If the main battleground for the market maker is truly Aster, then this big player's order placement logic is worth肯定.

The platform limits leverage to 1x, which will fundamentally restrict and deter market makers.
Suppose the market maker previously used 10x leverage; after the new rules take effect, their position size will only be 1/10 of the original.
With the same margin, the market maker's capital advantage and ability to create price fluctuations will be greatly reduced.
At the same time, even if the price moves favorably, the market maker's profit will be far lower than during high leverage periods, and considering the costs involved, the cost-effectiveness of trading at this point will also be significantly lower.
It should be noted that large capital and high leverage are two essential tools for market makers; lacking either one, they cannot establish massive positions capable of unilaterally dominating prices in the market.
Leverage being cut means the actual capital cost for the market maker to operate will increase significantly.
Taking the previously described 10x leverage as an example, the current market maker now needs to put in ten times the original principal to stabilize the market and maintain the previous profit-loss ratio.
In reality, this big player is betting that the market maker doesn't have this strength, or betting that the market maker is unwilling to continue trading at higher costs.
Plus, the platform's rules are clearly aimed at regulatory control, effectively tagging the underlying asset as high risk, discouraging retail traders from following the trend.
As far as I know, opening orders on Aster is a very niche choice; most traders prefer to trade contracts on major centralized exchanges.
This indicates that even if Aster lowers Pippin's leverage to the minimum, its impact on speculative traders' participation willingness and position sizes is actually quite limited, and market makers still have plenty of follow-on traders to push the market.
All in all, his logic isn't wrong, but whether the direction is correct still needs time to be verified.
As the big player himself said, this short position is a very risky trade.
$PIPPIN