Aster Launches AOS-2 for Perpetual Futures Listings

Aster has launched Aster Open Standards Phase 2 (AOS-2), expanding its open listing framework from spot assets to perpetual futures markets. The new system allows eligible crypto projects to apply for perpetual listings through an on-chain process involving ASTER staking, validator voting, risk assessment, and market maker support.

Under AOS-2, projects seeking approval must stake 1 million ASTER tokens for four years. The tokens cannot be withdrawn early during the lockup period. Once the stake is committed, validators on Aster Chain vote on whether the proposed perpetual contract can advance to the next stage.

If validators approve an application, Aster’s risk team determines key trading parameters, including leverage and other risk controls. Projects must also secure market maker support before the perpetual market goes live. Aster targets a T+1 listing timeline once approval and market configuration are completed. If a proposal is rejected, the applicant receives its full ASTER stake back.

The framework builds on AOS-1, which introduced Aster’s open listing model for spot markets. AOS-1 primarily covered tokens trading on Binance Spot or available through Binance Alpha, while AOS-2 extends the model to perpetual futures.

Aster’s move comes as decentralized perpetual exchanges gain a larger share of the derivatives market. CoinGecko data cited in the original report showed perpetual DEXs increasing their share of open interest from 3.5% in early 2025 to 13.6% in early 2026. Open interest across major perpetual DEXs also climbed from $1.19 billion at the beginning of 2024 to $14.99 billion by January 2026.

With AOS-2, Aster is positioning its perpetual futures platform for greater project participation while using staking and validator governance to add economic and community-based checks to new market listings.