Assuming white asparagus, here. Sort of works for green, but…

Put them in a pot, add a bit of white wine, lemon, maybe orange, water and some salt, sugar, peppercorns, bay leaves and allspice. Bring to a boil and let simmer for ten to thirty minutes. Strain.

You now have asparagus fond.

Perfect to cook your asparagus in (it will taste better, and make the fond better, too).

And you can use it for all sorts of asparagus-themed things.

• The hollandaise to go with your asparagus? Add a bit of that fond. Works wonders.
• Asparagus risotto? Make a standard risotto, replacing half the chicken or veal stock with asparagus fond. Add some pan-fried green asparagus tips and shredded chervil at the very end—and Bingo, we have a winner.
• That fancy cream of asparagus soup? It's that fond, a bit of blonde roux and royale (half heavy cream, half egg yolks).