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Astar Network, the parachain that was worth 1 Billion!

Astar Network, the parachain that was worth 1 Billion!

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How do Web3 and NFTs enrich the live music experience?

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SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

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The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

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    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    BlockFi files for bankruptcy after FTX collapse

    BlockFi files for bankruptcy after FTX collapse

    Solana’s Phantom wallet opens to Ethereum and Polygon

    Solana’s Phantom wallet opens to Ethereum and Polygon

    Vladimir Putin predicts a blockchain-based international payment system

    Vladimir Putin predicts a blockchain-based international payment system

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    How do Web3 and NFTs enrich the live music experience?

    How do Web3 and NFTs enrich the live music experience?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    What is flipping in crypto?

    What is flipping in crypto?

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

  • DEFI
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    Paxos offers $1.5 billion deal to MakerDAO for DAI collateralization

    BlackRock predicts an unprecedented recession in 2023

    BlackRock predicts an unprecedented recession in 2023

    Free crypto / referral codes

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    This (other) billionaire, who prefers Dogecoin to Bitcoin

    Google and the king of crypto oracles Chainlink (LINK) unveil their joint project

    Google and the king of crypto oracles Chainlink (LINK) unveil their joint project

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    The Bitcoin (BTC) hashrate is on the rise again

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    Burger King accepts Dogecoin (DOGE) in Brazil… for dog food

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    791 bitcoins bought for $5 9 years ago have finally come to life

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    Binance: the rise of the BUSD impresses

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    How do Web3 and NFTs enrich the live music experience?

    Is Apple planning to release a movie about Sam Bankman-Fried and the FTX case?

    Is Apple planning to release a movie about Sam Bankman-Fried and the FTX case?

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    In the United States, a house in NFT has just been sold for $175,000

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    CNN is accused of rug pull by the community after its NFT project was stopped

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    Square Enix partners with Oasys to develop blockchain games

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    Solana’s Phantom wallet opens to Ethereum and Polygon

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    Japan sees the future in nft and metaverse

    Yuga Labs unveils its new community board in charge of the project’s evolution

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    Buy a Ledger wallet on Amazon – Is it really secure?

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    FOMO, the crypto investor’s worst enemy – 10 Rules to fight it

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Astar Network, the parachain that was worth 1 Billion!

April 2, 2022
in Polkadot
Astar Network, the parachain that was worth 1 Billion!

Polkadot is a project theorized in 2016, whose mainnet was deployed in May 2020. Its goal is to ensure better interoperability of blockchains. To do this, Polkadot presents itself as a layer 0 blockchain, which serves other parallel blockchains called parachains. Since their launch, DeFi-oriented parachains have continued to evolve and now gather more than $1 billion in TVL.

Astar: Polkadot’s unicorn

Astar is one of the parachains in the Polkadot ecosystem. This one was deployed in January 2022 after winning the auction conducted by Polkadot to distribute the parachain slots.

In practice, Astar is a smart contract blockchain supporting multiple virtual machines. Thus, Astar supports both the native environment of Polkadot with WASM and that of Ethereum by implementing the EVM.

Moreover, Astar also presents a multichain dimension by being interconnected to Cosmos and BNB Smart Chain networks.

Earlier this week, the project passed a major milestone in its growth by reaching $1 billion in TVL. As a result, over $1 billion has been deposited across the various decentralized applications hosted on the Astar network.

In practice, this makes Astar the most active blockchain in the Polkadot ecosystem. Thus, this one gathers about 45% of the TVL of the entire Polkadot network.

There are two main projects behind Astar’s success:

  • Arthswap, a DeFi protocol with a decentralized exchange and lending pools;
  • Starlay Finance, a fork of the Aave protocol offering a lending service.

Astar unveils the Build To Earn

Obviously, Astar does not intend to stop there. Thus, the project has announced the launch of a program called Build2Earn, which is innovative to say the least.

In fact, this program aims to encourage developers to build new platforms on the Astar blockchain. To do this, Astar is offering a base income to developers who have staked tokens for the development of their application.

“To incentivize developers to join the Astar Network, we are implementing a Build2Earn program, where smart contract developers can receive a base income from Astar tokens that have been staked for the digital applications they create.”

Astar Network announcement

As a result, developers of decentralized applications can get a grant without having to go through traditional funding schemes involving venture capitalists.

At the same time, Polkadot’s other ventures are also gaining traction. For example, the Acala project recently announced the opening of a $250 million fund to finance the development of DApps using its stablecoin.

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