This article will provide comprehensive information on Astar Network and Shiden Network, including their prominent features and tokenomics details of their respective tokens, ASTR and SDN.
What is Astar Network & Shiden Network?
The Astar Network project, previously known as Plasm Network, is aimed at constructing a bridge that connects decentralized finance applications (DeFi DApps) or layer 1 blockchains to Polkadot.
Astar Network is an expandable and interactive infrastructure for Web3.0. It is built on Parity’s Substrate Frame, and as a parachain of Polkadot in the future, it also functions as a Smart Contract Platform that can scale on Polkadot Relaychain (which does not support Smart Contract). This unique feature allows Astar Network the opportunity to fill the gap in the Smart Contract space.
The Shiden Network operates as a Research and Development arm of the Astar Network built on the Kusama blockchain. Although Astar and Shiden share the same code base, they are deployed on different blockchain networks, namely Polkadot and Kusama respectively, and have distinctive native tokens and tokenomics.
The salient features of Astar Network (ASTR) and Shiden Network (SDN)
Developers are free to build any application on the Astar & Shiden Network without having to consider their scalability.
The network Astar & Shiden addresses prominent issues regarding scalability and interoperability by facilitating the development of Dapps using various programming languages such as Ethereum’s Solidity and Polkadot’s ink!, thereby supporting the construction process.
For example, when developers build Dapps on Astar Network or Shiden Network, they have 2 options:
- Ethereum Solidity: Astar and Shiden offer support for both WASM and EVM, enabling developers to deploy Solidity contracts on these platforms using existing Ethereum tools like Metamask and Remix. Furthermore, developers can also deploy Solidity contracts on WASM using Solang. This feature provides significant flexibility and convenience to developers in deploying their decentralized applications on Astar and Shiden.
- Parity’s ink!: ink! is the native language on Substrate created by Parity Technologies.
The outstanding issues regarding the scalability and interoperability of Astar Network are addressed in the following manner:
Ability of extension
- Increase transactions per second (TPS).
- Minimize transaction costs.
- Increase transaction speed.
Astar team is currently developing an OVM module, Rollups, and functionalities to create scalable dApps in addition to being built on Substrate. The operational structure of Astar can be envisioned as follows.
Currently, there exist several different blockchains that operate in parallel, but only a few of them have the ability to interact with each other. When it comes to transferring value from Bitcoin to Ethereum, it is necessary to do so through intermediaries. Polkadot, however, is a segmented protocol that enables blockchain networks to seamlessly work together.
The compatibility of Astar Network with Polkadot allows for seamless interaction between the two. By establishing a connection between Astar Network and Polkadot, the project can offer enhanced interoperability capabilities.
Detailed information regarding ASTR token and SDN token
As previously mentioned, the Astar Network (ASTR) and Shiden Network (SDN) share the same code base, yet operate on two separate chains and possess unique native tokens and tokenomics.
The native token for Astar Network is ASTR, whereas the native token for Shiden Network is SDN.
Key Metrics ASTR & SDN
Key metrics ASTR of Astar Network
- Token Name: ASTR
- Ticker: ASTR
- Blockchain: Astar blockchain.
- Token Standard: native token trên Astar chain.
- Token type: Governance & Utility
- Total Supply: 7,000,000,000 ASTR (Inflation 10% yearly)
- Circulating Supply: not live yet.
Key metrics SDN of Siden Network
- Token Name: SDN
- Ticker: SDN
- Blockchain: Shiden blockchain.
- Token Standard: native token trên Shiden chain.
- Token type: Governance & Utility
- Total Supply: 70,000,000 SDN (Inflation 10% yearly)
- Circulating Supply: 54,302,428 SDN (Updated: 30/11/2021)
- Users and Early Supporters (lockdrops): 30%
- Parachain Auction in 2021: 20%
- Protocol Development: 10%
- Early Financial Backers: 10%
- Foundation: 10%
- Parachain Auctions Reserve: 5%
- On-Chain DAO : 5%
- Marketing: 5%
- Team (Employee Incentives): 5%
- Lockdrops: 30%
- Parachain Auctions: 30%
- Protocol Development: 10%
- Ecosystem Growth: 10%
- Parachain Auction Reserve: 5%
- On Chain DAO: 5%
- Marketing: 5%
- Team: 5%
The project has garnered substantial investment from a number of renowned ventures. However, details regarding the private and seed rounds have not been disclosed yet. Coin98 Insights will provide updates as soon as the project makes this information available.
Token Release Schedule
- Lockdrops (Astar Network & Shiden Network): The vesting schedule for the lockdrop participation of 7-15 months varies depending on the duration of engagement. Astar Network and Shiden Network have completed the Lockdrops with ETH and over 150,000 ETH has been locked in the projects’ smart contracts for two months. Participants will receive ASTR and SDN tokens based on opportunity cost and operational expenses.
- Parachain Auction (Astar & Shiden): 10% TGE, 22 months linear vesting.
- Early Financial Backers (Astar Network): Investing in Astar Network from 2020. 10% TGE, 7 months linear vesting.
- Team (Astar Network & Shiden Network): 2-year lock, 0% TGE, 3-year linear vesting.
Token Use Case
Both ASTR in Astar Network and SDN in Shiden Network share similar use cases such as DApps staking, network staking, transaction fees, on-chain governance rights, and layer 2 staking.
The ASTR token may be utilized for the following purposes:
- Transaction fees: Used as transaction fees on the network.
- Rewards: Block validation rewards for dApps operators
- Governance: Use for governance activities such as voting and referendums.
- Staking: Use in consensus mechanism (consensus); rewards for validators and nominators.
How to earn and own ASTR & SDN
The current method for earning ASTR tokens on the Astar Network is as follows:
- Participate in Astar Network’s Polkadot Parachain auction.
- Buy ASTR on supported exchanges (when Astra launches mainnet).
- Run a node to validate transactions for Astra Network (when Astra launches mainnet).
- Build Dapp on Astra network (when Astra launches mainnet).
At present, the means of acquiring SDN tokens on the Shiden Network is as follows:
- Buy SDN on supported exchanges.
- Run the node to validate transactions for the Shiden Network.
- Build Dapp on Shiden network.
ASTR & SDN Storage Wallet & Exchange
ASTR & SDN Storage Wallet
- At present, the mainnet launch of ASTR on Astar Network has not yet been realized.
- The mainnet of SDN has been launched and is now supported for trading on prominent exchanges such as Crypto.com, Gate, Houbi, Kucoin, among others. As a result, it is now possible to store the SDN token on the wallets provided by these exchanges.
Exchange ASTR & SDN
Currently, SDN can be traded on various crypto exchanges such as Crypto.com, Gate, Houbi, and Kucoin.
Roadmaps & Updates
- Participate in the Polkadot/Kusama Parachain Slot auction.
- Complete deployment of Optimistic Virtual Machine (OVM).
- Complete deployment of ZK Rollups Substrate pallets.
- Launch Shiden Network on Kusama Network.
- Launch Astar Portal and dApps Staking.
- Ethereum Bridge and Secret Network Bridge (Binance Smart Chain Bridge and ChainSafe Bridge in the future).
Developers, investors and partners
The team responsible for the development of Astar Network and Shiden Network consists of several individuals hailing from renowned companies.
Prominent VC firms and organizations that have invested in Astar network include well-known names such as Binance Labs (led), Block Dream Fund, Longhash Venture, Paka, Hashkey Capital, Digital Finance Group, and Stake Technologies.
Some notable partners of Astar & Shiden Network include…
The Astar Network has been identified as a crucial component within the Polkadot ecosystem. It should be noted that the Polkadot Relay Chain is not intended to provide support for smart contracts.
Astar has the opportunity to fill a significant gap by providing the ability to expand and ensure compatibility between different blockchains. The ability to scale is evidently one of the most crucial requirements that dApp developers desire.
An additional noteworthy information is that Stake Technologies, the company behind Astar Network and Shiden Network, has successfully raised $10 million USD in its leading fundraising round, facilitated by Fenbushi Capital.
As previously stated, Astar has successfully secured investments from prominent funds like Binance Labs, as well as assistance from major corporations such as Microsoft and the Web3 Foundation.
On September 6th, 2021, the project announced the launch of the Astar/Shiden ecosystem development fund worth $30 million USD. This positive development highlights the project’s vision and potential for growth. We encourage those interested in investment opportunities to closely monitor Astar Network.
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