Astar Network falls behind ahead of 350M token burn: What about ASTR?

Quick Summary:

Astar Network voted to remove from circulation the initial token supply allocated for Polkadot parachain auctions.

In light of the updated mechanism, the Astar Foundation proposed removing the allocation from circulation as part of a strategy to improve ASTR’s tokenomics.

Blockchain projects essentially submit bids in the DOT native token to the relay chain as part of the candle auction process to determine which ones connect to a parachain slot for a given lease period.

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Article Details

Author / Journalist: Sam Grant

Category: Crypto

Markets: United States

Topics: Social Altcoin News 1 Trading View News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-04 @ 05:00:28 (3 days ago)

News Timezone: GMT +8:00

News Source URL: ambcrypto.com

Language: English

Article Length: 670 words

Reading Time: 4 minutes read

Sentences: 35 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © AMBCrypto

News ID: 21477916

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