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Astar Network Partners with Alchemy to Stoke Web3 Development on Polkadot

Story Highlights

The newly inked partnership is designed to unlock new opportunities and incentives for dApps and dApp developers, helping drive Web3 development momentum within the Polkadot ecosystem.

Polkadot-based project Astar Network has unveiled a fresh partnership with Web3 development platform Alchemy. Through this new initiative, developers will be able to access Alchemy’s Supernode API to build advanced decentralized applications (dApps) and implement functionalities that were previously unavailable across Astar and Polkadot.

According to Sota Watanabe, the Founder and CEO of Astar Network, “Supporting the developer ecosystem is one of Astar’s core values, and our collaboration with Alchemy will help bring even more incentives and innovation to the community. Our collaboration will provide the resources needed to grow the builder community in Web3 on Astar, Polkadot, and beyond.”

How Will the Astar and Alchemy Collaboration be Beneficial?

Astar Network bridges layer-1 blockchains Ethereum and Cosmos with Polkadot, creating greater connectivity opportunities between the networks. With Alchemy Supernode, the most widely used Web3 API, Astar can bridge other chains like Polygon, Arbitrum, and Solana to Polkadot, unlocking several new opportunities for developers.

Besides simplifying the process for developers to build a wide range of decentralized applications on Polkadot’s primary parachain, Astar Network, it will also enable developers to leverage Alchemy’s advanced monitoring and analytics capabilities to achieve maximum scalability. 

In addition to the Supernode API, this collaboration will also expand to support Astar Network’s #Build2Earn initiative, a recently launched dApp staking initiative for Astar and Shiden (Astar’s sister network on Polkadot’s sister network Kusama). The #Build2Earn project enables users to stake their tokens in dApps they prefer and earn staking rewards in return.

Through the #Build2Earn model, a portion of the total rewards from each successful block will be split between the dApp developers and the users who have staked their tokens in the dApps, thereby creating a circular incentive for the entire community.

“The idea is about distributing basic income for developers based on their performance from the block rewards,” notes Astar Network’s CMO Valeria Kholostenko.”It is one of the unique features that Astar offers. It is already available on mainnet, and dApp developers in our ecosystem can earn tokens while making smart contracts.”

Astar and Polkadot Continue to Maintain Network Usage Growth

Despite the downturn in cryptocurrency prices, Astar and Polkadot have maintained their respective growth, especially regarding developer activity and network usage. The latest report from blockchain analytics firm Messari indicates that development activity on Polkadot surged during the second quarter of 2022. 

Earlier in January, the Astar team raised $22 million from industry leaders like Alameda Research, Polychain Capital, and Polkadot creator Dr. Gavin Wood, among others. Currently, the total value locked in Astar is slightly over $55 million.

Alchemy, on the other hand, has been continuously working on expanding the functionalities of its Web3 developer platform. Led by CEO Nikhil Viswanathan, Alchemy raised $200 million in equity earlier this year, expanded to the Solana ecosystem, and most recently announced a $25 million grant program for Web3 developers.

On joining forces with Astar, Rob Boyle, Head of Product at Alchemy, concludes, “Alchemy infrastructure makes it easier for developers to build any dApp with infinite scalability, accuracy, and reliability. We are excited to join forces with Astar to advance an era of better web3 building that will power the decentralized applications of tomorrow.”

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