Astar Network, a parachain of the Polkadot network, received $22 million in strategic funding from crypto venture capital firms Polychain and Alameda Research.
- Astar will use the funds for geographic expansion, the company said in a press release on Friday.
- Other investors in the round included Alchemy Ventures, Animal Ventures, Crypto.com Capital, Digital Finance Group, GSR, Injective Protocol, and Scytale Ventures, among others.
- Astar Network is a Polkadot parachain or parallel chain, a framework for connecting different blockchains.
- The main Polkadot broadcast chain does not support smart contracts. Astar provides this support to smart contract developers.
- The Astar network also allows developers to earn tokens to build smart contracts or infrastructure, which supports the #Build2Earn protocol and is paid in ASTR tokens.
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