Astar Network has been striving continuously to elevate its ecosystem and bring innovations that meet the evolving demands of the blockchain space. It has been a while since Astar announced its ground-breaking developments, Tokenomics 2.0 and dApp Staking v3. This post will walk you through the advancements made in these sectors and what they mean for the Astar Network ecosystem.
Tokenomics 2.0: Shaping A Dynamic Ecosystem
Phase 1: Dynamic EVM Base Fee Pallet
The journey towards implementing Tokenomics 2.0 consists of several meticulously planned phases. The first phase is centered around implementing and testing the dynamic EVM base fee pallet, a crucial component in optimizing the ecosystem’s fee structure. This phase is currently under peer review, and soon, the pallet will be incorporated into our Shibuya testnet runtime.
Tokenomics 2.0 aims to establish a balanced and resilient ecosystem by dynamically adjusting inflation based on the network’s needs. This approach ensures that the network can adapt swiftly to changing conditions and maintain optimal functionality. To delve deeper into the intricacies of Tokenomics 2.0, visit Astar Tokenomics 2.0. Developers interested in the implementation can refer to GitHub.
dApp Staking v3: Fortifying Community Support
The initial design of dApp Staking v3 is completed, and it is poised to undergo comprehensive testing in a local environment. The design has been refined and polished with invaluable input from our dedicated community, showcasing Astar’s commitment to community-centric development. dApp Staking v3 represents a monumental stride in offering enhanced support and rewards to the developer community within Astar Network.
To gain insights into the discussions and proposals surrounding dApp Staking v3, you can visit dApps Staking v3 Proposal.
Summary: dApps Staking v3 Proposal
Objective and Community Involvement
Astar Network aims to refine its existing dApps staking design and has shared a design sketch for dApps Staking v3 for community feedback, opinions, and ideas, emphasizing an informed perspective on the existing design and constructive discussions.
dApps Staking Overview
dApps Staking’s primary purpose is to encourage developers to opt for Astar Network. Token holders lock their tokens to vote for registered dApps, securing rewards from inflation. The reward scale aligns with the Total Value Locked (TVL) in the dApp.
Several problems have surfaced with the existing design, demanding decentralization of registration and better insight into dApps performance. There is a disparity in the treatment of registered dApps, a lack of scalability in reward schemas, high entry thresholds for new dApps, and a lack of engagement from stakers. Some rewards remain unclaimed and are not burned.
Proposed Solutions and Changes
dApps Staking v3 aspires to implement scalable dApps rewards and enhance staker engagement. There will be separate actions for locking & staking, and the introduction of tier-based reward distribution system to manage rewards more efficiently. Tier sorting functionality and other parameters like minimum TVL are being considered for refined sorting of dApps into tiers. Forced tiering can also be used as a mechanism to bootstrap projects by temporarily placing them in specific tiers.
Reward Distribution and Tier Configurations
The new design considers periodic calculations, where developer rewards are calculated less frequently than staker rewards, without impacting the reward quantity. Detailed tracking of unclaimed/unused rewards is proposed, providing options to burn them or utilize them in a different manner. Tier configurations could include parameters like the number of dApps, percentage of dApp rewards, and additional configuration parameters like minimum TVL.
Voting and Build & Earn Periods
The proposed model introduces two distinct periods: a Voting Period and a Build & Earn Period, cycling regularly. During the Voting Period, projects can attract stakers, but no rewards are distributed. All rewards are accumulated into a loyalty reward fund. The rewards can then be claimed by active stakers who participated during the voting period and remained staked during the Build & Earn period. The Build & Earn period enables projects to focus on development and earn rewards based on their tier.
Reward Accumulation Example
The model explains reward accumulation through a detailed example where rewards are accumulated during the voting period and normally distributed between dApps and stakers during the Build & Earn period. Detailed calculations are provided explaining the distribution of standard and extra rewards among different users, accentuating the rewards for active stakers.
Nomination and Voting Events Example
Examples of nominations during voting events were provided to illustrate how nominations and re-nominations would work in different periods and how they could be utilized for tier sorting.
This summary offers a concise overview, but for an in-depth understanding and to participate in discussions, community members are encouraged to refer to the original post on the Astar Network Forum.
Innovations: Account Unification and Metamask Snap
Lowering the Entry Barrier: Account Unification
In an exciting revelation, Account Unification is set to arrive on our Shibuya testnet by the end of this month. This feature is aimed at mitigating the entry barriers for new users by resolving the double account scheme prevalent in our parachain. The launch of Account Unification is indicative of Astar’s vision to foster inclusivity and accessibility within its ecosystem.
Metamask Snap: Aiding Wasm Builders
Alongside, Metamask Snap is nearing its final stages of development to support our Wasm builders. This enhancement will streamline the development process and provide our builders with a versatile tool to navigate the Astar ecosystem more efficiently.
Astar Network continues to solidify its stance as an innovator in the blockchain domain, with Tokenomics 2.0 and dApp Staking v3 being testament to its unwavering commitment to progress and community development. As these features roll out, they promise to usher in a new era of dynamism, inclusivity, and efficiency within the Astar ecosystem, paving the way for a more resilient and adaptive blockchain network.