Astar Research Hub | ASTR information, history and analysis
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:
- Pay for on-chain transaction fees.
- Facilitate the governance activities such as voting and referenda.
- ASTR holders can stake Astar tokens on dApps as well as on the network.
- Application developers on Astar Network receive Astar tokens by making smart contracts or infrastructure for Astar Network community.
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.
Developers of Japanese dApp and layer-two solution Astar Network are proposing to burn 350 million ASTR tokens, worth $38 million at the time of publication, to improve its tokenomics.
In the short term, burning a significant portion of the ASTR supply will reduce inflationary pressures and potentially increase the token’s market value.
Startale Labs raises $3.5 million from UOB, Samsung in extended seed round
Singapore-based web3 firm Startale Labs has secured an additional $3.5 million from UOB Venture Management — a subsidiary of Singaporean bank UOB — and Samsung’s CVC arm Samsung Next, in an extended seed round.
Startale said that the newly raised capital brings the total seed round funding to $7 million.
Deloitte and Japan Sports Agency to launch NFT game on Astar zkEVM
Deloitte and the Japan Sports Agency have announced plans to launch a baseball-themed NFT game on the Astar zkEVM platform.
The Astar zkEVM platform will provide the necessary infrastructure for the development and deployment of the baseball-themed NFT game.
Astar Network announces major updates including dApp stake v3 and token economy model
The dApp Stake v3 update will focus on optimizing the staking process for decentralized applications, while the token economy model will provide a more efficient and transparent system for users.
The Astar zkEVM, on the other hand, will introduce a new layer of privacy and security to the platform.
Astar Network cooperated with Polygon to launch the Ethereum Layer 2 network Astar ZkEVM
Astar Network partners with Polygon Labs to launch Astar zkEVM, a Layer 2 solution for Ethereum scalability and Web3 adoption.
Utilizing Polygon CDK, the testnet for Astar zkEVM is set to debut in Q4 with sETH as the Gas token for testing.
Japanese railway operator launches NFTs on Astar Network
One of the largest railway companies in Japan scores a partnership with the most popular Japanese L1 blockchain, Astar Network.
The JR Kyushu NFT initiative is set to go live in July 2023 to provide riders with new ways to enjoy Kyushu’s level of service and keep travel holistic.