Leading decentralized finance (DeFi) analytics platform DefiLlama has quietly restored the decentralized exchange (DEX) Aster to its data listings, weeks after removing it over contested trading metrics. The move came without any official announcement from either party, sparking renewed discussions about data transparency within the DeFi space.
Haseeb Qureshi, managing partner at Dragonfly Capital, highlighted the update on X (formerly Twitter), pointing out noticeable gaps in Aster’s historical data. He questioned the legitimacy of the relisted figures and asked DefiLlama’s pseudonymous founder, known as 0xngmi, for clarification.
In response, 0xngmi acknowledged that the team has yet to fully verify Aster’s data, referring to their backend system as a “black box.” He explained that DefiLlama is actively working on a more robust framework that will incorporate additional metrics to enhance data accuracy. However, at the Aster team’s request, the platform was temporarily relisted pending these improvements.
“We’re developing a new system that will capture more comprehensive metrics, but since that will take some time, the Aster team asked us to relist them in the meantime,” 0xngmi stated.
The initial delisting, which occurred approximately two weeks ago, was prompted by detected inconsistencies in Aster’s on-chain trading data. DefiLlama flagged concerns that parts of the reported activity could not be independently verified, undermining trust in the exchange’s reported volume.
On October 6, 0xngmi elaborated that Aster’s platform limitations hindered the ability to identify parties involved in order-making and order-filling, preventing clear differentiation between genuine trading activity and potential wash trading.
This incident ignited wider debate about the influence and responsibilities of data aggregators in the DeFi ecosystem. Supporters of Aster criticized DefiLlama for perceived centralization and lack of transparency, while skeptics questioned the authenticity of Aster’s rapid growth and market presence.
The episode underscores the challenges faced in verifying data integrity across decentralized markets, where incomplete or opaque information can quickly affect confidence among users and investors.
Following the relisting, Aster’s historical data remains incomplete, leaving noticeable holes that affect trend analysis, market share tracking, and revenue calculations. These gaps effectively reset Aster’s historical record on DefiLlama, limiting the ability of traders and analysts to conduct precise longitudinal comparisons.
Despite this, Aster continues to rank highly on DefiLlama’s leaderboards, maintaining its position as the top platform in both 24-hour and seven-day perpetual (perp) trading volume. It remains ahead of competitors such as Hyperliquid and Lighter.
The DefiLlama-Aster situation highlights ongoing tensions in balancing data accuracy with the evolving nature of DeFi protocols and their reporting standards. As the industry advances, the pressure mounts on analytics providers to strengthen verification methods while supporting emerging projects.
