The decentralized derivatives exchange Aster is deliberating on whether to introduce vesting schedules for its upcoming token airdrop, as mentioned by its CEO during a recent livestream.
On Monday, Aster CEO Leonard, who has chosen not to reveal his last name, stated that such a move could mitigate immediate sell pressure on the ASTER token, while also aligning incentives between early adopters and new token holders.
“We reserve the right to make this decision. We will evaluate things and announce accordingly,” Leonard informed livestream viewers. “In the next two to three days, you can expect us to finalize our decision and share that explanation.”
Vesting is a prevalent practice in crypto that helps prevent early recipients from unloading tokens en masse, thereby reducing the risk of steep price drops.
Cointelegraph reached out to Aster for additional information but had not received a response by the time of publication.
Aster to release 320 million tokens for season 2
Aster previously announced that over 50% of its token supply has been set aside for community airdrops. Additionally, it revealed plans to distribute 320 million ASTER tokens, valued at approximately $600 million, to participants in its second season airdrop.
During the livestream, Leonard mentioned that the team is still refining the distribution method for the forthcoming airdrop.
He noted that the team is assessing whether releasing 4% of the total supply could lead to selling pressure on the token. He emphasized the importance of considering not only the participants but also existing Aster token holders.
Aster had previously announced that the deadline for season two’s eligibility points will be on Oct. 5 at 11:59 pm UTC.
“With only a week remaining, we will announce it shortly,” Leonard added, indicating that participants will receive confirmation before the airdrop snapshot is taken.
Related: Vesting NFTs lead daily sales volume chart: CryptoSlam
Aster’s perp daily DEX volume reaches $85 billion
Since its launch, activities on Aster have driven the overall trading volume in the perpetual decentralized exchange (DEX) sector to unprecedented levels.
As the cutoff date for the season two airdrop approaches, the DEX’s perpetual trading volume has surged.
On Monday, DefiLlama reported that Aster’s 24-hour trading volume soared to $85 billion, exceeding 12 times that of its nearest competitor, Lighter, on that day.
While the surge in Aster’s volume may indicate growing adoption, some community members express doubts about its sustainability once the incentives are no longer available.
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