Summary
Ketju does not approve Aster asBNB: Aster’s Terms bar US persons, as they do for every Aster product Ketju has reviewed, and its yield sits two steps away from BNB staking. A deposit becomes slisBNB through Lista DAO, then clisBNB, which goes into Binance’s Launchpool, Hodler Airdrop and Megadrop promotions. Their rewards flow back into asBNB’s net asset value. asBNB earns no validator staking rewards. Its yield depends on Lista DAO and on Binance continuing to run promotional token programs at a generous scale. The same US exclusion kept Ketju from approving Aster USDF and Aster Bridge, and the same gap on who holds admin powers applies. Tracked deposits have fallen about 79% from their October 2025 peak, the steepest drop of any Aster product Ketju has reviewed.
Review triggers
- Aster opens an offering that US clients of US advisors may use
- Aster publishes a named, incorporated legal entity
- Aster publishes who holds admin, multisig or pause powers over the asBNB mint contract
- Aster moves asBNB to a more lasting source of yield, or discloses to depositors, as a standing risk, that the yield depends on Binance continuing its Launchpool and Hodler Airdrop promotions
Facts
- Verdict
- Not approved
- Type
- Other
- Chains examined
- BSC
- Instruments
- ASBNB
- Reviewed
- Last confirmed