Apr 21, 2022
Astar Network catches its breath. Best time for #AstarSeason
Astar Network is the #1 TVL Smart Contract Hub for WASM + EVM on Polkadot. Since winning its Parachain auction in January 2022, Astar Network has become the top Parachain in the Polkadot ecosystem in Total Value Locked and most Ethereum assets transferred over.
Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major layer 1 blockchains. Having discovered that the Polkadot relay chain does not support smart contracts, the Astar platform was built to fill this need for developers who want to build on the Polkadot ecosystem. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM
It is built on Substrate and has become the #1 Polkadot Paracahin in terms of Ethereum Assets and TVL platform for making scalable dApps for DeFi, DAO, and NFT projects. Like other Polkadot parachains, its interoperability is key in connecting several blockchains, including Ethereum, Cosmos, and other Layer 1s.
Companies built on the Astar
In the last two months since the release of the Astar Network, several incredible projects have been launched, with some still in the pipeline, according to the roadmap.
The project has been integrated with several bridges, like the cross-chain protocol and the Anyway bridge. In addition to these integrations and 15 new projects in the works, the price of Astar token $ASTR got boosted by more than 100% between March 22nd and April 1st, 2022. The bridges function as shown below:
Cross-chain protocol (Cbridge)
The cross-chain protocol supports the transfer from Polygon to the Astar network. However, you must connect your wallet to transfer Polygon to the Astar network. At the time of writing this article, Cbridge only supports Metamask on desktop browsers.
Transferring Polygon to Astar
Transferring Polygon to Astar is a simple step-by-step procedure and must be followed closely:
- Select Polygon as the wallet to transfer from and Astar as the receipt address wallet.
- Approve the procedure to add a network. (“switch the network” option will pop up if your sender’s address isn’t a polygon wallet.)
- Once done, enter the amount to send in the drop menu as depicted below (you’ll see the estimated amount to be sent after charges have been removed; bridge rates and fees also affect the amount you’ll receive). The picture below depicts the transaction for the transfer of 50 Polygon.
- Review your transfer details and confirm the transaction.
- After completion of the transaction, confirm if the transaction is pending or successful. The status of your transaction is displayed in the top right-hand corner of this page.
- You can also check your transaction status via a link in the transaction history that takes you to Polygon Explorer.
Anyswap Bridge
Anyswap bridge allows you to transfer assets from Binance smart chains and Ethereum to the Astar ecosystem using ASTR; ASTR is important as fees for the transfer.
How to Transfer ASTR from exchanges
Firstly, visit https://portal.astar.network/#/. This is what the page should look like:
3. The address that comes up is what you should use to withdraw ASTR tokens from exchanges.
How to Bridge
I will now show you how to bridge USDT from Ethereum to Astar. By doing this, you will add liquidity to the network.
● Step 1:
Go to the following website: https://anyswap.exchange/#/ and connect to your MetaMask. Select the Ethereum network to transfer USDT from ETH (mainnet) to USDT on Astar (mainnet).
- Step 2:
Click on Swap to start with the transfer. You will receive a popup where you again need to click on Swap, MetaMask will then open for you to sign the transaction.
- Step 3:
In the top-right corner, you will see that the transaction is pending. This can take up to 15–30 minutes. When the transaction is completed, you’ll see this:
- Step 4:
Finally, click on import tokens on Metamask to add contracts as shown below.
Contracts
USDC: 0xfa9343c3897324496a05fc75abed6bac29f8a40f
USDT:0xefaeee334f0fd1712f9a8cc375f427d9cdd40d73
ETH: 0x765277eebeca2e31912c9946eae1021199b39c61
WBTC: 0x818ec0a7fe18ff94269904fced6ae3dae6d6dc0b
BUSD: 0x65e66a61d0a8f1e686c2d6083ad611a10d84d97a
I will now show you how to bridge USDT from Ethereum to Astar. By doing this, you will add liquidity to the network.
● Step 1:
Go to the following website: https://anyswap.exchange/#/ and connect to your MetaMask. Select the Ethereum network to transfer USDT from ETH (mainnet) to USDT on Astar (mainnet).
● Step 2:
Click on Swap to start with the transfer. You will receive a popup where you again need to click on Swap, MetaMask will then open for you to sign the transaction.
● Step 3:
In the top-right corner, you will see that the transaction is pending. This can take up to 15–30 minutes. When the transaction is completed, you’ll see this:
● Step 4:
Finally, click on Import Tokens on Metamask to add contracts as shown below.
Contracts:
USDC: 0xfa9343c3897324496a05fc75abed6bac29f8a40f
USDT:0xefaeee334f0fd1712f9a8cc375f427d9cdd40d73
ETH: 0x765277eebeca2e31912c9946eae1021199b39c61
WBTC: 0x818ec0a7fe18ff94269904fced6ae3dae6d6dc0b
BUSD: 0x65e66a61d0a8f1e686c2d6083ad611a10d84d97a
Other projects built on the ecosystem include:
- ADAO is issued based on the dApp staking of Astar Network. Users will get some developer rewards for joining and achieving basic rewards.
- Starfish Finance is the next-generation DeFi hub native to Astar and the gateway to the multi-chain ecosystem. Starfish is the first automated market maker (AMM) platform built on Astar Network with a Polkadot-based stablecoin. Users enjoy exclusive access to initial DEX offerings (IDO), private token sales, and NFT-Fi for a true Web 3.0 and community-driven DeFi journey.
- AstridDAO is the third project launched by the Astar Incubation Program, after ArthSwap and Starley. AstridDAO is a multi-collateral stablecoin created on the Astar Network and for the Polkadot ecosystem. AstridDAO authorized users to put in different crypto assets, including ASTR, BTC, ETH, BNB, and BAI, USD-backed stable coin, with 0% interest. With ATID and veATID, people can vote to boost rewards and add new collateral. Holder BAI will be able to farm on several protocols on Astar Network for rewards and dividends.
- Astar Farm is a DeFi & GameFi dApp created on the dApp staking of Astar Network.
- Avault is a profit aggregator that gives DeFi users automatic compounding at optimal periods while aggregating gas fees through smart contracts and optimized techniques for sufficient profit. With the Vault and Zap standards from Avault, users can reap by automatically compounding interest for increased capital utilization and converting directly from a single asset (e.g., ASTR) to LP tokens (e.g., ARSW-ASTR LP) with one tap.
- Kagla is a StableSwap protocol for Astar Network. Kagla allows users to trade stable coins like USDT⇆USDC with low fees and low slippage on Astar Network.
- Alnair Finance is a profit optimization program that permits users to stake LP-Tokens distributed from AMM (automatic market maker) and DEX (decentralized exchange) in Alnair Vaults, automatically receiving and investing their rewards back as LP-Tokens to build a compound interest effect.
- Starbank will be the first decentralized investment platform on the Astar Network based on Balancer V2. The Starbank Protocol adds incentives to Astar Network participants by introducing revenue sharing through the next-generation AMM protocol.
Other Massive moves by the Astar network:
- Astar has collaborated with several top exchanges where its native tokens, ASTR can be traded, including Binance, Kucoin, Kraken, etc.
- Astar has collaborated with Microsoft in an incubation program.
- A new game, FelixDAO, has been created on the Astar network.
- Astar created an Astarpass, a means to attract developers in a “Build and earn” campaign.
- Astar has collaborated with NFTY Network, a cross-chain authentication layer.
- AstarGhost is building a metaverse on the Astar network.
These are just a few of the ongoing projects on the Astar Network. Indeed, it has been a busy season, with much progress being made in a short while.
The Builders Program
The Astar core team created the Builders Program to inspire developers and bring growth to the ecosystem. Its goal is to support developer teams that wish to build in the Astar ecosystem. The builder’s program accepts applications all year round.
It consists of a committee of 8 members; 4 ambassadors from our community and 4 Astar members. This committee vets applications and reaches a consensus on whether to accept your application to the Builder’s Program or Astar Incubation Program. The difference between these two programs is Builder’s Program is a more general support system Astar offers for all projects building on Astar Network. The Incubation Program is significantly involved where founders get supported across the board with Fundraising, Partnerships, Marketing, operations guidance, and network connections.
Join the Astar & Shiden Builders Program and scale your Dapp and Infrastructure!
As a Tweet rightly puts it, “the speed of how the Astar system grows is impressive!” We can only imagine what this and next year will look like for this incredible project!
About Astar
Astar Network is the #1 TVL Smart Contract Hub for WASM + EVM on Polkadot.
Since winning its Parachain auction in January 2022, Astar Network has become the top Parachain in the Polkadot ecosystem in Total Value Locked and most Ethereum assets transferred over. Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major layer 1 blockchains. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM — and offers the best technology solutions and financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers to build on top of a secure, scalable, and interoperable blockchain.
PromoTeam is a diverse team of specialists and blockchain activists with various skills that actively promotes the Polkadot ecosystem in the English-speaking and Russian communities.
Our main activity is content production, offline and online event organization, community management and creation, product marketing, development of ambassador programs.
We also run validator nodes for Polkadot and Cosmos blockchains and participate in the Polkadot ecosystem projects as investors, advisors and contributors.
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