Compare Aster and Ethena on TVL, fees, revenue and activity to understand how these projects stack up.
$480.11M
Aster is a decentralized perpetuals exchange offering MEV-free, one-click trading with leverage up to 1001× in Simple Mode, plus advanced, pro-grade tools in Pro Mode. Backed by YZi Labs, Aster combines speed, flexibility, and a community-driven approach to shape the next era of DeFi.
USDe is Ethena’s synthetic dollar backed by delta‑neutral ETH perpetual hedge positions rather than off‑chain treasuries. The collateral basket auto‑rebalances between spot ETH, LSTs and short perps so the net delta remains near zero, turning staking rewards and funding rates into protocol revenue. USDe launched on Ethereum in January 2024 and surpassed $2 billion supply within five months, with deep secondary liquidity on Curve and Bybit.