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Polkadot's Parachain Auctions Filling up With Astar Network Winning Third Slot

In what is best described as a precedented move, the Astar Network has won the third parachain auction slot on the Polkadot Network.

With the total number of positions filling up so fast, the capabilities of the Polkadot blockchain are now being stretched, just as it is designed to operate.

Riding on the prior successes of Acala and the Moonbeam networks, Astar Network raised a total of 10,333,552 DOT coins worth approximately $372.9 million to secure the third slot from more than 27,000 contributions. Astar Network will now be joining the limited number of protocols that would be launching with the parachain network later this December.

Astar Network is formerly known as Plasm Network, and it represents a unique technological offshoot built on the Polkadot network. It is essentially a Substrate Runtime Module Library that allows developers to add Plasma functions to their Substrate chain. By adding an Astar (previously Plasm) Substrate Runtime Module Library, developers can get scalable blockchains within a few minutes. The tailored capabilities of these blockchains now reside with the respective developers to fathom.

Astar Network saw a massive backing in its bid toward the Polkadot auction. While the protocol and the work it is fronting is being acknowledged by Venture Capital firms and angel investors like Binance Labs, PAKA Ventures, and OKEx amongst others, Digital Finance Group allocated 300,000 DOT tokens worth approximately $12.8 million tokens to support the auction bid of the Astar Network back in November.

Just like other previous winners, Astar Network will be rewarding its backers with its native tokens as the participant’s DOT tokens get locked for the duration in which the auction slot will be opened. There are bound to be two more contenders to make up the predefined 5 slots for the parachains. While the competitions continue to hit up, Clover Finance and Parallel Finance are still amongst the favorites to win the next slots, if the tides do not change in the coming days.

Image source: Shuttstock

Polkadot Auction Winner Astar Network Secures $22M in Venture Capital Funding

Astar Network, a Polkadot parachain auction winner has secured the sum of $22 million from venture capital as well as angel investors.

As unveiled by the blockchain protocol, the fundraise drew participation from Polychain, Alameda Research, Alchemy Ventures, Animal Ventures, Crypto.com Capital, Digital Finance Group, GSR, ROK Capital, Scytale Ventures, Vessel, Injective Protocol, and angel investors including Dr. Gavin Wood, Richard Ma, Keisuke Honda, and some executives from Web3 Foundation and Parity Technologies.

While venture funding is growing at a very fast pace, Astar Network is a protocol that was deserving of consideration from investors based on the innovative solution it is heralding. Built as a protocol to take network interoperability to a whole new level, Astar Network became the third protocol to win a Polkadot parachain auction, a development that showcases how well it has a community that believes in its push. Astar Network is also building a framework whereby Web3.0 developers can be incentivized adequately for their work.

“Astar is making a highly competitive bid for new developers to the Polkadot space, and we’re excited to be partnering with them. The project’s focus on including additional WASM-compiling languages in their EVM’s compatibility should help attract development in many more programming languages, and their dApp staking platform represents an innovative new approach to bootstrapping and funding an emergent ecosystem,” Ben Perszyk, Partner at Polychain Capital.

With the new funding, the startup now has the financial backing to continue in its development of a multichain solution. As detailed by the startup, it is working relentlessly to be a multichain smart contract hub by connecting multiple L1 chains and supporting multiple smart contract virtual machines. Currently, 2 Ethereum bridges are live and 1 Cosmos bridge is under heavy development. In its ambitious timeline, the startup hopes to connect all major chains by Q4 this year.

Image source: Shuttstock

Web3 Development Platform Alchemy Adds Polkadot's Parachain Astar Network

Alchemy, a pioneer in the blockchain developer platform, announced that it would partner with Astar Network to accelerate Web3 development on Polkadot.

The collaboration will allow developers to use Alchemy’s powerful API to create complex applications that implement functionality not available on the Polkadot blockchain.

Alchemy also said that web3 developers could earn basic income through staking rewards, a native feature of Astar.

Rob Boyle, Head of Product at Alchemy, said: “Alchemy infrastructure makes it easier for developers to build any dApp with infinite scalability, accuracy and reliability. We’re thrilled to combine forces with Astar to foster an era of better Web3 building that will power the decentralized applications of tomorrow.”

Astar allows developers to interoperate with the Polkadot ecosystem, building dApps using EVM and WASM smart contracts via the Polkadot blockchain’s Cross Consensus Messages (XCM).

Alchemy, which runs 70% of its applications on the Ethereum blockchain, provides a new business model that revolves around decentralized finance (DeFi).

The blockchain startup has also been backed by big-name investors such as Jay-Z, Will Smith, and John Schwab, among others. Founded in 2017 by two Stanford University classmates, Nikil Viswanathan and Joe Lau, Alchemy has come a long way since.

Astar Network Named ‘Product of the Year’ At the JBA Annual Blockchain Award

Tokyo, Japan, 23rd December, 2022, Chainwire

Astar Network, the smart contract platform for multichain, has been awarded the Product of the Year at the 4th annual Blockchain Award by the Japan Blockchain Association. Astar Network’s founder and CEO Sota Watanabe bagged the Person of the Year award for the second consecutive year at the same event.

Both Astar Network and Sota Watanabe emerged as the favorites of the Japanese Web3 community in a survey conducted by the Japan Blockchain Association (JBA). The JBA is the largest blockchain association in Japan, consisting of 171 companies including bitFlyer, Coincheck, Microsoft, GMO, EY, Deloitte, PwC, KPMG, Toyota, and ConsenSys.

Sota Watanabe, the founder and CEO of Astar Network, said, “We are delighted to have been recognized by the Japanese Web3 community. As Japan’s leading blockchain project, we remain committed to accelerating Web3 innovation through Astar. In 2023 and beyond, we will leverage our presence in Japan to unlock opportunities for entrepreneurs, developers, and users alike.”

Astar Network is the leading Layer-1 chain in Japan. As a parachain of Polkadot, it enables developers to build interoperable dApps. It supports both EVM and WASM smart contracts with cross-consensus messaging (XCM) and cross-virtual machine messaging (XVM).

As the Japanese government has made Web3 a part of its national strategy, Sota Watanabe is helping the government on the path forward. Sota has also been featured in the Forbes 30 Under 30 for both Asia and Japan. He has also been picked as one of the top entrepreneurs in Japan, and graces the cover of the latest edition of the Forbes Japan magazine.

Astar Network is the go-to blockchain for developers and enterprises interested in exploring the Japanese Web3 space. It’s also the first public blockchain from the country to be listed there despite Japan’s strict listing regulations. Astar’s native token ASTR is registered as a cryptocurrency, not a security, by the Japanese government.

About Astar Network

Astar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability, with cross-consensus messaging (XCM) and cross-virtual machine (XVM). We are made by developers and for developers. Astar’s unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for the code they write and dApps they build.

Astar’s vibrant ecosystem has become Polkadot’s leading Parachain globally, supported by all major exchanges and tier 1 VCs. Astar offers the flexibility of all Ethereum and WASM toolings for developers to start building their dApps.

Contact

Maarten Henskenspress@astar.network

Astar Network To Launch Smart Contracts 2.0 on the Mainnet on April 6th

Tokyo, Japan, April 3rd, 2023, Chainwire

On WASM Launch Day, Astar along with Polkadot and other ecosystem partners will host a virtual panel discussion with developers

Astar Network, a smart contracts platform for multichain, is thrilled to announce that it will launch Smart Contracts 2.0 – the WebAssembly (WASM) smart contracts that extend the Web3 functionality of EVM – on the mainnet at 14:00 UTC on Thursday, April 06th. With this technical update, Astar Network will support both Ethereum Virtual Machine (EVM) and WASM VM smart contracts on the mainnet.

Astar Network is hosting a virtual celebration with the entire Web3 community, called WASM Launch Day. Interested developers, Web3 enthusiasts, and those new to crypto can RSVP for the live panel discussion on WASM Launch Day here. Astar’s Founder Sota Watanabe, Head of Growth Maarten Henskens, and Polkadot developers along with the leading infrastructure teams will discuss how WASM will revolutionize blockchain.

With our next level smart contracts, you can create a WASM or EVM project, and you can create new multichain applications. Anyone can also connect their Astar project to any Polkadot or EVM ecosystem. There are no limitations on what you can build. This is the next level of smart contracts!” said Sota Watanabe, Founder of Astar Network.

Moreover, Astar Network will hold a virtual meet-up with Parity, Phala, DIA, SubWallet, Brushfam & Subsquid– the infrastructure partners that will build the foundation of Astar’s WASM environment. Developers will also be apprised of how to create a promising multichain network on Astar.

On April 6th, Astar Network will become the first Polkadot parachain to support a stable WASM environment by enabling ink! smart contracts. Software developers will be able to build with Polkadot, too, thanks to the XCM functionality.

Astar Network supports both the Ethereum Virtual Machine (EVM) and WebAssembly (WASM) smart contract environments. Having two VMs simultaneously and making them interactive is a key success factor for an emerging Layer-1 blockchain. Though Ethereum brought us the Web3 revolution with the introduction of smart contracts, it cannot build the innovative future of blockchain alone.

WASM VM enables new developers to begin their Web3 journey on Astar since it is compatible with many programming languages including C/C++, GO, TypeScript, Java, and RUST. Developers don’t need to learn a new programming language from scratch to start building. They can build with the language they are already familiar with. The variety of tools and resources used by software developers can now be integrated with Astar technology.

As one of the leading teams pushing WASM and EVM smart contract environments that allow developers to deploy dApps with ease, Astar is committed to bettering the infrastructure around Wasm and ink! within the Polkadot ecosystem.

About Astar Network

Astar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability with cross-consensus messaging (XCM) and a cross-virtual machine (XVM). Astar’s unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for their code and the dApps they build.

One of the first parachains to come to the Polkadot ecosystem, Astar is a vibrant network that is supported by all major exchanges and tier 1 VCs. Astar offers the flexibility of all Ethereum and WASM toolings for developers to start building their dApps. To accelerate growth on Polkadot and Kusama Networks, Astar SpaceLabs offers an Incubation Hub for top TVL dApps.

Contact

Maarten Henskenspress@astar.network

Astar Network Launches Second Iteration of Smart Contracts

Astar Network Launches Second Iteration of Smart Contracts, Supporting Ethereum Virtual Machine and WebAssembly Virtual Machine

Astar Network, a multichain decentralized application (DApp) protocol, has announced the launch of the second iteration of its smart contracts on its mainnet on April 6. This iteration will support both Ethereum Virtual Machine (EVM) and WebAssembly Virtual Machine (WASM VM), and the Astar team claims that having both virtual machines and allowing interactions between the two is a “key success factor” in an emerging layer-1 blockchain.

According to the Astar team, even though the Ethereum network brought about the Web3 revolution through smart contracts, it cannot build the future of blockchain on its own. Therefore, Astar Network is offering an alternative for developers who want to utilize the benefits of both EVM and WASM VM.

To celebrate the launch, the Astar team has invited community members to a panel discussion led by its executives and various Polkadot developers to discuss how WASM can be utilized. The company will also meet with its infrastructure partners who will build the foundations for the WASM environment.

This announcement comes as Ethereum layer-2 scaling solution Polygon has recently released its zkEVM beta to its mainnet, allowing developers to deploy smart contracts at lower costs. Polygon founder Sandeep Nailwal described zero-knowledge (ZK) proofs as the “holy grail of Ethereum scaling.” The release of Polygon’s zkEVM beta and Astar Network’s launch of its second iteration of smart contracts both offer alternative solutions for developers who want to utilize the benefits of Ethereum scaling.

Meanwhile, the Web3 Foundation, the team behind Polkadot, has once again argued that the Polkadot (DOT) token is not a security. On Jan. 26, the firm restated that DOT has already morphed away from being a security and said that the United States Securities and Exchange Commission has welcomed talks with the firm.

In conclusion, Astar Network’s launch of its second iteration of smart contracts that support both EVM and WASM VM offers an alternative solution for developers who want to utilize the benefits of both virtual machines. As the blockchain industry continues to grow and evolve, it is likely that we will see more alternative solutions and protocols emerge to meet the demands of developers and users alike.

Fireblocks Integrates Astar Network, Boosting Secure DeFi Access for Institutions

Digital asset management platform, Fireblocks, has now incorporated Astar Network, Japan’s leading blockchain, marking an expansion in the company’s secure services for institutional investors. With the new integration, over 650 banks and financial institutions can now tap into Astar’s thriving DeFi ecosystem, as well as trade, swap, and lend digital assets on Astar via Fireblocks.

Astar Network has rapidly become a preferred choice in Japan owing to its support for the popular Ethereum Virtual Machine (EVM) environment, as well as the addition of WebAssembly (WASM), transforming it into a multi-chain platform supporting interoperable applications.

Fireblocks, well-known for its commitment to security, has managed to have its digital asset infrastructure system certified by the Cryptocurrency Certification Consortium (C4), making it the first service provider to receive such recognition. Its multi-party computation (MPC) technology has won over traditional financial clients including BNY Mellon, ANZ Bank, and NAB, as well as Japanese trading platforms such as CoinTrade.

Stephen Richardson, Managing Director, Financial Markets and Head of APAC at Fireblocks, commented on the integration saying, “Fireblocks has always focused on facilitating institutional adoption in the digital assets industry. By leveraging our highly secure network and MPC-based wallet infrastructure, banks, exchanges, OTCs, and hedge funds can now seamlessly access Astar’s assets.”

The integration was celebrated at a special event during WebX in Tokyo, attended by more than 200 guests, including executives of global enterprises, web3 founders, and venture capitalists. The attendees gained valuable insights into the application of web3 technology in the corporate sphere, and the growing role enterprises play in web3, particularly in Japan, where the government is progressively exploring ways to utilize web3 technology.

Maarten Henskens, CEO of Astar Foundation, emphasized the impact of the integration stating, “We’re looking forward to leveraging this integration to enhance adoption while giving institutions looking to build on Astar a secure and robust way to safeguard their digital assets.”

Astar Network (ASTR) Announces Tokenomics 2.0 with Enhanced Burning Mechanism

Astar Network, a leading blockchain platform in Japan, has unveiled its Tokenomics 2.0 strategy, focusing on creating sustainable growth for its native token, ASTR. The announcement comes on the heels of the network’s recent integration with Fireblocks, a digital asset management platform, to boost secure DeFi access for over 650 banks and financial institutions.

The network, which already burns 80% of transaction fees, has expressed its intention to increase the amount burned through a new mechanism called DApp Staking Burning. The process will categorize projects that are part of dApp staking into tiers based on their value to the network. The higher the value, the more support they receive from the community, with great developers still receiving more rewards.

However, each tier will have a limited number of open slots. If some slots are unfilled, the rewards normally given to those slots will be burned instead. As stated in the official tweet, “Unused rewards will be burned… gone forever!”

By rewarding the most valuable projects and burning the rest, Astar aims to build a thriving and sustainable future for ASTR holders, stakers, and developers.

The announcement follows the integration of Astar Network with Fireblocks on July 27, 2023. This collaboration allows over 650 banks and financial institutions to tap into Astar’s thriving DeFi ecosystem, as well as trade, swap, and lend digital assets on Astar via Fireblocks.

Astar Network has rapidly become a preferred choice in Japan, supporting the popular Ethereum Virtual Machine (EVM) environment and the addition of WebAssembly (WASM), transforming it into a multi-chain platform.

Astar Network Publishes Tokenomics 2.0: A New Approach to Inflation, Fees, and dApp Staking

Astar Network has announced a comprehensive update to its tokenomics, referred to as Astar Tokenomics 2.0, aiming to drive sustainable growth and improve user engagement. The detailed explanation of the changes was posted on the Astar Network forum, and here’s a summary of the key aspects:

Current Tokenomics Overview

The current tokenomics of Astar Network involves a fixed inflation rate of roughly 9.5% per year, with each block emitting 253.08 new ASTR tokens. The distribution of these tokens goes to various actors within the network, including the collator responsible for authoring the block and the on-chain treasury.

Problems Addressed

The new proposal aims to address several issues:

High & Fixed Inflation: The current fixed block reward doesn’t adjust based on network utilization or the number of dApps.

Scalable & Inclusive dApp Staking: The existing dApp staking model needs to be more dynamic and scalable.

Native & Ethereum Fee Alignment: The fees between native Substrate and Ethereum are not aligned.

High Treasury & Collator Rewards: The current allocation to the treasury and collators is considered excessive.

Proposed Solution

The proposed changes are comprehensive and include the following key aspects:

Inflation: The new inflation rate will dynamically adjust every year based on the total supply, with an estimated yearly inflation of around 5.8% if the proposed model is deployed immediately.

Treasury: A fixed rate of 5% of the yearly inflation will be assigned to the treasury.

Collators: Collators will receive 3.2% of the yearly inflation, a reduction from the current rate.

dApp Staking: The new model introduces tiers and makes the system more inclusive for new dApps.

Transaction Fees: The solution aims to align Substrate native & Ethereum fees as closely as possible.

Rent Fees: Rent fees will be reduced by a factor of 100, making on-chain storage significantly cheaper.

Summary of Changes

The main modifications include adjustments to the inflation model, dApp staking protocol, transaction fees, and rent fees. Some of the highlights include:

If TVL (Total Value Locked) is not in the ideal range, not all staking rewards will be minted.

If empty slots are present in dApp staking during a period, the rewards for that period will be burned.

Transaction fees will incur a significant burn, with 80% being burned and 20% being deposited to the collators.

The inflation rate will constantly adjust to on-chain parameters.

Next Steps

The Astar Network team has outlined the next steps, including opening up community forum discussion, sharing the implementation plan & execution, and creating comprehensive documentation.

The proposed changes are seen as progressive steps to elevate Astar’s tokenomics for a sustainable future. The adjustments are not considered final and can be modified as needed for the stability and health of the network.

Eureka Entertainment and Astar Network Collaborate for "CoinMusme" Blockchain Game Development

Eureka Entertainment Ltd., led by CEO Takuya Tsuji, has officially declared a collaboration with Stake Technologies Pte. Ltd., under the leadership of CEO Sota Watanabe. The partnership aims to further the development of the blockchain game “CoinMusme.” A significant highlight of this collaboration is the introduction of a new character, “Astar.”

To commemorate the introduction of “Astar,” a special event is in the pipeline. Eureka Entertainment is set to distribute 100 exclusive NFTs to a select group of fortunate users. Those interested in participating in the giveaway need to follow both the Astar Network and Coinmusme_En Twitter accounts. Additionally, liking and retweeting the giveaway tweet from the Coinmusme_En account is essential for eligibility. For comprehensive details on the giveaway, potential participants are directed to the Musme Twitter account.

A Closer Look at Astar Network

Astar stands out as Japan’s premier smart contract blockchain. It supports both EVM and WebAssembly (Wasm) environments and ensures seamless interoperability between the two through its Cross-Virtual Machine. With the robust security infrastructure of Polkadot backing it, Astar has emerged as a beacon in the blockchain sector. The platform has been pivotal in driving corporate adoption on an international scale and fueling consumer interest in web3 technologies.

A unique feature of Astar is its developer incentives program. This initiative not only fosters network growth but also rewards the community and developers. It offers incentives to developers for creating and sustaining decentralized applications. Concurrently, users are rewarded for endorsing their preferred projects, thereby promoting the holistic growth of the ecosystem.

Insight into Stake Technologies

Stake Technologies Pte. Ltd. is at the forefront of developing the hub blockchain ‘Astar Network/Shiden Network’ tailored for the Polkadot/Kusama mainnets. The platform encompasses features like EVM, Layer2 solutions, and bridges to diverse chains. With a fund of approximately 3.3 billion yen, the company extends both financial and technical assistance to projects and entities that contribute to the ‘Astar Network/Shiden Network.’

CoinMusme’s Expanding Horizons

While the introduction of “Astar” is a significant milestone, CoinMusme’s vision doesn’t stop there. The platform is actively seeking collaborations with various cryptocurrencies and NFT projects. Their commitment is evident in their endeavor to unveil more distinctive characters in the foreseeable future. Projects keen on exploring partnership opportunities with CoinMusme are encouraged to reach out.

About CoinMusme

Developed by Eureka Entertainment, CoinMusme is a blockchain game poised to set a benchmark in the “Play to Earn” domain. Slated for launch by the end of the current year, the game will showcase idol characters that draw inspiration from cryptocurrencies.

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