Decentralized finance (DeFi) analytics powerhouse DeFiLlama is taking decisive action by delisting the perpetual futures volume data for the decentralized exchange (DEX) Aster. This significant move is driven by serious data integrity concerns, raising questions about the authenticity of Aster's reported trading activity and emphasizing the importance of transparency in the DeFi space.
Data Integrity Under Scrutiny
The primary catalyst for DeFiLlama's decision is the unsettling observation that Aster's perpetual futures trading volumes showed an almost perfect correlation with those of Binance, a major centralized exchange. According to 0xngmi, the pseudonymous co-founder of DeFiLlama, the correlation ratio between Aster and Binance's volumes was approximately 1. This near-identical mirroring of volumes raised significant red flags, prompting an investigation into Aster's data practices.
Lack of Verifiable Granular Data
Further compounding the issue, Aster reportedly does not provide access to granular, lower-level data, such as details on who places and executes orders. This absence of verifiable information makes it impossible for DeFiLlama to independently scrutinize the trading activity and rule out the possibility of wash trading or manipulated volumes. Until such time as verifiable, detailed data can be obtained to ensure legitimate trading, Aster's perpetual volumes will remain excluded from DeFiLlama's comprehensive analytics platform. Aster, which emerged in September and has garnered attention due to its links with Binance co-founder CZ, has yet to respond to inquiries regarding these data integrity concerns.
