Aster lists OURA/USD1 pre-IPO perpetual with 20x leverage as smart ring maker heads to Nasdaq

Decentralized exchange Aster has launched a perpetual futures contract tied to Oura Health’s upcoming IPO, giving crypto traders a way to speculate on the Finnish smart ring maker’s public market debut with up to 20x leverage. The OURA/USD1 Pre-IPO Perpetual went live on September 23, just two days after Oura kicked off its IPO roadshow. Oura is targeting a Nasdaq listing under the ticker ‘OURA,’ with plans to offer 50 million shares priced between $40 and $44. That puts the company’s fundraising target at roughly $2.2 billion, with a fully diluted valuation in the range of $14.1 billion to $15.6 billion. What Aster is actually offering The contract is a synthetic perpetual future, which means it tracks the market-implied price per share of Oura without conferring any actual equity ownership. Traders are placing bets on where they think the stock will land, not buying a slice of the company itself. All settlement happens in USD1, the dollar-pegged stablecoin created by World Liberty Financial. Aster has been deliberately building out a suite of products that use USD1 as the exclusive settlement asset for its real-world asset and select equity perpetual contracts. The OURA listing i...