About Astar and Shiden Tokens
Astar Token is the utility token for Astar Network that has 3 primary functions.
- dApp Staking
- Transactions
- On-chain Governance
dApp Staking
Astar Network's core team has developed a unique concept called dApp Staking, which is exclusively available on Astar within the Polkadot ecosystem. The goal of Astar Network is to establish itself as the primary hub for decentralized applications (dApps) on Polkadot. Hence, we prepared incentives for dApp developers who choose to build their smart contracts on Astar Network.
dApp Staking is a simple but effective mechanism. Astar Network's innovative approach allows Astar token holders to show their support for their preferred dApps by staking Astar tokens. By doing so, they not only contribute to the ecosystem's growth but also earn Astar tokens through block rewards. Additionally, dApp developers can receive rewards based on the amount staked on their applications. As part of Astar Network's commitment to sustainability and decentralization, developers can earn Astar tokens by creating smart contracts or infrastructure for the Astar Network community, making it a robust and decentralized grant mechanism.
Transactions
Every on-chain transaction requires the sender to pay fees. Part of the fee is burned and part is deposited to the collator.
On-chain Governance
At Astar Network, we believe in the power of decentralized decision-making. That's why we're committed to implementing on-chain governance, where every member of the community has a say in shaping the network's future. The Astar token plays a crucial role in this process, serving as the primary means for facilitating governance activities such as voting and referenda.