I would like to bring to your attention an important matter regarding the old dApp Staking wallet.
This wallet currently holds 20 million ASTR in accumulated developer rewards from the old dApp Staking system (v1 and v2). These funds represent allocated inflation rewards that developers did not claim before we transitioned to dApp Staking v3 in early 2024. Notably, these funds do not include staker rewards, as those were all claimed. Unfortunately, these developer rewards are no longer claimable.
This substantial amount of unclaimed ASTR presents a significant opportunity for our ecosystem. However, how we use these funds must be a collective decision made with transparency, inclusivity, and alignment with our community’s vision.
Next Steps
I propose that we initiate a community-wide discussion to determine the best use of these funds. Here are some potential considerations to spark the conversation:
Ecosystem Development: Fund new initiatives to achieve Astar Evolution 1.5, advance Astar from Blockchain to Collective.
Treasury Allocation: Transfer the funds to the Community Treasury to be managed and allocated by the Community Council for future use.
Other Ideas: Open the floor for suggestions from the community.
I encourage everyone to share their thoughts, ideas, and suggestions on how we should allocate these funds. Let’s make sure these resources are used effectively to benefit the entire Astar ecosystem.
I am looking forward to hearing your ideas and feedback. Let’s build Astar’s future together!
Hey! Thanks for bringing this conversation to the Astar forum.
I’m not sure if these funds are part of the protocol’s main treasury, but if they’re not, my opinion is simple: transfer those funds to the main treasury.
Once they’re there, proposals can be submitted and approved to use those funds for community-driven initiatives, events, project development, and more.
Sending funds to the treasury for future use is an excellent opportunity to provide grants and attract top-tier projects. However, I align with Gavin Wood’s philosophy: the treasury exists to be utilized, not hoarded – and if used ineffectively, it ultimately penalizes ASTR holders. I believe that burning these tokens could bring significant benefits to tokenomics.
It would positively impact inflation, reduce potential sell pressure, and demonstrate to the community that the value of ASTR is a priority for the Foundation. Considering current market conditions and the concerns raised by our holders about the token price, this approach could reinforce trust and long-term commitment to the ecosystem.
But if the community can’t get behind this amazingly equitable and frankly perfect proposal, then I would suggest using the Astar for a purpose as close to that as which they would have been used if this issue did not exist.
It looks like they were supposed to be claimed by developers. So why not use them to get new projects going on Astar or Soneium? There must be some teams out there looking to build on Astar. The Soneium Spark competition had over 1700 applicants, so there seems to be a desire to build if there is support.
I would suggest that rather than simply sending it to the Treasury, it be used to promote the adoption of ASTR in Soneium. Specifically, I think it would be effective to give it to developers who adopt ASTR in their dApp and use it as an incentive for users in that dApp.
This is a very good initiative taken to include the community in deciding the future of these unclaimed developer rewards. These funds could bring a complete transformation to the Astar ecosystem, provided they are strategically utilized. In the case of using it for ecosystem development, such as funding initiatives for Astar Evolution 1.5 or innovative projects, it might fast-track development and bring in more talent. Alternatively, the transfer to the Community Treasury would allow long-term flexibility and accountability. This is important because it lets the Community Council make future allocations when required for growth.
Or hybrid: invest the funds in a way that would immediately seize some development opportunities and secure for future needs. Whichever direction is taken, it will be of high importance that the decision-making process is transparent and inclusive. The community should be invited to propose their ideas and vote on proposals so these resources serve effectively for the collective benefit of Astar’s ecosystem. Let’s make the most of this opportunity!
Sending it to treasury is good if we don’t have better places to utilize this fund, but right now, Soneium mainet is alive, do we want to have some more campaign to promote Astar in Soneium? I feel that would be better than sending it back to treasury, just like the YoKi events, I think we should have more Astar eco projects involved this time, and using Astar in Soneium!
The best option seems to be to send them to the treasury. I agree with Pitcoin and would prefer to see tokens used in marketing and supporting new projects rather than left in disuse.