Astar Network — formerly known as Plasm — is a decentralized application platform that supports the Ethereum Virtual Machine and WebAssembly, making it interoperable with various Layer-1 and Layer-2 blockchain networks. Deployed as a Polkadot parachain, Astar benefits from the Relaychain's security while enabling smart contract functionality at scale. The network's native token, ASTR, pays for transaction fees, and it is also used in on-chain governance and staking.
Astar Network supports decentralized finance apps, nonfungible tokens and decentralized autonomous organizations. Users staking ASTR can nominate applications to receive a share of block rewards generated, creating a powerful incentive for developers to deploy applications on the network. Notable investors in the Astar Network include Hypersphere, Fenbushi Capital, Hashkey Capital and OKEx Blockdream Ventures.