• 350 million ASTAR tokens had been burned, decreasing 5% of the whole token provide.
• The token was initially supposed for the discontinued Polkadot parachain program.

Following a profitable governance vote, the blockchain community will burn 350 million ASTAR tokens for use for the Polkadot Parachain program, which can permit initiatives to hook up with Polkdot's relay chain.

This allocation will generate an extra 70 million ASTAR tokens, which might be added to the treasury whereas the preliminary tokens are burned.

The multi-chain community noticed a rise in buying and selling volumes following the announcement, resulting in a 7% improve in token costs earlier than really fizzling out.

Astar not too long ago launched its zkEVM chain built-in with Polygon’s Agglayer know-how, permitting property to be seamlessly transmitted between different chains in a rising community of interconnected Layer 2 chains.