Changpeng Zhao Advises Aster, Highlights Its Impact on BNB Chain

Binance founder Changpeng "CZ" Zhao clarified his role with the decentralized exchange, Aster. He serves only as an advisor on product and technology, not regulatory matters. Despite some former Binance employees working on Aster and a minority stake held by YZi Labs, a venture capital firm he is associated with, CZ emphasized Aster's independence.

Aster competes with Binance but indirectly benefits the BNB ecosystem.
Launched in March on the BNB Chain, Aster offers perpetual and spot trading.
ASTER, its native cryptocurrency, supports governance, fee discounts, staking rewards, and buybacks.
ASTER peaked at $2.41, easing to $1.7 currently.
An airdrop distributing 8.8% of the token supply has increased trading interest.
The perpetual DEX market saw record volumes, reaching $70 billion on September 25, with Aster contributing nearly $42.8 billion.

Aster's rapid growth highlights its significant impact in decentralized finance, overtaking competitors like Hyperliquid.