Astar Network Unveils Evolution Phase 1 with Soneium Conversion

Astar Network has announced the start of Phase 1 of its evolution, which involves migrating Astar zkEVM to Soneium, an Ethereum Layer 2 (L2) chain developed in collaboration with Sony Block Solutions Labs, a joint venture between Sony Group and Startale. According to astar.network, this strategic move is aimed at aligning with Astar Network’s mission to connect users to Web3 and create greater value for the community.

Soneium’s Vision

The transition to Soneium is not simply a rebranding, but a strategic partnership with Sony Group, a global technology leader. By leveraging Sony’s extensive user reach, Astar Network aims to bring Web3 technology to a wider audience, thereby enhancing the ecosystem of the ASTR token beyond current expectations.

“We believe that migrating Asta zkEVM to Soneium L2 is the right step forward to expand the ecosystem and accelerate mass adoption on the chain,” said Sota Watanabe, CEO of Startal and founder of Asta Network.

The Future of Astar Ecosystem and Assets

The growth of Soneium L2 is expected to have a positive impact on the Astar ecosystem, particularly in six key areas:

1. Capturing value through sequencer revenue: Revenue generated from Soneium’s on-chain activities will be reinvested in Astar and future product development.
2. ASTR Utility Extensions: Soneium L2 will be part of the Superchain initiative, making ASTR interoperable with other major ecosystems based on Chainlink CCIP.
3. ASTR Application Extensions: The Astar Foundation will continue to focus on expanding the utility of ASTR across Soneium.
4. Future rewards for ASTR holders: Potential benefits for ASTR holders through future initiatives.
5. Liquidity provision and incentives: Shared liquidity pools on Soneium’s DeFi platform provide high-yielding mining rewards.
6. Staking Program: DeFi Liquid Staking project welcomes ASTR users to stake their tokens on Soneium L2.

Other Key Benefits

The transition to Soneium L2 aims to create a win-win scenario for both Astar Network and the community. Key benefits include:

• Leveraging Sony’s Ecosystem: It offers unique opportunities across a range of industries, including gaming, entertainment, and finance.
• Strengthening the community: There are more opportunities for the existing user base to engage with new projects and dApps.
• Astar Network L2 Innovation: Integrated with Polkadot and Soneium L2 for innovative cross-chain applications.

Implementation of the technology to migrate Astar zkEVM to Soneium L2

The transition will be implemented through a carefully planned technology strategy with minimal disruption to users and developers. Key steps include:

1. User and Builder Guide Released: Clear instructions for migrating to Soneium L2.
2. Deposit Disabled: Prevents new assets from being connected to Astar zkEVM.
3. Increase batch/sequencing interval: Reduce operating costs.
4. Gradual closure: Monitor remaining liquidity and determine the optimal time for full sunset.
5. Strengthening security measures: Increase gas drain to prevent spam transactions.
6. Community Education and Communication: Implement a comprehensive communications plan for the rebranding process.

Strategic initiatives to drive value

Several strategic initiatives are needed to ensure the success of Astar Evolution Phase 1.

• Liquidity provision and incentives: Building a shared liquidity pool on Soneium’s DeFi platform.
• Staking Program: DeFi Liquid Staking project for ASTR users.
• Joint marketing campaigns: Joint marketing campaign to highlight the benefits of using ASTR.

Astar Network’s Technology Roadmap and Milestones

The roadmap for the second half of 2024 focuses on:

• On-chain governance: Integrate the governance model into the Astar runtime.
• Polkadot-SDK improvements: Incorporates new and improved features.
• Safety and emergency handling: Integrates the trading pause and safe mode palettes.
• Asynchronous backing testing and integration: Optimize block production and reduce latency.
• Core Time Testing and Integration: Improve overall performance and efficiency.
• Studying a new JAM model: Potentially shortened transaction confirmation times.

“By working with Soneium and transitioning the Astar zkEVM, we are creating a stronger ecosystem to drive innovation and adoption in the Web3 space,” said Maarten Henskens, Head of the Astar Foundation.

conclusion

Astar Evolution Phase 1 is a strategic move to ensure that Soneium’s activities add value to the Astar Network and tokens. The Astar community and stakeholders are expected to be rewarded for their continued support in this transformational journey.

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