Aster has rolled out AOS-2 for perpetual contracts, extending its open listing model from spot markets into crypto derivatives through a public process that requires eligible projects to lock 1 million ASTER for four years, pass an on-chain validator vote and then undergo risk configuration before trading can begin. Approved markets are targeted for listing on T+1 after setup, while rejected applicants receive the full token stake back. The framework applies Aster Open Standards to perpetual futures, or perpetual swaps, a fast-growing part of crypto trading in which contracts have no expiry date and traders can keep leveraged long or short positions open indefinitely. Aster said validators determine whether an eligible market can proceed, but its risk-control team retains authority over leverage, margin and other operating settings, with those decisions to be recorded on-chain. The update builds on AOS-1, which opened spot-token listings to projects meeting published criteria, and gives projects a stated route to seek perpetual listings without relying only on private partnerships. The 1 million-token requirement adds another use case for ASTER and links application costs to the token's market price, though the deposit functions differently from Aster's 50,000 USDT permissionless spot-listing fee because rejected perpetual applications get the full stake returned. The launch comes as decentralized perpetual exchanges gain share in crypto derivatives. CoinGecko's 2026 Crypto Perpetuals Report said perp DEXs increased their share of open interest from 3.6% in early 2025 to 13.5% in early 2026, while open interest across top perp DEXs rose from $1.19 billion at the start of 2024 to $14.99 billion by the end of January 2026. Centralized venues still dominated, with Binance and OKX accounting for 33% and 15% of the market in the first four months of 2026. Aster said AOS-3 will follow, but it has not disclosed the next standard's scope or timing.