Tech

Aster Delays ASTER Airdrop to October 20 Amid Criticism

4 hours ago
Bitcoin Ethereum News

Following complaints of consistency issues with the ASTER token airdrop, Aster DEX has announced a temporary halt to it. The team said it discovered potential issues that caused some users’ allocations to differ from expected snapshot ratios.

Aster Launches Allocation Review and Opens USDT Refund Window

According to the update, most users’ allocations should not fall below their final snapshot holding percentage in each epoch. Aster stated that it is currently reviewing the discrepancies and will adjust affected allocations before proceeding with the token distribution.

Aster emphasized that the refund option was added to ensure fairness for participants who were affected by the inconsistency. The project had recently seen renewed investor confidence after ASTER price surged following a Binance listing. The exchange confirmed that the refund will occur one day after the airdrop for those who choose that option.

The decentralized exchange said the review process is already in progress, with allocation numbers set to be updated in the coming days. After the data has been revised, users will have up to 48 hours to decide whether they should get a refund in USDT.

Aster Promises Fairness and Transparency as Allocation Review Continues

While the issue prompted a delay, the airdrop remains on schedule to take place by October 20. The team commented that the delay will enable the team make sure they check all data and token allocations for accuracy. According to the Aster team, this step will be done to ensure transparency and community trust.

The DEX has not provided further details on the exact nature of the data inconsistencies but said they stem from allocation calculations tied to the reward epochs. These epochs note user participation statistics which are applied to decide token rewards. Before this internal review, Aster dominated perpetual DEX volumes.

The change in date is in response to complaints by community members who complained about inefficiencies in the supposed and reported allocations. The team indicated that it values the feedback. It added that it welcomes more feedbacks as the ecosystem continues to grow through a such an approach.

Influencer Claims Insiders Owned Airdrop

The postponement follows increasing criticism by prominent users who were granted smaller allocations than anticipated even though they had high engagement. Influencer Quinten 048.eth claims to have generated more than $100 million referral volume and 250 signups. But he disclosed that he only got 338 ASTER tokens.

He accused Aster and Binance of “farming their own airdrop.” Quinten also claimed insiders took 95% of the rewards while retail users shared the remainder. Despite the criticism, Quinten described the low allocations as “super bullish for the price,” arguing that the small distribution means most holders won’t sell.

His post drew a response from Binance founder, CZ, who asked if Quinten’s numbers were accurate. Quinten replied that while the calculation appeared correct, referral-based points dominated the final metrics, leaving little for other participants.

Source: https://coingape.com/aster-delays-aster-airdrop-to-october-20-amid-criticism/