Astar Network Implements SuperchainERC20 for Seamless Interoperability

Astar Network, a prominent blockchain platform based in Japan, has achieved a significant milestone by becoming the first blockchain to implement the SuperchainERC20 standard for its native token, ASTR. This development is part of a broader effort to address longstanding interoperability issues between networks like Ethereum and Polkadot. The SuperchainERC20 standard enables seamless interoperability across Optimism’s Superchain collective, which comprises dozens of projects dedicated to scaling Ethereum.

With the implementation of SuperchainERC20, the ASTR token can now move fluidly between Astar’s Polkadot-based layer-1, Sony’s Soneium, and eventually all OP Superchain networks. This interoperability is facilitated through Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which is specifically designed for secure token transfers across different blockchains. According to Astar Network head Maarten Henskens, this marks the first real-world example of a secure, standards-based architecture for native cross-chain interoperability, offering a glimpse into the future of how tokens will move across various ecosystems.

Zain Bacchus, a staff product manager at Superchain developer OP Labs, highlighted that ASTR’s interoperability creates an ideal foundation for decentralized finance (DeFi) growth across Ethereum and the Superchain. This development positions ASTR as one of the first bridges between the Polkadot and Ethereum ecosystems, potentially opening the door for ASTR to become a multichain asset with broader utility.

Astar Network, which opened its mainnet to the public in January 2022, is a collective driving Web3 adoption by bridging Polkadot and Ethereum. The network’s native token, ASTR, is used for transaction fees and staking, playing a central role in the ecosystem. However, the token’s value has declined steadily due to the network’s dynamic inflation model. In response, Astar developers introduced changes to the tokenomics in April to reduce inflationary pressure. The base staking reward was cut to 10% from 25%, lowering the network’s projected annual inflation rate to 4.32% from 4.86%. As a result, annual ASTR emissions are projected to fall by 11% to approximately 360 million tokens.

This move by Astar Network is part of a broader trend in the blockchain industry, where platforms are rethinking their token supply models to address inflation and concentrated token ownership. For instance, in January, Multicoin Capital submitted a proposal to transition Solana to a variable-rate emission model, aiming to curb inflation and address concerns around concentrated token ownership. Astar’s efforts to enhance interoperability and manage inflation reflect a strategic approach to sustaining long-term growth and utility within the blockchain ecosystem.

Ask Aime: How will the SuperchainERC20 standard impact token transfer between Astar, Sony's Soneium, and OP Superchain networks?