Aster Unveils Hidden Orders—CZ Calls It a Step Toward Dark Pool DEXs

Decentralized crypto trading platform Aster recently announced the launch of a new feature. This new component, now available on the DEX, is called “Hidden Orders” and lets users place trades without immediately showing their size or timing in a public ledger. 

This feature is especially useful for investors who move large sums of money, as it prevents sudden market movements from copycat traders. Moreover, in traditional trading platforms, investors can be copied by people, and even bots, making their potentially unique entry somewhat less significant. 

Binance founder CZ reposted the announcement, adding his own take on the subject. According to him, the crypto world may need a “dark pool”-style trading, like in traditional finance, where big trades happen privately.

CZ expanded on his position in a detailed thread, arguing that public order books, especially on decentralized perpetual (perp) exchanges, can be a serious liability for traders. While DEXs pride themselves on transparency, that visibility can become a weapon when leveraged by front-running bots or coordinated liquidation attacks.

“If you're looking to purchase $1 billion worth of a coin, you generally wouldn't want others to notice your order until it's completed,” CZ wrote. “In the case of a DEX, this can lead to MEV attacks. This results in increased slippage, worse prices, and higher costs for you.”

He also highlighted the risk of being liquidated when positions are visible in real time, something unique to perpetual contracts, where open leverage and funding rates create a highly volatile environment. While centralized exchanges can obscure trader identity, DEXs often expose positions at wallet level, making them easier targets.

In response, CZ suggested that the industry might be ready for a “dark pool-style DEX + perps” model, one that hides order books or delays smart contract interactions. He floated privacy tools like zero-knowledge proofs (ZK tech) as a potential way forward.

Trading on BloFin just got a whole lot more interesting. Yes, you read that right: hit the right volume and you could walk away with a MacBook, Apple Vision Pro, or even a $9,400 Rolex.