Astar Foundation to Burn 350M ASTR Tokens
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Astar Foundation, the lead organization for Astar Network development, has announced a token burn, which will permanently remove 5% of the ASTR genesis allocation, comprising 350M ASTR tokens. The tokens were originally set aside as a parachain auction reserve, but are no longer required due to upgrades to Polkadot. The Astar Foundation’s proposal was ratified after a governance vote, and the 350M ASTR reserve was used during the first phase