Congratulations to everyone who invested in ASTER on DOKDODAO!
This project was a true supporter of DOKDO, having been shilled early on since the Asterus era.
The biggest reason was that the amount available was limited due to the sole investment from Banan Labs. While there were many depositors, very few burned on PERP. In fact, the results show that deposits yielded a 100% APY, while burned transactions yielded a return of approximately 20x at a base price of 0.45.
Perp DEX is now the meta. Avantis, BaseApp, and Aster are generating at least 10x returns, creating a sense of FOMO among many users.
However, not everyone can become an on-chain Binance or Bybit. A prime example is KiloX, which only returned 30% of its initial investment.
So, should we use PERP DEX? Projects that are currently promising include Lighter, EdgeX, and Backpack (a CEX with a points system). Backpack will likely be the last project to conclude the point meta.
The recent success of ASTER has been a case of extreme blocking of on-chain transactions, leading to a huge success, and I believe many PERP DEXs will follow this strategy in the future.
ASTER on-chain withdrawals will now open on October 1st. Until then, price volatility is expected to be very high, and this could lead to another historic milestone.
Personally, of the projects mentioned so far, Backpack is the most promising. They built a community with Mad Lads, achieved the grand goal of becoming an exchange, and achieved acquisitions in Dubai, FTX EU, and Upbit VASP approval. They also announced plans to launch in Japan and the US, followed by a TGE.
Recently, major news included the opening of the European market and the launch of Season 3. Season 3 announced that points will be distributed based on trading volume, making it easier to earn points. If Backpack succeeds in enabling trading in these countries as planned, its value will be unimaginably high.
↳ Go to Backpack
