🔥 350M ASTR Burn Proposal Passes! ​ 📣 The Astar Foundation has declared a token burn of 350 million ASTR, which is 5% of the initial token supply allocated at genesis. This decision was made following an overwhelming approval in a recent governance vote. ​ Read on for more details ​ 🔥 Token Burn Originally reserved for parachain auctions, these 350M $ASTR are no longer needed due to updates in the Polkadot system. Removing these tokens from circulation is expected to increase the staking rewards for dApp staking community. ​ 🌟 Community Involvement The burn was proposed to the community, discussed extensively, and ratified through a governance vote: ​ Discussion: https://t.co/fOlG6mGvxk Vote: https://t.co/HMuNpMZykk ​ 🎁 Rewards Redistribution The 350M ASTR previously used in the first phase of Astar dApp Staking generated 70M in rewards, which will now bolster the onchain Community Treasury to fund future initiatives. ​ 🌐 Looking Forward This token burn is part of a broader strategy to improve ASTR's tokenomics and increase the overall value for the Astar community. The Astar Foundation will begin coordinating and preparing for this burn. ​ Stay tuned for more updates and get ready to see how these changes propel us forward!