Burn

Astar

Foundation

Astar Foundation, the lead organization for Astar Network development, has announced a <a href="https://optimisus.com/news/crypto-news/shiba-inu-shib-price-jumps-amid-token-burning-slowdown-and-shibarium-testnet-surge/" rel="noopener noreferrer nofollow">token burn</a>, which will permanently remove 5% of the ASTR genesis allocation, comprising 350M ASTR tokens.  
The <a href="https://optimisus.com/news/pepes-price-dropped-7-5-as-a-major-whale-sold-1-4-trillion-tokens-for-ethereum/" rel="noopener noreferrer nofollow">tokens</a> were originally set aside as a parachain auction reserve, but are no longer required due to upgrades to Polkadot. The Astar Foundation's proposal was ratified after a governance vote, and the 350M ASTR reserve was used during the first phase of Astar dApp Staking, generating 70M in ASTR rewards. These rewards will now be transferred to the on-chain Community Treasury to support future community-focused initiatives.  
The removal of 350M ASTR from circulation will benefit the Astar community by decreasing the total supply of staked tokens and increasing staking rewards available to other users.  
According to the team, this token burn is part of Astar Foundation's larger plan to revamp ASTR's tokenomics and drive greater value for the Astar community. Astar's unique dApp staking v3 feature allows builders and communities to benefit from a stable reward system for their dApps and projects.  
The staking mechanism supports decentralized applications by distributing staking rewards directly to developers and stakers, ensuring fair and substantial rewards, driving continuous growth and engagement within the network. 
The post <a href="https://optimisus.com/news/crypto-news/astar-foundation-to-burn-350m-astr-tokens/" rel="noopener noreferrer nofollow">Astar Foundation to Burn 350M ASTR Tokens</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Astar Foundation to Burn 350M ASTR Tokens

Optimisus

Ďalšie články zverejnené 3. 7. 2024

Crypto: Solana ETF Requests Fall Short of Expectations

Riot Anticipates 31 EH/s Hash Rate by End of 2024 with New Miner Deployments

Gamestop (GME) Price Sinks 18% In A Day After Lawsuit Dismissed; Will It Recover?

The SEC's Crackdown on Binance: What It Means for the Future of Crypto Regulation

Early Oil King Pepe Memecoin Buyer Makes Explosive 6,000% Profit, But Holds For Another 20,000% R...

Binance Coin Price Prediction: Time to Buy the Dip as Prices Teeter Near Support Levels?

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!