The Astra Protocol project, which serves as the foundation for Astra Coin, is drawing interest from investors and cryptocurrency enthusiasts due to its unique approach to addressing the legal challenges currently faced by DeFi protocols.
Astra Coin is an emerging cryptocurrency that holds promise in the DeFi sector. Let’s explore this project with AZCoin.
What is Astra Protocol (ASTR)?
Astra is a decentralized compliance solution for cryptocurrency space. With Astra, protocols can comply with many societal regulations without giving up decentralization or putting investors at risk.
What problem was Astra Protocol developed to solve?
The meteoric rise of DeFi shows how important regulatory compliance is to achieving sustainable growth. Most protocols are at a low point on the regulatory front, but they must find a way to adapt. Without a compliance layer, developers and users could lose control of the crypto ecosystem.
Astra is building a regulatory layer of assurance for the entire crypto space. Thanks to Astra’s globally patented technology, DeFi protocols can easily avoid many of the regulatory challenges the space faces.
DeFi protocols can now comply with financial and data privacy regulations without sacrificing the principles of decentralized finance. This is great news for investors, as users can confidently participate in DeFi with minimal risk to their crypto portfolios.
Astra is integrating a decentralized compliance layer into its existing Web3 infrastructure. The move aims to equip DeFi smart contracts with KYC and AML (anti-money laundering) capabilities. Furthermore, the compliance layer can help solve any real-world compliance issues with the help of the Astra Decentralized Legal Network (DLN).
Astra’s on-chain dispute resolution system provides an all-in-one legal framework and assurance, dispute resolution and regulatory compliance for lending and borrowing, derivatives, stablecoins, asset management, decentralized insurance and decentralized exchanges.
This groundbreaking legal framework, the first of its kind, will help drive decentralized finance adoption and create more visibility for the Web3 ecosystem.
Products of Astra Protocol
Astra Protocol offers 4 solutions for DeFi protocols, including:
- Legal Assurance
- Dispute Resolution
- Legal Framework
- Regulatory Compliance
Where does Astra Protocol’s revenue come from?
The project’s revenue comes from providing the following services to customers:
- KYC
- AML
- Verification
Team Astra Protocol
While information about the specific roles and team members seems limited, here’s what I found regarding Team Astra Protocol:
- Founders: Astra Protocol was founded in 2019 by three individuals: Arthur Ali, Damien O’Brien, and Jez Noah Ali. There isn’t much publicly available information about their backgrounds beyond their founding roles.
- Funding: In May 2022, Astra Protocol completed a Series A funding round securing $100 million with a valuation of $500 million.
Astra Protocol does have a presence on social media [đã xoá URL không hợp lệ] but it doesn’t provide in-depth details about the team itself.
Investors Astra Protocol
Astra Protocol has attracted investment from a variety of sources, including venture capital firms, cryptocurrency funds, and angel investors. Here’s a breakdown of some known investors:
- Venture Capital firms: Republic Capital, cFund, Formless Capital, HTX Ventures, Faculty Capital
- Cryptocurrency Funds: LD Capital, Shima Capital, DAO Maker, Moonrock Capital, NewTribe Capital, Master Ventures
Basic information about Astra Coin
- Token Name : Astra Protocol
- Ticker : ASTR
- Blockchain : Ethereum
- Token Standard : ERC-20
- Token Type : Utility, Governance
- Total Supply : 1,000,000,000 ASTR
What can Astra Coin be used for?
- Administration
- Profit Distribution
- Staking
- Payment of service fees
- Get priority service access
Astra Coin storage wallet
ASTR is an ERC20 token, which means there is a wide choice of wallets available for storage with several wallet options:
- Exchange wallets
- Well-known ETH wallets such as Metamask, Myetherwallet, Mycrypto,…
- Hardware wallets like Ledger and Trezor Your training includes information up until October 2023.
You can trade Astra Coin along with some other similar cryptocurrencies like Tether (USDT) or Binance Coin (BNB) at the reputable exchanges introduced on the best crypto exchanges 2024 page.
Roadmap
Q2 2022
- Application pooling & Prioritization Model
- Recruiting more staff
- Expansion of the cooperation network with DEXs
- Building on BSC
Q3 2022
- Recruiting more staff
- Launch Yield Farming App
- IOHK
Q4 2022
- Recruiting more staff
- Expanding Users for Yield Farming App
What is the future of the Astra Protocol project?
Astra Protocol is a protocol that provides solutions to help DeFi protocols comply with legal regulations. Currently, the project has not issued a token. We need to observe the development process of the project to see if they can do what they set out to do.
Conclude
Through this article, you must have somewhat grasped the basic information about the Astra coin project to make your own investment decisions. Under the terms of the indemnity page, AZCoin will not be liable for any of your investment decisions. We wish you the best and hope you gain from this lucrative market.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
