Key Points:
This bold step is aimed at adapting to the forthcoming Agile Coretime upgrade of the Polkadot network, which will gradually phase out the crowd-lending concept.
The proposal outlines a strategic reduction in the total supply of staked tokens, which is anticipated to increase staker rewards and provide substantial benefits to ASTR holders. By decreasing the available supply, the Astar Foundation aims to create a more rewarding environment for those staking their tokens, enhancing the overall value proposition of holding ASTR.
Read more: Bitcoin Spot ETF vs Futures ETF: Differences To Make The Right Investment Choice
Astar Foundation has proposed transferring 74 million ASTR (valued at about $6.5 million) generated through dApp Staking to the on-chain treasury. These funds are earmarked to support future development projects, ensuring the continued growth and innovation within the Astar ecosystem.
This proposal marks a pivotal moment for Astar Network as it navigates the evolving landscape of the Polkadot ecosystem. The potential destruction of 350 million ASTR tokens signifies a strategic effort to enhance the network’s value and ensure its long-term success. Community members are encouraged to participate actively in the discussion and voting process to shape the future of Astar Network.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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