The decentralized derivatives exchange Aster is exploring the possibility of introducing vesting schedules for its forthcoming token airdrop, as mentioned by its CEO during a recent livestream.
On Monday, Aster CEO Leonard, whose last name remains undisclosed, stated that such a measure could mitigate immediate selling pressure on the ASTER token, while also aligning the interests of early adopters and new holders.
“We reserve the right to make that decision. We will determine the details and make an announcement,” Leonard informed livestream viewers. “You can expect a final decision and explanation within the next two to three days.”
Vesting is a widely used practice in the crypto industry that prevents early recipients from liquidating their tokens all at once, thereby reducing the chances of significant price drops.
Cointelegraph has reached out to Aster for more details but had not received a response by the time of publication.
Aster to release 320 million tokens for season 2
Aster has previously indicated that over 50% of its token supply is earmarked for community airdrops. The exchange also declared plans to distribute 320 million ASTER tokens, valued at roughly $600 million, for participants in its second season airdrop.
During the livestream, Leonard mentioned that the team is still finalizing the distribution strategy for the upcoming airdrop.
He explained that the team is weighing whether releasing 4% of the total supply could lead to selling pressure on the token. Additionally, they need to consider both the participants and current Aster token holders.
Aster previously announced that the deadline for season two’s points is set for Oct. 5 at 11:59 pm UTC.
“There’s only a week left, so an announcement will come soon,” Leonard added, indicating that participants would receive confirmation before the airdrop snapshot occurs.
Related: Vesting NFTs lead daily sales volume chart: CryptoSlam
Aster’s perp daily DEX volume hits $85 billion
Since its launch, activity on Aster has propelled the total volume of perpetual decentralized exchanges (DEX) to unprecedented levels.
As the deadline for the second season airdrop approaches, trading volumes in the DEX have surged.
On Monday, DefiLlama reported that Aster’s 24-hour trading volume soared to $85 billion, over 12 times that of its nearest competitor, Lighter.
While Aster’s soaring volumes may indicate growing adoption, some community members express doubts about its sustainability once incentives wane.
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