bitpro가 원문에서 글자만 모은 내용이에요. 표·그림·수식은 빠지거나 깨질 수 있어요. 전체 42쪽 중 25쪽
business days after the airdrop ends.
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FtKnECfT2f6gS2UeGGklt%2Fimage.png?alt=media&token=0e1304d1-d1d7-4e0c-8074-a7bcf9f215d0" alt=""><figcaption></figcaption></figure>
#### **Do I get Megadrop rewards?**
asBNB minters are eligible for Megadrop rewards, distributed as asBNB. Like Hodler Airdrops, rewards will be converted to asBNB and claimable on the asBNB page within 3–5 business days after the Megadrop ends.
#### **What is the conversion ratio of slisBNB to asBNB, BNB to slisBNB, etc?**
You can view the current conversion ratios on the [asBNB webpage](https://astherus.finance/en/earn/cedefi). Adjust the “From” and “To” assets to see different conversion rates.
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FAHB5egJtdhkhA6sSUt8l%2FConversion.png?alt=media&token=aaac97d7-82ff-4869-b0e2-091028273d64" alt="" width="375"><figcaption></figcaption></figure>
#### **Can I mint or withdraw asBNB at any time?** 
You can withdraw asBNB instantly when no Binance Launchpool is active. If a Launchpool is active, your request will be queued and processed after the pool ends and the asBNB net asset value is updated—typically within 3–5 business days.
Note: You’ll always receive slisBNB when withdrawing, even if you originally minted asBNB with BNB. This also applies if you cancel a queued mint request.
#### **What are the risks involved?**
We’ve conducted comprehensive smart contract audits and implemented strict risk controls to keep your funds secure and the platform reliable.
#### **Are there any fees involved?**
Minting and withdrawing asBNB is completely fee-free, giving you full flexibility to manage your assets without extra costs.
### asBNB Restaking FAQs
#### **What is asBNB restaking?**
After minting asBNB on Aster, you can restake it on supported protocols such as Binomial or Kernel DAO.
#### **How do I claim Binance Launchpool rewards?**
Binance Launchpool rewards are automatically reflected in asBNB’s net asset value.
#### **How do I claim Hodler airdrop rewards and Megadrop rewards when I restake asBNB on other protocols?**
Hodler and Megadrop rewards will be converted to asBNB and claimed by the restaking protocol on your behalf before being distributed to you. Please refer to the respective projects for exact distribution timelines.
#### **Do I earn additional rewards for restaking asBNB?**
You may earn additional rewards from the restaking protocol — for example, restaking asBNB on Binomial or Kernel DAO can earn you their native points.
#### **Can I mint asBNB on Binomial or Kernel DAO?**
No, you can only mint asBNB on Aster.
# Mint asBTC
asBTC is a liquid staking token for Bitcoin. Deposit BTC on Aster Earn to mint asBTC and earn yield through managed trading strategies, while retaining a liquid token you can withdraw at any time.
### **Key Benefits**
* Up to 5% APY, generated from trading strategies and reflected in asBTC's net asset value.
Assets are held with Ceffu, an institutional-grade third-party custodian, with audited smart contracts.
### **How to Mint asBTC**
**Note:** Currently available on BNB Chain only.
1. Go to Aster Earn and click **\[Connect Wallet]**. Sign the message to connect.
2. Select **BTC** from the dropdown menu.
3. Click **\[Approve BTC]**.
4. Enter your desired BTC amount.
5. Click **\[Mint asBTC]** and confirm in your wallet.
Your asBTC will begin earning yield immediately.
### **How to Withdraw asBTC**
1. Go to Aster Earn and select **asBTC** from the dropdown.
2. Enter your withdrawal amount.
3. Click **\[Request Withdraw]** and confirm.
4. Withdrawals are processed within 14 days. Track status in the **\[Claim]** section.
5. Once processed, click **\[Claim]** to receive your BTC.
### **FAQs**
#### **What is asBTC?**
A liquid staking token minted by depositing BTC on Aster Earn. Holding asBTC earns passive yield.
Contract address: `0x184b72289c0992BDf96751354680985a7C4825d6`
#### **How is APY generated?**
Deposited BTC is deployed in stable trading strategies. Returns are distributed back to holders and reflected in asBTC's net asset value — your token value grows over time. Current APY is displayed on the Aster Earn page.
#### **Can I withdraw at any time?** 
Yes, subject to a 14-day processing period.
#### **What is Ceffu?**
An institutional digital asset custody platform. Ceffu holds deposited BTC using advanced security protocols and risk management controls.
#### **Are there fees?**
No fees to mint or withdraw.
#### **What are the risks?**
Smart contracts are fully audited and risk management protocols are in place. See the security documentation for details.
# Mint asUSDF
asUSDF is the yield-bearing token of the USDF stablecoin. Stake USDF to mint asUSDF and earn real yield.
APY is generated from delta-neutral positions that back USDF, which also involves the collection of funding fees. These are automatically updated and reflected in the net asset value of asUSDF. 
To read more about asUSDF, go to:
{% content-ref url="/pages/y5ivVTrHtveUc7TDwe4L" %}
[Overview](/usdf-stablecoin/overview)
{% endcontent-ref %}
asUSDF FAQ:
{% content-ref url="/pages/uZCHrAaU6pIyZUiQBNN9" %}
[FAQs](/usdf-stablecoin/overview/faqs)
{% endcontent-ref %}
asUSDF tutorial:
{% content-ref url="/pages/z9BVyceyS4Giau9sn8t0" %}
[Tutorials](/usdf-stablecoin/overview/tutorials)
{% endcontent-ref %}
# Mint asCAKE
Due to the new CAKE Tokenomics 3.0 Proposal going into effect, the veCAKE and Gauges Voting System have been retired. asCAKE minting has been stopped as of April 23, 2025.
asCAKE redemptions to CAKE are now available on Aster as of April 27, 2025.
# Aster ALP
ALP is the liquidity pool token for Aster. Mint ALP to participate in onchain perp contract market-making and earn from platform trading activity.
### **How ALP Works**
The ALP pool provides liquidity across all trading pairs on Aster perps. ALP holders act as the market-maker counterparty for perp trades on the platform.
ALP's net asset value (NAV) moves with the pool's overall profit and loss. This means ALP price can rise or fall depending on trading activity and market conditions.
### **Yield Sources**
All yield is automatically reflected in ALP's NAV — your token value grows as the pool earns.
| Source | Description |
| ----------------- | ---------------------------------------------------------------------- |
| **Trading P\&L** | ALP's share of market-making profit from Simple Mode trading activity. |
| **Trading Fees** | Protocol fees collected on trades. |
| **Funding Fees** | Fees from perpetual contract funding rate mechanisms. |
| **Liquidations** | Profit captured from liquidation events within the pool. |
| **Platform Fees** | Additional NAV boost from platform-level fee collection. |
### **Supported Networks**
ALP can be minted on BNB Chain and Arbitrum. Supported deposit assets differ between chains — switch networks before minting to see available options.
# How to Mint ALP
1. Go to <https://www.asterdex.com/en/earn/alp>. Check that you are on the correct network (you can only mint ALP on BNB Chain and Arbitrum networks).
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FAouy5Iuzembuh1sgrI99%2F%E6%88%AA%E5%B1%8F2024-12-31%2012.39.50.png?alt=media&token=342ae6b1-4d55-4e9f-96fa-2ab1bcc21b39" alt=""><figcaption></figcaption></figure>
2. After connecting your wallet, click **\[Mint ALP]**. Use any of the supported ALP pool assets to mint ALP. After confirming the transaction, you will receive the ALP tokens in your wallet.
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FtdNqNoLyOEzphTQh0Wnw%2F%E6%88%AA%E5%B1%8F2024-12-31%2012.45.40.png?alt=media&token=e7b552e7-16aa-44b4-8b9b-5ffa5eabd674" alt=""><figcaption></figcaption></figure>
**Note:** ALP cannot be burned within 48 hours of minting.
# How to Burn ALP
1. Go to <https://www.asterdex.com/en/earn/alp>. Check that you are on the correct network (you can only mint and burn ALP on BNB Chain and Arbitrum networks).
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FBtnudeJCWbOJK2yjf9Gz%2F%E6%88%AA%E5%B1%8F2024-12-31%2012.39.50.png?alt=media&token=e390c3ea-f38f-47ac-807a-758d0279a9cb" alt=""><figcaption></figcaption></figure>
2. After connecting your wallet, click **\[Burn ALP]**.
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FKZdVt1fUBUrOgXWNPFf5%2F%E6%88%AA%E5%B1%8F2024-12-31%2012.52.40.png?alt=media&token=1aab4229-1079-4746-b3e1-85a42b486ef2" alt=""><figcaption></figcaption></figure>
**Notes:**
* ALP cannot be burned within 48 hours of minting.
* The maximum amount you can burn at any time is capped based on available pool liquidity:
**Max burnable ALP = (Pool value − Your position value) × 50% ÷ ALP market price**
**Example:** Pool value is 10,000,000 USDT, your position value is 5,000,000 USDT, ALP price is 2 USDT → maximum burnable = 1,250,000 ALP.
* Upon burning, assets received cannot exceed what's available in the pool. If a specific asset (e.g. USDT) has insufficient balance to cover your full redemption, the remainder can be burned for other assets held in the ALP pool.
# ALP Fees
### **Mint and Burn Fees**
To encourage a balanced pool composition, mint and burn fees adjust dynamically based on how far each asset's current weight deviates from its target weight. Depositing an underweight asset lowers your fee; depositing an overweight asset raises it.
#### Fee Parameters (USDT current values)
| Parameter | Description | Current Value |
| ------------------ | ------------------------------------------------- | ------------- |
| **FeeBasisPoints** | Base fee rate | 0.25% |
| **TaxBasisPoints** | Adjustment rate applied based on weight deviation | 0.05% |
### **Mint Fee Calculation**
1. **Current asset value:** `InitialValue = AssetValueInPool + AssetUnrealizedPnL`
2. **Asset value after minting:** `AfterMintValue = InitialValue + MintValue`
3. **Target asset value:** `TargetValue = (TotalPoolValue + TotalUnrealizedPnL) × TargetWeight`
4. **Weight deviation before minting:** `InitialDiff = InitialValue − TargetValue`
5. **Weight deviation after minting:** `AfterDiff = AfterMintValue − TargetValue`
| Condition | Formula |
| ------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------- |
| `AfterDiff < InitialDiff` (minting moves asset closer to target) | `MintFee = Max(FeeBasisPoints − TaxBasisPoints × InitialDiff / TargetValue, 0)` |
| `AfterDiff ≥ InitialDiff` (minting moves asset further from target) | `MintFee = FeeBasisPoints + TaxBasisPoints × Min((InitialDiff + AfterDiff) / 2, TargetValue) / TargetValue` |
### **Burn Fee Calculation**
1. **Current asset value:** `InitialValue = AssetValueInPool + AssetUnrealizedPnL`
2. **Asset value after burning:** `AfterBurnValue = InitialValue − BurnValue`
3. **Target asset value:** `TargetValue = TotalPoolValue × TargetWeight`
4. **Weight deviation before burning:** `InitialDiff = InitialValue − TargetValue`
5. **Weight deviation after burning:** `AfterDiff = AfterBurnValue − TargetValue`
| Condition | Formula |
| ------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------- |
| `AfterDiff < InitialDiff` (burning moves asset closer to target) | `BurnFee = Max(FeeBasisPoints − TaxBasisPoints × InitialDiff / TargetValue, 0)` |
| `AfterDiff ≥ InitialDiff` (burning moves asset further from target) | `BurnFee = FeeBasisPoints + TaxBasisPoints × Min((InitialDiff + AfterDiff) / 2, TargetValue) / TargetValue` |
#### **Example**
Pool value: $10,000,000 | Unrealised PnL: +$10,000 | BTC in pool: $1,000
BTC target weight: 2% | Current weight: 0.01% | FeeBasisPoints: 0.25% | TaxBasisPoints: 0.45%
Since BTC is significantly underweight, minting ALP with 1 BTC incurs a **0% fee**. Burning ALP to receive 1 BTC (removing an already scarce asset) incurs a **0.7% fee** (0.007 BTC).
You can view the current pool composition, asset quantities, values, and target vs. current weights directly on the ALP page. After selecting an asset and quantity, the interface will display the exact fee before you confirm the transaction.
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FVVnuNsPUi14hf3Yk4hsx%2F%E6%88%AA%E5%B1%8F2024-12-31%2013.56.17.png?alt=media&token=f45faaaf-582f-4430-9991-387a6313d16e" alt=""><figcaption></figcaption></figure>
# Ecosystem
Expand your earning potential beyond Aster. The Aster Earn ecosystem provides additional opportunities built on top of asToken strategies, including liquidity pools and restaking options from partner protocols.
👉 [**Visit Ecosystem**](https://www.asterdex.com/en/earn/ecosystem)
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FgX7WnHSUKUUa7M72Fqgh%2Fimage.png?alt=media&token=fb2c429c-a8ef-4ac8-bd29-66b8031bcb2b" alt=""><figcaption></figcaption></figure>
# PancakeSwap
**Page Summary**
[#id-1.-mint-and-hold-astoken-stableswap-lps](#id-1.-mint-and-hold-astoken-stableswap-lps "mention")
[#c05a](#c05a "mention")
## 1. Mint & Hold asToken StableSwap LPs 
Earn Au points for minting & holding [**StableSwap LP**](https://www.asterdex.com/en/earn/ecosystem) **tokens**. 
* **If you mint V3 LP tokens, you do not get Au points.**
* **Minting StableSwap LP is NOT the same as LP staking.**
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2Fu9r8XjE4zgXb2G9I0dTz%2Fimage.png?alt=media&token=8d5dbf52-ddd5-4d5c-8b9d-9d0670c29be9" alt=""><figcaption></figcaption></figure>
* USDF/USDT StableSwap LP: 35x Au
* asUSDF/USDF StableSwap LP: 30x Au
* asUSDF/USDT StableSwap LP: 25x Au 
* asCAKE/CAKE StableSwap LP: 2x Au 
**How is Au calculated?**
Au points are accrued based on the USD value of the StableSwap LP tokens minted. For example, if you add liquidity to the asUSDF/USDT stable LP on PancakeSwap, which has a 25x Au multiplier, and minted 20 USD worth of stable LP tokens, you should get 20 x 25 = 500 Au. You will continue earning 500 Au/hour.
***
## 2. Stake StableSwap LPs <a href="#c05a" id="c05a"></a>
**Please note that LP Staking is NOT the same as minting & holding** [**StableSwap LPs**](https://www.asterdex.com/en/earn/ecosystem)**. LP Staking is only available for the following StableSwap pairs:**
* USDF/USDT StableSwap LP: 35x Au + APR
* asUSDF/USDT StableSwap LP: 25x Au + APR<br>
**How do I stake my StableSwap LP?**
Please connect your wallet to PancakeSwap and go to \[My Positions]. If you already hold StableSwap LPs, click \[Stake LP] and confirm. 
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FUTCxjGjjcyaHzeRWwOO6%2Fimage.png?alt=media&token=f9bda713-081b-4ed5-a8c9-7107deb21989" alt=""><figcaption></figcaption></figure>
**How is Au calculated?**
Au multiplier for staking a StableSwap LP is the same as the multiplier for minting and holding. For example, minting and holding asUSDF/USDT stable LP has a 25x Au multiplier. Staking asUSDF/USDT stable LP thus also has a 25x Au multiplier.
Scenario:
* If you have 20 USD worth of asUSDF/USDT stable LP and staked all of it, you continue earning 20 x 25 = 500 Au/hour.
* If you stake 10 USD worth of asUSDF/USDT stable LP and continue holding 10 USD worth of asUSDF/USDT stable LP, you will earn 10 x 25 = 250 Au/hour from staking and 10 x 25 = 250 Au/hour from holding. 
**What does APR consist of?**
When you stake StableSwap LPs on PancakeSwap, you also earn Combined APR in the form of CAKE tokens. Combined APR consists of Farm APR and LP fee APR. Please read this for more details about Farm APR: <https://docs.pancakeswap.finance/products/yield-farming> 
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FMQOVMQCcaSvGufc8sGRH%2Fimage.png?alt=media&token=f6e0cc3d-75df-42af-af00-b876b2640643" alt=""><figcaption></figcaption></figure>
**How do I collect CAKE token rewards?**
Go to your staked positions and click \[Harvest] to collect CAKE rewards.
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FYeN7pXcf7t2e1mmqJbKO%2Fimage.png?alt=media&token=d6000a0b-2966-4f04-9de4-6713234361bd" alt=""><figcaption></figcaption></figure>
# LP on PancakeSwap
**The Au Points Program will officially sunset and a snapshot of Au Points balances will be taken at 00:00:00 UTC on Friday, June 13, 2025. No further Au Points will be granted after this point.** [**Read more**](https://x.com/Aster_DEX/status/1932367398872760416)**. *****Last updated: June 10, 2025***
***
**Page Summary**
[#id-1.-mint-and-hold-astoken-stableswap-lps](#id-1.-mint-and-hold-astoken-stableswap-lps "mention")
[#c05a](#c05a "mention")
## 1. Mint & Hold asToken StableSwap LPs 
Earn Au points for minting & holding [**StableSwap LP**](https://www.asterdex.com/en/earn/ecosystem) **tokens**. 
* **If you mint V3 LP tokens, you do not get Au points.**
* **Minting StableSwap LP is NOT the same as LP staking.**
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2Fu9r8XjE4zgXb2G9I0dTz%2Fimage.png?alt=media&token=8d5dbf52-ddd5-4d5c-8b9d-9d0670c29be9" alt=""><figcaption></figcaption></figure>
* USDF/USDT StableSwap LP: 35x Au
* asUSDF/USDF StableSwap LP: 30x Au
* asUSDF/USDT StableSwap LP: 25x Au 
* asCAKE/CAKE StableSwap LP: 2x Au 
**How is Au calculated?**
Au points are accrued based on the USD value of the StableSwap LP tokens minted. For example, if you add liquidity to the asUSDF/USDT stable LP on PancakeSwap, which has a 25x Au multiplier, and minted 20 USD worth of stable LP tokens, you should get 20 x 25 = 500 Au. You will continue earning 500 Au/hour.
***
## 2. Stake StableSwap LPs <a href="#c05a" id="c05a"></a>
**Please note that LP Staking is NOT the same as minting & holding** [**StableSwap LPs**](https://www.asterdex.com/en/earn/ecosystem)**. LP Staking is only available for the following StableSwap pairs:**
* USDF/USDT StableSwap LP: 35x Au + APR
* asUSDF/USDT StableSwap LP: 25x Au + APR<br>
**How do I stake my StableSwap LP?**
Please connect your wallet to PancakeSwap and go to \[My Positions]. If you already hold StableSwap LPs, click \[Stake LP] and confirm. 
<figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FUTCxjGjjcyaHzeRWwOO6%2Fimage.png?alt=media&token=f9bda713-081b-4ed5-a8c9-7107deb21989" alt=""><figcaption></figcaption></figure>
**How is Au calculated?**
Au multiplier for staking a StableSwap LP is the same as the multiplier for minting and holding. For example, minting and holding asUSDF/USDT stable LP has a 25x Au multiplier. Staking asUSDF/USDT stable LP thus also has a 25x Au multiplier.
Scenario:
* If you have 20 USD worth of asUSDF/USDT stable LP an프로젝트로 돌아가기
