What is Astar Network? Find out the details of the Astar Network project and the ASTR . token

• Overview of Astar Network
• What is Astar Network?
• Basic Features of Astar Network
• Advantages of Astar Network
• Astar Network Development Team
• Development plan
• Advisors, investors and partners of the Astar Network project
• ASTR . token overview
• What is ASTR Token?
• Token Finance Mechanism
• Functions of the ASTR . token
• Where can ASTR tokens be bought and sold?
• The future of the Astar Network project. Should I invest in ASTR tokens?
• Sponsored by Stake Technologies
• Ecosystem Growth Fund - 30 million USD
• Auction
• summary

Overview of Astar Network

What is Astar Network?

Astar Network is a layer that helps connect multi-chain decentralized applications to Polkadot, using solutions such as Ethereum Virtual Machine, WebAssembly and Layer 2. The platform supports various decentralized applications such as DeFi, NFTs and DAOs. This will help project developers on Polkadot to fully focus on building decentralized applications (DeFi Dapps) . Shiden Network is a "sister" network of Astar Network and also a Dapp hub on Kusama.

In addition, from December 17, 2021 to October 20, 2023, Astar Network can be considered a parachain on Polkadot when the project won the parachain auction event on Kusama, with a total raised capital of 10,333 .552 DOT (equivalent to 269,085,695 USD). Therefore, the project now has security features inherited from the Relay Chain chain, and can connect with other parachains on Polkadot.

Basic Features of Astar Network

Astar (formerly Plasm) is a library of Substrate Runtime modules that allow developers to add Plasma functionality to their Substrate chain. By adding the Astar library, developers can create scalable blockchains within minutes.

Besides being a project that really supports Gavin Woods' vision, as well as building on Substrate from the very beginning. Astar received the most Web 3.0 grants in the Polkadot ecosystem with a total of 7 grants. Astar and all other projects in the Polkadot ecosystem are building the future Web 3.0 infrastructure .

Some readers may not know much about the Substrate Runtime's library of modules. Basically, Substrate includes 2 components: Substrate Core and Substrate Runtime Module Library (also known as SRML). Developers can customize Substrate Core with SRML and generate an original Substrate sequence. Meanwhile, Plasma technology is a Layer 2 scaling solution. This technology makes the algorithms scalable by structuring economic incentives, in order to operate the blockchain autonomously without needing to be. under the control of any operating unit. Under the most ideal conditions, it can bring infinite scalability to any blockchain.

Advantages of Astar Network

Compatibility with Ethereum and Cosmos blockchains

Astar Network supports both WASM (WebAssembly) programming language and EVM virtual machine system. So developers can deploy Ethereum and Cosmos pre-existing smart contracts on Polkadot without reprogramming.

Multi-Chain Support

This technology helps projects connected to Astar Network to reach many investors from different ecosystems.

Various decentralized applications for staking

Users can earn more ASTR tokens using decentralized applications for staking on ecosystems like PolkaDot, Kusama, Ethereum and Cosmos.

Fast transaction speed with low cost

Astar Network provides scalability for DeFi Dapps and supports Layer 2 solutions such as Rollup. This not only improves transaction processing speed on the Ethereum, Cosmos and Polkadot blockchains, but also reduces the cost per transaction.

Astar Network Development Team

The project was developed by Sota Watanabe, Masaharu Uno and several engineers with many years of experience in the field of blockchain technology such as Takumi Yamasshita and Task Ohmori.

Development plan

Astar Network's development roadmap in 2022:

Quarter 1 – 2022

• Launch of the Astar network 
• Integrating Anyswap bridge into the Astar . portal 
• Astar portal redesign 
• Astar . Incubation Program 
• Program to call on the community to contribute Build2Earn proposals 
• Token economy structure for decentralized applications in the Build2Earn program
• Monitor Collator 
• FinOps Infrastructure 
• Foundation for ZK-Plonk Web3 
• Ink contract support! on parachain
• XCM . integration 
• Packing according to Astar standards 
• Setup tools for EVM.

Quarter 2 – 2022

• Add Arthswap to Astar Portal 
• Improved Astar Portal performance 
• A learning hub for Dapp . developers 
• XCM . client library 
• Metrics to measure staking performance on Dapp
• New Astar Homepage 
• Public terminal computer cluster
• On-chain governance 
• Support Ask! and other WASM contract languages 
• WASM . Contract Tools 
• xVM protocol demo with EVM.

Quarter 3 – 2022

• Integrate bridges with Astar Portal
• Layer 2 Development Tools
• Staking administration tool on Dapp
• Testing applications running on Layer 2
• xVM protocol demo with WASM 
• Experiment with staking multiple tokens on Dapp.

Quarter 4 – 2022

• Astar's Consensus Mechanism 
• Astar Academy Certificate 
• xVM client library
• Support for XCM Staking Dapps 
• Partnerships with Layer 2 projects
• xVM protocol demo with XCM.

Advisors, investors and partners of the Astar Network project

Astar Network has raised a total of more than 271 million USD in funding through 2 rounds of Series A and crowdloan. Investors in this project include Binance Labs, Hypershere, Fenbushi Capital, Hashkey Capital, Huobi Ventures, DFG Ventures, KR1 Ventures. OKEx Blockdream Ventures, LongHash Ventures, gumi Cryptos, Subo Capital, Digital Strategies, Altonomy, AU21 Capital, TRG Capital, PAKA Ventures, SNZ Ventures, East Ventures and IOSG Ventures.

ASTR . token overview

What is ASTR Token?

ASTR is the utility and governance token of Astar Network. Basic information of ASTR:

• Project name: Astar Network
• Token: ASTR
• Support Network: PolkaDot, Ethereum and Cosmos
• ERC-20 address: 0x67f6b5bc5670fd29bcc8af3d6633b2840aba2f30
• Total supply: 7,000,000,000 ASTR tokens
• Unit price: 0.275454 USD/token (January 17, 2022)
• Trading volume for the last 24 hours: $53,552,274

Token Finance Mechanism

ASTR token allocation ratio:

• Early users and supporters: 30%
• Parachain Auction 2021: 20%
• Reserve fund for parachain auction: 5%
• Protocol development: 10%
• On-chain DAO governance: 5%
• Marketing costs: 5%
• Early donors: 10%
• Development Team (Employee Offer): 5%
• Platform development: 10%

In particular, the policies for the participants of the last crowdloan:

• Total supply: 7 billion (7,000,000,000) ASTR tokens
• 20% of total initial supply (1.4 billion ASTR): 15% for base reward, 5% bonus
• 10% advance payment when transferring, 90% installment in 22 months
• All locked tokens can be staked to earn more in Dapp Staking.

Functions of the ASTR . token

Since the ASTR token is both a utility token and a governance token of Astar Network, it has the following functions:

• Use as transaction fee: Users will use ASTR tokens to pay for all transactions on Astar Network.
• Participation in governance: ASTR token holders have the right to participate in the system administration process as well as they can contribute ideas to help developers build Astar Network.
• Staking: ASTR token holders can stake them on staking Dapps supported by Astra Network and receive ASTR tokens.
• Layer 2: To build Layer 2 applications, project developers need to transfer some ASTR tokens through Astar Network's Layer 1 smart contract.

Where can ASTR tokens be bought and sold?

Currently, the ASTR token has been listed on cryptocurrency exchanges such as Huobi Global, OKEx and Gate.io, with the price currently hovering at 0.275454 USD/token and the trading volume in the last 24 hours is $53,552,274 USD (January 17, 2022).

The future of the Astar Network project. Should I invest in ASTR tokens?

Sponsored by Stake Technologies

Stake Technologies, the company behind Plasm Network and Shiden Network, has raised $10 million in a funding round led by Fenbushi Capital.

A long list of investors also participated in the round, including: Hypersphere Ventures, AU21 Capital, Digital Strategy and others. The round also featured a number of notable angel investors, including Nobuyuki Idei, a former Sony executive and chairman.

Stake Technologies will use funding in parachain auctions to help Astar Network win slots on Polkadot and its “sister” network on Kusama.

Ecosystem Growth Fund – $30 million

To kickstart the ecosystem development, on September 6, 2021, the development team announced the launch of the $30 million Astar/Shiden Ecosystem Growth Fund.

The Ecosystem Growth Fund is intended to be used for the following purposes:

• Financial support for those participating in the builder program
• Support growth: Hackathon, event for builders…
• Campaigns
• Sourcing venture capital for promising projects
• Seed sponsorship.

Auction

Currently, Astar Network is the third largest crowdfunded project, with over 18,000 contributors locking their DOT in favor of the ASTR token. It proves that Astar Network has a strong and supportive community that will kickstart the platform and propel it into a thriving network.

In addition, Binance Labs invested projects will often be listed on Binance Exchange – one of the largest CEX in the world. This is a potential opportunity for the project to grow as well as the token price may increase.

summary

Astar Network is an interoperable blockchain, built on the Substrate framework and is the hub for Dapps in the Polkadot ecosystem. With Astar Network and Shiden Network, investors can stake their tokens into smart contracts to reward projects that provide value to the network.

Detailed information about the Astar Network project can be viewed at the following media channels:

Website | Project Information | Twitter | Telegram | Medium | GitHub | Discord

• Toyota sponsors Astar Network Hackathon
• Astar Network Named “Project of the Year” at JBA Annual Blockchain Awards