GM Everyone 
First and foremost, I want to express my gratitude to everyone and projects who worked on creating this proposal and to all those who have taken the time to share their thoughts and insights. It’s inspiring to see such collaboration and commitment to the growth of the Astar ecosystem.
Treasury Management
It is important to make the best use of our treasury instead of leaving it idle. Over the past four years, we have accumulated almost 400 million tokens in the treasury, with much of it remaining unused. This proposal presents a valuable opportunity to deploy these resources effectively for the benefit of the Astar ecosystem.
The “Flying Wheel” Effect for Astar Token
As Soneium grows and succeeds, it becomes increasingly feasible to attract leading Ethereum projects such as Uniswap, AAVE, and Curve. Integrating the Astar Token (ASTR) into these prominent projects would significantly enhance its global recognition and value.
It is worth emphasizing that the reputation of Sony and Soneium has been instrumental in bringing notable applications like Chainlink, Layer0, Across, Circle, Velodrome, Solv or OpenEden into our ecosystem. Currently, nearly 50 projects have committed to listing ASTR within their ecosystems—a number close to surpasse the active protocols in the entire Polkadot ecosystem, all on a single chain. This highlights the strategic importance of Soneium’s reputation.
Attracting New Users
Astar’s growth has been fueled by initiatives such as parachains, crowdloans, and lockdrops, which attracted individuals who believed in the project. Many of these participants have remained loyal, holding onto their tokens for years. However, on-chain activity remains relatively limited. For instance, 30% of the ASTR supply is tied up in dApp Staking, while a significant portion remains on centralized exchanges.
All current ASTR holders are expecting an increase in the token’s price. However, this additional buying power will not come from existing holders, as they are unlikely to purchase more tokens. Instead, it must come from individuals outside our ecosystem. Most of the current participants entered through token distributions during lockdrops and crowdloans. This new incentivization would not only attract fresh interest but also bring in new holders of ASTR.
Additionally, with the higher multiplier for ASTR tokens, this campaign offers existing ASTR holders a fantastic opportunity to actively use their tokens on-chain. They can benefit from the campaign without needing to buy new tokens to participate, unlike other crypto users.
Justifying the Budget
Allocating 100 million ASTR to this campaign is reasonable in my view. Although it represents a substantial portion of the treasury, these funds are currently underutilized. Comparatively, other major ecosystems (Layer 1 and Layer 2) often allocate millions of dollars to similar campaigns. A campaign with only $1 million in rewards, as suggested by some members, would not achieve the desired impact, particularly in today’s competitive market in Q1 2025. Abstract, Monad, Movement, Unichain, or Ink chain are all launching this quarter.
That being said, we could optimize our approach by utilizing the 20 million unused ASTR tokens from the Old dApp Staking Wallet. This could reduce the direct contribution from the treasury to 80 million. Alternatively, these tokens could be burned to create scarcity, increase visibility, and demonstrate our commitment to reducing supply while stimulating on-chain activity.
Conclusion
This campaign is a unique opportunity to establish ASTR as a key asset within Soneium. It aligns with our growth objectives and addresses the need for enhanced on-chain engagement. I fully support the proposal but recommend that we also consider the following:
- Utilize the 20 million unused tokens from the Old dApp Staking Wallet as part of this campaign to reduce the treasury’s direct contribution to 80 million.
- Burn the 20 million tokens to create scarcity, generate visibility, and highlight our commitment to reducing the token supply before launching the campaign.
Open to other thoughts. 