Aster offsets turbulent price movements on XPL

The emerging decentralized exchange Aster has compensated users who suffered losses due to 'unusual price movements' with the recently launched XPL token. The exchange, based on the BNB Chain, has experienced rapid growth in recent weeks but has now faced its first major setback. After several rounds of compensation, affected users have now been fully reimbursed in the USDT stablecoin. Those affected who have not yet received a refund are encouraged to contact the exchange via Discord. The native staking token XPL for the Plasma blockchain reached a high of $1.54 in the last 24 hours and fell to a low of $0.74. However, a very different picture was visible on Aster's perpetual futures contracts, with prices allegedly rising to as much as $4 and falling to $0.55. According to on-chain analytics firm Bubblemaps, the oracle price of XPL, also known as the index price, was 'hardcoded' at $1, similar to a stablecoin, while the market price was capped at $1.22. When this cap was removed, the token price exploded to $4. Perpetual futures trading differs significantly from regular spot trading, as users do not directly own the underlying asset. This explains why the XPL price anomaly initially occurred. Fortunately, the affected users have now been fully compensated. XPL is currently trading at $1.17, according to CoinGecko valuations. Meanwhile, Aster's own token has fallen by 12% to $1.80, and the platform's trust is being tested by the incident. On the prediction market Myriad, the probability that Aster will reach $4 before November has decreased to 27%.