Astar Foundation, overseeing the development of Astar (CRYPTO:ASTR), has confirmed a significant token burn of 350 million ASTR tokens.

This decision, approved by the community through a governance vote, permanently removes these tokens originally earmarked for parachain auctions.

The move aims to streamline tokenomics and enhance staking rewards by reducing circulating supply.

The burned tokens, previously used in dApp staking rewards, will now contribute to an on-chain Community Treasury for future community-driven initiatives.

Astar Network continues to innovate with its dApp staking v3 feature, fostering a robust ecosystem for decentralised applications across global markets.