NEET DApp Staking

What is DApp Staking?

DApp staking serves as a key incentive mechanism for developers to build high-quality decentralized applications (dApps). Similar to staking for validators, dApp stakers or nominators can stake their Astar tokens to support specific dApps.

For each block, a portion of the rewards is allocated to dApp staking, which is distributed between the developers and nominators. This creates strong incentives for developers to build apps on Astar and for nominators to support them through dApp staking.

Unlike traditional methods where developers rely on grant programs or fundraising, dApp staking provides developers with a basic income as long as their dApp is nominated. As a specific dApp becomes more popular and attracts more nominators, developers receive a larger share of the block rewards.

How to Use DApp Staking

1. Acquire Astar Tokens: Purchase Astar tokens ($ASTR) from exchanges such as Binance.

https://www.coingecko.com/en/coins/astar

Create a Substrate-Based Wallet:

Follow the steps to create a Substrate-based wallet using resources like the Polkadot.js extension available [here].

Connect Your Wallet to the NEET DApp:

To access NEET DApp staking, go to the Astar portal and connect your wallet to the Astar network. Then, follow the link to the NEET DApp staking portal: NEET DApp Staking Portal.

Vote & Stake:

Once on the NEET DApp staking page, click “Vote & Stake.”

You will be redirected to this page, where you will need to enter the amount of $ASTR you wish to stake.

After clicking “Confirm,” a prompt will appear asking for your password to sign the transaction with your Polkadot.js wallet. After signing the transaction, wait for a few seconds, and you will be redirected. Once redirected, a confirmation will appear showing that your Astar tokens have been successfully staked.

Congratulations! You have successfully staked $ASTR on the NEET DApp.