- 350M ASTAR tokens had been earmarked for burning, getting rid of 5% of the token’s overall provide.
- The tokens have been in the beginning meant for the Polkadot parachain program, which has been discontinued.
Following a a hit governance vote, the blockchain community will burn 350 million ASTAR tokens for use for the Polkadot parachain program that allowed initiatives to glue the Polkdot’s relay chain.
The allocation has yielded 70 million extra ASTAR tokens, which might be added to the treasury whilst the preliminary tokens might be burned.
The multi-chain community recorded a better buying and selling quantity following the announcement as its token worth rose 7% however has since pared some good points.
Astar just lately introduced a zkEVM chain that integrates with Polygon’s Agglayer generation, permitting it to ship belongings seamlessly throughout different chains in Polygon’s rising community of interconnected layer 2 chains.