Hello everyone. This is Sota from Astar team. One of the ideas which I am personally excited about and not built yet on Astar is a liquid staking solution like Lido.
The idea is to issue sASTR (stakedASTR or maybe LASTR?) when people stake on dApps through the platform we build.
Then, the platform stakes ASTR on dApps through dApp staking. The core team is going to decide which dApp they will lock ASTR. In the future, it might be interesting to issue a governance token and the governance decides which dApp to lock. Since stakers can get staking rewards through the dApp staking, the platform can distribute the reward to users. It may also be an interesting idea to take a management fee here.
Some challenges
make a smart contract to issue sASTR
The dev can make the contract with Solidity but this contract needs to be deployed on Astar EVM. Since dApp staking is only supported by the Polkadot.js accounts at this moment, we need to connect the Polkadot.js address with Metamask address. This can be possible by using Astar Pass.
sASTR is only for the circulating ASTR tokens. It is not possible to support lockdrop tokens and I don’t have a reason to support the locked ASTR tokens.
Rather than creating new governance token & adding one more token lets give that utility to “Astar” itself just like Polygon gives single “MATIC” token every utility. Astar holders can in future decide which Dapp to support.
Plus could you ensure 30% of reward is perfomance based so that lazy builders dont get incentives for free.
So 30% rewards of dApps are only to be released after lets say periodic review of 3months where if progress is seen, promises achieved then only they get reward otherwise if there are faults, lies, bad builders then all rewards to be distributed among Asrtr stakers & not builder dApps.
It is very important to come up with a model of governance tokens, the correct distribution, functions, incentives for voting, etc.