Astar Network will Burn 350 Million ASTR Tokens!

Astar Network, a multi-chain smart contract network, plans to burn 350 million ASTR tokens, corresponding to 5% of its total supply, after community voting. These token burns were previously reserved for Polkadot's now-defunct parachain auctions. Here are the details…

70 Million Token Transfer to Community Treasury

As a result of the governance vote, 350 million tokens will be burned and the 70 million ASTR obtained through this transaction will be transferred to the community treasury.

Astar Network agreed with Polygon in March to integrate the AggLayer of the layer 1 blockchain. The product is designed to connect various blockchains and provide unified liquidity using zero-knowledge proofs.