Astar Network Announces $100 Million Fund for Liquidity Support for Projects on Polkadot

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2022-02-15 23:36:22

Astar Network, a distributed or parallel chain of the Polkadot network, has announced a $100 million Astar Boost Program fund to provide liquidity and provide financial support and incentive programs to developers. smart contract. The company says that the program is funded through $22 million in fundraising, as well as a native ASTR token allocation.

Last month, Astar raised $22 million in strategic funding from crypto venture capital firms Polychain and Alameda Research.

Polkadot, a framework for connecting different blockchains, does not support smart contracts on its main relay chain. Astar provides that support to smart contract developers.

Astar also allows developers to earn tokens for building smart contracts or infrastructure, powered by the #Build2Earn protocol and paid in ASTR.

The Astar Boost Program has supported liquidity and incentives for decentralized finance (DeFi) applications on the protocol, including decentralized exchanges ArthSwap, PolkaEx, and Celer cBridge, an asset bridge omnidirectional.

“Astar Network will support projects that are financially committed to Astar through the Astar Boost Program as well as dApp Staking, our initial incentive system for developers. We expect to develop rapidly together. Through this program, our community will be further rewarded for their on-chain activity,” shared Sota Watanabe, founder of Astar Network.



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