CZ-backed perp DEX Aster’s $ASTER token surged nearly 15x after its token generation event last week, with CZ's endorsement driving bets on a challenge to Hyperliquid's dominance. While there is merit to the argument of CZ’s support and firepower (especially as he is seemingly reinstated at Binance) being a formidable force for Hyperliquid to compete with, the true test for Aster will come once its upcoming airdrop is complete, as many of the traders that have moved over are looking to farm a lucrative, high value token. At the end of the day, it makes sense that competition for perpetuals would greatly increase given the immensity of Hyperliquid’s success over the past year. Yet, I lean in the direction of Hyperliquid clearing this period as the DEX still on top, given the whole Aster ordeal seems quite artificially constructed and that many are viewing it as a “compensation” trade to missing out on Hyperliquid.