Popular Altcoin, Astar (ASTR), Sets Date For Update To Reduce Token Inflation
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Popular Altcoin, Astar (ASTR), Sets Date For Update To Reduce Token Inflation

  • According to the statement made by the altcoin founder, Watanabe, the new Astar (ASTR) update will reduce the token’s inflation rate and also increase the burn rate.

Astar (ASTR) founder, Sota Watanabe, recently announced that the company will be implementing the second version of its token economy next week. 

This update will reduce inflation by almost half and increase the burn rate.

“dApp staking v3 is coming next week. This means that the second version of tokenomics will also be deployed soon. We will almost halve inflation and increase the burn rate,” Watanabe said.

According to the statement, Astar’s Tokenomics 2.0 version will offer a sustainable token allocation structure and network fees, as well as a lower inflation rate.

According to the statement on the official website, Astar’s unique mechanism, dApp Staking, financially incentivizes cryptocurrency developers and establishes a strong relationship between developers, stakers and dApp users.

See Also: Optimism To Halt ETH Withdrawals For Testing Upgraded Incident Response System

While developers earn rewards for developing their projects and attracting backers, stakers also earn by supporting their favorite dApps.

While the core mechanism of dApp Staking remains the same with the update, the new version will bring several improvements to address challenges and flaws uncovered internally and by the community in the initial protocol design:

Scalable Rewards: Recognizing the limit of how many dApps can be hosted due to limited rewards, the goal is to create a system that increases the number of dApps supported as the value of the network increases.

Limit on Rewards: Each dApp will have a maximum limit on the rewards it can earn to ensure fair distribution.

Support for Newly Launched dApps: New dApps joining the staking protocol will not have to immediately compete with the most popular ones for significant rewards, but healthy competition will still be encouraged. 

For this purpose, a tier-based reward distribution system will be introduced.

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