Decentralized derivatives exchange Aster is considering whether to implement vesting schedules for its upcoming token airdrop, according to comments from its CEO during a recent livestream.
On Monday, Aster CEO Leonard, who has not disclosed a last name, said the move could limit immediate sell pressure on the ASTER token, while aligning incentives between early adopters and new holders.
“I think we reserve the right of doing it. We will kind of decide things and announce it,” Leonard told livestream viewers. “I think in the next two to three days, you can expect us to make a final decision and release that explanation.”
Vesting, a common practice in crypto, prevents early recipients from dumping tokens all at once, reducing the risk of sharp price declines.
Cointelegraph reached out to Aster for more information, but had not received a response by publication.
Aster to release 320 million tokens for season 2
Aster previously said more than 50% of its token supply had been allocated to community airdrops. It also announced that it would release 320 million ASTER tokens, worth about $600 million, for its season two airdrop participants.
In the livestream, Aster’s Leonard said the team was still working on the distribution method for the upcoming airdrop.
He said the team was contemplating whether releasing 4% of the supply would create selling pressure on the token. He added that they had to consider not just the participants but also existing Aster tokenholders.
Aster previously announced that the cutoff for season two’s points is on Oct. 5 at 11:59 pm UTC.
“We only have a week left, so it will be announced very soon,” Leonard added, signaling that participants would get a confirmation before the airdrop snapshot is taken.
Related: Vesting NFTs top daily sales volume chart: CryptoSlam
Aster’s perp daily DEX volume reaches $85 billion
Since its release, activities on Aster have pushed the overall perpetual decentralized exchange (DEX) space’s trading volume to new highs.
As the cutoff for the season two airdrop draws near, the DEX’s perps trading volume has shot up.
On Monday, DefiLlama showed that Aster’s 24-hour trading volume jumped to $85 billion, which is more than 12 times more than its closest competitor on the day, Lighter.
While Aster’s volume highs could signal adoption, some community members are skeptical about whether it can be sustained after the incentives have dried up.
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