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Information about Astar (ASTR)
Astar Network is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines. Astar Network solves prominent issues: scalability and interoperability, allowing developers to quickly and easily build applications on Astar Network using a variety of programming languages. In addition, Astar Network is built on Parity Substrate making it one of the first scalable smart contract Polkadot Parachains. This allows data and tokens to be transferred among parachains seamlessly and enhances network security.
ASTR is a native token of the Astar ecosystem and can be used to:
News
Astar Surge campaign details: The Astar Surge campaign begins on December 18. It allows ASTR token holders to deposit tokens into contracts on Astar’s Layer 1 network, earning points for each decentralized application (dApp) they engage with.
Impact on web3 ecosystem: This initiative enhances the connection between users and the growing web3 ecosystem. Maarten Henskens from Astar Foundation highlighted its role in facilitating early access to innovative Soneium dApps while securing liquidity for seamless migration.
Role of Soneium in the market: Amidst a crowded L2 market with strong chains like Arbitrum and Optimism, Soneium stands out as a new L2 network backed by Sony. With its presence, Soneium is expected to expand the Web3 market by attracting users from various social strata to participate in this field.
Goals of Soneium: Soneium is not merely a blockchain experiment but a consumer-focused platform. It allows anyone, including the elderly, to become creators on this platform, opening new opportunities in various fields from entertainment to finance.
Benefits of collaboration with Astar Network: Soneium has partnered with Astar Network, a leading Web3 project in Japan, to build a strong DeFi ecosystem. Through grant programs and community connections, this partnership promises to boost development and attract potential projects to Soneium’s ecosystem.
Sony Network Communications, a subsidiary of the $106 billion multinational conglomerate, is teaming up with Astar Network’s spin-off, Startale Labs, to develop a blockchain.
Sony hopes for the blockchain to become a “backbone of global web3 infrastructure” in addition to hosting blockchain-based offerings from Sony.
Multi-chain smart contract network Astar Network will burn 350 million ASTR tokens, 5% of its total supply after a governance vote.
A token burn is typically considered a bullish event as it removes potential supply from the market.
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