Astar Network introduces Astar Surge: a groundbreaking pre-deposit initiative
Introduction
Astar Network, the revolutionary cross-chain Web3 collective network, has recently disclosed Astar Surge, an innovative pre-deposit campaign aimed at bolstering integration with Soneium. Scheduled to commence on December 18, this campaign heralds a new era for ASTR token holders by offering lucrative rewards and fostering the expansion of Astar’s Web3 ecosystem.
The Astar Surge Campaign
During the Astar Surge initiative, ASTR holders are invited to deposit their tokens into specially curated contracts on Astar’s Layer-1 (L1) network. This process enables token holders to earn points for their engagement with various Soneium decentralized applications (dApps), which can later be redeemed for new project tokens during token generation events (TGEs). By incentivizing early adopters to actively contribute to ecosystem growth and adoption, Astar Surge paves the way for a vibrant and thriving community.
Astar’s Collaboration with Soneium
As part of this progressive campaign, multiple Soneium projects including Yay!, Sake Finance, Untitled Bank, SoneX, and Kyo Finance are collaborating with Astar to implement pre-deposit contracts. These collaborations are anticipated to boost the total value locked (TVL) and enhance the visibility of each project leading up to Soneium’s mainnet launch. The generated liquidity will play a pivotal role in ensuring the seamless functioning of the new infrastructure right from its inception.
Astar Network Security
The contracts utilized in the campaign have been developed by Sake Finance and audited by PeckShield, ensuring top-notch security standards. Through ERC-6551 token-bound accounts, users can securely retain ownership of their tokens within the contracts until the Soneium mainnet launch. Following the deposit of ASTR or ASTR liquid staking tokens (LSTs), the protocol creates a token-bound smart contract account that locks the assets while allowing users to retain control through associated non-fungible tokens (NFTs). Post mainnet launch, users can unlock their assets by executing transactions and updating bridge contracts via advanced technologies such as LayerZero and Chainlink CCIP.
Conclusion
The inception of Astar Surge marks a significant stride in Astar Network’s endeavor to democratize Web3 solutions on a global scale. By empowering the community through early access to cutting-edge Soneium dApps, Astar is not only fueling ecosystem growth but also facilitating a seamless transition to Soneium’s infrastructure. This collaborative effort underscores Astar’s commitment to widespread adoption and value creation for all ASTR holders, both present and future.
The post Astar Network announces Astar Surge, a new pre-deposit campaign originally appeared on Finbold.