In a recent interview shared via The Block's tweet, Aster DEX founder Leonard sat down with interviewer @imyoungsparks to dive into the evolving world of on-chain derivatives trading. This conversation, held during a BNB Chain side event at Korea Blockchain Week in the picturesque Hanok House, sheds light on Aster's rapid rise and its innovative approach to perpetual decentralized exchanges (perp DEXs). For those in the meme token community, where quick trades and high volatility are the norm, these developments could mean safer, more efficient ways to engage with derivatives on your favorite memes.

The Rise of Perp DEXs and Aster's Place in It

Perp DEXs, short for perpetual decentralized exchanges, let traders speculate on crypto prices without expiration dates on contracts—think endless futures trading, all on the blockchain without a central authority. Leonard highlighted how projects like Hyperliquid have paved the way, proving that DEXs can rival centralized exchanges (CEXs) in speed and functionality. Aster, built on the BNB Chain, combines a simple trading mode (like GMX, where liquidity providers act as counterparties) with a pro mode featuring an off-chain orderbook for advanced users.

What stands out is Leonard's vision for growth. Instead of battling other DEXs for users, he believes the focus should be on pulling traders from CEXs. "We should be getting users from CEXs because DEXs are the future," he said. This mindset is crucial for meme token enthusiasts, as many memes thrive on BNB Chain due to low fees and fast transactions. With Aster's hybrid model, traders could soon leverage positions on volatile assets like new meme coins without leaving the decentralized ecosystem.

Navigating Privacy and Dark Pools in DeFi

One of the hottest topics in the interview was privacy—especially after high-profile incidents like trader James Wynn's $100 million loss from "hunted" positions, where others exploited visible orders to force liquidations. Leonard introduced Aster's "hidden orders," which function like dark pools in traditional finance: orders that provide liquidity without appearing in the public orderbook. This adds a layer of privacy, protecting large trades from predatory tactics.

In simple terms, dark pools allow big players to trade without tipping off the market, reducing slippage and front-running. For meme tokens, where pumps and dumps can happen in seconds, this could be a game-changer. Imagine placing a hefty bet on a trending meme without everyone seeing your move and countering it. Leonard emphasized building privacy-preserving infrastructure on-chain, ensuring self-custody and fair profit distribution while maintaining transparency where it counts, like in value redistribution via Aster's token.

Building Infrastructure for the Future

Aster's own blockchain, Aster Chain Beta, is currently in private access but slated for more public features in Q4, such as a block explorer. Unlike fully permissionless setups, Aster prioritizes controlled decentralization to replicate CEX services safely. Leonard's background as a product manager at a major exchange (hinting at Binance) informs this product-first approach. "We want to make sure that most of the services and products that are available on CEXs would eventually be available on decentralized infrastructure," he explained.

This includes experiments like tokenized equities for speculating on traditional stocks, which could extend to meme-inspired derivatives. As meme tokens often mirror cultural trends, blending them with privacy-focused perps might attract more institutional interest without compromising DeFi's core principles.

Trader vs. Holder: Managing Growth and High Leverage

The discussion touched on the trader-holder dynamic, with Leonard noting Aster's token launch on September 17 aimed at redistributing value back to users. Staking will follow the full blockchain rollout, rewarding long-term holders while empowering active traders. On growth, he predicted 3-5 major DEXs surviving, each specializing—Aster's niche being BNB Chain's ecosystem.

A fun closing note was testing 1000x leverage, showcasing Aster's bold experimentation. For meme traders, high leverage means amplified gains (or losses) on wild rides like those seen with DOGE or SHIB perps. But with enhanced privacy, it reduces risks from position hunting, making extreme trades more viable.

Why This Matters for Meme Token Communities

As meme tokens continue to dominate blockchain narratives, platforms like Aster are bridging the gap between fun, community-driven assets and sophisticated trading tools. By emphasizing privacy alongside transparency, Aster helps protect traders in a space prone to manipulation. If you're diving into meme perps, keep an eye on Aster—it's poised to make on-chain trading more accessible and secure.

Check out the full interview in The Block's video for more details, and stay tuned to Meme Insider for the latest on how DeFi innovations are powering the meme economy.