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Aster (ASTER) Crypto Asset Statement

Aster (ASTER) Crypto Asset Statement

PLEASE READ THIS CAREFULLY. BY PROCEEDING TO TRANSACT IN ASTER, YOU ACKNOWLEDGE AND ACCEPT THE STATEMENTS SET OUT BELOW.

About this Summary

Ndax Canada Inc. (“Ndax”, “we” and “our”) believes that our users should understand the crypto assets that they are able to trade and stake using our crypto trading platform (the “Platform”). One of the crypto assets we offer on the Platform is ASTER. We created this summary to help you understand the basics of ASTER as well as some of the risks involved in trading in ASTER. While we tried to describe the key features of ASTER, this summary isn’t meant to tell you everything you’d want to know before investing in ASTER. You should also do your own research on ASTER to make sure you are comfortable investing in it.

Description of ASTER

History of ASTER

Aster is a next‑generation decentralized perpetual exchange designed for traders of all levels. It was formed in late 2024 through the merger of two DeFi projects: Astherus, which specialized in yield generation and liquid staking, and APX Finance, which built a robust perpetual trading engine. The merger was supported by YZi Labs and a team with experience in both traditional finance and blockchain; the goal was to build a unified, on‑chain derivatives trading platform. Aster operates across multiple blockchains—including BNB Chain, Ethereum, Solana and Arbitrum—giving traders access to deep liquidity and cross‑chain flexibility. The Token Generation Event (TGE) on September 17 2025 marked Aster’s transition to a community‑owned and governed platform. ASTER is the native utility token of the ecosystem, with a maximum supply of 8 billion tokens.

What is ASTER used for

Aster fuels the Aster ecosystem and provides several utilities:

  • Governance and community participation: ASTER holders can take part in governance processes and help shape the future of the protocol.
  • Reduced trading fees & access to features: Holding or staking ASTER grants traders discounted fees and access to exclusive features on the Aster platform.
  • Value creation and exchange: As a utility token, ASTER acts as the medium for value exchange within the Aster ecosystem and provides community engagement incentives.

 

How ASTER works

Aster combines perpetual and spot trading in one unified platform and targets both professionals and beginners. Key features include:

  • Dual‑mode trading system: Pro Mode offers an order‑book interface with up to 100× leverage and advanced tools; 1001× Simple Mode delivers MEV‑resistant, one‑click perpetual trading with ultra‑high leverage in a streamlined interface. Hidden orders, grid trading, hedge mode and real‑time analytics are available for professional users.
  • Trade & Earn capital efficiency: Users can employ yield‑bearing assets such as asBNB (a liquid staking token) and USDF (a yield‑bearing stablecoin) as margin. This model allows traders to earn staking rewards and stablecoin yields while trading.
  • Multi‑chain support: Aster operates across BNB Chain, Ethereum, Solana and Arbitrum. Liquidity and operations are unified across these networks, so users do not need to manually bridge assets.
  • MEV protection and fair pricing: The 1001× Simple Mode is designed to be resistant to maximal extractable value (MEV) attacks and provides fair pricing with full on‑chain transparency.

Risks

Before entering into an agreement (a “Crypto Contract”) with Ndax to buy or sell any crypto assets through the Platform, it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Like other crypto assets, there are some general risks associated with investing in Aster. Each of these risks are described in more detail in the Risk Statement provided to you at the time that you open your account with us and is also available online on the NDAX website and app. You should review the Risk Statement.

In addition to the general risks set out in the Risk Statement, we also point out other specific risks to Aster below.

  • Leverage risk: Aster’s Simple Mode allows up to 1001× leverage. High leverage magnifies both gains and losses. Traders using leverage may be liquidated quickly and could lose more than their initial margin.

  • Technical and protocol risk: Aster is a relatively new protocol combining multiple blockchains and innovative features. Despite audits and MEV‑resistant design, smart‑contract vulnerabilities, governance errors or cross‑chain bridge failures could adversely affect ASTER’s value.

  • Liquidity and slippage: While Aster aims to provide deep liquidity across multiple chains, fast‑moving markets may still experience slippage or delayed execution. Liquidity providers could suffer losses if traders are highly profitable or if vaults are under‑collateralized.

  • Market volatility: Crypto markets can move rapidly and unpredictably. Price gaps in RWAs or crypto assets may cause stop‑loss or take‑profit orders to execute at prices far from expected.

  • Regulatory risk: Regulations around decentralized derivatives and high‑leverage trading are evolving. Changes in law could affect Aster’s operations or require Ndax to halt trading of ASTER.

While we have tried to describe the key risks associated with Aster here and in our Risk Statement, we emphasize that this Crypto Asset Statement is not exhaustive of all of the risks associated with trading in Aster. You should also do your own research on Aster to make sure you are comfortable investing in such a crypto asset.

Regulatory Information 

Ndax is a registered investment dealer under securities legislation in all provinces and territories of Canada, and is a member of the Canadian Investment Regulatory Organization (CIRO) and of the Canadian Investor Protection Fund (CIPF). Ndax is offering Crypto Contracts in accordance with the terms and conditions outlined in the User Agreement. Any fiat currency held in user's accounts are protected by the CIPF's Investment Dealer Fund in accordance with its Coverage Policy. However, CIPF coverage does not extend to any virtual assets held in user's accounts. These assets are not eligible for deposit insurance or any protection from the Canada Deposit Insurance Corporation (CDIC) or CIPF.

The statutory rights of action for damages and the right of rescission in the securities legislation of each province and territory of Canada would not apply in respect of a misrepresentation in this Crypto Asset Statement.

Prior to offering a Crypto Contract on ASTER, Ndax assesses whether ASTER is a security and/or a derivative under the securities and derivatives laws of Canada. Ndax’s assessment includes a review of the history of ASTER (such as how it was created and its governance structure), its characteristics, its market capitalization and any regulatory concern regarding ASTER. Based on its assessment, Ndax concluded that ASTER is not a security or a derivative. However, there is a risk that this conclusion could change in the future. In that case, Ndax may be required to halt or withdraw ASTER from trading on the Platform and stop any future trading of Crypto Contracts based on ASTER, and users holding ASTER may be required to liquidate their positions, potentially at a significant loss. In this event, users holding positions in ASTER will be notified via the Platform or other electronic means and advised of the options available to them and any applicable period to sell or withdraw their positions in ASTER.

No Canadian securities regulatory authority has expressed an opinion about ASTER, including an opinion that ASTER is not itself a security and/or derivative.

Last Updated: 10/07/2025