Aster Reimburses Traders After XPL Perpetual Glitch
Aster has fully reimbursed affected traders after an abnormal price spike in its XPL perpetual contract triggered sudden liquidations. Following a full review, the platform completed USDT compensation to cover all trading and liquidation fees, with distribution starting within hours and finalized the next day. Despite this USDT compensation, Aster’s native ASTER token fell over 11% to $1.80 on investor scrutiny. The platform, backed by YZi Labs, assured users that all funds remained secure and pledged enhanced safeguards for its XPL perpetual contract to strengthen risk management. Traders should note these improvements in crypto derivatives trading.
Bearish
Although Aster’s swift USDT compensation demonstrates robust risk management and may shore up confidence in the platform long-term, the immediate market reaction drove the ASTER token price down over 11%, reflecting traders’ concern over the glitch. In the short term, this incident could heighten volatility and dampen buying interest, while in the long term, enhanced safeguards might stabilise the asset but uncertainty remains. Historical precedents show that contract glitches can cause lasting reputational damage, suggesting bearish sentiment until further proof of stability emerges.