Treasury Proposal for zkEVM Launch

General
1

Background

As the zkEVM mainnet is getting ready to launch, acquiring new users is key to our success. Since zkEVM has a huge potential, our L2 will be the best place for new users to get familiar with our tech stack. Not only our zkEVM but also unique features such as dApp Staking.

Astar zkEVM is vital to our plans for continuous growth and adoption. Its success will benefit our token holders, investors, community, and builders of all types. You can find more info on how we maximize its impact for our tokenomics <>. We expect this new phase to bring wide attention to our brand and products on both the substrate and EVM sides.

Therefore, we propose to use $1M worth of ASTR from the Astar treasury to reward those who participate in our launch campaign through various methods. At the time of this post, we are holding different levels of discussion with various teams - in and outside the ecosystem - about ways we can further expand our reach and boost the momentum of our Astar zkEVM launch campaign. With this fund, we hope to develop campaigns around, but not limited to:

The main content of the zkEVM Festival, which starts when our public mainnet is launched (still waiting to pin the exact date) is providing high user retention in collaboration with our major partners. To further incentivize the users to bring liquidity or use Astar zkEVM, we are planning to reward ASTR tokens additionally to those who Astar zkEVM.

Therefore, we propose to use $1M worth of ASTR from the Astar treasury for our zkEVM Festival. We only got one shot one opportunity to do it the correct way.

Reward structure

  • Split of Rewards: Rewards will be distributed across various use cases. Each use case will receive a portion of the funds, determined by its reach and impact on Astar zkEVM. The rewards will be categorized into two batches: Rewards & Incentive & Marketing budget etc.
  • Snapshot Mechanism: Snapshots will be taken based on the specific use case to determine eligibility for rewards.
  • Vesting Period: To mitigate potential market volatility, a vesting period of 1-3 months will be applied to the rewards.
    • Rewards Through Astar Portal with Vesting: Recognizing the community’s concerns regarding potential selling pressure from Rewards, we’ve designed a meticulous Rewards strategy. Rewards will be conducted through the Astar Portal - ensuring a smooth and hassle-free experience for our community members
    • Vesting Period to Stabilize Market Impact: To address concerns about market volatility and to maintain the stability of ASTR’s value, we will implement a vesting period of 3-6 months for the Reward rewards as well. This means that rewarded tokens will be gradually released to recipients over this period, preventing any sudden influx of tokens in the market and ensuring a more stable price for ASTR!

Use Cases

Our BizDev team has developed several innovative use cases, ready for implementation! Due to confidentiality reasons, some of these use cases are not for public disclosure at this moment. However, all confirmed and allocated use cases will be detailed in the comments under this post, or they will be shared post-launch for transparency and engagement!

  • Use Case: Incentive DOT holders
    • up to 10% allocation
    • Short description: Astar Network boasts extensive connections within the Polkadot ecosystem. Additionally, many of our investors are likely also DOT holders. Currently, the Polkadot ecosystem faces challenges in demonstrating optimal asset utilization. Recognizing this, we aim to attract DOT holders to Astar zkEVM by offering appealing opportunities in liquidity provision and farming. Our strategy is designed to provide DOT holders with innovative ways to leverage their assets, thereby enhancing their potential returns. By doing so, we anticipate a significant increase in the Total Bridge Volume on Astar zkEVM. This use case not only benefits DOT holders through improved asset utility but also strengthens the overall dynamics of the Astar ecosystem.
  • Use Case: Campaign operational budget
    • up to 20% allocation
    • Short description: Use the budget to cover the fees that were incurred for the preparation of the Astar zkEVM launch NFT campaign currently prepared. The team has been working actively to prepare for this campaign, as the campaign will be featured together with the launch of Astar zkEVM. Some of the notable costs that were incurred include:
      • Technical development of the campaign- both frontend and backend, preparation of a dedicated website
      • Preparation of the creatives that will be featured in the campaign
      • Marketing costs, which include promotion on social media, collaboration between various communities, and preparation of marketing materials associated
      • Preparation of the NFTs for various partner projects who will join the campaign
  • Use Case: Marketing Grants & Support

    • up to 10% allocation

    • Short description: Marketing grants support projects, whether new or existing, that have clear use cases, a defined timelines. Only reserved for capable teams with a proven track record in budgeting, benchmarking, executing marketing campaigns, and delivering tangible results. Project must be live on Astar zkEVM.

      Focus Areas to support:

      1. Digital media expenditures, including Meta, X, Google Ads, Linkedin, and Display ads.
      2. Offline marketing endeavors and events with high impact in Ethereum community.
      3. Enticements for new users and referral programs.
      4. Using external marketing agencies, tools, and services.
  • Use Case: Astar Hackathon prize pool
    • up to 20% allocation
    • Short description: A hackathon/grants program inspired by ‘Build on Base’, a sub-campaign used to attract builders and bootstrap projects in various categories during Coinbase’s on-chain summer campaign. While our critical infrastructure partners will provide a good base and tooling for developers to start working with, this hackathon will incentivize them to build and deploy dApps and tools to provide the community with things to explore and do during the launch phase, and increase overall on-chain activity. Using external marketing agencies, tools, and services.

We are glad to hear your suggestions and ideas regarding more variety of the batch categories!

We only have one shot to make the Astar zkEVM launch successful, let’s do it together!!

28 Likes
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Hi, where can one find more info/details on the tokenomics impact of the zkEVM. I am researching the topic and would appreciate some more detail & clarification.

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Please check zkEVM fees Burn section :pray:

https://astar.network/blog/astr-token-utility-and-value-39387

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4

This is the perfect time to attract more Dot liquidity with the unlock of crowdloan. I want to see if the team has appetite to provide 20% allocation to liquidity providers. This will help Astar and Dot eco…everything else looks awesome!

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Hahacoin will be on zkevm. Any incentives for meme builders?

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Great suggestion about incentives for meme builders on Astar zkEVM! This idea could definitely be a part of our marketing efforts. We value creative community engagement and are considering it seriously. Thanks for this insightful input!!

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Incentives issued directly to the community, like to Meme, is a good idea.

Marketing grants and support, but would additional incentives at DeFi, for example, be included here?
If so, the allocation could be increased.

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Thank you for your question regarding DeFi incentives!
I am glad to confirm that not all of our budget has been allocated yet, and there is definitely room for DeFi incentives in our plan!! DeFi plays a crucial role in our ecosystem, and we fully recognize its importance
While we can’t divulge the specifics of our current deals, rest assured that a portion of our budget is earmarked for DeFi incentives

6 Likes
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This is great! I would like to add: 1. support for memecoin on zkEVM. 2. Collaborating events with other projects on ETH and Polkadot, some joint events to reward and attract users to try Astar zkEVM. 3. What is the timeline for those event and reward, when will we start?

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  1. Noted!
  2. It will be covered though the Marketing Grants
  3. Once the proposal has gone through voting, we will start the execution! Now, I’m working on the management scheme and reporting as well
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I fully support this proposals, more growth more better. Only one concern, that we need to pick the “right” external marketing agency as many of them who boasted many followers but turns out only bots.
Also Hackaton will beeeee good!

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I won’t support shitcoin with Astr treasury. When this proposal will incluede Meme token, I won’t support.

I’m sorry that I can’t allow projects that are not founded by anyone to farm the ASTR community and its treasure.

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Good idea ! I also think that using the treasury to incentivize the use and promote the adoption of Astar is an excellent idea. I am in favor of this proposal :handshake: :smile:

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I support the proposal

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I definitely agree with this proposal incentives for marketing collaborations and hackathon can help considerably for the zkEVM campaign!

Proud of you guys! Good work and well thought out!

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Congratulations on the work done. Like others, I also approve, this proposal will undoubtedly be spectacular.

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Fantastic proposal! Fully onboard with the idea of incentives for marketing collaborations and hackathons for the zkEVM campaign.

Directly involving the community, like with Meme coin, might also be a smart move.

Kudos to the team for the well-thought-out plan and hard work! :clap::rocket:

7 Likes
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I support this as well

I am part of HAHA Coin and our goal is to draw more people to ASTAR ZKEVM through Airdrop incentives

Team comprises of ASTAR DEGEN community members that came up with this project to get ASTAR and rest of L2 communities to engage more with ASTAR ZKEVM and we will incentivise onchain activities with $HAHA coin

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I definitely support the proposal, every great event or launch deserves a huge boost in communications, as well as in incentives to expand the diffusion.

Like @Leo, I do not feel comfortable supporting a proposal that includes memecoins, I know the impact it can have but I feel it is a worthless project.

However, if it will bring us benefits in the long term, it is worth thinking about.

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MEME and Gaming are part of Crypto culture…some people don’t believe in them but it brings in new supporters and rally around the project & eco. Look at Doge, Shib, Pepe and Bonk, all useless but serve a certain market. This memecoin borns out of Astar Eco and the goal is to bring more people into our eco-system.

4 Likes