Thread by @MatosFranze

1/15

🧵Today we'll talk about @AstarNetwork Build2Earn initiative!

This innovative concept helps developers get paid through a dApp staking mechanism for the code they write and the dApps they build, promoting sustainability in Web 3.0

#AstarNetwork #Build2earn #dAppstaking

2/15

Why Build2Earn?

✅There's a scarcity of developers in the market, especially in Web3.
✅Limited talent pool slows down innovation
✅Lack of funding options for developers early-stage ideas
✅High costs associated with dApp development & deployment

3/15

What is the core principle of Build2Earn?

This initiative focuses on providing developers with a sustainable income stream through dApp staking, encouraging innovation, and fostering a thriving ecosystem for the development of cutting-edge Web3 applications.

4/15

As more developers build on @AstarNetwork , the ecosystem benefits from better dApps, attracting and retaining more users.

✨This network effect creates value for all stakeholders, driving the growth and adoption of Web3 technologies.

5/15

dApp Staking is a truly unique mechanism compared to traditional staking in other Proof of Stake networks.

✅Focused on supporting dApp developers, not just validators
✅Enables community-driven support for dApps through nominating tokens

6/15

✅Connects developers, dApp users and stakers in a symbiotic relationship
✅Developers receive a basic income, enabling continued growth and improvement of dApps
✅Rewards are distributed based on performance and community support
✅Drives Web3 innovation and adoption

7/15

How does the dApp staking mechanism work?

✅Astar have a Inflation rate, set to maintain network security and incentivize participation
✅A portion of block rewards is allocated for dApp staking
✅Rewards are split between dApp developers, validators and stakers

8/15

✅Tokens are distributed to dApp developers based on performance and community support
✅As dApps gain popularity, more community members nominate them, increasing rewards for developers
✅This self-sustaining cycle ensures long-term support and growth for the ecosystem

9/15

Let's dive into the current state of Astar`s dApp Staking:

✅Total Value Locked (TVL) in dApp Staking 3.24B ASTR ($218.5M)
✅Stakers Rewards APY is 11.5%
✅33 dApps have been accepted into the BuildtoEarn/dApp staking program so far

10/15

🦍One effective use case of dApp staking is @AstarDegens the largest NFT and Venture Capital DAO project on @AstarNetwork

✅Astar Degens is the 5th project with the highest TVL in dApp Staking
✅191M ASTR staked
✅2848 unique stakers
✅Past Month income: 386k+ ASTR

11/15

@AstarDegens Venture capital DAO decides by votation to distributes dApp staking rewards following this model:

50% goes to Astar Degens NFT holders
20% to Astar Degens dApp stakers
30% to their treasury.

12/15

✅With dApp staking, @AstarDegens use rewards to grow their treasury

✅In addition to rewarding its holders and stakers

✅This fosters growth and rewards community members while supporting new projects in the Astar ecosystem

13/15

Another use case is @starlay_fi lending protocol and the 6th largest TVL in dApp staking

They recently announced a buyback operation of their LAY token with 100k ASTR from dApps staking rewards, boosting the overall value of the LAY token

https://twitter.com/starlay_fi/status/1637060940159131648

14/15

@starlay_fi will continuously execute buyback operations to ensure project sustainability and provide basic income to developers.

The timing and amount will vary, but it shows the potential of dApp staking to support Web3 projects and communities.

15/15

#Build2Earn is the cornerstone of Astar Network's mission to revolutionize the internet.

A vital mechanism for the growth and sustainability of the @AstarNetwork ecosystem.

Paving the way for a brighter future, where technology empowers developers and communities.

@0xgoku_ hey legend see if it better. Ty 0/

@AstarNetwork @threadreaderapp unroll