The Guide for DOT Festival #3–Extra Reward of 1.5M $ASTR
Hello everyone, this is Chest.
We are excited to announce that Starlay will join DOT Festival #3! As a leading lending protocol on Astar Network, we are extremely grateful to Astar team for allowing us to participate. Sorry for the wait, users, but we’re finally able to announce that we’re in!
Summary
- We got 1.5M $ASTR allocation for DOT Festival.
- The more and the longer you deposit $DOT, the more rewards you will receive.
- You can maximize the rewards by depositing before the festival begins.
- To get rewards, you have to get AstarPass.
What’s Dot Festival?
Dot Festival is an attractive event held by Astar Network. This aims to inflow as much $DOT as possible, and some selected protocols can get extra reward allocation of $ASTR from Astar team. The festival has already been held twice, the first time with ArthSwap and the second time with Astrid DAO as the main target. Now, for the third and last time, Starlay has been selected as the main additional reward target!
The allocation of $ASTR is below
In this festival, 3M $ASTR is allocated in total. The rewards will be divided among the three protocols participating in the festival as follows.
Starlay: 1,500,000
Astrid DAO: 1,000,000
ArthSwap: 500,000
Schedule
The Festival will kick off on June 27th, 13:00 UTC, and last until July 6th, 13:00 UTC.
How to earn Extra Rewards?
The system is pretty simple. The extra rewards of $ASTR will be distributed to the depositor of $DOT on Starlay.
And the amount of rewards is calculated by this equation.
Your Score = Amount of $DOT Deposit × Number of blocks created while depositing
The total rewards you’ll get are based on this equation below!
Your Reward = (Your Score/Total Score) x 1,500,000 $ASTR
Put simply, the more and the longer you deposit $DOT, and the more rewards you will receive.
If you already deposit $DOT, you don’t have to redeposit when the festival starts. In other words, if you deposit $DOT before the festival and leave it as it is, you can maximize your rewards. We set up the system with incentives for users to make deposits as early as possible.
※ Note that all ASTR rewards earned during this event will be vested for 3 months — only claimable after DOT Fest ends.
About Eligibility
Since the $ASTR rewards aren’t distributed to EVM wallet, you need to enroll AstarPass to get eligibility. So, all you have to do to get extra rewards are here.
- Deposit $DOT within the festival
- Get your AstarPass
For users who don’t care about the native wallet, please do not forget to register for AstarPass, as it is often overlooked.
About AstarPass
The AstarPass maps your native account to an EVM account and has a plethora of benefits as well (you can read more here!). You must use an account that holds an AstarPass since $ASTR rewards are distributed to native addresses only. If you have any trouble connecting your AstarPass you can find the details in the step-by-step tutorial here: https://docs.astar.network/dot-festival/participating-in-dot-festival/register-for-astarpass
For Beginners of Starlay
I know some of you are completely a beginner for Starlay, and I hope you’ll enjoy it with your $DOT assets. Makai, one of the interesting features of Starlay can offer you an attractive APR, so please take a look at this functionality.
Buyback is coming soon
As we talked about in Astar Forum, we’ll execute the buyback operation as soon as ve functionality, which is scheduled around the beginning of July, gets implemented. Since the APR is in proportion to the price of LAY, please look forward to the upcoming hype.
I appreciate all your support. Though the entire Defi activities get inactive, I hope this festival boosts our whole ecosystem. I’m sure that $DOT is the most important asset for Astar, one of the leading parachain, so let’s enhance this event together!
Thank you!
