Astake dApp Staking Proposal

Governance dApp Staking Applications
1

GM Astar Community, and @Community_Council

tl;dr

  • Astake at https://www.astake.dev is a newly launched Liquid Staking Protocol for Astar & Soneium Ecosystem
  • Astake with its features supports users in participating in dApp Staking with ease and the general growth of the ecosystem
  • This proposal is Astake’s application for Astar dApp Staking. Our goal is to
    • apply to dApp Staking through community council.
    • vote & stake on Astake dApp
    • share the rewards among Astake users to amplify yield.

Protocol Overview

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Astake is built on a secure, reliable framework, making it simple for users to take part in Astar dApp Staking on both Astar and Soneium.

This initiative enables users to earn attractive rewards in a way that best suits their needs while significantly contributing to the growth and sustainability of the ecosystem by participating in Astar’s dApp Staking program.

Protocol Mission - How Astake benefits Astar Eco

For $ASTR users

  • Maximize returns from Astar dapp Staking
  • Maintain liquidity via $wstASTR, our yield bearing non-rebasing liquid staking token
  • Upcoming opportunities for extra yield through partner protocols

For Astar Eco system

  • Enhancing the overall health and growth of Astar Eco
  • Increase active stakers from the Soneium via multi-chain support and wide adoption

Astake Team

Astake team is composed of battle-tested developers with extensive experience across multiple ecosystems, including BTC and ETH Layer2s. Although Astake is the first protocol developed on Astar, the team’s expertise and commitment ensure the delivery of a highly secure and reliable solution.

Now and Next

As Astake protocol is now live on the mainnet

  • All dApp Staking related functions are live
  • Astake is staking $ASTR on Astar Core Contributors
  • TVL on Astake is over 1.1 million - we appreciate the trust and support from all early adopters

Astake’s future plans include:

  • Expand the use of $wstASTR
  • Collaborating with DeFi projects, including Kyo, Sake, Untitled Bank, SoneX, and more, to offer extra yield

dApp Staking Reward Usage

Once Astake is listed on dapp Staking and the next Period enters vote&stake sub-period, Astake will move the staked $ASTR to Astake protocol.

dApp Staking reward for the protocol will be distributed to Astake users, which will increase the general APR of Astake - exceeding the APR of directly staking via dApp Staking Portal.

Features

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  • High APR
    • Astake offers 15%+ yield with optimized staking protocol design
  • Multi-Chain Support
    • Stake seamlessly on Astar and Soneium
    • $wstASTR is natively transferable across chains via CCIP
  • Secure
    • $wstASTR applies Battle tested standards including ERC-4626
    • Security audited by PeckShield
  • Extra Yield
    • Upcoming integrations with DeFi partners like Sake, Kyo, and SoneX will provide $wstASTR users with enhanced yield opportunities
  • Intuitive UI
    • Effortlessly manage or bridge assets, and track rewards across Astar and Soneium
    • Smooth & user-friendly staking process

Official Links

Website: https://www.astake.dev

X (Former Twitter): https://x.com/Astake_Official

Blog: https://substack.com/@astake

Discord: https://discord.gg/mH4befEp

Thank you for reviewing our proposal. We appreciate your time and consideration, and we value any feedback that can help us improve and align better with the Astar ecosystem’s goals.

Sincerely,

Astake Team

5 Likes
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Thanks for the proposal!

Astake supports LSTs for dApp Staking in both Soneium and Astar, and I don’t see anything wrong with listing to dApp Staking itself.

However, as I mentioned in your introductory thread, I think the notation needs to be adjusted.

@tksarah
Regarding the dApp Staking application, I believe there is talk of a two-step review process with Community Council and Forum.
What do you plan to do regarding this application?

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Thanks again for your support and attention!

However, as I mentioned in your introductory thread, I think the notation needs to be adjusted.

We’ll be making adjustments to our documentation shortly and will take this into consideration for our UI design.

Looks like we may have missed this part in the dApp Staking documentation. We’ll review it again and make sure that we follow the provided instructions at https://docs.astar.network/docs/learn/dapp-staking/

2 Likes
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Great to see that you’ve submitted your proposal! Having Astake within the ecosystem would be fantastic. I have a couple of comments:

  1. Is there a way to get to know the team? Typically, when a project joins Astar dApp Staking, they introduce their members and their roles.

Is this accurate? I’d love to know more details about this point.

Awesome! As a user, it’s now very clear to me what your intentions are and the opportunity to earn 15% or more by staking my ASTRs with you.

Wow! Incredible. I’m currently planning the development of a product that will allow users to stake ASTR from either Astar L1 or Soneium. It’s great that you’re sharing part of your implementation here.

I truly appreciate all of this—congratulations on the hard work!

In conclusion, I’m excited to see a highly adopted product like yours joining Astar dApp Staking. Plus, your integration between Soneium and Astar through the ASTR token is fantastic.

:white_check_mark: You have my full support for the project listing! :rocket:

1 Like
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The proposal looks very interesting. If I may, I’d like to ask a few additional questions:

  1. Regarding TVL, the numbers look interesting. How about in terms of number of users?

  2. Regarding reserves or backup, what are the team’s plans? Because I understand that the asset is not directly native.

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Hey team! Thanks for applying.

How secure is the protocol?
Has any security audit been conducted?
What is the current TVL?
How does the project plan to handle competitors in the liquid staking space, and what sets your product apart from others?

I strongly support tool-based dApps since economic activities will be centered on Soneium. I would love to see partnerships and incentives for using liquid ASTR with Superchain partners, as well as its listing in DeFi operations.

Thank you for applying for dApp staking!

1 Like
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Thank you for submitting your application. I appreciate the effort you have put into it.

I would like to share a couple of points for consideration:

  1. TVL Allocation to Astar Core dApp
    You mentioned that 100% of the staking TVL will be allocated to Astar Core dApp. However, with the upcoming release of Soneium, there is a possibility of significant TVL redistribution. This may make it more challenging for smaller dApps to secure the necessary support to reach, maintain, or improve their tier.

Given that Astar Core already holds 280M ASTR in the treasury and does not require additional staking beyond the Tier 1 threshold to receive further rewards, I believe TVL could be more effectively distributed among smaller dApps that need the support.

With this in mind, do you currently offer an option for users to choose a different dApp if they wish to support one other than Astar Core? If not, do you have any plans to introduce such a feature in the near future?

As dApp staking is designed to provide financial assistance to projects building on Astar Network (and Soneium, if beneficial to Astar), ensuring a balanced distribution of TVL would help sustain and grow the ecosystem.

  1. Use of dApp Rewards
    I also noticed that you plan to allocate 100% of dApp rewards to boost APR for your users. While rewarding stakers is understandable, this approach appears to be inconsistent with the new code of conduct currently being developed by the Astar Community Council (ACC).

A reasonable portion of dApp rewards can certainly be shared with the community, but allocating the full amount could create an uneven playing field, making it difficult for smaller dApps to attract TVL as they can’t afford to give such benefit to their staker due to their need to cover their development costs.

Since the primary objective of dApp staking is to financially support dApps in their growth and operations, I would like to better understand whether your dApp genuinely requires staking support for development or if the primary goal is to gain visibility, legitimacy and attract TVL.

I appreciate your time and consideration and look forward to your thoughts on these points.

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More DeFi options increase competition between projects, which is a positive thing from a user perspective.
Thank you for your offer. How much of the revenues will be distributed to users?

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Here’s a brief intro to our core team leaders:

Sean - Contract Lead

  • Extensive experience in UTXO and EVM ecosystems
  • Contributor to Nervos and several other BTC ecos

Jack - Frontend Lead

  • Extensive experience in Web3 frontend development

Yuri - Design Lead
Adam - BD Lead

Thank you for your feedback and support!

2 Likes
10

Thank you for the attention and questions!

The 1st week TVL breaks 1M - while there are over 1800 holders of wstASTR already.

wstASTR is directly exchanged from the ASTR staked by users on both Astar and Soneium, rather than being backed by pre-reserved assets. This ensures that all wstASTR tokens have actual ASTR as their underlying asset, preventing over-minting or uncovered supply.

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The pleasure is all ours sir! Thanks for your support and attention.

Thanks to the great questions sir @pitcoin777

Astake Protocol has undergone a full audit by PeckShield, ensuring its security and reliability. The detailed audit report is available in our user documentation at General | Astake.

Additionally, wstASTR is built on the battle-tested OpenZeppelin ERC-4626 standard, further enhancing its robustness.

For cross-chain functionality, we leverage Chainlink’s solution, adding an extra layer of security https://x.com/chainlink/status/1887668247425917355

Currently $1.14M - we also have the data presented at our site.

  • We share the same vision of empowering users to participate in dApp Staking, support the ecosystem, and earn attractive yields. More options for users only strengthen the ecosystem.

  • As outlined in our key future plans, our primary focus is on Liquid Staking itself, ensuring the highest levels of security, reliability, and cross-chain flexibility.

  • What sets us apart is our ability to maximize APR for users.

    • dApp Staking reward of Astake will be used for the growth of wstASTR including as incentives, which will increase the overall APR for Astake users - exceeding the APR of directly staking via dApp Staking Portal.

Thank you for the valuable insights! @Mouthmouth68

We currently do not plan to introduce this feature. As outlined in the dApp Staking Reward Usage section, rewards accumulated through staking on Astake will be reinvested into the growth of wstASTR and the growth of the general ecosystem.

We have carefully studied the dApp Staking Code of Conduct, and we appreciate your insights on this matter. We genuinely agree that incentivizing users solely to increase staked $ASTR would not be fair to other dApps.
However, we believe that using staking rewards to enhance APR within an LST project should be considered an exception - given the unique role that LST projects play in strengthening the ecosystem. This approach aligns with the broader goal of LST projects, which is to support the overall ecosystem by increasing TVL of the eco.

As a newly launched project, We would indeed be grateful for any support from dApp Staking.
Such support would not only assist us in enhancing our visibility but also provide advantages for the broader ecosystem’s development - as we are to allocate the rewards from dApp Staking towards the growth of $wstASTR and the overall growth of the ecosystem.

1 Like
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Thank you sir!

Regarding the rewards accumulated from dApp Staking, our goal is to distribute them to Astake stakers to further attract TVL - while the exact proportion is still TBD, we are open to suggestions on how to best align this distribution with the needs of the ecosystem and ensure mutual growth.

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@Adam_Astake Great! Thank you for sharing this valuable information that allows us to get closer and know more about the project and its leaders.

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This proposal makes a strong case for Astake’s inclusion in Astar’s dApp Staking program. With features like high yield, $wstASTR for liquidity, and security audits, it adds value to the ecosystem.

The planned DeFi integrations and multi-chain support are promising, but transparency on rewards and governance would further strengthen trust. Overall,

Astake has great potential to enhance Astar’s staking landscape.

2 Likes
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Hi @Adam_Astake

Thank you for your prompt response.

Regarding your statement:

“We currently do not plan to introduce this feature.”

While I find this disappointing, I remain hopeful that this feature may be integrated into your roadmap in the future.

You mentioned:

“We believe that using staking rewards to enhance APR within an LST project should be considered an exception, given the unique role that LST projects play in strengthening the ecosystem. This approach aligns with the broader goal of LST projects, which is to support the overall ecosystem by increasing TVL.”

In my view, the established rules and Code of Conduct are designed to create a fair environment for all dApps while preventing any potential abuse of the dApp staking system. Therefore, I cannot support making exceptions, even though I recognize the significant contributions of LST projects to the ecosystem as a frequent user of LSTs.

I would like to express my support for the introduction of new LST protocols for Astar and would be pleased to see Astake onboard in dApp staking programm. However, it is essential that all participants adhere to the same rules to ensure fairness within the system.

Consequently, I can not endorse Astake’s application unless there are revisions regarding the intended use of dApp rewards. Specifically, a 100% redistribution of rewards to users through an increase in LST APR is not reasonable to me. It is worth noting that a redistribution of 25-30% is already on the higher end of current practices among existing dApps.

Such a model could create an unfair advantage for attracting stakers compared to other dApps that need to utilize their revenue for development. It may also give the impression that Astake does not require financial support for growth but is instead leveraging the dApp system for visibility, legitimacy, and to attract TVL. These are three practices that the newly established Code of Conduct aims to address.

Additionally, I would appreciate seeing Astake explore options that allow users to choose the dApps they wish to stake on when utilizing Astake LST. While I understand that this is at the discretion of the Astake team, incorporating such a feature into the dApp staking program would be a significant positive development. However, I do not consider it a dealbreaker for onboarding Astake into dApp staking.

Thank you for considering my feedback, and I look forward to your thoughts on these matters.

1 Like
16

Thank you sir for your care and attention!

Regarding your suggestion to allow users to choose which dApp to stake on when utilizing Astake LST - while this feature was not initially included in our plans, we will keep it in mind and evaluate its feasibility in the future should we decide to modify our approach.

On the topic of reward redistribution, we fully understand your concerns, and we are aligned on the principle that redistributing 100% (or a very high percentage) of dApp rewards would not be reasonable. The specific proportion of redistribution remains TBD and we are open to suggestions, and we are carefully assessing an approach that balances user incentives with sustainable protocol growth while adhering to the code of conduct and best practices of the ecosystem!

3 Likes
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Thank you for your comments and insights sir!

We are more than glad to be part of the eco and to add value to its growth.

The details of the reward distribution pattern, including specific proportions, are still TBD as we continue gathering feedback from community. We will be adding all needed information to our documentation and other resources soon to ensure transparency and provide a clearer understanding of Astake’s design.

18

Okay, thank you for the feedback. I’d like to ask a few more questions:

  1. What does the team think are the advantages and disadvantages of this project compared to competitors?

  2. Currently, the market conditions aren’t very good. Are there any factors that might improve the situation soon? What strategies or plans does the team have to address this issue?

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On the other hand, I do understand your functionality, and not allowing the selection of dApps at the beginning is part of your project—you have the choice of how to implement and execute it.

However, I’d like to point out that instead of staking for the core contributors, it would be more beneficial for the ecosystem to stake in the community treasury. Just a thought!

1 Like
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Thank you sir for your care and support!

Rather than viewing others as competitors, we see all LST solutions as contributors to a stronger ecosystem.

  • Empowering users to participate in dApp Staking and earn attractive yields.
  • Supporting the ecosystem with more accessible, efficient, and secure staking options.

While other projects offer unique features,

  • Bifrost – Specializes in LST solutions via Bifrost Chain vToken.
  • Algem 2.0 – Introduces xnASTR, a yield-bearing upgrade with voting mechanisms.
  • Neemo – Offers nsASTR, incorporating a points/loyalty system to maximize yield.

our approach is centered on providing a straightforward staking experience with high-yield, multi-chain flexibility and robust security measures.

  • High APR from dApp Staking
  • Liquidity via yield-bearing $wstASTR
  • Multi-Chain Support through CCIP
  • Security with PeckShield audit
  • Extra Yield opportunities through DeFi partnerships
  • Intuitive UI for a seamless staking experience

The current market conditions are a bit challenging, LST projects can certainly support the general eco by

  • Offering incentives for users to lock up more ASTR and support the TVL of the Eco
    • We are actively applying for Astake’s listing on dApp Staking, and a portion of the protocol’s rewards will be allocated to user incentives, further boosting APR.
  • Support ASTR’s multi-chain growth by actively explore more opportunities for ASTR LSTs
    • We are in active discussions with DeFi partners on Soneium, including AMMs and lending protocols, with wstASTR integration progressing well. More collaborations and yield opportunities are upcoming.
  • User-Centric Approach – Providing an intuitive UI and seamless staking experience, making it easier for new users to onboard and participate.
    • Our platform is already optimized for usability, and we welcome feedback to refine it further.

Market fluctuations are inevitable, while LST projects can drive long-term value and growth for the ecosystem.