Motivation
Following the announcement of the transition from Astar zkEVM to Soneium, one of the most frequently asked questions from the community has been about the future direction of Astar and the role of the ASTR token. In this post, we would like to outline the proposed direction and invite the community to engage in an open discussion around it.
Introduction: ASTR’s Utility on Soneium
This thread is being initiated by the Astar Foundation to open up discussions with the Astar Network community and core contributors. Please note that nothing in this proposal is finalized, and any information circulating outside of this forum based on this thread should be considered speculative or false. We welcome your feedback and collaboration as we explore potential paths forward.
As Startale launches into the groundbreaking era of Soneium to ‘Go Mainstream’, ASTR’s pivotal role within this promising ecosystem is undeniable. Our recent WebX and Token2049 events showcased an overwhelming surge of support from builders, all eager to integrate ASTR into their Soneium-based projects. This resounding endorsement from the developer community not only validates ASTR’s immense potential but also paves the way for an exceptionally promising future.
Use Cases for ASTR on Soneium
The following chapter will explain some of the use cases Astar Foundation has already discussed with key partners, ensuring that ASTR is a cornerstone of the ecosystem:
ASTR as an ecosystem asset: Astar Foundation aims to establish the ASTR token as a core ecosystem token among multiple chains as it can encourage deeper collaboration between builders, users, and the wider community. By aligning the interests of multiple stakeholders—developers, users, investors, and liquidity providers—ASTR aims to become one of the symbols of participation and value creation within the Soneium ecosystem.
ASTR as a DeFi asset: will play a crucial role as a primary routing asset in the Soneium decentralized finance landscape. By ensuring robust liquidity in ASTR pairs with key assets like WBTC, ETH, USDC, and LST/LRTs, ASTR will emerge as one of the most important assets in Soneium’s DeFi protocols. This includes expanding its utility as collateral for stablecoins, perpetual, and lending markets, as well as enhancing its role in broader DeFi operations.
ASTR as a Currency in Consumer Applications: ASTR and stablecoins using ASTR as collateral will be positioned as a key pricing asset across various applications within the Soneium ecosystem. Startale has already kicked off the implementation of these functions. By integrating ASTR into these use cases, we aim to strengthen its pricing power and make it a foundational token for transactions and value exchange throughout the ecosystem.
ASTR in Enhancing Soneium Infrastructure Security: In partnership with key players, we are exploring ASTR as a key asset for bolstering the security of core network infrastructures, for example, LayerZero’s decentralized validator networks (DVN). Or AVS on EigenLayer. This will add an extra layer of security to Soneium’s critical interop infra, increasing the token’s utility in maintaining network reliability and security.
These examples are just the beginning. As the ecosystem grows, we anticipate even more innovative use cases for ASTR, which will contribute to Soneium’s success.
Innovative Incentive Programs
Recognizing the challenges associated with buybacks, particularly from our experience with Astar zkEVM, we are exploring alternative strategies focusing on long-term value creation for ASTR. One such strategy is the introduction of an Astar Foundation-specific campaign on Astar Network and on Soneium testnet.
In coming weeks, Astar Foundation is launching the LFGM (Let’s Fearlessly Go Mainstream) campaign in partnership with some of the most innovative dApp teams building on Astar and Soneium. If you’re curious about how dApps can use ASTR to unlock real value, the various utilities of ASTR, and future benefits from holding, then this campaign is for you.
The LFGM campaign is a multi-dApp experience that showcases top-tier projects—including long-time Astar builders and new arrivals from Soneium. These projects are all utility-driven teams and have been carefully selected to demonstrate how they utilize the Astar native token, ASTR, on Soneium - to push the space forward when it comes to decentralized applications. A campaign where anyone can participate, from web3 users to general users who want to learn more about Astar’s usages in the Soneium ecosystem.
More information about this campaign will be released closer to the launch. The Astar Foundation has completely funded and organized it.
Soneium’s Ecosystem Asset:
Soneium is an Ethereum layer 2 which doesn’t have a native token. Therefore, we will establish ASTR as one of the key ecosystem assets in the ecosystem. This strategic positioning will undoubtedly catalyze its utility and value, cementing ASTR’s status as an indispensable force driving the ecosystem’s expansion and success.
Strengthening dApp Staking and Ecosystem Growth
dApp staking is a fundamental feature of the Astar Network, and while Soneium will not have a direct equivalent, projects will be able to leverage Astar’s dApp staking capabilities through third-party messaging bridges. This integration is already in progress, with two projects committed to using this feature on Soneium, and more are expected to join. When users engage in dApp staking within the Soneium ecosystem, they will actually be interacting with the Astar Network through these bridges, ensuring seamless functionality across both platforms.
Cleansing the dApp Staking Platform:
To ensure the continued success and relevance of ASTR, Maarten (Head of Astar Foundation) wants to propose a proposal to undertake a thorough review of the dApp staking projects. Only those that bring real value to ASTR will remain part of this unique staking mechanism. This “house cleaning” will involve strong due diligence and proposals to delist underperforming projects, ensuring that ASTR continues to thrive within the ecosystem.
Since the Astar Foundation must remain neutral, we will establish a ‘DAO Collective’ to spearhead this initiative. To form this collective, we will launch an open application process where anyone can apply to participate in this first task. All applications will be reviewed by a selection committee organized by the Astar Foundation, and this process will be conducted transparently on the forum. Over time, this collective will evolve into the Astar Network DAO Collective, playing a crucial role in strengthening Astar’s position in the market. The Foundation envisions this collective becoming a key decision-maker in the upcoming Astar Gov1, overseeing critical areas such as dApp staking, the DAO Treasury, and the forthcoming Ecosystem Fund.
Commitment to Enhanced Communication
We understand the community’s call for clearer communication and are committed to improving this aspect. While more comprehensive communication channels are being developed, we plan to share additional details starting from this forum post. Our goal is to build stronger lines of communication between the Astar Foundation and the community, ensuring transparency and collaboration as we move forward.
Conclusion: A Call to Action
Our strategy is to strongly align with Soneium and its ecosystem. We’re excited about ASTR’s new role, and as such, we want to hear from our community members. We encourage the community to engage in upcoming discussions, start reviewing projects in dApp Staking for potential delisting, participate in the proposed incentive programs, and stay informed as we roll out new initiatives. Together, we can ensure that ASTR not only retains its value but also grows and becomes a key asset on Soneium as the new chain matures and is widely adopted.
The future is bright for ASTR, and with your continued support, we’re confident that it will remain a key asset in this exciting new chapter. Stay tuned for more updates, and let’s continue to build a stronger, more vibrant ecosystem together.
