The decentralized derivatives exchange Aster is exploring the possibility of implementing vesting schedules for its upcoming token airdrop, as shared by its CEO during a recent livestream.
On Monday, Aster’s CEO Leonard, who has not revealed his last name, mentioned that this approach could mitigate immediate selling pressure on the ASTER token while synchronizing incentives for both early adopters and new holders.
“We think it’s our prerogative to implement this. We will decide and announce soon,” Leonard stated to viewers. “You can expect a final decision and explanation from us in the next two to three days.”
Vesting is a common strategy in the crypto space that prevents early recipients from offloading large amounts of tokens immediately, which helps reduce the risk of significant price drops.
Cointelegraph reached out to Aster for further information but had not received a reply by press time.
Aster to distribute 320 million tokens for season 2
Aster has previously stated that over 50% of its token supply is allocated for community airdrops. It also declared plans to release 320 million ASTER tokens, valued at around $600 million, for participants in its season two airdrop.
In the livestream, Leonard mentioned that the team is still finalizing the distribution method for the upcoming airdrop.
He indicated that they were considering whether distributing 4% of the total supply might exert selling pressure on the token, stressing that they needed to consider both participants and existing Aster token holders.
Aster has previously announced that the deadline for season two points is Oct. 5 at 11:59 pm UTC.
“We have only a week left, so an announcement will be coming very soon,” Leonard concluded, emphasizing that participants will receive confirmation before the airdrop snapshot occurs.
Related: Vesting NFTs top daily sales volume chart: CryptoSlam
Aster’s perpetual daily DEX volume hits $85 billion
Since its launch, activity on Aster has driven the trading volume in the overall perpetual decentralized exchange (DEX) sector to new heights.
As the cutoff for the season two airdrop approaches, trading volume for the DEX’s perps has surged.
On Monday, DefiLlama reported that Aster’s 24-hour trading volume soared to $85 billion, exceeding its nearest competitor, Lighter, by more than twelve times on that day.
While the peaks in Aster’s trading volume could indicate growing adoption, some community members remain doubtful about the sustainability of such levels after incentives are removed.
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