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nager can open the whitelist function and only the whitelist users can invest in the vault
#### Trading Restrictions
Vault accounts may only trade perpetual futures products.
The following activities are not supported:
* Spot trading
* Shield products
* Staking products
#### Deposit, Withdrawal & Transfer Restrictions
* Direct blockchain deposits are not supported.
* Direct blockchain withdrawals are not supported.
* Assets cannot be transferred to other FUIDs.
* Transfers between Vault Spot and Vault Futures accounts are not supported.
* Investor deposits are automatically transferred into the Vault Futures account.
* Once the vault position liquidated and left balance ≤0, the deposit of vault will be disabled.
#### Account Structure Restrictions
Vault accounts cannot:
* Create sub-accounts
* Create additional Vaults
* Participate in referral programs
* Bind referral codes
* Invite other users
#### VIP & Account Tier
Vault accounts do not inherit the Vault Manager's VIP level.
Trading fees and VIP status are calculated independently for each Vault account.
Vault accounts are not eligible for Market Maker (MM) account tiers.
#### Rewards & Campaign Restrictions
Vault accounts do not participate in:
* Points programs
* Points airdrops
* Spot trading competitions
* Spot reward campaigns
* Promotions that distribute rewards directly to spot accounts
#### API Access
Vault accounts can create API keys and support API-based trading.<br>
***
### Distribute Fund
Vault Managers may distribute available profits directly to investors without requiring investors to redeem their Vault shares.
When a distribution occurs:
* Funds are distributed proportionally based on ownership shares.
* Investors remain invested in the Vault.
* Applicable profit share fees are paid to the Vault Manager.
* Distributions may only be performed once every 24 hours.
This mechanism allows investors to realize profits while maintaining exposure to the Vault's trading strategy.\
Distribute fund= Max withdraw \* Buffer, current buffer is 50%
***
### Vault Performance Metrics
Each Vault provides performance information including:
<table data-header-hidden data-search="false"><thead><tr><th></th><th></th></tr></thead><tbody><tr><td>Metric</td><td>Description</td></tr><tr><td>TVL</td><td>Total Value Locked</td></tr><tr><td>APR</td><td>Historical annualized return</td></tr><tr><td>Total PnL</td><td>Lifetime profit and loss</td></tr><tr><td>Max Drawdown</td><td>Largest historical decline</td></tr><tr><td>Trading Volume</td><td>Historical trading activity</td></tr><tr><td>Win Rate</td><td>Percentage of profitable positions</td></tr><tr><td>Investor Count</td><td>Number of participating investors</td></tr></tbody></table>
Performance data is provided for informational purposes only and does not guarantee future results.
***
### Closing a Vault
A Vault Manager may permanently close a Vault.
Before closing:
* All positions must be closed.
* All open orders must be cancelled.
After closure:
* Remaining funds are distributed according to ownership shares.
* Profit share fees are calculated if applicable.
* The manager's 100 ASTER creation stake is either returned or burned based on Vault performance.
***
### Risks reminder
Investing in a Vault involves substantial risk.
Investors should understand that:
* Past performance does not guarantee future results.
* Vault Managers may incur trading losses.
* Leveraged futures trading carries liquidation risk.
* Redemptions may be affected by market conditions.
* Position closures may generate slippage.
* Vault values may fluctuate significantly over time.
Investors should carefully evaluate a Vault's strategy, historical performance, risk profile, manager track record, and lock-up terms before investing.
***
### Frequently Asked Questions
#### 1. Who controls trading decisions inside a Vault?
All trading decisions are made by the Vault Manager.
#### 2. Can I withdraw my funds at any time?
No. Funds can only be redeemed after the Vault's lock-up period.
#### 3. How are profits distributed?
Profits and losses are allocated proportionally based on each investor's Vault ownership share.
#### 4. Can the Vault Manager stop new deposits?
Yes. Managers can enable or disable deposits at any time.
#### 5. Can a Vault trade spot markets?
No. Vault accounts are restricted to perpetual futures trading.
#### 6. Does investing in a Vault guarantee profits?
No. All investments are subject to market risk and losses are possible.
#### 7. Can I see a Vault's performance before investing?
Yes. Each Vault displays performance metrics, historical returns, TVL, and other relevant information.
#### 8. Can I redeem only part of my investment?
Yes. Partial redemptions are supported, subject to lock-up restrictions and available redemption limits.
#### 9. What is Fund Distribution?
Fund Distribution allows the Vault Manager to distribute available profits to investors without requiring them to redeem their Vault shares.
#### 10. Why must the manager maintain at least 10% ownership?
The requirement ensures the manager maintains meaningful exposure to the Vault and aligns incentives between managers and investors.
#### 11. What happens if a Vault is closed?
All remaining assets are distributed according to ownership shares after positions and orders have been closed.
#### 12. Can a Vault Manager change Vault settings after creation?
No. Core Vault settings are permanent once the Vault has been created.
#### 13. What happens if I make another deposit during the lock-up period?
Any new deposit resets the lock-up period for your entire Vault position. Your next redemption time will be recalculated based on the most recent deposit.
<br>
# How to create and invest in vault
**Vault manager to create vault:**
When creating a Vault, managers must configure the following settings:\
\
1: Click “create vault” button on Vault page 
<img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FTxzWtiYf8Ur5Avu9GVo7%2Funknown.png?alt=media&token=d6564070-81d9-499e-b74f-ae05f2d11792" alt="" height="335.1350923619364" width="599">
\
2: Set the vault
<img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FYEQhc5nUTGoB8ibDZgF4%2Funknown.png?alt=media&token=920f1958-bf53-497e-808c-64f6af585b2b" alt="" height="339" width="602">
<table data-header-hidden data-search="false"><thead><tr><th></th><th></th></tr></thead><tbody><tr><td>Setting</td><td>Description</td></tr><tr><td>Vault Name</td><td>Unique Vault identifier</td></tr><tr><td>Description</td><td>Optional strategy introduction</td></tr><tr><td>ASTER Required</td><td>100 ASTER</td></tr><tr><td>Minimum Initial Investment</td><td>$100 worthed token</td></tr><tr><td>Supported Asset</td><td>USDF, USDT, USD1, USDC,U</td></tr><tr><td>Profit Share</td><td>Percentage of investor profits allocated to the manager</td></tr><tr><td>Lock-Up Period</td><td>Time investors must wait before redeeming after a deposit. Default 1 day (configurable)</td></tr><tr><td>Auto Close on Redeem</td><td>Determines how redemptions are processed when liquidity must be released</td></tr><tr><td>Privacy Mode</td><td>Public, Private, or Flexible</td></tr><tr><td>Advanced setting</td><td></td></tr><tr><td>Min Manager ownership</td><td>Manager can set the minimum ownership percentage of the vault, the default set is 10%</td></tr><tr><td>Tradable symbol</td><td>The vault can only trade in the selected symbols, it can't be changed after vault created.</td></tr></tbody></table>
Important:
* Vault settings cannot be modified after creation.
* Each Vault supports only one deposit asset.
* The selected asset cannot be changed after creation.
Managers must maintain the minimum ownership requirement at all times.
**Investors:**\
\
Depositing Into a Vault
Investors can deposit funds directly into a Vault using the asset selected by the Vault Manager.
<img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2F9IBwaLZVZAEimu4R3EvM%2Funknown.png?alt=media&token=7a2c47a0-dc44-44ec-a025-6b5a3b7acb52" alt="" height="476" width="602">
Key rules:
* Minimum deposit value: 100USDT/USDF/USD1/U
* Deposits are subject to the Vault's lock-up period
* New deposits receive Vault shares based on the current NAV
* Deposits may be disabled by the Vault Manager at any time
Once funds are deposited, they become part of the Vault's trading capital and participate in future profits and losses.
***
### Redeeming Funds
Investors can redeem their Vault shares after the lock-up period expires.
Redemptions are processed according to the investor's proportional ownership of the Vault.<br>
<img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FGsYzF7c9z32g17DT0H10%2Funknown.png?alt=media&token=d78f681f-1281-45ba-b90b-30f138397977" alt="" height="577" width="602">
The value received may include:
* Original deposited assets
* Trading profits
* Realized gains or losses
\
Depending on Vault settings, redemption processing may require open positions or orders to be adjusted before funds become available.
Position reductions may result in slippage and execution costs.\
\
\
\ <br>
# Overview
Aster Chain is a high-performance, privacy-focused Layer 1 blockchain designed specifically for derivatives trading.
It powers Aster DEX, enabling a decentralized exchange environment where traders retain full custody of their assets and benefit from strong privacy protections while experiencing execution speeds comparable to centralized exchanges. Aster Chain enables millisecond-level performance without sacrificing decentralization or transparency.
### **Consensus Mechanism (PoSA)**
Aster Chain uses **PoSA (Proof-of-Staked Authority)** as its consensus mechanism.
PoSA is a hybrid model that combines:
* **Proof of Stake (PoS)** economic incentives
* **Proof of Authority (PoA)** validator reputation systems
This design allows the network to achieve fast execution while maintaining:
* Transparency
* High throughput
* Decentralization
All order matching and trading logic are ultimately processed and stored **onchain**, aligning with the long-term goal of building a **fully decentralized derivatives infrastructure**.
### **Top-Tier Performance**
Aster Chain is optimized for ultra-low latency trading environments.
Through the combination of **PoSA consensus**, integrated node aggregation engines, and block pre-confirmation mechanisms, the network achieves:
* **Block time**: 50 ms
* **Transaction Per Second (TPS)**: up to 100,000 TPS
* **Gas fees**: 0
This performance enables Aster to deliver a trading experience comparable to centralized exchanges while preserving decentralized settlement and verification.
### **Transparent Yet Private**
Aster Chain provides built-in privacy protection for trader activity. When Account Privacy is off, all trader activity is published onchain and publicly visible.
**Account Privacy:** When enabled, your asset balances and open positions are hidden from public view. Account Privacy is powered by two complementary mechanisms:
### **ZK-Verifiable Encrypted Orders**
Every order placed under Account Privacy is encrypted and verifiable using Zero-Knowledge (ZK) cryptography. Trades do not appear directly in the transaction history of the trader's primary address. The underlying order data is never exposed onchain in plaintext.
Users can verify their complete transaction history at any time by providing their viewer pass, which allows selective disclosure without revealing data to third parties.
### **Stealth Address Mechanism**
Each trade under Account Privacy automatically generates a fresh, one-time stealth address for that transaction. A single user accumulates many ephemeral addresses over time, each used only once.
External observers cannot link these addresses back to the trader's real account or correlate activity across transactions.
This makes onchain tracking and behavioral analysis effectively impossible without the trader's viewer pass.
*Note: Hidden orders always require ZK verification regardless of whether Account Privacy is on or off. To comply with regulatory requirements, internal transfers to other users are not permitted while Account Privacy is active.*
***
### **Transparency**
Aster Chain maintains a dedicated block explorer that supports both standard and privacy-aware queries:
* Query assets, positions, blocks, hashes, and transactions.
When Account Privacy is on, trader activity is not publicly displayed.
Users can verify their own private transactions – or those of other traders – via **ZK proof**, provided the viewer pass is supplied.
### **Cross-Chain Interoperability**
Aster Chain is designed to interact seamlessly with multiple major blockchains.
Supported networks include:
* BNB Chain
* Ethereum
* Arbitrum
* Solana
The long-term goal is to support cross-chain perpetual trading and unify liquidity across multiple ecosystems.
***
### **Blockchain Explorer**
Aster Chain provides a dedicated blockchain explorer for network transparency.
#### **Core Functions**
Users can:
* View asset balances and account activity
* Query blocks, transactions, and hashes
#### **Privacy Protection**
When Account Privacy is on:
* Trader activity is not publicly displayed
* Users may verify their own private transactions using **Zero-Knowledge verification**. Verification of other trader’s private transactions requires a **viewer pass**.
***
### Cross-Chain Deposits & Withdrawals
Aster Chain provides a secure cross-chain bridge system.
All bridge operations:
* Are validator-signed
* Can be verified onchain
***
### **Smart Contracts & Open Source Policy**
Bridge contracts and related code will be publicly disclosed on the **Smart Contracts page**.
However:
* Core chain contracts and RPC infrastructure will not be open-sourced at the moment
This approach is designed to:
* Protect proprietary matching engine algorithms
* Improve network security during early deployment stages
Despite partial closed-source components, the ZK architecture ensures trust minimization and censorship resistance.
***
### **Validator Participation**
During Phase 1, external validator participation is not supported.
As the ecosystem grows, Aster plans to gradually introduce:
* Observer nodes
* Staking validators
The long-term architecture aims to expand decentralization while maintaining high performance.
***
### **Deposits**
Cross-chain deposits are processed once 3 out of 4 validator nodes verify the transaction.
* Deposit fee on Aster Chain: 0
* Estimated arrival time: 1–5 minutes
* Ethereum deposits may take longer depending on block production and gas conditions.
### **Withdrawals**
Withdrawals are processed in batched transactions. A withdrawal is confirmed once 2 out of 3 validator nodes verify the request.
Key characteristics:
* Gas fees apply to cover validator operational costs
* Fees are calculated based on the destination chain
* Minimum withdrawal fee may be as low as 1 USDT
Estimated withdrawal time:
* \~30 seconds
* Ethereum withdrawals may take longer depending on network conditions.
***
### **Oracle System**
Each validator calculates a weighted median spot price using data from 14 major exchanges:
* Binance
* HTX
* HitBTC
* Gate.io
* Poloniex
* OKX
* KuCoin
* AscendEX
* MEXC
* Bitfinex
* Coinbase
* Bitstamp
* Kraken
* Bybit
Oracle prices are updated in real time and are used for:
* Funding rate calculations
* Mark price determination
* Triggering TP/SL orders
For liquidation, the system uses the median oracle price weighted by validator stake.
***
### **Clearinghouse**
The Clearinghouse is the core execution component of Aster Chain.
It manages for each trader:
* Status of margin balances
* Open positions
Each perpetual market operates with an independent **order book**.
***
### **Margin Management**
Deposits first enter the user’s cross margin balance. By default, all positions open in cross margin mode.
Traders may switch to isolated margin to limit the risk exposure of a specific position.
#### **Cross Margin**
All positions share a common margin pool. 
Profits and losses are aggregated across the account.
#### **Isolated Margin**
Each position maintains independent margin.\
Liquidation risk is limited to that specific position.
***
### **Data Storage**
Aster Chain prioritizes transparency while maintaining privacy compatibility.
Key trading and account events are recorded onchain, while certain operations remain offchain for privacy protection and system efficiency.
# Staking
### **Overview**
Delegate $ASTER to Aster Chain validators and earn rewards.
When staking, users make two key choices:
* Select a validator 
* Choose a lock period
These two choices determine how rewards are generated and distributed.
The basic staking flow can be summarized as:
Select a validator → Stake $ASTER → Choose a lock period → Earn epoch rewards
### **What is a Validator?**
A validator is responsible for processing transactions and producing blocks on Aster Chain.
When users stake $ASTER, they delegate their tokens to a validator. Each validator contributes differently to the network, and this performance determines the validator's total rewards.
Once the rewards are received, they are shared proportionally among delegators after deducting the validator's commission.
This design ensures validators compete based on real network contribution rather than simply attracting large amounts of stake.
### **What is the Lock Period?**
The lock period is the duration where the staked $ASTER cannot be withdrawn without penalty. It determines your Loyalty Rewards weight, and a longer lock period means greater reward weight.
The current **maximum lock duration is 208 weeks (approximately 4 years).**
### **Dual Reward Structure**
Aster Chain staking distributes rewards through two distinct layers.
<table data-header-hidden><thead><tr><th width="180.24609375"></th><th width="357.06640625"></th><th></th></tr></thead><tbody><tr><td><strong>Reward Layer</strong></td><td><strong>Determined By</strong></td><td><strong>Weekly Reward Pool</strong></td></tr><tr><td>Base APY</td><td>Validator transaction share and your delegation size</td><td>150,000 $ASTER</td></tr><tr><td>Loyalty Rewards</td><td>Lock duration and trading activity</td><td>300,000 $ASTER+ Fee Buyback rewards (variable)</td></tr></tbody></table>
Separating these two reward streams serves two goals:
* Encouraging healthy competition between validators 
* Incentivizing long-term staking commitment 
**New as of June 17, 2026:** Loyalty Rewards now include a variable component on top of the 300,000 $ASTER base. Each epoch, all $ASTER bought back from platform fees is added to the Loyalty Rewards pool and distributed to veASTER holders by lock weight. Permissionless Spot listing fees fund a further buyback into staking rewards on a separate schedule. See Protocol Fee Rewards below for details.
#### **Protocol Fee Rewards** 
As part of Aster's tokenomics upgrade, 99% of daily platform fees are automatically used to buy back $ASTER via TWAP. All bought-back $ASTER is distributed to veASTER stakers — on top of the 300,000 $ASTER base Loyalty Rewards each epoch.
This means your staking rewards scale directly with Aster's trading activity.
**How it works:**
1. 99% of daily platform fees flow into the buyback wallet (0xa0edBaBcb48034e368de286b49F9603C7AfA1b60)
2. Buybacks execute via TWAP across each day and settle on-chain
3. Each epoch, the total buyback amount is added to the Loyalty Rewards pool and distributed to veASTER hol프로젝트로 돌아가기
