Aster DEX is leaning into a privacy-first roadmap, plus some pointed competitive jabs at Hyperliquid, after a breakout token debut. In a new interview posted on X, CEO Leonard told Cointelegraph’s Gareth Jenkinson that Aster is internally testing its own L1 to verify trades without broadcasting positions, aiming to stop copycats and forced liquidations seen on fully transparent order books.
So $ASTER has been blowing up the CT timeline.
I believe I am the first person to interview @Aster_DEX CEO Leonard since their TGE.
Here's the alpha 👇
🛠️ Aster L1 coming
🔏 @JamesWynnReal talks
🥊 Hyperliquid trading on Aster
💹 Binance talks
💰 Token buyback plans🩷&🔁 pic.twitter.com/l8znDSAL9z
— Gareth Jenkinson (@gazza_jenks) September 25, 2025
The push comes as $ASTER racked up outsized attention post-TGE. Exchange trackers and crypto media reported a four-figure percentage surge in the first week and heavy turnover, with coverage citing day-one volume around $371M and subsequent sessions showing derivatives activity near $11B. Figures that put Aster on the radar of perpetuals traders hunting deep liquidity.
Aster’s momentum has also been helped by public praise from Binance founder Changpeng “CZ” Zhao, who posted “well done” about the launch, rare, given how infrequently he highlights new tokens beyond BNB and BTC. That nod fed a narrative that Aster is a CZ-favored rival to Hyperliquid, with several outlets exploring whether $ASTER can siphon market share from HYPE.
In the interview, Leonard said Aster plans to list 300x markets, including on competitors’ tokens, and is designing a token buyback program to recycle exchange revenue to holders. He avoided hard numbers, arguing the buyback ratio has to balance long-term product investment with value return.
Leonard also said talks with Binance are ongoing, while cautioning that Aster ultimately wants projects to seek listings on Aster rather than on centralized venues.
Why privacy is Aster’s wedge
Jenkinson linked Aster’s privacy pitch to the James Wynn saga on Hyperliquid, where a giant on-chain position was tracked and later closed at a loss. Leonard said Wynn’s public comments after that episode helped inspire Aster’s approach: verifiable fills, hidden positions. Wynn’s trade, one of the largest public bets on the platform, was widely reported in May.
That kind of information asymmetry (others seeing your size and liquidation band) is a known risk on chain; Aster is betting that private state plus public proofs will attract pros who want deep liquidity without telegraphing size.
Can Aster dent Hyperliquid’s lead?
Hyperliquid remains the category leader by daily and monthly volume share, and analysts note Aster still has to prove depth and consistency once the post-TGE frenzy cools. Even so, several outlets now track Aster’s market-cap catch-up potential versus HYPE, pointing to the CZ halo, user growth, and liquidity incentives.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
