Astar Parachain Auction Strategy
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Parachain Slot Auctions

Parachains connect to Polkadot by leasing a slot on the Relay Chain for up to 96 weeks at a time, with the option to renew. Parachain slots are assigned by an on-chain auction, with auction winners locking up a bond in DOT for the duration of the lease. Auctions and crowdloans raise the bar for blockchain projects, incentivizing them to demonstrate their technology and gain community support prior to launch.

Parachain tokenomics

The total amount for the first parachain auction is 20% of the total supply. (= 1,400,000,000 ASTR)
20% is divided in:
  • Crowdloan + auctions = 15% or 1,050,000,000 ASTR
  • Bonus pool = 5% or 350,000,000 ASTR
To bid in an auction, Astar agrees to lock up (or bond) DOT tokens for the duration of the lease. While bonded for a lease, the DOT cannot be used for other activities like staking or transfers. DOT tokens will be collected through crowdloan.
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 will be held under vesting conditions.
ASTR vesting
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% will be made transferable when transactions are enabled.
Tokens who are still locked or under vesting can be used in dApp Staking or future CrowdStaking.

Reward scheme

Astar will change the strategy for the Polkadot auctions. One of the biggest reasons for changing was that the Kusama strategy was very hard for users to understand. The bonus rate wasn’t easy to calculate and missed users joining our crowdloan. We changed the strategy for the Astar Crowdloan Event and use a fixed amount for each DOT invested.
Everyone will receive the same minimum amount of ASTR for each DOT!
Everyone will receive the same minimum amount of ASTR for each DOT! This ratio is based on the amount raised during the Astar Crowdloan Event. Basically, we will distribute a total of 15% of our initial supply to Astar Crowdloan participants based on your DOT contribution.
The minimum amount to join the Astar Crowdloan Event is 5 DOT. A minimum contribution amount is necessary to prevent spam and to facilitate the smooth operation of the crowdloan mechanism.
Last modified 26d ago