In the fast-paced world of meme tokens and DeFi, sometimes a single tweet can capture the essence of what's driving the market. Recently, a post from X user @zuqaquz (view the thread) sparked discussions about Aster, a multi-chain decentralized exchange (DEX) that's making waves with its perpetual and spot trading features. But what's really turning heads is how Aster's token ($ASTER) has entered what the poster calls a "positive feedback loop," where the price itself becomes the star of the show.

Let's break it down simply. A positive feedback loop in crypto terms is like a snowball rolling downhill—it starts small but gains momentum as it goes. According to the thread, it works like this: A higher token price means bigger airdrop values for users. Airdrops are essentially free token distributions to encourage participation, often based on activity or holdings. With more valuable airdrops, the platform sees increased revenue from fees. These fees come from trading activities, and even if a lot of that volume is "wash trading"—that's when traders buy and sell the same asset back and forth to artificially inflate numbers—it still generates real fees because each trade incurs a cost.

The thread quotes another user, @Ricecooker38, who nails it: "the product is the token price." In other words, for many meme tokens and even some DeFi projects like Aster, the real value isn't in groundbreaking tech or everyday utility—it's in the hype and speculation that pumps the price. Aster started amid the meme coin craze but has evolved into a talking point for traders, with its token surging dramatically. Recent reports show $ASTER flipping rivals like Hyperliquid in revenue (Decrypt article), hitting new highs as fees pile up.

This isn't unique to Aster, but it highlights a broader trend in the meme token space. Projects often rely on viral marketing, community engagement, and clever tokenomics— the economic design of the token—to keep the momentum going. Wash trading might sound shady, but as long as it's generating fees that flow back into the ecosystem, it can sustain the loop. Of course, this comes with risks: If the hype dies down, the snowball can melt fast, leading to price crashes.

For blockchain practitioners dipping into meme tokens, threads like this are gold. They remind us to look beyond flashy metrics and question what's real versus engineered. Aster's ecosystem even has community memes like ASTARI popping up (Binance Square post), showing how these projects blend DeFi tools with meme culture to attract users.

If you're tracking meme tokens, keep an eye on $ASTER—its story is a perfect case study in how price dynamics can become the core "product" in crypto. What's your take on this loop? Is it sustainable, or just another pump waiting to dump? Dive into the full thread and join the conversation on X.