Token ASTR marks a first, being adopted by Superchain ERC20 and Chainlink CCIP integration.
Revamped Story:
Astar Network's token ASTR takes a monumental leap, now fully compatible with both Superchain via ERC-7802 and Chainlink CCIP. This unique achievement makes ASTR the first token contract to achieve full interoperability across both renowned protocols.
According to an exclusive press release, this integration equips ASTR to traverse its Polkadot-powered layer 1 on the Soneium blockchain and extend its reach to other Optimism-based Superchain networks like Base, OP Mainnet, and World Chain.
When Optimism's Superchain interoperability goes live, users can effortlessly transfer tokens to any Superchain network with just two clicks, transforming cross-chain operations within the CCIP ecosystem.
This partnership marks one of the first significant collaborations connecting the Polkadot and Ethereum ecosystems. It reaffirms ASTR's mission to become a fully multi-chain asset by fostering connectivity across a myriad of web3 projects.
Thanks to this dual integration, ASTR's token is now a flexible ERC-7802 and Chainlink CCIP compatible asset. The system is fortified by Chainlink's Cross-Chain Interoperability Protocol, which utilizes Decentralized Oracle Networks to ensure secure token transfers across multiple blockchains.
Fueled by Chainlink's CCIP, Astar Network proposes a shift in ASTR's tokenomics model to a fixed supply. Chainlink's CCIP plays a pivotal role in supporting this interoperability, providing ASTR with a secure cross-chain messaging protocol that validates and executes token transfers between different networks.
When a user initiates a transfer using ASTR, the decentralized oracle network first validates the transaction on the source chain. The verified data is then relayed to trigger the corresponding mint function on the destination chain.
The integration also includes CrosschainMint and CrosschainBurn functions, empowering authorized bridges to manage token supply across chains. The role-based access control system ensures that only Chainlink cross-chain contracts are authorized to mint or burn ASTR.
Maarten Henskens, Head of Astar Foundation, praises the union of SuperchainERC-20 and Chainlink's CCIP, asserting it offers a significant advantage for both Astar ecosystem users and builders.
"ASTR serves not only as the native token of Astar Network but is evolving into a core asset across DeFi, gaming, and creative ecosystems. Our goal is to develop it into a true multi-chain utility token, designed to power activity wherever innovation thrives," said Henskens.
In an exciting development, Sony and Astar Network are partnering to launch a 100M token campaign aimed at driving ecosystem growth. The collaboration is poised to bring more opportunities and fuel growth within the Astar Network.
- The unique achievement of ASTR's token compatibility with both Superchain via ERC-7802 and Chainlink CCIP positions it as the first token contract to achieve full interoperability across renowned protocols like Ethereum and Polkadot.
- Thanks to the dual integration with Polkadot-powered Astar Network and Chainlink's CCIP, ASTR's token is now a flexible asset compatible with ERC-7802 and Chainlink CCIP, serving as a native token for Astar Network but also evolving into a core asset across decentralized finance (DeFi), gaming, and creative ecosystems.
- The integration of CrosschainMint and CrosschainBurn functions into the system empowers authorized bridges to manage the token supply across multiple chains, ensuring that only Decentralized Oracle Networks are authorized to mint or burn ASTR tokens.
- This partnership between Astar Network and Chainlink's CCIP proposes a shift in ASTR's tokenomics model to a fixed supply, and the system is fortified by Chainlink's Cross-Chain Interoperability Protocol, which supports secure token transfers across multiple blockchains.
- In an effort to drive ecosystem growth, Sony and Astar Network are partnering to launch a 100M token campaign, which presents more opportunities and fuels growth within the Astar Network, disrupting the crypto, finance, and technology industries with its innovative DeFi solutions and interoperability capabilities.