ASTER, a decentralized perpetual futures exchange, has launched a large-scale trading competition called "Crystal Weekly Drops" with a total prize pool of $12 million. The event spans six weeks and is divided into phased stages where participants compete for a share of the funds allocated to each stage.
What is ASTER's Futures Trading Competition?
"Crystal Weekly Drops" is a series of phased contests for traders involving active trading of perpetual futures on the ASTER platform. The organizers divided the event into multiple stages to distribute rewards weekly and maintain trading activity throughout the period.
The total prize pool for the event is $12 million, with up to 2 million USDF allocated for the first phase. This structure encourages both trading volume and user engagement on the platform.
How to Participate and Win?
To qualify for each phase, participants must meet several conditions simultaneously: hold more than 444 ASTER tokens in a connected wallet and maintain a minimum position size of $30,000. Additionally, organizers specify exact timeframes for each phase that must be observed.
- The first phase begins on December 22, 2024, at 00:00 UTC and runs until December 28, 2024, at 23:59 UTC.
- The first phase pool is up to 2 million USDF.
- Key requirements: holding more than 444 ASTER tokens in the wallet and maintaining a minimum $30,000 position.
If a participant meets all the phase requirements, the prize money for that phase is evenly distributed among all qualified traders. The payout amount per participant depends on the number of successful participants in that phase.
Why Are Futures Trading Competitions So Popular?
Such competitions boost platform activity and attract traders through large incentive pools. For the exchange, it’s a way to increase liquidity and engagement, while traders get an opportunity to earn additional income beyond regular trading profits.
However, it’s important to remember that trading perpetual contracts carries risks, and a large prize pool does not eliminate the need for risk management and understanding trading conditions.
What to Consider Before Participating?
Before joining the competition, ensure you fully understand the specifics of perpetual futures, including leverage usage and potential costs. Participation requires significant capital due to the minimum position size, making the contest less suitable for beginners without experience.
Also, evaluate the costs of acquiring and holding the required 444 ASTER tokens and related trading expenses. If you want to review token history and previous ASTER campaigns, useful information is available about the Aster RTX campaign and past distributions like the Phase 4 Airdrop.
Why It Matters
For miners with 1–1000 devices, participation in such a competition is not directly related to mining but could be an option for utilizing mined or accumulated funds. If you already have capital and are active in spot/derivatives markets, the competition conditions might prompt you to reconsider the balance between holding tokens and engaging in trading.
However, the requirement to hold over 444 ASTER and maintain a $30,000 minimum position makes the contest primarily aimed at traders with significant capital volumes rather than small miners without additional liquidity.
What Should You Do?
- Check how many ASTER tokens you have in your connected wallet and calculate the cost to acquire up to 444 tokens if you plan to participate.
- Assess whether you are ready to maintain a minimum $30,000 position and what portion of your capital this represents; apply risk management principles.
- If you are not confident in trading strategies for perpetual contracts, avoid participating solely for the prize—practice first or study the conditions.
Follow the rules for each phase and keep all necessary requirements active during the respective time window. Remember that prizes for each phase are shared equally among all who meet the conditions, so the final payout depends on the number of qualified participants.
Conclusion: High Stakes in DeFi
ASTER offers a major incentive for experienced traders with $12 million in the "Crystal Weekly Drops," and the first phase provides up to 2 million USDF. For those who meet the requirements, it’s a chance to earn additional rewards, but participation requires understanding risks and having significant capital.
Approach participation thoughtfully: check your ASTER balances, evaluate your ability to maintain the required position, and act within your own risk management strategy.
