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Cryptocurrency News Articles

Astar (ASTR) Unveils Astar Surge Campaign to Accelerate Soneium Integration

Dec 13, 2024 at 09:00 pm

Astar (ASTR), the cross-chain Web3 collective network, has unveiled Astar Surge, an innovative pre-deposit campaign set to accelerate the integration with Soneium

Astar (ASTR) Unveils Astar Surge Campaign to Accelerate Soneium Integration

Astar (ASTR) has announced a collaboration with Soneium to launch Astar Surge, a pre-deposit campaign designed to accelerate the integration of ASTR tokens with Soneium's Ethereum (ETH) Layer-2 (L2) solution, as revealed in updates shared with Finbold on Friday, December 13.The campaign will pave the way for a successful mainnet launch for Soneium.Launching on December 18, the campaign will enable ASTR token holders to earn rewards and contribute to the expansion of Astar's Web3 ecosystem.Astar Surge campaignDuring the Astar Surge campaign, ASTR holders can deposit their tokens into specific contracts on the Astar Layer-1 (L1) network. By engaging with each Soneium decentralized application (dApp), token holders will earn points.These points can then be redeemed for new project tokens during token generation events (TGEs). The scheme aims to reward early adopters for their role in boosting ecosystem growth and adoption.Commenting on the platform's efforts to connect people globally with Web3 solutions, Maarten Henskens, Head of Astar Foundation, had the following to say:

“Astar Surge marks a key moment in our mission to connect people to Web3 and bring this technology to billions. By giving our community early access to game-changing Soneium dApps, not only are we accelerating the growth of the ecosystem, but we're also ensuring a smooth transition onto Soneium's infrastructure.”

Henskens added:

“This collaboration highlights our dedication to driving worldwide adoption of the Astar Network and its representative token, ASTR, creating lasting value for all current and future holders.”Astar's collaboration with SoneiumSeveral Soneium projects, including Yay!, Sake Finance, Untitled Bank, SoneX, and Kyo Finance, are collaborating with Astar to implement pre-deposit contracts. These partnerships aim to increase the total value locked (TVL) and provide greater visibility for each project ahead of the Soneium mainnet launch.The liquidity generated through these contracts will ensure the new infrastructure is well-prepared from day one.Astar Network securityThe contracts utilized in the campaign are designed by Sake Finance and have undergone auditing by PeckShield. Through ERC-6551 token-bound accounts, users will maintain ownership of their tokens, which will be held in secure contracts until the Soneium mainnet launch.When ASTR or ASTR liquid staking tokens (LSTs) are deposited, the protocol generates a token-bound smart contract account. This account locks the assets but keeps the associated non-fungible token (NFT) within the user's control.Following the mainnet launch, users will unlock their assets by signing transactions and updating bridge contracts via LayerZero and Chainlink CCIP, among other methods.

News source:finbold.com

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