About Astar and Shiden Tokens
Astar Token is the utility token for Astar Network that has 3 primary functions.
- dApp Staking
- On-chain Governance
DApps Staking is an original scheme that Astar Network core team invented and only the Astar ecosystem supports this feature in the Polkadot ecosystem. Astar Network aims to be the leading dApps hub on Polkadot Network. Hence, we prepared incentives for dApps developers to make smart contracts on Astar Network.
dApps Staking is a simple but strong mechanism. Astar token holders can stake Astar tokens on dApps they like and want to support. By doing so, the staker earns Astar tokens from block rewards. In addition to that, dApps developers get rewards based on the amount staked on them. In general, application developers on Astar Network receive Astar tokens by making smart contracts or infrastructure for Astar Network community. We intend to make it a sustainable and decentralized grant mechanism.
Every on-chain transaction requires the sender to pay fees. Part of the fee is burned and part is deposited to the collator.
We plan to make on-chain governance and Astar token is used for facilitating the governance activities such as voting and referenda.