Aster News Today: DeFi Competition Heats Up: Incentivizing Liquidations to Draw in Traders

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Aster News Today: DeFi Competition Heats Up: Incentivizing Liquidations to Draw in Traders

Bitget-RWA2025/11/19 12:28

By:Bitget-RWA

- Aster, a decentralized crypto exchange, launched "Machi mode" to reward traders with points for liquidations, embracing risk-taking culture. - Competitor Hyperliquid slashed taker fees by 90% via HIP-3 "growth mode," targeting liquidity providers and challenging centralized exchanges. - Both strategies reflect DeFi's arms race to attract traders through gamification (Aster) and technical efficiency (Hyperliquid), blurring financial utility with community identity. - Traders praised Aster's "failure-as-fe

Aster, a decentralized crypto exchange, has introduced "Machi mode," a unique addition that gives traders points when their positions are liquidated—an approach that openly celebrates the high-risk, unpredictable nature of crypto trading. This new feature, which will go live next week,

makes a direct nod to Machi Big Brother

(Jeffrey Huang), a well-known trader famous for his repeated liquidations, making him an unexpected figurehead in the space. The announcement on X stated: "You earn liquidation points for getting rekt," prompting one commenter to joke, "only in crypto do liquidations become a selling point"

as reported

Machi Big Brother's impact is intentional.

Blockchain data shows

from Lookonchain that he has been liquidated 71 times since November 1, far exceeding others like James Wynn (26) and Andrew Tate (19). In crypto communities, such rankings are often worn as a mark of pride, reflecting the culture's embrace of risk. Aster is tapping into this mindset,

turning losses into a game and possibly encouraging

traders to pursue even riskier bets.

This launch comes as competition intensifies in the decentralized finance (DeFi) sector. Hyperliquid, Aster's main competitor,

rolled out its own major update

-HIP-3 "growth mode"-on Wednesday, cutting taker fees for new markets by more than 90%. The change

drops fees from 0.045% to just 0.00144%

, aiming to draw in liquidity providers and rival centralized platforms like Binance. Hyperliquid's CEO highlighted that the feature is permissionless, letting deployers introduce new assets without needing centralized approval, though new markets must avoid duplicating existing perpetuals to prevent "parasitic" trading volume

according to reports

Both Aster's Machi mode and Hyperliquid's fee reductions highlight the ongoing battle to attract traders in the DeFi derivatives arena. While

Aster

treats liquidations as a cultural badge, Hyperliquid bets on technical improvements, believing that extremely low fees will boost activity. These approaches reflect the industry's move toward user-focused innovation, where platforms compete not only on technology but also on building a strong community identity

as analysts note

and

according to reports

Traders have responded with a mix of excitement and skepticism. Many on social media applauded Aster for "making failure a feature," while some questioned whether rewarding losses is sustainable. Meanwhile, Hyperliquid's token (HYPE) has

fallen 6% since the news

, which may be due to broader market trends rather than doubts about the update itself.

As DeFi platforms compete for market share, the distinction between gamification and real financial utility continues to

blur

. The introduction of Machi mode by Aster and growth mode by Hyperliquid illustrates this shift, appealing to traders who thrive on risk and are eager to experiment—even if it means getting "rekt."

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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