Astar zkEVM attracts attention from Japanese companies, future of opening campaign and token design

Astar zkEVM mainnet launch

Astar Network plans to launch the mainnet of “Astar zkEVM”, which is positioned as Layer 2 of Ethereum (ETH), in late February 2024.

Astar zkEVM is a layer 2 solution designed to enhance Ethereum's scalability, developed in partnership with Polygon Labs.

Investors are also paying attention to the introduction of a new mechanism to suppress the supply increase rate through buybacks and burns of the crypto asset (ASTR).

In this article, we will introduce the features and use cases of Astar zkEVM, and how it will enhance the utility of Astar Network's virtual currency ASTR token. We will also explain the details of the launch campaign “Yoki Origins” and the future roadmap, and explore the future of Astar zkEVM.

table of contents

1. Astar zkEVM Overview
   1-1. Utilize Polygon CDK
   1-2. Synergy with Astar Network
   1-3. Increase presence in Japan
   1-4. Emphasize ease of use
   1-5. Key partners of Astar zkEVM
2. Expanding the utility of Astar token
3. Astar zkEVM launch campaign “Yoki Origins”

① Overview of Astar zkEVM

Astar zkEVM is a Layer 2 (L2) scaling solution for Ethereum, and is characterized by providing a smart contract environment equivalent to EVM (Ethereum Virtual Machine).

This means that most of the existing smart contracts, development tools, and wallets for Ethereum will also work with Astar zkEVM.

In addition, among Layer 2 (L2) scaling solutions, Astar zkEVM uses “Zero-Knowledge Proofs” technology to prove the validity of transactions. It reduces the amount of data recorded on the blockchain, increasing transaction speeds while reducing fees.

Zero-knowledge proof is a type of cryptographic proof technology, and is a mechanism in which the prover proves that a claim is true without disclosing any information to the verifier other than that the prover's claim is true. is.

L2 (zk rollup) using zero-knowledge proofs is a process that ensures the reliability and consistency of a blockchain through mathematical methods. It is more fraud-resistant than other L2 solutions (such as Optimistic Rollups) that require sequencer validation and eliminates the need for a challenge period for validation. Therefore, the transaction finality (settlement completion) is quickly reached.

With the above features, Astar zkEVM aims to expand the Ethereum ecosystem and provide an environment that is easier to use for more users and developers.

connection:What is layer 2 of blockchain? Explaining types, points of interest, and typical networks

1-1. Utilize Polygon CDK

Astar Network has partnered with Polygon (MATIC), and the technical elements of Astar zkEVM leverage Polygon's Chain Developer Kit (CDK).

Polygon CDK is an open source code collection that supports developers launching zero-knowledge proof (zk) layer 2 chains for Ethereum, so chains built on top of CDK can interconnect with other CDK chains. The design is easy to implement.

connection:Polygon releases next-generation “Polygon zkEVM” to achieve parity with Ethereum

1-2. Synergy with Astar Network

Source: Astar Network

The Astar ecosystem, which includes both Astar zkEVM and Astar Network, provides companies with the best options when developing products.

The existing Astar Network is built on Polkadot's blockchain technology, enabling interoperability across a wide range of blockchains, high security, and scalability. By supporting not only EVM (Ethereum Virtual Machine) but also other execution environments such as WebAssembly (Wasm), developers can build applications using various technology stacks.

On the other hand, Astar zkEVM leverages Ethereum's rich development resources, libraries and tools, and focuses on layer 2 scalability. Astar zkEVM also has EVM equivalence, making it instantly interoperable with existing chains.

1-3. Increase presence in Japan

Source: Astar Network

In Japan, the environment for new industrial development is progressing, with Web3 being included in the “Strong Policies 2023” announced by the Kishida Cabinet in June 2023. It is expected that domestic intellectual property (IP) and content industries will be revitalized and regional revitalization will be achieved through DAO, and the environment is being developed to promote the use of tokens in order to realize a decentralized digital society. I am.

connection: Prime Minister Fumio Kishida makes a video appearance at WebX Opening | WebX Conference

Sota Watanabe, founder of Astar Network and CEO of Startale Labs, has visited the Liberal Democratic Party headquarters to discuss legal issues in order to promote the expansion of the Web 3.0 industry in Japan.

In rolling out Astar zkEVM, Mr. Watanabe aims to further collaborate with Japanese companies and government agencies, aiming for widespread adoption. Through Astar zkEVM, Japanese companies and local governments are expected to enter the world of Web3, create internationally leading examples, and develop unique Japanese games and anime content into the world.

To achieve this goal, Astar zkEVM aims for widespread adoption of Web3 (decentralized internet) and provides users with easy-to-use social media account logins, gas fee-free transactions, credit card payments, etc. instead of traditional complex wallet logins. It offers friendly features.

In 2024, companies and projects that use Astar zkEVM are being announced one after another, including a male idol group project comprehensively produced by Yasushi Akimoto and Deloitte Tohmatsu's NFT development support tool.

In February, Hakuhodo and Japan Airlines jointly launched the “KOKYO NFT,” which aims to turn special experiences and crafts from six regions into NFTs (non-fungible tokens) and create a related population in the regions using Web3. We have started a demonstration experiment.

More than 40 companies and projects are scheduled to participate in the Astar zkEVM launch commemorative campaign “Yoki Origins” (described below), and further involvement of Japanese companies is expected.

connection:Next-generation idol project led by Yasushi Akimoto and others adopts Web3-based Astar zkEVM

connection:Deloitte Tohmatsu utilizes Astar zkEVM in Japan Sports Agency demonstration project

Last year, Startale Labs, a Web3 development company whose CEO is Sota Watanabe, also announced a joint blockchain development project with Sony.

connection:Sony establishes joint venture with Startail Labs to develop blockchain

He has indicated a policy of strengthening the popularization of Web3 by expanding the Astar ecosystem and collaborating with large companies, and plans to expand into Japan, Asia, and the American market in the future.

1-4. Emphasize ease of use

Astar zkEVM has a highly flexible technology stack for developers and provides a blockchain foundation that makes it easy for Japanese companies to develop practical use cases. Below are some representative examples.

“Account abstraction” is a type of technology that allows wallets to be operated by smart contracts. By leveraging this, developers can provide wallets with various added functions for users.

Key use cases include two-factor authentication, paying and offloading gas bills using various ERC20 methods, signing transactions on your smartphone, setting monthly spending limits for your account, and playing blockchain games. It is possible to implement continuous login using session keys, social recovery of lost wallets, etc.

Astar zkEVM provides a suitable infrastructure for this account abstraction. For example, through Particle Network, developers can easily create smart wallets that can be used within applications.

For example, existing OAuth providers like Google and X (formerly Twitter) can be used to implement features that allow users to easily log in to dApps (decentralized apps).

Astar zkEVM is expected to make it easier to use virtual currency wallets than before, enabling intuitive and flexible wallet operations.

connection:Ethereum implements “smart account”, expected to improve wallet usability

1-5. Key partners of Astar zkEVM

The main use cases for Astar zkEVM are DeFi applications, NFTs, and GameFi. Furthermore, by enabling instant and low-cost transactions, it is expected to be introduced in the fields of corporate applications and payments.

This is because it leverages zero-knowledge proofs to provide better capital efficiency to DeFi dApps and users without requiring long waiting times during deposits and withdrawals. It can also complement Ethereum's composability, providing lower gas costs, faster transactions, and higher levels of security for NFTs, GameFi, and enterprise applications.

Source: Astar Network

The partners that have been announced to date to build Astar zkEVM include projects that build the infrastructure as well as the protocols that provide services for users.

• Quickswap: The largest decentralized exchange (DEX) within the Polygon ecosystem, a platform that allows users to exchange different cryptocurrencies.
• LayerZero: A protocol that enables interoperability between Astar zkEVM and Astar parachains. ETH and ASTR will be transferred via the LayerZero protocol.
• The Graph: An indexing protocol for organizing data on the blockchain and making it more accessible. This allows developers to easily search and incorporate blockchain data into their applications.
• Rarible: A marketplace for buying and selling NFTs (non-fungible tokens), including Ethereum NFTs and Astar zkEVM NFTs. It provides a platform for artists and collectors to trade digital assets.
• Dew: One of the main NFT marketplaces in the Polygon ecosystem, where users can issue, buy, and sell NFTs.
• Startale: Astar's primary Web3 infrastructure provider, providing the underlying technology and tools to support blockchain-based application development.

connection:Aster launches zkEVM version mainnet in late February, announces 6 initial products

② Expanding the utility of Astar token

Source: Astar Network

Originally, the virtual currency ASTR is the native token of AstarNetowrk, and will continue to be used for practical purposes such as staking rewards, network fee (gas fee) payments, and subsidies for projects in the Astar ecosystem.

With the introduction of the new Astar zkEVM, ASTR expands its usage. There are three important new ASTR features added with Astar zkEVM.

First, let's buy back and burn ASTR. Astar zkEVM has the role of a sequencer, which is responsible for ordering, batching, and submitting transactions on Layer 2 to Ethereum Layer 1. The ETH obtained from this activity will be used to buy back ASTR, and those ASTR will be used to burn. Token burn is expected to suppress supply and increase scarcity (ASTR may be added as an option in the future).

Next, there is the role of an aggregator, which aggregates transactions on Astar zkEVM and supports efficient processing. The sequencer pays the service fee to the aggregator in ASTR, and this ASTR is also burned, contributing to the decrease in the supply of tokens.

Source: Astar Network

The third utility of ASTR tokens in Astar zkEVM is dApp Staking. This is a unique feature of Astar Netowrk that rewards developers who develop dApps and build infrastructure with ASTR incentives. Astar zkEVM is also subject to dApp Staking, with a focus on supporting developer and enterprise engagement, especially in the Japanese market.

connection:What impact does “Astar zkEVM” have on the practicality of the virtual currency ASTR?

③Astar zkEVM launch campaign “Yoki Origins”

Source: Astar Network

“Yoki Origins” is the launch campaign of Astar zkEVM. By collecting limited NFTs provided by Astar Network and partner projects and combining them, we will create a gaming experience that will grow Yoki.

“Yoki” is an original character inspired by Japanese Yokai and will be distributed in capsule toy format. Participants use an in-game currency called OMA to spin gachas, open capsules, and “fuse” NFT items to develop their own Yoki.

Source: Astar Network

The campaign will see over 40 companies, creators, and project builders collaborating to offer unique NFTs. In addition, a special manga series and social media content will deepen the world of Yoki Origins and provide content for attendees to enjoy.

Participants will create their own collections based on their usage history of various dApps on Astar zkEVM.

“Yoki Origins” schedule

Source: Astar Network

〇Late February: Advance start period

• Users will be able to mint their first capsule at Astar Yo-Port (gacha: where you get capsules)
• Holders of the “First Edition Capsule” can obtain a special NFT
• Get your first OMA

〇Official launch of the campaign

• Week 1: Partner Yo-Port becomes available
• You can check your “Lore” (points) on the leaderboard

The “Yoki Origins” campaign incorporates a social login function using SNS accounts and an NFT payment function using a credit card, providing a user experience that can be easily accessed even by users who are unfamiliar with virtual currencies.

Astar Network aims to lower the barriers to entry into the Web3 ecosystem and allow more people to experience its potential.

More information about the projects participating in Yoki Origins will be announced soon.

connection:Aster (ASTR) price/chart | Explanation of future prospects and how to buy

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