Astar Network dApp Staking
Astar Network announced the launch of dApp staking on Astar.
For developers to build great dApps, they need financial incentives. That’s where dApp staking comes in.
On the Astar and Shiden Network, dApp staking is how developers who build dApps can get compensated. By having a basic income, developers can keep building and improving their dApps.
At its core, dApp staking is similar to staking on validators, but in this new paradigm, dApp stakers — also known as nominators–can nominate their Astar/Shiden tokens on dApps they want to support.
Benefits of dApp Staking
There are three primary benefits to staking Astar/Shiden tokens on dApps
Web3 Developers Can Earn An Income
The first is that it enables developers to earn a basic income from the rewards that are generated from the staked tokens. By having an income, developers can support themselves as they improve their dApps and this, in turn, attracts more smart contract developers to the ecosystem.
Nominators Can Earn Staking Rewards
The second benefit is that dApp stakers–also called nominators–are able to also earn staking rewards and earn high APIs for their staked tokens while supporting Astar dApps. Having nominators staking on dApps gives more stability to the ecosystem.
Less Tokens Circulating Means Higher Price
The third benefit is that the more tokens are staked, the fewer tokens are in circulation, which puts upward pressure on the token price since there is less supply. For those who are looking to invest in Astar, this is undoubtedly an important factor.
About Astar
Astar Network is the #1 TVL Smart Contract Hub for WASM + EVM on Polkadot. Since winning its Parachain auction in January 2022, Astar Network has become the top Parachain in the Polkadot ecosystem in Total Value Locked and most Ethereum assets transferred over. Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major layer 1 blockchains. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM — and offers the best technology solutions and financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers to build on top of a secure, scalable, and interoperable blockchain.
📰 INFO
