Aster Compensates Traders After XPL Perpetual Price Spike Triggers Losses

Aster makes traders whole after XPL perpetual contracts go haywire—proving even in crypto's wild west, some platforms actually honor their commitments.

The Reckoning

When XPL's perpetual contracts snapped like a rubber band, Aster didn't hide behind fine print. The exchange cut checks to affected traders within 48 hours of the price anomaly. No bureaucratic runaround—just direct compensation hitting wallets while other platforms would still be forming committees.

Damage Control Protocol

Aster's risk engine flagged the irregular XPL movement instantly. Their team bypassed standard escalation procedures, deploying emergency liquidity to prevent cascading liquidations. The response showcases how mature crypto infrastructure now operates—faster than traditional finance's glacial dispute resolution.

Market Implications

This sets a new benchmark for exchange accountability during volatility events. While regulators draft reports, crypto-native solutions already protect traders. One cynical observer noted it's almost as if... platforms make more money from keeping customers than screwing them over. Revolutionary concept.

Aster Begins Rapid USDT Reimbursements After XPL Price Glitch

Within an hour, the exchange confirmed the incident was resolved and began reimbursing liquidated users in USDT.

The initial round of reimbursements was completed within three hours, followed by compensation for trading and liquidation fees.

According to community speculation, the issue may have stemmed from an internal oversight during the shift from pre-launch to live trading for XPL contracts.

Some users suggested Aster had previously hardcoded the index price at $1 and capped the mark price during testing.

When those controls were lifted without syncing to the live market, a sharp price jump triggered forced liquidations. Aster has not officially confirmed the cause but stated it is continuing to investigate.

The value of the compensated losses remains undisclosed, though estimates from traders suggest the liquidations ran into the millions.

The XPL listing came just hours after the mainnet launch of Plasma, a stablecoin-focused LAYER 1 blockchain.

Plasma debuted with more than $2 billion in total value locked in stablecoins, immediately placing it among the top 10 blockchains by stablecoin liquidity. XPL, its native token, quickly reached a fully diluted valuation above $12 billion.

The issue on the XPL perpetual trading pair has been fully resolved.

All users liquidated during this period will have their liquidation losses calculated and reimbursed directly to their wallets in USDT within the upcoming hours. Further updates will be shared shortly. We…

The incident comes during a surge in Aster’s market presence. Since launching its ASTER token on September 17, the platform’s valuation soared from $560 million to over $15 billion.

Aster has recently overtaken rival Hyperliquid in daily perpetuals volume and is expected to close the month with record-breaking figures.

Aster’s unique “hidden orders” feature, allowing users to place invisible limit orders, has helped it differentiate in the crowded perp DEX landscape, where transparency is typically the norm.

Aster Fuels Perp DEX Boom with $70B Record Volume

Perpetual trading volumes on decentralized exchanges hit a record high of $70 billion on Thursday, marking the third consecutive day of volume growth.

Aster, a new derivatives platform on BNB Chain, led the surge, contributing nearly $36 billion, or more than half, of total perp DEX activity, surpassing Hyperliquid and Lighter.

The surge follows a week of explosive growth for Aster, which topped $24.7 billion in volume the previous day.

Much of the platform’s momentum is attributed to incentive farming: users earn points by trading, minting, or holding assets, making them eligible for future airdrops.

As reported, crypto exchange OKX built a decentralized perpetuals trading platform similar to Hyperliquid and ASTER, but shelved its mainnet launch due to regulatory concerns, according to founder and CEO Star Xu.