Last call for starting Astar Crowdloan Event — Part III
We are now in the final stretch towards becoming the first parachain on Polkadot!
Read our previous articles for the Astar Crowdloan Event here:
How to participate in our Crowdloan Event
During the Crowdcast we explained in detail about the Astar Crowdloan Event. Alex (CEO Equilibrium) and Yubo (founder of Parallel Fi) also joined the crowdcast and explained how people can join our crowdloan from their platforms.
How to use our Crowdloan page:
- Visit our Crowdloan page.
- Allow our page to use your Polkadot JS extension.
- Choose your correct wallet and amount you want to stake in the Astar Crowdloan Event.
- If you want to use the referral, paste the wallet address in the correct field of the referral, and you will get a 1% bonus for using the referral.
- Click ‘Stake Now’.
Exchanges that are ready to join the Astar Crowdloan Event
More exchanges will be added when Crowdloan Event starts!
NOTE: If you want to join the Crowdloan through exchanges, make sure you read their ‘Terms and conditions’ because some offer different bonus structures.
Fearless, Talisman, Math, and Nova
You can find detailed instructions on their website on how to join the Astar Crowdloan Event! Because you can import your own wallet, you can apply to all our bonuses.
Astar goes for the maximum lease slot of 96 weeks (around 2 years). All DOT’s collected in the Astar Crowdloan event will be locked for 2 years. ASTR tokens received by joining the Astar Crowdloan Event will be held under vesting conditions.
- Crowdloan participants: those who obtained ASTR (incl bonus) through the Astar Crowdloan event will have linear vesting of 22 months. Vesting starts after enabling token transactions.
- 10% of your tokens will be made transferable when transactions are enabled. Tokens that are still locked or under vesting can be used in dApp Staking or CrowdStaking. (Good News!)
Astar token launch strategy
We have learned a lot from Shiden Network, our canary network for Kusama Network. One of the great things is that SDN token price was discovered and we can use this insight for Astar’s launch.
After constructive discussions with the team and our ambassadors, we decide to set the initial total supply at 7B.
Since we have set our Shiden’s initial supply as 70M, we understand that this may confuse our community, but we decided to execute this for the long-term benefit in terms of market creation.
To emphasize, our token holders don’t dilute any values and % of the token they own. Rather, it is something that will benefit all of us in the long run. If you own X% of the network today, we will own exactly the same % you will own.
We discussed carefully whether we do or don’t, and also before or after the crowdloan with considering the side effects of this change. Now, we are confident that this is the best choice for the community in the long run.
Thank you for understanding. Let’s win the auction together.
Q. Do I need to do anything?
A. There is nothing you need to do as a user. Everything will be done in the genesis file of Astar. Meaning the redenomination will be done at block 0.
Q. I got 100 PLM tokens from Plasm lockdrop. How many ASTR tokens can I get?
A. You will have 10 ASTR. Again, this doesn’t mean you lost any value at all. If you have X% of the network today, we will own exactly the same % you will own. For example, the total supply is 20 tokens and you own 10 tokens. You own 50% of the network. Now, the total supply becomes 2 tokens and you own 1 token. You own exactly the same % and the same value in the network.
Q. Does SDN redenominate too?
A. No. No change for SDN tokens.
Q. What about the referral bonus during the Astar Crowdloan Event?
A. Instead of the 0.1 ASTR for each DOT your friend contributes, this will change to 10 ASTR for each DOT!
Astar Network (previously known as Plasm) is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines. Polkadot Relay Chain doesn’t support smart contracts, that’s why it’s important for the ecosystem to have a parachain that enables this for all developers who want to build in the Polkadot ecosystem. Astar is here to provide the best solution for all developers by not only supporting EVM but making a parachain where EVM and WASM smart contracts can co-exist and communicate with each other. Astar is also ready to answer the need for scalability by providing layer 2 solutions.
Astar received 7 Web3 grants in the Polkadot ecosystem. Astar believes that we and all other projects in the Polkadot ecosystem are building the future of Web3.0 infrastructure.
Last call for starting Astar Crowdloan Event — Part III was originally published in Astar Network (Previously Plasm) on Medium, where people are continuing the conversation by highlighting and responding to this story.