NEET DApp Staking
What is dApp Staking?
dApp staking serves as a crucial incentive mechanism for developers to build exceptional decentralized applications (dApps). Operating similarly to validator staking, dApp stakers, or nominators, can stake their Astar tokens on specific dApps they wish to support.
At every block, a portion of rewards is allocated to dApp staking, dividing it between developers and nominators. This creates a strong incentive for developers to build on Astar and for nominators to support them through dApp staking.
Unlike traditional methods where developers rely on grant programs or fundraising, dApp staking offers developers a basic income as long as their dApp is nominated. As a dApp gains popularity and attracts more nominators, developers receive a larger share of the block reward.
How to Use dApp Staking
Acquire Astar Tokens: Purchase Astar tokens ($ASTR) from exchanges like Binance, Crypto.com.
Create a Substrate-based Wallet:
Follow the instructions to create a Substrate-based wallet using resources like the Polkadot.js extension available here.
Connect Your Wallet to the NEET DApp:
To access the NEET DApp Staking, visit the Astar Portal and connect your wallet to the Astar Network. Then, head to the NEET Dapp Staking following this link: NEET DApp Staking Portal
Vote & Stake
Once you land on the NEET DApp staking page, simply click on 'Vote & Stake'.
You will be redirected to this page where you need to input the amount of $ASTR you are willing to stake.
After clicking "confirm," Polkadot.js wallet will prompt asking your password to sign the transaction. Once you've signed the transaction, you'll need to wait a few seconds before being redirected. Upon redirection, you'll receive confirmation that you have successfully staked your Astar tokens.
Congrats! You have successfully staked your $ASTR on NEET DApp.
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