Astherus, a liquidity hub for liquid staking tokens (LSTs) and liquid restaking tokens (LRTs), saw its total value locked surge by over 350% in the past three weeks to a record $137.3 million, per DefiLlama.
Astherus has positioned itself as a liquidity hub focused on maximizing yield, with its most sought-after products including its in-house perpetuals exchange, which enables users to lock LSTs, LRTs, and other tokens as collateral to trade popular markets. It has a record $117 million in TVL, accounting for the lion’s share of the platform’s aggregate liquidity value.
Astherus’ perpetuals exchange is available on three chains: BNB Smart Chain (BSC), Ethereum, and Solana. BSC has over $95 million in TVL, followed by Ethereum with $12 million.
Users can deposit multiple supported assets to trade over a dozen pairs, including BTC/USDT, ETH/USDT, BNB/USDT, SOL/USDT, and XRP/USDT, among others.
The most commonly deposited tokens are SlisBNB, an LST representing BNB staked via Lista, and STONE, a yield-bearing liquid staking token backed by Ethereum. BNB-based STONE is provided by StakeStone, an omnichain liquidity protocol offering an adaptive staking network for liquid Ethereum and Bitcoin. Other popular tokens used as collateral include CAKE, JLP, PUMPBTC, LISTA, BTCB, SOLVBTC, WBETH, USDT, and ETH.
Thanks to its rapid growth, Astherus Perps joined the top 10 derivative protocols in DeFi. On a side note, the derivative sector has doubled its TVL in the past two months to a record $7.1 billion, driven by platforms like Hyperliquid, Synthetix v3, Jupiter, and Drift Trade.
Meanwhile, Astherus’ proprietary yield tokens, USDF and asBTC, have also increased their values to record levels.
USDF is a stablecoin minted by depositing USDT on AstherusEarn, while asBTC is minted by depositing BTC. USDF’s TVL is nearly $12 million and asBTC’s TVL is $5.6 million.
Astherus, which recently secured support from Binance Labs, plans to launch a native layer 1 chain supporting multi-asset staking and using BNB as gas fees.
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