The memo
REJECTED ON A CATEGORICAL US EXCLUSION, THE SAME PATTERN THIS REGISTRY ALREADY REJECTED FOR SOLSTICE. USDF is a delta-neutral basis-trading stablecoin structurally identical to Ethena USDe and Solstice — deposited USDT is deployed into long-spot, short-perpetual positions on Binance through Ceffu custody, earning funding-rate income that stakers capture through asUSDF. Aster's own Terms and Conditions, governed by Hong Kong law with HKIAC arbitration, explicitly prohibit use by United States residents and entities alongside a standard sanctioned-jurisdiction list, drafted in language nearly identical to Solstice's own exclusion, already rejected in this registry. No incorporated legal entity name was found anywhere in Aster's documentation, consistent with the same disclosure gap this registry already documented in its existing Aster Bridge entry. That entry also found DefiLlama delisted Aster's self-reported perpetual-trading volume after it proved unverifiable and closely mirrored Binance's own figures — directly relevant here since USDF's yield depends on that same trading venue.
What would reopen the file
- A US-eligible offering opens to this registry's target client population
- A named incorporated legal entity is disclosed for Aster
- Admin, multisig, or pause authority over the USDF and asUSDF contracts is publicly disclosed
- DefiLlama or an independent source confirms Aster's underlying perpetual-trading volume as verifiable, resolving the wash-trading concern this registry already documented for Aster Bridge
Facts on file
- Verdict
- Rejected
- Exposure
- other
- Chains examined
- BSC
- Instruments
- USDF
- Memo version
- v1
- Reviewed
- Next review