal fees. The platform quickly assured users all funds were safe and fully reimbursed losses, including trading and liquidation fees. Concurrently, Aster led a surge in perpetual DEX volumes, hitting a record $104 billion daily trading volume—$46 billion on Aster alone—and reaching $1.15 billion in open interest. Community members raised concerns over airdrop incentives and trading risks. XPL is the native token of Plasma, a layer-1 network optimized for stablecoins and EVM-compatible, backed by Peter Thiel and Paolo Ardoino, and recently saw strong demand as Ethena’s USDe markets on Aave via Plasma hit $1 billion caps within hours.
Bullish
Aster’s swift resolution and full reimbursement demonstrate strong risk management, likely bolstering trader confidence in Aster. Additionally, record-breaking daily trading volumes signal growing platform adoption and market liquidity. While the XPL perp glitch highlights operational risks, the quick fix mitigates long-term concerns. Historically, DEXs that maintain high liquidity and effectively address technical issues tend to attract more users to Aster, supporting price stability and upward momentum. Therefore, this event is overall bullish for Aster’s market position and user sentiment, suggesting potential short-term trading increases and sustained long-term growth.