EXCLUSIVE: AstarNetwork, a Polkadot parachain, has launched the $100 million Astar Boost funding and incentive program, weeks after closing a $22 million funding round. BrandyBetz reports
to provide liquidity and offer financial support and incentive programs to smart contract developers. The company told CoinDesk that the program was funded through $22 million in fundraising, as well as an allocation of the native ASTR token.in strategic funding from crypto venture capital firms Polychain and Alameda Research.
Polkadot, a framework for connecting various blockchains, does not support smart contracts on its main relay chain. Astar provides that support for smart contract developers. Astar also lets developers earn tokens for building smart contracts or infrastructure, supported by the #Build2Earn protocol and paid out in ASTR.
The new Astar Boost Program has already supported liquidity and incentives for decentralized finance applications on the protocol, including decentralized exchanges ArthSwap and PolkaEx, and Celer cBridge, a multichain asset bridge. “Astar Network will support projects committing to Astar financially by Astar Boost Program as well as dApp Staking, our original incentive system for developers,” said Sota Watanabe, founder of Astar Network, in the announcement blog. “We expect to grow rapidly together. Through this program, our community will be extra rewarded for their on-chain activity.
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