dApp Staking Astar / What is Astar Network? ASTR Token / About Polkadot DApp Hub
Table of Contents
dApp Staking Astar Since winning the Parachain Auction in January 2022, Astar Network has become the top parachain in the Polkadot ecosystem in the transfer of Total Value Locked and most Ethereum assets. The Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major Layer 1 blockchains.
Due to the distributed consensus mechanism, the blockchain is not extended by design. TPS (Transaction Per Second) is much smaller than a centralized database and has an upper limit on the amount of data that can be stored in every block. Therefore, users across the network may find that transactions are unconfirmed or pending for long periods of time, degrading the user experience.
Astar Network’s scalability addresses the following topics:
・Number of transactions per second (TPS)
・Cheaper transaction costs
There are many different blockchains, but few are functionally interoperable. Transferring “value” from Bitcoin to Ethereum requires a centralized exchange. Polkadot is a shard protocol that allows blockchain networks to work together seamlessly.
Astar Network is compatible with Polkadot.
This section describes how to integrate the Astar network into the Polkadot ecosystem. Astar Network aims to be the first scalable smart contract Polkadot Parachain.
Polkadot relay chains do not support smart contracts. Astar creates this feature and makes it easily scalable. Developers are free to build a variety of dApps that they know can be easily scaled up.
Scalability is the biggest challenge for all blockchains. Higher performance is required for widespread adoption of blockchain technology. Scalability is an important issue that Astar Network is trying to optimize.
Two types of scalability
・Layer 1 (horizontal) scalability: Do more with the Layer 1 blockchain. (Example: Sharding and Segwit)
・Layer 2 (vertical) scalability: less for layer 1 and more for layer 2 or off-chain. (Example: plasma and state channel)
Polkadot uses sharding technology for improved scalability. Astar also has a built-in layer 2 vertical feature. Layer 1 and Layer 2 provide different but complementary solutions.
Other benefits of the Astar network architecture include:
・Flexible dApps development
・Significantly lower transaction (gas) cost
Combining smart contract functionality with a Layer 2 architecture enables many interesting dApps on the Astar Network. (Example: game, IoT, Payment,DEX,Bridge)
There is a fee for all on-chain transactions.
ASTR tokens are used to promote governance activities such as voting and referendums.
ASTR token owners can bet ASTR tokens not only on the network but also on dApps. By doing so, the staker can earn ASTR tokens.
Layer2 application developers make a deposit on the layer1 smart contract to create a layer2 application.
Here, we will introduce dApps that can be stakes with Astar.
A-DAO is based on Astar Network’s dApp staking. Users receive a portion of the developer’s rewards while participating and earning basic rewards. Currently, A-DAO divides developer rewards as follows: Revenue rewards, on-chain treasury, incubation funds. These rewards can be adjusted by DAO governance.
60% of the developer’s revenue will be distributed to all users participating in Astar’s staking. This is because A-DAO itself was created to allow everyone to earn more.
30% of the developer’s revenue goes to finance on the chain. It is first used to invest in Astar’s ecological projects, including but not limited to project investment, liquidity mining, etc.
10% of the initial developer revenue will be allocated to the project side.
Astar Farm is a decentralized finance project where you can get paid just by betting a certain amount of ASTR. Deposit ASTR to get seeds and grow crops.
HOW IT WORKS
1 Stake ASTR and plant seeds
First, select an empty field from the farm page and stake the ASTR. The more ASTR you bet, the more seeds you will plant. Also, the longer the lock period, the higher the APY.
2 Grow crops
The crop grows according to the specified lock period. There are three types of crops that can be harvested, depending on the locking period. Only one type of crop can be harvested in a field, and the yield for each species is random from 1 to 5. Also, all crops can be eaten by insects in each field.
3 Harvest the crop
At the end of the lock period, harvest the crop. Examine the fields to see how many crops have been harvested and move them to the warehouse. You can re-pile the ASTR from the post-harvest field and choose to plant seeds or remove the pile.
4 Sell in the market
The crops in the warehouse can be sold in the market. The selling price depends on the type of crop.
— 渡辺創太 Astar Network (@Sota_Web3) July 21, 2022
ASTAR FARM will collaborate with Calbee and Hakuhodo and harvest a virtual potatoes to start a campaign in which Calbee’s real potato product arrives.
In the future, it will continue to focus on collaborating with large companies that Japan will be on the next stage on the next stage of Japan WEB3.
Hakuhodo will support company sales promotion using the next -generation Internet “Web3”. First, a game using a blockchain (distributed ledger) will promote sales of Calbee products. Overseas companies are ahead of web 3 related businesses. Hakuhodo is aiming to provide support services and quickly incorporate demand for advertising.
Astar Network is one of the parachains that has received particular attention in the Polkadot ecosystem as a Polkadot smart contract Hub. The Astar Network has a token ASTR that can be used with various dApps such as ArthSwap(DeFi,DEX) and AstarFarm. But, the Astar Network is Polkadot’s parachain, and Astar’s most important token is Dot. However, there seems to be a desire to have ASTR invest in order to attract investment to Astar. Polkadot’s key parachain, Astar, is a Web3 project that is expected to grow further with ASTR, called the Liquidity Token.
Astar Network : https://astar.network/
DEX On Astar Network : ArthSwap : https://app.arthswap.org/#/swap
DeFi Hub of PolkaDot Acala : https://acala.network/