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What is Astar (ASTR)?
Astar (ASTR) is the native token of the Astar Network, a multichain smart contract platform built on the Polkadot blockchain. It incentivizes participation and fuels various functionalities within the Astar ecosystem.
Key Features of Astar (ASTR)
- Multichain Compatibility: Astar allows developers to deploy smart contracts compatible with various blockchains, fostering interoperability and broader reach for their applications.
- dApp Staking: ASTR token holders can stake their tokens to support the development of decentralized applications (dApps) on the Astar Network, potentially earning rewards.
- On-Chain Governance: ASTR holders have voting rights on proposals shaping the future of the Astar Network, including fee structures and upgrades.
Uses of Astar (ASTR) Token
- Transaction Fees: ASTR is used to pay for transaction fees incurred on the Astar Network.
- Staking Rewards: Users can stake ASTR tokens to contribute to network security and potentially earn rewards.
- Governance Participation: ASTR holders can vote on proposals that influence the direction of the Astar Network.
- dApp Utility (Potential Future): A possibility exists for ASTR to be used within various dApps built on the Astar Network