- Aster’s new marketplace offers contracts that do not grant voting rights or actual ownership of OpenAI stock.
- The terms of this product use an initial total of 1 billion diluted shares as a reference.
- The platform’s estimated deadline on the OpenAI market is set for the fourth quarter of 2026.
Aster has introduced a new OpenAI Pre-IPO perpetual contract to the market. This is a synthetic financial instrument that trades under the ticker $OPENAI. This new product will allow users to trade up to max. 5x leverage Based on the AI company’s implied price per share in the secondary market. According to the company’s official statement, traders using the market will be able to accumulate 1.2x bonus points on transactions until 23:59 UTC on June 2 next year.
This type of financial derivative is intended to track investor expectations ahead of a potential public listing of a technology company.
New RWA PERP list: $OPENAI
OpenAI Pre-IPO Perpetual launched on Aster with up to 5x leverage. $OPENAI refers to the market suggested price per share of OpenAI.
Trade now. Earn 1.2x trading points until June 2nd 23:59 UTC. pic.twitter.com/SMLskD2rCK
— Aster🥷 (@Aster_DEX) May 26, 2026
Operational dynamics and technical specifications
Aster’s contract operates in a strictly holistic manner, simulating OpenAI’s estimated capital amount. The $OPENAI market uses the following theoretical model. 1 billion fully diluted shares As a basis for pricing derivatives. Investors can open both long and short positions continuously around the clock.
The company believes that its products Does not confer voting rights, dividends, or preferential access Up to the actual allocation of shares in the case of an initial public offering wall street.
Aster has expanded its offering of these types of pre-listing assets. Currently, the platform also operates a market named SPCX, which is equivalent to perpetual futures linked to the valuation of aerospace company SpaceX.
Mitigating risks in the synthetic market
Trading assets prior to an initial public offering are subject to significant operational fluctuations. Reports from the platform warn that these perpetual contracts carry significantly higher risk levels than standard crypto futures contracts due to the lack of liquidity in the actual underlying assets. The provisions of the Protocol provide: Aster reserves the right to adjust, extend, early settle, or delist pairs. If conditions in the private market change significantly.
The launch coincides with a surge in retail investor interest in getting into privately held technology companies, including: human and OpenAI itself.
Market analysts have repeatedly noted that traditional access to late-stage startups is typically opaque and expensive. Many of the physical alternatives available to retail investors include complex intermediary structures, high management fees, or special purpose vehicles that do not guarantee direct transfer of ownership. Considering this scenario, Astor’s derivatives are presented as a purely speculative alternative based on price expectations, subject to the stability of the contract issuer.
If OpenAI indefinitely postpones or definitively cancels its debut on the traditional stock market; Astor’s terms indicate that the platform will proceed with the conclusion and settlement of contracts based on the valuation criteria available in the secondary market at the time.
