05/17/22 —We are delighted to announce that the Compounding Rewards feature is now available on Astar. We launched the feature a little over a week ago on Shiden and we used that time to make sure that the feature was stable and working as intended. We are happy to announce that everything is working as intended and we are pushing the Compounding Rewards live!
What are Compounding Rewards on Astar?
Compounding Rewards are the newest feature on Astar for the Dapp Staking program. The Dapp Staking program is Astar allow developers to do what they love.. developing! By providing developers with a basic income through Dapp Staking! Nominators and Stakers can stake their $ASTR with their favorite projects and be rewarded with different rewards depending on the project. So, Compounding Rewards allows stakers to take those rewards and compound them on top of their initial stake, increasing the amount of rewards they receive because of the now larger stake. Previously stakers would need to claim their rewards (one tx) and then restake them into the same project (two tx). This process was too difficult from a behavioral economic standpoint. We are making the process as smooth as possible with only one tx. You simply need to claim your reward and you’ll see shortly after your stake increase by the awarded amount. Read our full write-up on the feature here.
Compounding Rewards was one of the highest requested features for the dapp staking program. Feedback and ideas from our community is what allows us to make Astar even better!
This is an exciting time to be involved in the Astar ecosystem! With so many amazing features, announcements, and new projects in the coming months. Compounding Rewards is an amazing feature and one that will benefit the Astar ecosystem massively. By reducing the friction and promoting nominators to compound their stake Astars TVL will increase. This attracts more nominators, which attracts more developers. This snowball effect will generate more wealth within Astar and continue to grow the ecosystem.
About Astar
Astar Network is the Smart Contract Hub for WASM + EVM on Polkadot. Since winning its Parachain auction in January 2022, Astar Network has become the top Parachain in the Polkadot ecosystem in Total Value Locked and most Ethereum assets transferred over. Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major layer 1 blockchains. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM — and offers the best technology solutions and financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers to build on top of a secure, scalable, and interoperable blockchain.
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Compounding Rewards now live on Astar! was originally published in Astar Network on Medium, where people are continuing the conversation by highlighting and responding to this story.
