In the fast-paced world of decentralized finance (DeFi)—that's the blockchain-based alternative to traditional banking—Aster DEX is making waves. A recent tweet from analyst @jussy_world highlights how Aster has flipped Tether in 24-hour revenue, claiming the top spot among projects. This sparked a thoughtful response from Armani Ferrante, founder of Backpack and Mad Lads, who quoted CZ (Changpeng Zhao, former Binance CEO) emphasizing that Aster should aim to rival Binance, not smaller players like Hyperliquid.

Aster's Impressive Metrics and Buyback Potential

The tweet breaks down key stats: Over the past seven days, Aster raked in $93.5 million in fees, with a single-day high of $29.4 million. Its market cap sits at $3.2 billion. In comparison, Hyperliquid—another popular perpetual futures DEX (perp DEX, for short, which lets traders bet on asset prices without expiration dates)—generated $26.1 million in seven-day fees and $3.1 million daily, but boasts a higher $12.2 billion market cap.

What stands out are the valuation multiples. Aster's market cap to annualized revenue ratio is a low 0.65x, versus Hyperliquid's 11.9x. Fully diluted valuation (FDV, which includes all potential tokens) to revenue shows Aster at 3.18x compared to Hyperliquid's 44x. This suggests Aster is undervalued relative to its earnings power.

The post also estimates buyback yields—a mechanism where projects use revenue to buy back and burn tokens, potentially increasing value for holders. Aster could offer around 1.25% yield over 30 days and 15.2% annually, outpacing Hyperliquid's 0.70% and 8.40%.

CZ's Wisdom: Focus on the Big Picture

Armani Ferrante chimes in with a nod to CZ's quote: "They compete with Binance." It's a reminder that squabbling with fellow DEXs like Hyperliquid misses the mark. Binance dominates with unmatched liquidity (available assets for trading), volume (trading activity), and user base. Why fight over scraps when you can challenge the centralized giant?

This mindset is classic CZ—strategic and forward-thinking. As Armani puts it, "Don't go after your small competitors... Go after the king." Ironically, Binance seems to be its own biggest threat right now, navigating regulatory hurdles and internal shifts.

What This Means for Meme Token Traders

In the Solana ecosystem, where meme tokens thrive thanks to low fees and high speed, platforms like Aster DEX play a crucial role. Perp trading on memes can amplify gains (or losses), and Aster's revenue surge likely stems from booming activity in volatile assets. If the buyback happens, it could boost the $ASTER token—potentially benefiting the broader meme community by injecting more liquidity.

For blockchain enthusiasts, this thread underscores a key lesson: In crypto, ambition scales with vision. Aster isn't just another DEX; it's positioning as a Binance contender. Keep an eye on @Aster_DEX for the buyback announcement—it could be a game-changer.

Check out the full thread here for more insights.