This video provides an in-depth comparison of two major decentralized derivatives trading platforms, Hyperliquid and Aster, covering their founding backgrounds, technical architectures, token economics, market performance, and potential risks. Hyperliquid, founded by former Wall Street high-frequency trader Jeff Yan, utilizes a self-built Layer 1 blockchain to achieve ultra-high performance with 200,000 orders per second and 0.2-second confirmations. It attracted nearly 700,000 real traders through the largest airdrop in history ($1.2 billion). In contrast, Aster, backed by Binance co-founder CZ's $10 billion family office, adopts a multi-chain aggregation strategy and introduces aggressive features like stock perpetual contracts, hidden orders, and 1001x leverage. Its user base surged by 330,000 within 24 hours of its TGE (Token Generation Event). The video meticulously dissects their differences in consensus mechanisms, liquidity design, token distribution, and user growth, while highlighting Hyperliquid's centralized validator nodes and Aster's cross-chain bridge security vulnerabilities. Through dimensions such as technical indicators, TVL, trading volume, revenue data, and CZ's Twitter influence, the video reveals the competitive landscape of the DeFi derivatives sector to viewers and explores which model is more likely to prevail in the long run — pure technology-driven or traffic and capital-backed.
