Astar Completes 350 Million Token Burn After a community vote, Astr destroyed 350 million ASTR tokens (5% of the total supply). The token burn and additional 70 million ASTR staking support community initiatives. ASTR rose 3% to $0.06574 with a market cap of $404.7 million.

After the token burn, the price of ASTR is $0.06574, the circulating supply of ASTR is 6.1 billion, and the network currently has a market cap of $404.7 million. In addition, ASTR's open interest surged 6.47% and is currently valued at $6.1 million.

This strategic move sets a good precedent for future initiatives in the Astr ecosystem and emphasizes the importance of community participation in network development. Astar's unique dApp staking mechanism remains a key feature, supporting dApps by distributing staking rewards directly to dApp developers and stakers. Through an innovative staking model and tier system, Astar aims to ensure fair and generous rewards, driving continued growth and participation in the network.