Algem

Algem is a native liquid staking DeFi dApp atop Astar Network for ASTR users and holders. Astar Network uses nASTR tokens, which are the liquid representation of the staked ASTR tokens. When tokens are staked by users on Algem, they get an equivalent amount of nASTR tokens in return.

Users are able to redeem their underlying ASTR tokens when they return their nASTR tokens. nASTR is pegged to ASTR, and there are plans for nASTR tokens to be listed on DeFi dApps in Astar and Polkadot ecosystems.

Illustratively, nASTR will be traded in pairs like nASTR/ASTR or nASTR/USDC. When staking ASTR tokens with Algem's liquid staking mechanism, users get liquid nASTR tokens on a 1:1 basis. Freshly minted nASTR tokens can be utilized for farming, lending, etc. Staking rewards are distributed according to the dApp staking APR and rules.

Algem's governance token is ALGM and will be used in the following ways:

• As additional incentives
• For staking
• Voting for the partners to provide liquidity
• Voting on upgrades