Astar, which won Polkadot’s third auction by raising approximately 10.3 million DOTs, corresponding to $184 million, announced that it has received a total of $22 million in strategic investments from several companies, including Polychain and Alameda Research.
Officially on January 17 Launched Astar Network, January 28 announced that they will use the proceeds from the funding round to spread around the world.
Also in the financing round; Alchemy Ventures, Animal Ventures, Crypto.com Capital, Digital Finance Group, GSR, Injective Protocol and Scytale Ventures took place.
Japan-based Astar Network, formerly Plasm Network, offers the Ethereum Virtual Machine, WebAssembly for decentralized application staking and supporting layer-2 solutions It is a Polkadot application layer. Polkadot’s main Relaychains do not support smart contracts, in which case Primer kicks in provides this support for smart contract developers.
In addition, Astar Network is supported by the “Build2Earn” protocol so that developers can create smart contracts or infrastructure.
Developed for five years, Parachain projects are blockchains that run in parallel with the Polkadot ecosystem.