AsterDEX has been all over crypto-twitter recently as a possible perpDEX alternative to Hyperliquid. I've been playing around on Hyperliquid via Infinex... and it is pretty nice and damn well polished. I can definitely see how it has been a big drawcard... and it is a huge step up from the DEXs of the last generation... speed and liquidity problems are a thing of the past.

Anyway, AsterDEX on BNBChain was spruiked by CZ and backed by Binance. I figured that I missed all the airdrop events and all of that... these days, I'm just too afraid to run around the internet clicking and blindly approving everything in the quest for airdrop tokens. Not worth it if you ask me.

Anyway, I was listening to a podcast recently, and they were talking about AsterDEX and how it was rebranded from APX Finance... and I was thinking... hey, that is a familiar sounding name. There have been so many Pancakeswap pools that I have taken part in... and that has led to a long tail of mostly worthless tokens that I have tended to swap immediately for stablecoins.

But I had a quick check... and it turns out that there were APX tokens, and that I was still just in time for a 1:1 swap to Aster! Honestly, I really hate these token swaps and rebrands... if you aren't always locked into the loop, they start depreciating the tokens and I'm assuming that quite a lot of people end up losing the worth of their tokens. I think that there should be no tailing of these things... with a constant full swap always being possible.

I poked around the DEX a bit... it is pretty decent, but doesn't seem like anything that special. It is on Binance Chain, and so there is a fair bit of speed to it given the smaller validator set compared to Ethereum. But Hyperliquid runs as a L2 (or L3) and backed by Ethereum, so speed isn't an issue there either.

So far, I'm not really seeing much of a use case for the ASTER token... I sold a little bit while the hype was around, and I will explore a bit more later to see if it can be staked or something.

However, something that did catch my eye was the ability to like BNB tokens into asBNB... which would take yield from Binance exchange Launchpads and HODLer airdrops... something that was decently profitable for me in the past, but in Australia am locked out of... thanks for protecting me from easy money...

I will move some BNB to this so that I can get some exposure to these events... but not too much as there is always on-chain contract risk and it is dangerous to put too much in one bucket... even if the yields are pretty nice... actually, more yield is more risk... so, even more reason to be careful!

Handy Crypto Tools

Infinex: The future of self-custodied crypto wallets. Simple but powerful to use, made for normies!
Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Coinbase Wallet: Multi chain wallet with lots of opportunities to Learn and Earn!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
WooX: The centralised version of WooFi. Stake WOO for fee-free trades and free withdrawals! This link also gives you back 25% of the commission.
GMX.io: Decentralised perpetual futures trading on Arbitrum!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
Crypto.com: Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
KuCoin: I still use this exchange to take part in the Spotlight and Burning Drop launches.
MEXC: Accepts HIVE, and trades in most poopcoins! Join the casino!
ByBit: Leverage and spot trading, next Binance?
OkX: Again, another Binance contender?