Shibuya is the Shiden’s parachain testnet with EVM functionalities which is the closest to the Shiden mainnet. Shibuya has almost the exact chain specifications as Shiden and creates the best test environment for developers who want to launch their dApp on Shiden mainnet.
Yesterday, October 5th, we launched dApp staking to Shibuya for the community to test and projects to see the huge potential for building in the Astar ecosystem. Help to test, spread the news, and educate the community and earn some Shiden tokens! More information is available in one of our community rewards challenges — click here.
dApp staking is coming to Shibuya
dApp staking is one of our unique features to help developers built in our ecosystem and allows us to differentiate ourselves from our competitors.
NOTE: This is still our MVP version. Meaning, more updates, and features will be added in the future. Subscribe to our newsletter to receive updates regarding this development. In case you encounter any problems feel free to create an issue here:
How it works
Instead of staking to validators, users can choose to nominate their tokens to these operators. These users are also known as nominators.
At every block, half of your block rewards are used for dApps staking. This reward is further divided between developers and nominators (see infographic).
40% of block rewards is a huge incentive for dApp developers to build in the Astar ecosystem. In other blockchains like Ethereum, dApp developers need to apply for grant programs, issuance of tokens, fundraising, etc. to earn some money. In the Astar ecosystem, as long as your dApp has been nominated, you will receive some basic income. As your dApp grows in popularity, more members of the community will nominate you and this means that you will receive a greater percentage of the block reward!
We must also not forget the nominators. 10% block reward is quite substantial and can serve as an alternative to staking to validators or lending on other DeFi platforms.
How to use dApp staking
Make sure you are connected to Shibuya in our portal.
If you already hold Shiden from during the Plasm lockdrop you will have Shibuya, testnet tokens, already in your wallet. When you don’t have testnet tokens you can go to our #faucet channel on Discord and let the bot send you some SBY tokens. Don’t know how to use the faucet bot? Visit our documentation: here. Now let’s stake those tokens!
NOTE: the projects on Shibuya are created by us or projects that want to test dApp staking. Only whitelisted projects can join stress test and first batch on Shiden.
The next step is to visit the dApp store and select your favorite project in the Shibuya ecosystem:
You will now find a list of projects. Stake your SBY tokens on your favorite projects and earn staking rewards!
Press ‘Stake’, select your wallet and your stake amount.
As you can see now in the image above, the 100 SBY are now staked on the dApp. You can add more funds, unstake and claim your rewards from the dApp store. Your staked tokens are now locked on-chain:
When you click on Claim, information will pop-up with your total amount earned and the total amount the project has earned with dApp staking.
Happy dApp staking! #build2earn
Astar Network (previously known as Plasm) 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. Shiden Network is a sister network of Astar Network and a dApp hub on Kusama.