Home Crypto Astar Network must burn 5% of the total token supply

Astar Network must burn 5% of the total token supply

by Editorial Staff
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  • 350 million ASTAR tokens have been set to be burned, eliminating 5% of the full tokens.
  • The tokens have been initially meant for the Polkadot parachain program, which was discontinued.

Following a profitable governance vote, the blockchain community will burn 350 million ASTAR tokens to be used within the Polkadot parachain, which has allowed tasks to attach the Polkdot relay chain.

The distribution introduced one other 70 million ASTAR tokens to be added to the treasury and the unique tokens to be burned.

The blockchain noticed increased buying and selling quantity after the announcement as its token rose 7%, however has since pared a few of its good points.

Astar lately launched the zkEVM chain, which integrates with Polygon’s Agglayer expertise, permitting property to be despatched seamlessly throughout different chains in Polygon’s rising community of interconnected layer 2 chains.

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