Astar Network Launches Pre-Deposit Campaign ‘Surge’ to Accelerate Ecosystem Growth

With the launch of Astar Surge, Cross-chain web3 collective network Astar has introduced its Pre-Deposit Campaign, which is intended to speed up the integration process with Soneium. With the launch of this initiative on December 18th, holders of ASTR will have the option to earn incentives while also contributing to the expansion of Astar’s web3 ecosystem.

Holders of ASTR tokens have the ability to deposit their tokens into dedicated contracts on Astar’s Layer 1 network as part of the Astar Surge initiative. Participants will get points for each Soneium decentralized application (dApp) that they participate in by doing so. These points may be redeemed for project tokens at a later time during their respective Token Generation Events (TGEs), which provides early adopters with a tangible incentive to participate.

Maarten Henskens, Head of Astar Foundation stated:

“Astar Surge represents a significant milestone in our mission to connect people to web3 and bring this technology to billions. By empowering our community with early access to groundbreaking Soneium dApps, we’re not only accelerating ecosystem growth but also ensuring a seamless transition to Soneium’s infrastructure. This collaboration underscores our commitment to driving global adoption of the Astar Network and its representative token, ASTR, creating lasting value for all current and future holders.”

In preparation for the launch of the Soneium mainnet, key Soneium projects such as Yay!, Sake Finance, Untitled Bank, SoneX, and Kyo Finance are working together with Astar to deploy pre-deposit contracts. These contracts will provide each of these projects with higher Total Value Locked (TVL) and enhanced visibility. By ensuring that liquidity is easily accessible for migration to Soneium’s infrastructure, the Pre-Deposit Campaign will build the basis for a thriving ecosystem from the very beginning of its existence.

PeckShield, a top blockchain security organization, is responsible for auditing the contracts that Sake Finance has designed for the Pre-Deposit Campaign. Security is a fundamental component of the campaign. Through the use of ERC-6551 token bound accounts, the system guarantees that users will continue to be the owners of their tokens while also supporting a smooth transfer to Soneium’s mainnet. A token-bound smart contract account is formed whenever an ASTR or ASTR LST is deposited. This account locks the assets until the mainnet launch occurs. In order to ensure that ownership is maintained throughout the process, the NFT that is associated with the account is kept in the control of the user.

Once the Soneium mainnet has been launched, users will be able to unlock their assets by signing a transaction that will update the bridge contract. This will be accomplished via the use of interoperability protocols such as Chainlink CCIP and LayerZero. This makes it possible to bridge assets to Soneium in a smooth manner and deposits into selected protocol contracts, all while being directed by tailored logic, resulting in a transfer that is both safe and efficient.

As a result of pre-deposit contracts that are aimed to provide a solid basis for the forthcoming Soneium mainnet, ecosystem initiatives will reap the benefits of improved visibility and liquidity. To ensure that participants remain informed and involved during the duration of the campaign, regular community updates, which may include project highlights and interactive AMA sessions, will be provided.

Following the announcement that Astar will be expanding its operations to Soneium’s Superchain ecosystem and becoming a chain-agnostic web3 service provider, the Pre-Deposit Campaign was launched. One of the first stages toward accomplishing this objective will be to make the ASTR token accessible on Soneium’s Ethereum L2 network. This will pave the path for a successful launch of the Soneium mainnet.

About the participating projects

• Sake Finance: Sake is designed to simplify the process of decentralized finance by providing users of Astar with opportunities for yield farming and asset swaps that are both simple and interesting.
• Yay!: Web3 is given a social and entertaining twist by mixing community-driven features with decentralized finance on Soneium by Yay! 
• Untitled Bank: Untitled Bank is working to make Soneium a more welcoming place for financial transactions by providing services like as lending, borrowing, and staking to all participants participating in the ecosystem, including those who possess ASTRs.
• SoneX: SoneX is making it simple to trade tokens in a secure and quick manner, all while increasing the amount of liquidity and scalability inside Soneium’s expanding ecosystem.
• Kyo Finance: Kyo Finance is a platform that provides users with powerful DeFi features, such as leveraged yield farming and staking, which are accessible for the ASTR token. Kyo Finance assists users in making the most of their wealth.

One may connect to web3 via Astar Network, which serves as the leading gateway for initiatives spanning companies, entertainment, and gaming in Japan and beyond. This network is also responsible for promoting worldwide acceptance and delivering web3 to billions of people. Astar, which is powered by Polkadot, makes use of a multi-layered technology stack in order to provide blockchain solutions that are entirely configurable and support both EVM and WASM. Through the utilization of this powerful framework, Astar has the ability to hasten the global spread of web3 technology.

Soneium is an Ethereum Layer 2 solution that was developed by Sony Block Solutions Labs. Astar recently made an announcement on the transition of Astar zkEVM to Soneium. Because of this shift, web3 experiences will be made available to a larger audience, therefore bridging the gap between web3 users and web2 users in a smooth manner.

For more information, visit Astar’s: Official Website | Twitter | Discord | Telegram