Astar Network announces partnership with Binance to launch first-of-its-kind staking mechanism

BlockBeats reported that on July 11, Astar Network officially announced that it is working with Binance to launch a first-of-its-kind staking mechanism.

When users stake through the Binance Simple Earn event, the trading platform will stake Astar Network’s native token ASTR directly to the community treasury in the Astar dApp stake.

Astar Network said that this means that the dApp staking rewards generated by the community treasury through the staking process will increase in proportion to the number of Binance stakes, resulting in higher reward income for the community treasury, and the community can allocate more Unstoppable community grants to developers.