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od**: getLimitOrders
Parameters:
* **User**: address
* **Pairs**: 0x0000000000000000000000000000000000000000
**Response**:
```
struct Position {
```
### **How to close a position** <a href="#id-5.-how-to-close-a-position" id="id-5.-how-to-close-a-position"></a>
**Contract address**: 0x1b6f2d3844c6ae7d56ceb3c3643b9060ba28feb0
**Method**: closeTrade
**Parameters**: 
```
bytes32 tradeHash
```
### **How to add margin** <a href="#id-6.-how-to-add-margin" id="id-6.-how-to-add-margin"></a>
* Contract address: 0x1b6f2d3844c6ae7d56ceb3c3643b9060ba28feb0
* Method: addMargin
**Parameters**: 
```
bytes32 tradeHash；
unit256 amount； // 1e10
```
### **How to adjust Take Profit and Stop Loss price** <a href="#id-7.-how-to-adjust-take-profit-and-stop-loss-price" id="id-7.-how-to-adjust-take-profit-and-stop-loss-price"></a>
* **Contract address**: 0x1b6f2d3844c6ae7d56ceb3c3643b9060ba28feb0
* **Method**: updateTradeTpAndSl
**Parameters**: 
```
bytes32 tradeHash；
unit256 stopLossPrice； // 1e8
unit256 takeProfitPrice； // 1e8
```
### **How to cancel the Limit order** <a href="#id-8.-how-to-cancel-the-limit-order" id="id-8.-how-to-cancel-the-limit-order"></a>
* **Contract address**: 0x1b6f2d3844c6ae7d56ceb3c3643b9060ba28feb0
* **Method**: cancelLimitOrder
**Parameters**: 
```
bytes32 tradeHash
```
\
**Margin amount decimals**:
* USDT: 1e18 
* USDC: 1e18 
* Price decimal: 1e8 
* Contract qty decimal: 1e10
### **Resources** <a href="#attachment" id="attachment"></a>
* ABI:
{% file src="/files/ZhcmNTM6pxQp29ryXxJW" %}
* The Ethereum Diamond Inspector: <https://louper.dev/diamond/0x1b6F2d3844C6ae7D56ceb3C3643b9060ba28FEb0?network=bsc>
* Index price API: [https://www.apollox.finance/fapi/v1/premiumIndex<br>](<https://www.apollox.finance/fapi/v1/premiumIndex
>)
# Price Oracles
For 1001x
1001x utilizes a robust and decentralized oracle system to provide accurate and real-time price feeds for trading pairs. This system aggregates data from multiple reputable sources to ensure price integrity and protect users from anomalies.
### **Data Sources**
* **Primary source**: Pyth Oracle’s price feed serves as the anchor
* **Verification**: Prices are cross-verified with Chainlink’s price feed
* **Fallback**: For trading pairs not supported by Pyth Oracle, Binance Oracle is used as a backup
If Pyth Oracle’s price deviates by more than 1% from Chainlink’s price, a circuit breaker is triggered, causing the transaction to fail.
All trading pairs on 1001x use the oracle price of the listed assets as the index price.
### **How Prices are Fetched and Verified**
1. On-chain request: When a trader initiates a transaction, a request for the latest price is simultaneously triggered.
2. Off-chain aggregation: Pyth Oracle retrieves the latest price and updates the index-weighted average price feed.
3. On-chain verification: 1001x’s smart contracts compare Pyth’s price with Chainlink’s feed to verify data accuracy.
4. Transaction completion: Once verification is successful, the trader’s transaction is executed.
This decentralized validation process ensures there is no single point of failure and typically completes within two blocks. Additional safeguards are in place to mitigate issues arising from market disruptions or connectivity problems.
### **Protective Measures**
* Single source deviation: If an exchange’s last price deviates more than 5% from the median price of all sources, its weight is set to zero in calculations.
* Multiple sources deviation: If multiple exchanges show deviations greater than 5%, the median price of all sources is used as the index value instead of a weighted average.
* Connectivity issues:
* If an exchange’s data feed is inaccessible but had trades updated in the last 10 seconds, the latest available price data is used for index calculation.
* If no trade data has been updated for 10 seconds, the exchange’s weight is set to zero in the weighted average calculation.
# OTC trading
### How do I initiate an OTC trade?
1. Navigate to the OTC Trade page from the navigation bar.
2. On the Initiate tab, complete the following fields:
3. Role: Select Taker or Maker. Agree on roles with your counterparty in advance — this determines your applicable fee rate.
4. Trading parameters: Fill in the trading pair, direction, position mode, and leverage.
5. Quantity: Must fall within the OTC minimum/maximum limits for the selected symbol.
6. Agreed price: Must not deviate by more than ±8% from the current mark price.
7. Expiry: Each order has a validity period. If your counterparty does not confirm before expiry, the order expires and must be re-submitted.
8. Click Initiate Block Trade. Review the details in the confirmation pop-up, then complete the signature.
9. Once signed, a unique Deal code will be generated. Share this Deal code with your counterparty via off-platform channels.
Note: You may have up to 20 pending OTC orders at one time. Any pending order may be cancelled before it is accepted.
***
### How does my counterparty accept the trade?
1. On the OTC Trade page, your counterparty should open the Accept tab.
2. Paste the Deal code you shared, then click Search.
3. Review all displayed trade details carefully:
4. Initiator side: Role, trading pair, agreed price, quantity, partial address, direction, and remaining time to expiry.
5. Your side: Assigned corresponding role, available position modes and leverage options, estimated margin requirement, and estimated fees.
6. Select their preferred position mode and leverage, then click Confirm.
7. Complete the signature in the confirmation pop-up.
8. The system will verify margin sufficiency for both parties simultaneously. If all checks pass, positions are opened for both sides at the agreed price.
***
### Where can I view my OTC position after the trade is filled?
Go to Futures → Positions. All filled OTC positions appear alongside standard futures positions.
Important: Filled OTC positions are managed and closed exactly like regular futures positions. Pending OTC orders appear only in Order History — they will not appear in the Positions tab until accepted.
***
### What happens if my OTC order expires?
Expired orders remain visible in Order History. Locate the expired order, click Details → Re-submit. All original parameters will be pre-filled automatically — you do not need to enter them again.
***
### What if my counterparty has insufficient margin when accepting?
* The order remains Pending and stays visible to both parties. Your counterparty may deposit additional margin and attempt acceptance again before expiry.
* If you (the initiator) have insufficient margin, the system will automatically cancel the order immediately upon submission.
***
### How are fees calculated?
Fee = Quantity × Agreed Price × Applicable Fee Rate
Fee rates differ between Taker and Maker. Always confirm your respective roles and review the displayed estimated fee before signing — the fee will be shown at the time of order creation.
***
### Will an OTC trade affect the market price?
No. OTC trades are executed entirely off the public order book. They have zero impact on the public market price, order book depth, or spot/futures pricing.
***
<br>
# Overview
### **USDF Stablecoin**
USDF is a fully collateralized, yield-bearing stablecoin issued by Aster. It maintains a 1:1 conversion rate with USDT and is designed to generate passive returns for holders.
#### **How USDF Works**
The underlying USDT backing USDF is deployed into delta-neutral strategies that earn yield while minimizing exposure to crypto price volatility. These strategies support rewards for staked USDF (asUSDF).
#### **Get Started**
[Mint USDF here.](https://www.asterdex.com/en/usdf)
# How USDF Works
USDF is a decentralized, yield-bearing stablecoin that combines innovative mechanisms for stability, risk management, and revenue generation. At its core is a low-risk delta-neutral strategy that powers consistent returns for holders.
### **Capital Flow Process**
Minting USDF and deploying capital is a straightforward, transparent process:
#### **Step 1: Mint USDF**
Mint USDF directly with USDT (Tether) at a 1:1 ratio. For example, 100 USDT mints exactly 100 USDF. Once minted, the USDT capital enters a managed process designed to generate yield.
#### **Step 2: Transfer to Ceffu Wallet**
The USDT is transferred to a Ceffu wallet, a custodial solution that securely holds the funds on behalf of Aster. The Ceffu wallet prepares the funds for deployment in yield-generating strategies and plays a critical role in fund management.
#### **Step 3: Open Positions on Binance**
Funds from the Ceffu wallet are sent to Binance to open carefully managed strategic positions. Binance is chosen for its liquidity, efficiency, and support for sophisticated trading strategies. Funds are deployed for low-risk trading and revenue-generating opportunities designed to provide consistent returns.
#### **Step 4: Weekly Profit Distribution**
Profits generated from trading and strategies accumulate over the course of each week, where the yield is then calculated and distributed to the asUSDF contract. asUSDF is the staked version of USDF, allowing holders to lock their tokens and earn passive income over time.
### **Delta-Neutral Strategy for Revenue Generation**
The core strategy powering USDF returns is delta-neutral positioning. This approach maintains stability and minimizes market volatility exposure while generating consistent rewards.
#### **What Is a Delta-Neutral Strategy?**
A delta-neutral strategy involves holding both long and short positions simultaneously. The goal is to neutralize the effects of price movements regardless of market direction, and the overall position value remains relatively stable.
In USDF's case, funds may be used for perpetual trading on platforms like Binance. By carefully balancing long and short positions, the strategy generates profits through trading fees and cost differentials rather than relying on price appreciation.
#### **Revenue Sources**
The delta-neutral strategy generates revenue from multiple sources:
**Trading Fees**
Exchanges like Binance charge fees for opening and closing positions. By employing a delta-neutral approach, USDF generates consistent fee income while reducing risk exposure.
**Interest Rate Differentials**
When leverage is involved in trading, USDF can benefit from interest rate differences between various crypto assets and trading pairs, generating additional income while maintaining market neutrality.
**Stable Returns**
Unlike directional strategies that depend on market movements in one direction, delta-neutral positioning provides stable returns even during uncertain or bearish market conditions. The system continues generating returns for holders regardless of whether assets are rising or falling.
#### **How It Works in Practice**
Here's how the delta-neutral strategy operates for USDF:
1. Funds deposited into Binance are used to simultaneously buy spot (long) and short perpetual positions on a specific asset like Bitcoin (BTC) or Ether (ETH)
2. Spot purchases profit when asset prices increase
3. Short positions profit when prices decrease
4. Counterbalancing positions offset each other, keeping the net position close to neutral in terms of market exposure
This structure means USDF generates consistent fee income regardless of asset price movements. The strategy is less sensitive to market volatility, and any gains or losses are offset by the balanced positions, keeping USDF's value stable.
### **Summary**
USDF combines collateral security, strategic positioning, and passive income distribution to deliver a stablecoin that maintains its peg while rewarding holders with yield. The delta-neutral approach ensures returns in any market environment, making it a robust foundation for the Aster ecosystem.
<br>
# Maintaining the Peg
USDF maintains its 1:1 peg with the US Dollar through multiple mechanisms: rigid redemption, arbitrage opportunities, and delta-neutral positioning. Together, these ensure price stability and minimize deviation from the intended value.
### **1. Rigid Redemption & Arbitrage Opportunities**
#### **How Redemption Works**
USDF maintains a strict 1:1 redemption mechanism with USDT. You can redeem your USDF at any time for the equivalent value in USDT, ensuring a direct 1:1 correlation.
Example: If you hold 100 USDF, you can redeem it for 100 USDT.
The peg stays stable because the system guarantees there's always an equal amount of underlying assets (such as USDT) available for redemption. This creates confidence in the token's value.
#### **Arbitrage Opportunities**
When the price of USDF deviates slightly from its 1:1 peg on liquidity pools or exchanges, market participants can profit by exploiting the discrepancy. This arbitrage activity naturally stabilizes the peg by bringing prices back into alignment.
Example: USDF Overvalued
Suppose USDF is trading at 1.02 USDT in a liquidity pool like PancakeSwap:
1. Redeem 100 USDF at the fixed 1:1 rate → Get 100 USDT
2. Swap the 100 USDT on PancakeSwap → Get 102 USDT worth of USDF
3. Profit: 2% arbitrage gain
Example: USDF Undervalued
If USDF trades at 0.98 USDT:
1. Purchase USDF at the discounted rate
2. Redeem at the fixed 1:1 rate for USDT
3. Capture the arbitrage profit when prices revert to peg
Arbitrage doesn't just benefit traders–it actively stabilizes price by reducing further deviation from the peg.
### **2. Delta-Neutral Positions**
Beyond redemption, delta-neutral strategies provide additional price stability. By balancing long and short positions in underlying assets, the delta-neutral approach:
**Stabilizes Price**
Manages volatility of underlying assets (like USDT) to keep USDF's value consistently near 1:1 with the US Dollar, even during market fluctuations.
**Generates Consistent Yield**
Allows fee generation through liquidity mechanisms while minimizing exposure to volatile assets.
### **3. Key Takeaways**
#### **1:1 Redemption**
USDF can always be redeemed at a fixed 1:1 rate for USDT, ensuring price stability and providing holders with a capital preservation mechanism.
#### **Arbitrage Opportunities**
Market inefficiencies create natural profit opportunities that simultaneously stabilize the peg by eliminating price discrepancies.
#### **Delta-Neutral Hedging**
Balanced long and short positions protect against volatility and maintain the 1:1 peg even during uncertain markets.
Together, these mechanisms ensure USDF remains stable and trustworthy as a value store within the Aster ecosystem.
<br>
# Fund Custody & Risk Management
Aster partners with [Ceffu](https://www.ceffu.com/) for the custody of USDF and underlying USDT funds, and to prepare funds for yield strategy execution on behalf of asUSDF holders.
### **How Ceffu Ensures Safe Custody**
Ceffu provides institutional-grade crypto asset management solutions with a focus on security and advanced technology. Their custody services include:
* Cold storage for offline asset protection
* Off-exchange settlement to reduce counterparty exposure
* Multi-party computation (MPC) and multi-signature wallets for distributed key management
* Private key encryption secured in hardware devices or cryptographic vaults
* Custom governance controls and institutional-grade security measures
Ceffu's solutions meet rigorous institutional standards and compliance requirements, making them a trusted custodian for digital assets.
### **MirrorX: Capital Deployment with Security**
Ceffu's MirrorX solution is key to generating staked USDF (asUSDF) yields. MirrorX allows Aster to deploy capital on Binance instantly while keeping assets in Ceffu's independent custody.
**How it works:**
* Maintains a 1:1 balance delegation from Ceffu to a Binance sub-account
* Assets always remain in Ceffu's custody (not on Binance)
* Trades settle off-exchange, minimizing counterparty risk
* Withdrawals settle on T+1 basis
This structure combines deep exchange liquidity with institutional-grade security. The Aster-Ceffu account executes the delta-neutral strategy by buying spot assets on Binance while shorting corresponding perpetual contracts to maintain balanced positions.
### Audit
Before deploying any asset, Aster conducts rigorous evaluation to assess market fit and potential risks. All smart contracts are audited by reputable security firms, and Aster maintains a robust risk monitoring system.
**USDF Audit report**
{% content-ref url="/pages/V4W5TDr20U0DjQWKIht8" %}
[Audit Reports](/overview/audit-reports)
{% endcontent-ref %}
{% file src="/files/ZqCFATpmqW0k2KTmdfJ9" %}
### **Risk Factors**
Understanding potential risks helps you make informed decisions. USDF faces both general stablecoin risks and those specific to yield-bearing assets.
#### **Smart Contract Risk**
**What it is:** The potential for malicious actors to exploit loopholes in smart contracts.
**Mitigation:** Aster engages reputable security firms for audits and maintains robust risk monitoring. Aster works with security and blockchain partners to stay current with the latest DeFi security developments and liaises regularly with risk monitoring teams.
#### **Underlying Asset Risk**
**What it is:** USDT, which backs USDF, carries its own risks–most notably the possibility of depeg and reserve backing concerns.
**Mitigation:** You can review current USDT balances, reports, and reserves at [Tether's transparency dashboard](https://tether.to/en/transparency/?tab=usdt).
#### **Custodial Partner Risk**
**What it is:** Potential failure of operations at Ceffu, such as accessibility issues, inability to process transactions, or failure to settle positions regularly. There's also risk if Ceffu fails compliance, security, or data privacy standards.
**Mitigation:** Ceffu holds [ISO 27001 and 27701 certifications](https://www.ceffu.com/blog/ceffus-solution-receives-iso-27001-and-iso-27701-certification) and is [SOC 2 Type 1 & 2 compliant](https://www.ceffu.com/blog/upholding-trust-and-safety-ceffu-renews-soc-2-attestation), meaning auditors have independently verified their cybersecurity and privacy controls. [Ceffu is also part of the Global Travel Rule (GTR) Alliance](https://www.ceffu.com/blog/ceffu_joins_global-travel_rule_alliance_digital_asset_compliance) to comply with FATF Recommendation 16. Aster actively monitors for custodial partner risks and is prepared to react quickly if issues arise.
#### **Exchange Partner Risk**
**What it is:** If Binance becomes insolvent, delta-neutral positions would become ineffective, impacting yield generation.
**Mitigation:** Aster proactively monitors exchange partner status and is prepared to respond quickly to any issues.
#### **Funding Risk**
**What it is:** Perpetual shorts in the delta-neutral strategy earn funding fees. Consistently negative funding rates require the Aster account to pay more fees, reducing asUSDF APY.
**How it works:** Funding rates fluctuate, especially during market volatility. While negative rates directly reduce APY, perpetual markets are designed to balance long and short open interest. Negative funding rates typically return to a positive mean over time.
#### **Liquidation Risk**
**What it is:** When perpetual positions exist, sudden large price movements could trigger automatic liquidations if collateral falls below margin requirements.
**Mitigation:** The Aster account on Ceffu regularly monitors positions and frequently settles profit/loss to keep liquidation risk minimal.
### **Prospects & Future Growth**
During market downturns, USDF offers a reliable option for steady returns. Staking USDF for asUSDF unlocks an additional yield opportunity from the previously described delta-neutral strategies.
Aster sees significant market potential for expanding yield sources. Future opportuniti프로젝트로 돌아가기
