Polkadot-based Astar project to distribute $100 million in incentives

The Polkadot-based platform Astar, branding itself as a “hub for decentralized applications,” announced the launch of the Astar Boost Program with $100 million in funding.

Breaking: 2 week after we raise $22M led by world leading investors, we launched $100M Astar Boost Program🎉

We are going to support Astar native DeFi and NFT projects. Some of the amazing Defi projects are rolled out soon. Regarding NFT, I can’t disclose not but stay tuned! https://t.co/1q8UsvNRev

— Sota Watanabe (🌟,🌟) (@WatanabeSota) February 11, 2022

The funds will be allocated, among other things, to rewarding liquidity providers, supporting NFT and DeFi projects, and incentivising smart contract developers.

Current participants in the Astar Boost Program include decentralized exchanges ArthSwap and PolkaEx, as well as Celer Network’s cross-chain bridge cBridge.

The core of the fund will be formed by $22 million raised in a strategic investment round and the project’s native token ASTR.

In December 2021, Astar won the auction for the third parachain slot on Polkadot.

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