Astar Network is a layer 1 blockchain where developers can build applications using different programming languages. The cool part is that the decentralised apps (dApps) developed in these different languages are interoperable with each other and the whole Polkadot ecosystem.
ASTR is the network’s native utility token; users can delegate (i.e. stake) their ASTR to developers, and both parties can earn rewards.
Check out our Crypto School article on Astar for a simple run-down on the network. For a more detailed explanation of Astar and insight into the tokenomics of ASTR, you’ll have to read our pro article!
This tutorial will go through how to delegate your ASTR tokens to Astar-based dApps.
Head to https://portal.astar.network/
The first thing you’ll need to do is connect your wallet; as usual, we’ll be going with MetaMask. You also have the option to connect a Polkadot.js wallet; click here for a quick guide on how to set one up.
If this is your first time using Astar, you will need to add the support for this network to your MetaMask. Astar should do this automatically for you, but if you need help doing this manually, you can check out our advanced MetaMask tutorial.
Now when you click on the assets page, your wallet’s balance and list of assets should be visible.
The dashboard page is where you’ll find some general stats relating to the ASTAR network and its native token, including the total circulating supply and the total value locked (in USD) on the Astar network.
First, make sure you are connected to the Astar Network (there’s also the Shibuya Network; Astar’s testnet and the Shiden Network; the Mainnet on Kusama).
At the top of the decentralised apps (dApp) staking page, you’ll see some info like the total value locked in all of the dApps on Astar (valued in USD and ASTR), the current minimum amount that users can stake and the current rate of return/APR for staking.
Staking rewards are distributed at the beginning of the new ‘era’; the ‘blocks until next era’ figure gives an indication of how long is left of the current era.
When you scroll down this page, you’ll see a list of dApps you can stake with.
To stake your ASTR, simply click the ‘stake’ button for your chosen dApp/project. On the following pop-up, enter the amount you would like to stake. After you click the ‘stake’ button, you’ll be prompted to sign the transaction in your wallet.
Managing your stake
Once your ASTR is staked, new options to manage your position will be visible on the dApp staking page.
Auto-compounding rewards: Astar will automatically restake any rewards earned, therefore compounding your rewards. If you want to turn this feature off, simply click the ‘ turn off’ button near the top of your screen, as shown below.
Adding to your stake: Simply click the ‘add’ button for your staking position, and on the following screen, enter how much ASTR you would like to add.
Claiming rewards: as already mentioned, new rewards are distributed at the beginning of every era. Your rewards will automatically be claimed as soon as you hit ‘claim’.
Start by clicking the ‘unbond’ button for your stake.
Next, enter the amount you want to unbond; you can click ‘max to unbond your entire stake. Once you click ‘start unbonding’, you’ll be prompted to sign the transaction in your wallet.
After, you should see an ‘unlocking chunks’ section on your screen.
Without getting too technical, this section essentially indicates the amount of time (eras) left until you can withdraw your tokens. This unbonding period typically takes 10 days on Astar.
When this period is over, a ‘withdraw’ button will become visible, which will allow you to withdraw your ASTR to your wallet.
Disclaimer: THIS IS NOT FINANCIAL OR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.
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