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Weekly Update #22

Published date: October 6 2021
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Hello everyone. This is Sota, founder of Astar Network. Since I haven’t had time to publish weekly updates for a while, I would like to include some of the major updates in this article.

Announcing the $30M Astar/Shiden Ecosystem Growth Fund

Announcing the $30M Astar/Shiden Ecosystem Growth Fund

We have launched the $30M Astar/Shiden Ecosystem Growth Fund and we have already accepted some great proposals from the community like

Microsoft Japan announces support in building Astar&Shiden ecosystem

Microsoft Japan announces support in building Astar&Shiden ecosystem

Stake Technologies has been working with Microsoft Japan under the Microsoft for Startups program. We are pleased to announce that we will collaborate with Microsoft Japan to provide a wide range of marketing and infrastructure support to ecosystem projects and developers on Astar Network/Shiden Network.

Announcing Astar v2.0: Multi-chain dApp Hub.

Announcing Astar v2.0: Multi-chain dApp Hub.

Astar Network is a multi-chain dApp hub supporting Ethereum Virtual Machine, WebAssembly, and multiple layer1 blockchains. Polkadot Relaychain doesn’t support smart contracts by design, so dApp developers in the Polkadot ecosystem need a smart contract parachain. In addition to that, Astar supports multiple L1 blockchains. Having those features available makes a difference in the ecosystem.

DApp Staking is finally LIVE on testnet

dApp staking stress test on Shibuya

DApp Staking is the most important feature Shiden and Astar have in the Polkadot ecosystem.

DApp Staking is the reason why we will win. Astar natively supports financial incentives for developers to make dApps and build infrastructure. (Basic income for all developers aka dApp Staking). In summary, devs can earn Astar tokens by making products, which is based on their performance and decentralized governance.

Our token holders can stake tokens on dApps and infrastructure. (e.g. stake $ASTR on Uniswap)

Based on nominations and on-chain data, block rewards will be distributed to developers.

We built an incentive for devs to make dApps and build infrastructure on Astar. 40% of block rewards go to developers. If the valuation of Astar is $1B, $40M worth of Astar tokens will be distributed to developers each year!!

We built an incentive for devs to join our ecosystem as early as possible. The earlier they join the ecosystem, the quicker they can win market share and receive higher rewards from protocol.

We’re preparing for a network effect. The more dApps that are created, the more tokens will be locked on Astar. This creates a positive feedback loop on the price of $ASTR. The higher the price, the more money you can distribute to developers. Therefore, we can incentivize more developers, thus there will be more dApps, then the price of $ASTR grows, etc.

And now it is live on our testnet 

Astar Portal

Other Updates

About Astar Network/Shiden Network

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.

Feel free to reach out to us!

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Weekly Update #22 was originally published in Astar Network (Previously Plasm) on Medium, where people are continuing the conversation by highlighting and responding to this story.