Polkadot has revolutionized the blockchain space with its unique parachain architecture. Unlike traditional blockchains that operate in isolation, Polkadot connects multiple blockchains through parachains, enabling seamless communication and scalability. This article explores how projects like Acala, Astar, and Moonbeam are leveraging parachains to drive innovation and scalability in the Polkadot ecosystem.

What Are Parachains?

Parachains are independent blockchains that run parallel to the Polkadot Relay Chain, benefiting from shared security, interoperability, and scalability. These specialized chains can be customized for various use cases while still interacting with other parachains and the broader Polkadot network.

Acala: Powering DeFi on Polkadot

Acala is a decentralized finance (DeFi) hub that utilizes its parachain to provide scalable and interoperable financial services. Key features include:

• Acala Dollar (aUSD): A stablecoin designed for multi-chain use.
• Liquid Staking: Users can stake DOT and receive liquid staking derivatives.
• EVM Compatibility: Acala supports Ethereum-based applications, attracting developers to build DeFi solutions on Polkadot.

With its parachain, Acala ensures low transaction fees, high security, and seamless cross-chain compatibility.

Astar: The Smart Contract Hub

Astar is a multi-chain smart contract platform designed for Web3 applications. It supports both Ethereum Virtual Machine (EVM) and WebAssembly (WASM) smart contracts, making it a flexible choice for developers. Key benefits include:

• Cross-chain Compatibility: Astar connects with Ethereum, Polkadot, and other blockchains.
• DApp Staking: Developers earn incentives based on the adoption of their applications.
• Scalability: By leveraging Polkadot’s parachain infrastructure, Astar ensures high performance and low latency.

Moonbeam: Bridging Ethereum and Polkadot

Moonbeam is designed to provide Ethereum compatibility within the Polkadot ecosystem, enabling developers to deploy existing Ethereum-based smart contracts with minimal modifications. Features include:

• Full EVM Compatibility: Developers can use Solidity smart contracts without changes.
• Seamless Cross-chain Integration: Moonbeam facilitates easy communication between Ethereum and Polkadot.
• Decentralized Governance: The platform is community-driven, ensuring fair and transparent decision-making.

The Future of Parachains in Polkadot

Parachains are unlocking new possibilities in the blockchain space, offering enhanced scalability, interoperability, and efficiency. As more projects launch on Polkadot, the ecosystem will continue to grow, bringing increased adoption and innovation.

Conclusion

Acala, Astar, and Moonbeam exemplify how parachains are transforming the Polkadot ecosystem. By leveraging Polkadot’s unique architecture, these projects are driving scalability and innovation, positioning Polkadot as a leading blockchain network. As parachains continue to evolve, they will play a crucial role in shaping the future of decentralized applications and blockchain technology.

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Astar is flourishing in a vibrant ecosystem, leading the way in international corporate acceptance and consumer enthusiasm for Web3 technologies. The recent introduction of the Astar zkEVM mainnet, created in partnership with Polygon Labs, is expanding its cross-chain functionalities and addressing adoption and scalability hurdles. Additionally, Astar zkEVM stands out as the initial chain to incorporate Polygon AggLayer.

Alchemy Pay’s On-Ramp offers broad compatibility with different cryptocurrencies, allowing smooth fiat-based transactions. Operating in 173 countries worldwide, Alchemy Pay guarantees widespread access to purchasing cryptocurrencies through a variety of payment methods. These methods range from traditional choices like Visa and Mastercard to modern options such as Apple Pay and Google Pay, as well as localized mobile wallets and domestic transfers. By utilizing a network of more than 300 local payment channels, Alchemy Pay expands beyond standard credit cards, granting users access to local mobile wallets for a seamless checkout process.

Moreover, Alchemy Pay actively pursues and secures licenses for payment and financial services to better serve users in various countries and regions. This proactive strategy enhances regulatory compliance and security measures. In March, Alchemy Pay acquired its third Money Transmitter License in the United States, complementing its existing five regulatory licenses encompassing Canada, Europe, Indonesia, and the United States. Furthermore, Alchemy Pay has received recognition from industry giants Visa and Mastercard, reinforcing its position as an accredited third-party payment service provider.

What is Astar Network

Astar Network facilitates projects in enterprises, entertainment, and gaming in Japan and globally, promoting web3 adoption with blockchain solutions. It utilizes Polygon and Polkadot technology for interoperable solutions, including zkEVM for Ethereum Layer 2 Scaling.

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Leveraging this expertise, Astar Foundation is committed to developing innovative products that will enable billions to enter web3 by working with NTT Digital and Astar technology.

NTT Digital was established by NTT DoCoMo, one of the largest Japanese telecommunications companies. It is an entity dedicated to providing a safe and accessible environment for businesses as well as individuals looking to build in web3.

This partnership will focus on the following two areas:

• Web3 Talent — Both companies recognize that talent is a crucial factor hindering mass adoption. To address the growing demand for Web3 professionals, including engineers and business leaders, Astar Foundation and NTT Digital will collaborate to support individuals considering a career in the Web3 domain. Their initiatives will include skill development programs. Offering opportunities to gain practical experience, and creating a collaborative community where web3 talent and companies can come together.
• Technical Infrastructure Enhancement — Web3 continues in a nascent stage while innovating at a rapid pace. This presents new unexplored opportunities as well as challenges. Questions around price volatility, cybersecurity, and the prevention of fraud are crucial for businesses. Astar Foundation and NTT Digital will combine their expertise to create the tools. Measures necessary to enhance security, combat fraud and create an experience that builds trust, as new users continue to enter Astar Network.

“We’re excited to partner with NTT Digital, who bring decades of experience in building tech infrastructure to drive adoption and innovation. Together, we will empower individuals and businesses to embrace the potential of Web3, enabling a more inclusive, decentralized future.”—Sota Watanabe, Founder of Astar Foundation

ABOUT Astar Foundation

The Astar Foundation is one of many entities in the Astar ecosystem. It is currently the main contributor and maintainer of the Astar Network Source Code. The Foundation deploys resources to expand Astar Network through partnerships, community activities, hiring developers, awarding grants, supporting projects, and other initiatives.

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ABOUT NTT Digital

NTT Digital, established by NTT DoCoMo. It is a global web3 enabler dedicated to creating a safe and accessible environment for individuals and businesses to leverage Web3 and blockchain technologies.

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By working together, Sentio and Astar Network can help ensure that the Dapps built on the network are performing optimally and delivering value to their users. This collaboration could potentially lead to even more innovative and scalable Web3 applications being built on Astar Network in the future.

Collaboration Details

As part of this collaboration, Sentio will provide its industry-leading observability tools to the Astar Network, allowing a dev-friendly approach to monitoring, analyzing, and diagnose of the smart contracts in the platform, starting with EVM. This will enable the Astar Network community to better gain the visibility of their applications, and identify issues more quickly, with all the context needed in one platform.

Benefits for Community

The ecosystem has long awaited a solution for easy-to-use data analytics and monitoring. By leveraging Sentio’s observability solutions, Astar Network Dapps can easily handle these. Use cases include ‘click-and-drag’ data analysis without writing complex queries, more flexibility to collect your own data, and live monitoring and alerts to secure assets.

Observability is critical for ensuring the growth and development of decentralized applications. By working together with Sentio, Astar Network is demonstrating its commitment to providing best-in-class tooling for developers and users alike. This collaboration will help drive innovation and advancement within the industry, ultimately benefiting everyone involved.

About Sentio

Sentio is an observability platform for Web3. They are pushing the limits of both time series and relational databases and using them together. To give great experiences to their users. The low code solution of Sentio generates metrics, logs, and traces from existing smart contracts data, which enables users to build dashboards, set up alerts, analyze user behaviors, create API/Webhooks, simulate/debug transactions, and more. It supports Ethereum, BSC, Polygon, Solana, and Aptos and more chains. Sentio is built by veteran engineers from Google, Linkedin, Microsoft, and TikTok. And backed by top investors like Lightspeed Venture Partners, Hashkey Capital, and Canonical Crypto.

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About Astar Network

Astar Network is a dApp hub on Polkadot that supports Ethereum Virtual Machine and WebAssembly to unlock Web3 for Web2 developers. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines. As Polkadot Relay Chain doesn’t natively support smart contracts. That’s why it’s important for the Polkadot ecosystem to have a parachain. That enables EVM support for all developers who want to build in the Polkadot ecosystem. Astar is here to provide the most accessible solution for all developers by supporting EVM. And making a parachain where EVM and WASM smart contracts can co-exist and communicate with each other.

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Astar partners with Shibuya City to support the ward’s web3 initiatives.

After landmark collaborations with leading Japanese enterprises, Astar is now partnering with the Shibuya to support the ward’s web3 initiatives. Shibuya prides itself on being the modern city of Tokyo. A hot spot for young entrepreneurs, high fashion, and miles of shopping outlets all centred around the Shibuya station.

Today is the first time a blockchain has signed an agreement with one of Tokyo’s largest, most densely populated cities. It’s a historic moment for Astar’s growth across Japan to become the blockchain backed by Japan. Over 400 developers are building the next generation of digital applications through Astar’s web3 Hackathon sponsored by Toyota. The call for teams to begin working with Astar’s Web3 Incubation Program with Sony Network Communications led to another astounding 200 applicants. Shibuya has a large group of Astar developers to support the city’s digital growth.

Entering an agreement with Astar is the quickest way for Shibuya to start using the Web3 ideas currently being developed to build the future solutions they need. This is in step with the recent moves of other cities in 2022 — Fukuoka City and Sendai City.

Astar will create new opportunities to grow web3 in Shibuya by hosting regular hackathon events and education programs. Supporting the city will be easy with Startale Labs Japan choosing to set up headquarters in Shibuya, the part of Tokyo home to many global offices, including Google.

Startale Labs Japan is a company that develops dApps and infrastructure and provides business consulting services based on its expertise in multi-chain protocol development. The company will use Astar Network as the backbone to conduct R&D and incubation activities on behalf of Shibuya city.

About Astar

Astar Network — The Future of Smart Contracts for Multichain. Supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability, with cross-consensus messaging (XCM).

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Astar Network is the 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 significant layer 1 blockchains. Furthermore, Astar Network supports dApps using multiple virtual machines — 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.

What is staking dApps?

For great dApps to be built, developers need to build them. For developers to build great dApps, they need financial incentives. That’s where dApp staking comes in.

On the Astar/Shiden Network, dApp staking is how developers who build dApps can get compensated. By having an income, developers can keep building and improving their dApps.

At its core, dApp staking is similar to staking on validators. The difference is that dApp stakers — also known as nominators — can nominate their Astar tokens on dApps they want to support.

At every block, a portion of the rewards goes to dApp staking. This reward is then divided between operators (developers) and nominators. Overall, this creates a powerful incentive for developers to build dApps on Astar and for nominators to support developers via dApp staking.

In addition,when building on other blockchains, dApp developers need to apply for grant programs, issue tokens, and fundraise to earn money. Not only that, they often need to pay steep gas fees.

On Astar, as long as a dApp has been nominated, developers can receive a basic income. Moreover, as a dApp grows in popularity, more members of the community nominate the dApp, and this, in turn, enables the developers who built the dApp to receive a greater percentage of the block reward

ABOUT SiO2 Finance

SiO2 Finance is the multi-VM lending hub on Astar for Polkadot. We aim to become the best lending product with excellent user experience, easy-to-use one-click features, and transparent governance.

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The two companies will work together to formulate solutions using Web3 technology to various issues facing modern society, such as regional development and addressing environmental problems.

Web3 is a next-generation web that utilizes blockchain technology and incorporates mechanisms such as “decentralization” and “token economy”. The expansion of Web3 is expected to solve issues and create economic blocs. That has been difficult to realize using conventional economic principles alone.

On the other hand, Web3 is still in its early stages of technological development, and issues such as lack of awareness, difficulty in understanding how to use it, and lack of a secure environment for its use are also becoming apparent. By combining DOCOMO’s knowledge with Astar Network’s technology and operational know-how, we aim to resolve these issues.

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.

ABOUT Astar Network

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. Total Value Locked and most Ethereum assets transferred over. Astar Network is the leading smart contract hub. Connects the Polkadot ecosystem to Ethereum, Cosmos, and all major layer 1 blockchains.

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O3Swap Cross Integration With Astar Network. O3 Swap V2 is going to officially launch on the Astar Network starting from October 26th at 4 AM UTC.🙌 Meanwhile, the liquidity mining of LP-USDC and LP-O3 on Astar at O3 Hub will also be started. From 26th, you can freely swap/bridge assets between the Astar and any ecosystem on O3 Swap V2 to experience the seamless cross-chain.

Farmers, the APR won’t last forever, get in the pools while it’s HOT! 🔥🔥

Stake LP tokens to Earn $O3 Rewards

LP Stake starts at: 10/26 4 AM UTC
Rewards start at Timestamp: 1666778400 (10/26 10 AM UTC)
O3 Contract Address: 0xEe9801669C6138E84bD50dEB500827b776777d28

Astar

LP-USDC Contract Address:
0x80AEe24224dF05658b26ee86DFa132f7a53595B8

LP-O3 Contract Address:
0x88166B3E5DAD282BEB6D7e7a96c1Be6f7510fbEB

Bonus: For users who cross-chain swaps to Astar more than $10 worth of tokens will be airdropped a certain amount of $ASTR from Astar’s faucet event! One address has only one chance to receive the reward!

Guideline to add the liquidity and stake LPs for farming

1. Go to o3swap.com/hub. Select the USDC/O3 pool that you want to deposit. Click on the pool tab to select Astar and click “+”.
2. Input the number of token, or ptoken, or the numbers of both token and ptoken that you want to deposit into the pool. Then click “Deposit” to continue the transaction, and click the “Confirm” button in the pop-up window of your wallet extension or app to submit the transaction.
3. After the transaction, you will receive an amount of LPs representing the liquidity you deposited.
4. Go to o3swap.com/vault, switch to the Astar and find the staking pool corresponding to your LPs, then click “Stake”.
5. Input the number of LP tokens, then click “Confirm” to continue the transaction. If it is the first time your wallet or the token you select is used, you need to click on the “Approve” button at the pop-up window. Then click “Confirm” again. The final step is to click confirm in the pop-up window of your wallet extension or app.

About Astar

Astar Network — The Future of Smart Contracts for Multichain. Supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability, with cross-consensus messaging (XCM).

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About O3 Swap

O3 Swap a cross-chain DEX built on the top EVM-compatible blockchains. The token liquidity is both aggregated from the top DEXs on each chain and from on-chain liquidity pools deployed by O3 Labs. O3 Swap achieves both on-chain and cross-chain swaps quickly. Users can exchange tokens from any supported chain to another token freely. The one-click exchange of assets between multiple chains eliminates the need to reserve a gas fee for each chain.

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They are launching Astar and Acala DeFi Rising Campaign–solidifying one of our most important partnerships. Acala is pivotal to the booming ecosystem of dApps on Astar. Why? Because they have a suite of flexible financial products that serve the Polkadot network. Our two communities will be able to explore Astar’s vibrant DeFi ecosystem using Acala native assets, like aUSD, LDOT, and ACA, while receiving extra ACA and additional rewards from various Astar ecosystem teams.

Building a Strong Ecosystem through XCM

DeFi Rising is the first step to building innovation by leveraging the power of Cross-Consensus Message Format (XCM). Establishing Astar as the future of smart contracts for multichain requires having deep liquidity of institutional-grade assets, like aUSD and LDOT, for our builders to work with. Astar developers can build new dApps on top of Acala’s reliable assets, providing a foundation to expand our network. In return, our ecosystem will build the early use-cases needed for aUSD mass adoption across the multichain future.

Why this matters to the Polkadot ecosystem?

As this is the first official collaboration between two parachains on Polkadot, the initiative will highlight the capability of Polkadot to execute trustless and decentralized cross-chain transfers through XCM. With two of the biggest parachains working together, the potential of XCM to build value across ecosystems will be recognized by the builders outside of Polkadot–gaining their attention is a step towards expanding the developers-first Dotsama ecosystem.

Astar x Acala DeFi Rising

Astar x Acala DeFi Rising Campaign will invite major dApps on Astar to integrate with native Acala assets (i.e. aUSD, LDOT, and ACA) by offering extra incentives to eligible pools. It takes off on August 10, as ArthSwap–the one-stop DeFi on Astar Network–joins this campaign as the first project of Astar x Acala DeFi Rising!

Follow our social media: More Astar ecosystem projects are on the horizon! We will update as new projects join the campaign.

The extra incentives for this campaign will consist of increased token rewards from Astar dApps and ACA provided by Acala. Details for the first eligible pools are:

aUSD-WASTR Pool

Start: August 10
Rewards: Increased ARSW + ACA Rewards
End: October 04

LDOT-WASTR Pool

Start: August 17
Rewards: Increased ARSW + ACA Rewards
End: October 04

Users supplying liquidity to aUSD/wASTR and LDOT/wASTR pools on ArthSwap will be eligible for additional ACA incentives.

Join the Astar x Acala Defi Rising Campaign

Here is a step-by-step tutorial on how to join this campaign.

1. Acquiring aUSD or LDOT:

• Guide: Open vault to mint aUSD
• Guide: Stake and receive LDOT
• Get aUSD on Acala Swap or Kucoin without minting

2. XCM Transfer aUSD, ACA, LDOT from Acala to Astar

3. Provide aUSD or LDOT liquidity on ArthSwap

• Guide: Stake aUSD/WASTR on ArthSwap

About Acala

Acala a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD, is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate.

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About Astar

Astar Network the Future of Smart Contracts for Multichain. Astar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability, with cross-consensus messaging (XCM). They are made by developers and for developers. Astar’s unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for the code they write and dApps they build.

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SiO2 Finance is officially live on Astar Network as of today!

A quick primer on SiO2…

The future of web3 is a multi-virtual machine future. And the world needs a decentralized multi-VM lending hub that’s just as delightful and easy to use as it is powerful.

This is why they’ve built the next-generation lending platform to support Ethereum Virtual Machine (EVM) and Web Assembly (WASM).

SiO2 embodies the spirit of Astar Network.

It supports multi-virtual machines and is intensely community-focused.

Furthermore, SiO2 has some pretty neat features, such as:

· Lending/borrowing 💰: allow you to use multiple assets as collateral and borrow other assets (launched ✅)

· Depositing 🏦: allow you to deposit multiple assets and earn passive income from interests (launched ✅)

· veStaking 🔒: incentivize long-term token holders over short-term holders with $SIO2 (launched ✅)

· One-click short position 📉: allow you to short an asset with only one click (coming soon 🚀)

· One-click flashloan ⚡️: allow you to use flashloan for position migration (e.g., move position from one protocol to another in seconds), arbitrages without having to code (coming soon 🚀)

· Multi-VM support 💻: EVM and WASM will be supported on one front-end (coming soon 🚀)

They’re bringing SiO2 to the world because we need a web3 protocol that boldly steps into the multi-VM future. They’re creating a decentralized lending protocol of the community, by the community, and for the community.

Transparency, ease of use, and community-first are at the core of our team and value system.

As some of you may know, we’re the same team that brought you AstridDAO, and they take pride in being responsive to their community and tenacious in the product-building process.

They don’t take shortcuts and keep the  sights firmly on the long-term vision. The intention and approach with SiO2 are no different.

They have big goals, and one of them is to bring more utility to the beloved stablecoin, $BAI, that’s growing in adoption daily.

SiO2 Finance was born out of a powerful desire to build a superior lending and borrowing product and user experience for the Astar and Polkadot community.

How To Use SiO2 Finance

Connect Metamask to SiO2

Go to the SiO2 website (https://astar.sio2.finance/) and click on “Connect Wallet.”

If you are not already connected to Astar Network, click “Change Network” and confirm it in your MetaMask wallet.

Supply

Now go to the “Dashboard” page and click on the “Supply“ button in your chosen crypto. “Supply APY” indicates the reward rate from interest. “Supply APR” indicates the liquidity mining reward from SIO2 tokens.

Next, enter the amount that you want to supply and hit “Supply.”

Approve this action in the MetaMask wallet.

Now you can see your “Supply Balance,” “Net APY,” & “Available SiO2 Rewards,” which you have earned so far.

If you want to harvest them, push the “Claim” button and confirm the transaction in MetaMask.

Borrow

If you want to try our borrow feature, choose your desired crypto and click on “Borrow.” “Borrow APY” indicates the interest rate that you have to pay. “Supply APR” indicates the liquidity mining reward from SIO2 tokens.

Next, set the amount you wish to borrow and push the “Borrow” button in the pop-up window.

Confirm this transaction in your MetaMask.

Now you can see your “Borrow Balance. “ Remember that your “Health Factor “has to be higher than “1”! Otherwise, liquidation happens.

Staking

To stake, go to the “Stake “page. Enter the desired amount you want to stake, choose “Duration, “ and hit the “Confirm” button.

Approve transaction in your MetaMask wallet.

Now you can see the “Summary” of your stake with APY, Unweighted / Weighted Stake, and Pool Share!

If you scroll down, you will see your “Locked Stakes “with the “Date & Time “ending period.

About SiO2 Finance

SiO2 Finance the multi-VM lending hub on Astar for Polkadot. Aim to become the best lending product with excellent user experience, easy-to-use one-click features, and transparent governance.

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