What Is Astar Network?
Astar Network is a scalable decentralized platform hub for Polkadot smart contracts and its parachain. Developed by Japanese creators, Astar enables the deployment of decentralized applications (dApps) and Web3 solutions. The platform equips developers with tools for smart contract creation, private blockchain development, digital asset exchanges, liquidity mining, and more—eliminating infrastructure management burdens.
Originally launched as Plasm Network in 2020, the project rebranded to Astar Network in 2021, with its mainnet going live in January 2022. Today, Astar is Japan’s foremost smart contract platform.
Key Backers and Funding
- Total raised: $46.8 million ($34M from institutional investors + $12.8M via public token sales)
- Notable investors: Binance Labs, Coinbase Ventures, Polychain Capital, HashKey Capital, Alchemy, DFG Capital, and GSR.
👉 Explore how Astar compares to other Polkadot parachains
How Astar Network Works
Astar serves as a multichain hub within Polkadot, supporting dApps for DeFi, DAOs, NFTs, and beyond. Built on Parity Substrate, it integrates:
- Ethereum Virtual Machine (EVM)
- WebAssembly (WASM)
- Cross-protocol interoperability tools
Unique Features
- Operator Trading: Monetize smart contracts or transfer dApp ownership.
- Multi-Lockdrop: Distributes airdrop rewards across multiple blockchains.
- DApp Staking & Rewards: 50% of block rewards go to developers, incentivizing ecosystem growth.
The ASTR Token: Utility and Performance
Tokenomics
- Circulating supply: 5.5 billion ASTR (out of 8.3 billion issued)
- Inflation rate: 7% annually (no hard cap)
- Use cases: Network fees, DAO governance, staking rewards
Market Performance
- Rank: #65 on CoinMarketCap ($966M+ market cap)
- Price growth: 304% in 12 months ($0.05 → $0.17)
- ATH: $0.33 (April 2022)
- Available on: Binance, OKX, KuCoin, HTX, Gate.io
Why Astar Network Shows Promise
Milestones
- Won Polkadot’s 3rd parachain auction (10.3M DOT raised, ~$327M value).
- Backed by Binance Labs, OKX, and Digital Finance Group (300K DOT contribution).
Ecosystem Growth
Despite hosting ~50 dApps, Astar’s technology and investor confidence position it for expansion.
👉 Discover how to stake ASTR tokens
FAQ
1. Is Astar Network only for developers?
No—while developers build dApps, users benefit from DeFi, GameFi, and NFT applications.
2. What makes ASTR tokens inflationary?
A 7% annual inflation rate ensures validator rewards but requires staking to offset dilution.
3. How does DApp staking work?
Developers earn 50% of block rewards by staking ASTR, aligning incentives with network growth.
4. Can Astar interact with Ethereum?
Yes, via EVM compatibility, allowing Ethereum dApps to port seamlessly.
5. What’s next for Astar?
Expect cross-chain upgrades and ecosystem grants to attract more builders.
For more insights, visit our comprehensive guide on Polkadot’s top projects.