{"id":"aster-usdf","title":"Aster USDF","content":"**Aster USDF (USDF)** is a yield-bearing [stablecoin](https://iq.wiki/wiki/stablecoin) issued by [Aster](https://iq.wiki/wiki/aster), a decentralized perpetual exchange. It is designed to be fully collateralized and convertible with [USDT](https://iq.wiki/wiki/tether) at a 1:1 ratio, aiming to provide passive returns to holders. [\\[1\\]](#cite-id-Lr26UOXqYW) [\\[2\\]](#cite-id-KnJIK9R9V5)\n\n## Overview\n\nAster USDF (USDF) is a component of the broader [Aster](https://iq.wiki/wiki/aster) ecosystem, which emerged from the merger of Astherus and APX Finance in late 2024. The rebrand to Aster signifies a strategic focus on becoming a decentralized perpetuals exchange (perp [DEX](https://iq.wiki/wiki/decentralized-exchange)). The platform aims to simplify and enhance the [decentralized finance](https://iq.wiki/wiki/defi) (DeFi) experience by combining yield generation with perpetual trading infrastructure. USDF serves as a native [stablecoin](https://iq.wiki/wiki/stablecoin) within this ecosystem, designed to attract and utilize liquidity. [\\[3\\]](#cite-id-ca1pdzFRCQ) [\\[4\\]](#cite-id-8Jkcun1Hnc)\n\nThe [Aster](https://iq.wiki/wiki/aster) platform integrates various features, including AstherusEarn for yield generation, AstherusEX for perpetual trading, and the USDF [stablecoin](https://iq.wiki/wiki/stablecoin). These elements are intended to work together to provide utility for digital assets and facilitate sustainable returns for [DeFi](https://iq.wiki/wiki/defi) users. USDF's design incorporates mechanisms aimed at maintaining its peg to the US dollar and generating yield through underlying strategies. [\\[2\\]](#cite-id-KnJIK9R9V5) [\\[1\\]](#cite-id-Lr26UOXqYW)\n\n## USDF Stablecoin\n\nUSDF is a [stablecoin](https://iq.wiki/wiki/stablecoin) issued by [Aster](https://iq.wiki/wiki/aster), designed to be fully collateralized and convertible 1:1 with USDT. Its primary function is to serve as a yield-bearing asset within the [Aster](https://iq.wiki/wiki/aster) ecosystem. The underlying USDT collateral is utilized in delta-neutral strategies to generate yield, which supports rewards for staked USDF (asUSDF). [\\[1\\]](#cite-id-Lr26UOXqYW)\n\nThe [stablecoin](https://iq.wiki/wiki/stablecoin) is intended to attract and leverage [USDT](https://iq.wiki/wiki/tether) liquidity. Minting USDF on the [Aster](https://iq.wiki/wiki/aster) platform is designed to provide users with a multiplier on Au points, which are associated with future [airdrop](https://iq.wiki/wiki/airdrop) rewards. USDF can also be staked to earn additional yield opportunities. [\\[1\\]](#cite-id-Lr26UOXqYW) [\\[2\\]](#cite-id-KnJIK9R9V5)\n\n### How USDF Works\n\nUSDF maintains its peg through its convertibility with USDT at a 1:1 ratio. The [collateral](https://iq.wiki/wiki/collateral) backing USDF consists of [crypto](https://iq.wiki/wiki/cryptocurrency) assets and corresponding short futures positions, forming delta-neutral strategies. These strategies aim to generate yield while minimizing exposure to the price volatility of the underlying crypto assets. The yield generated from these strategies contributes to the rewards offered to users who stake USDF. [\\[6\\]](#cite-id-DoWsqVf5q0) [\\[7\\]](#cite-id-mv2oSNIcgp)\n\nUsers can mint USDF by depositing accepted [collateral](https://iq.wiki/wiki/collateral) assets. The minted USDF can then be used within the [Aster](https://iq.wiki/wiki/aster) ecosystem for trading, [staking](https://iq.wiki/wiki/staking), or participating in yield-generating activities. The process of [minting](https://iq.wiki/wiki/minting) and holding USDF is incentivized through mechanisms like [airdrop](https://iq.wiki/wiki/airdrop) point multipliers. [\\[1\\]](#cite-id-Lr26UOXqYW)\n\n## Use Cases\n\nUSDF is primarily designed for use within the [Aster](https://iq.wiki/wiki/aster) ecosystem and the broader [DeFi](https://iq.wiki/wiki/defi) landscape. Key use cases include:\n\n* **Yield Generation:** Users can mint USDF and [stake](https://iq.wiki/wiki/staking) it (asUSDF) to earn passive returns derived from the platform's delta-neutral strategies. [\\[1\\]](#cite-id-Lr26UOXqYW)\n* **Airdrop Participation:** [Minting](https://iq.wiki/wiki/minting) and holding USDF provides users with a multiplier on Au points, contributing to eligibility for future AST token airdrops. [\\[1\\]](#cite-id-Lr26UOXqYW) [\\[10\\]](#cite-id-iQgL8tVOQw)\n* **Trading:** USDF can be traded on [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange), primarily on the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain). [\\[2\\]](#cite-id-KnJIK9R9V5)\n* **Liquidity Provision:** USDF can be used in liquidity pools on compatible DEXs like [PancakeSwap](https://iq.wiki/wiki/pancakeswap) and [Uniswap V3](https://iq.wiki/wiki/uniswap) on BSC. [\\[2\\]](#cite-id-KnJIK9R9V5)\n\n## Tokenomics\n\nThe USDF token has a circulating supply and total supply of approximately 116.79 million tokens as of June 2025. The fully diluted valuation (FDV) is approximately $116.67 million, which is equal to the [market capitalization](https://iq.wiki/wiki/market-capitalization), indicating that the [circulating supply](https://iq.wiki/wiki/circulating-supply) is close to the total supply. The maximum supply is listed as infinite. [\\[2\\]](#cite-id-KnJIK9R9V5)\n\nThe [Aster](https://iq.wiki/wiki/aster) platform plans to introduce a new native token with the ticker AST, which will replace the previous APX token following the merger and rebrand. The AST token listing is planned for the future, and it is expected to play a central role in the ecosystem. [\\[3\\]](#cite-id-ca1pdzFRCQ)\n\n## Partnerships\n\n[Aster](https://iq.wiki/wiki/aster) has established partnerships within the DeFi ecosystem to enhance its liquidity and yield offerings. Notable partners mentioned include:\n\n* YZi Labs (formerly [Binance](https://iq.wiki/wiki/binance) Labs) [\\[3\\]](#cite-id-ca1pdzFRCQ) [\\[12\\]](#cite-id-oZQW1N6Lp5)\n* Pendle [\\[5\\]](#cite-id-3hc65yLJva) [\\[13\\]](#cite-id-2Ga6WaCCM9)\n* [ListaDAO](https://iq.wiki/wiki/listadao) [\\[5\\]](#cite-id-3hc65yLJva)\n* Kernel [\\[5\\]](#cite-id-3hc65yLJva)\n* Venus [\\[5\\]](#cite-id-3hc65yLJva)\n* [YieldNest](https://iq.wiki/wiki/yieldnest) [\\[5\\]](#cite-id-3hc65yLJva)\n* [PancakeSwap](https://iq.wiki/wiki/pancakeswap) [\\[5\\]](#cite-id-3hc65yLJva) [\\[14\\]](#cite-id-NTHJ4YvrPf)\n\nThese partnerships contribute to liquidity aggregation, yield strategies, and ecosystem integration for [Aster](https://iq.wiki/wiki/aster) and its associated assets like USDF.","summary":"Aster USDF (USDF) is a fully collateralized, yield-bearing stablecoin issued by the decentralized perpetual exchange Aster. 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