Starknet Unveils $25M Token Incentive for Leading Projects
The Starknet Foundation has revealed plans to allocate 20 million Starknet (STRK) tokens to the most developed projects within its ecosystem. This initiative is part of the newly launched Catalyst program, which aims to distribute around $25.2 million worth of these tokens to the top 21 performing projects in the network. According to an announcement shared with , the selection process for these rewards is based on various criteria evaluated by the Starknet Foundation in collaboration with an independent third party.
Diego Oliva, CEO of Starknet Foundation, elaborated on the selection metrics, stating they considered diverse factors such as Total Value Locked (TVL), Fees Generated, Active Users, External Funding, and Security Audits, among others. These metrics had different weightings to ensure a comprehensive assessment of each project’s impact and potential.
The primary goal of this grants program is to fuel innovation on Starknet’s Ethereum layer-2 scaling solution, which leverages zero-knowledge rollup technology. This advanced technological framework is designed to enhance the ecosystem’s growth and efficiency, providing a solid foundation for emerging and advanced projects.
The grants will be categorized into two segments: one for advanced-stage projects and another for emerging projects. Among the top six high-performing projects that have qualified for these grants are Ekubo, a platform for token launches; AVNU, a DeFi protocol enabling gasless trading; Influence, an intricate on-chain grand strategy game; Realms, a comprehensive on-chain gaming universe; Nostra, a DeFi protocol with plans to launch a crypto super app; and ZKX, a decentralized exchange specializing in perpetual futures.
Web3 gaming remains a prominent and burgeoning application of Starknet’s capabilities. The network is committed to building a robust infrastructure that supports high-speed transactions with minimal fees. Diego Oliva emphasized that Starknet is actively rolling out a series of upgrades aimed at enhancing transaction speeds and reducing both latency and transaction costs, which benefits not only gaming but also DeFi applications.
In addition to gaming and DeFi, Oliva aspires for the grants program to inspire a wide range of creative blockchain-based applications on the network. Starknet currently ranks as the seventh-largest Ethereum layer-2 solution, boasting over $1.08 billion in total value locked (TVL) and securing a 2.32% market share. Ethereum layer-2 networks collectively hold more than $46 billion in cumulative TVL.
This wave of developer funding follows closely on the heels of the Starknet Foundation’s announcement of a $5 million seed grants program. This earlier initiative is targeted at aiding at least 200 promising teams with $25,000 each, providing crucial financial support to help final-stage projects achieve launch readiness on Starknet.
Looking forward, the Starknet Foundation continues to plan additional grant programs under the Catalyst framework. These future initiatives aim to sustain and accelerate the momentum of innovation within the Starknet ecosystem, reinforcing its position as a formidable player in the rapidly evolving blockchain landscape.
24 thoughts on “Starknet Unveils $25M Token Incentive for Leading Projects”
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If theyre relying on external funding as a metric, it totally neglects many innovative, smaller projects.
This is how you build a future-proof blockchain ecosystem. Starknet Foundation is paving the way!
Honestly, this just looks like another way for the foundation to play favorites with certain projects.
Supporting 200 promising teams with $25k each? That’s pure encouragement for fresh ideas and development. Way to go, Starknet!
A well-structured plan to allocate resources effectively. Starknet Foundation is building a solid future for the ecosystem!
The planned upgrades for faster and cheaper transactions are exactly what the gaming and DeFi sectors need. Keep pushing, Starknet! 🎮💸
The Catalyst program is a masterstroke! Fueling the bright minds of tomorrow with the resources they need. Bravo!
Seems more like a way to inflate their token value rather than truly fostering innovation.
The selection criteria are so comprehensive! Ensuring a fair and impactful distribution of resources. Hats off to Starknet Foundation! 🎩👏
Incredible news for the Starknet community! The Catalyst program will push the boundaries of what’s possible in Web3 and DeFi. 🔥
A holistic approach to innovation fuels a better blockchain ecosystem. Way to go, Starknet! 🌍💪
Seeing all these promising projects get the support they deserve is inspiring! Starknet is the place to be!
A big applause to the Starknet Foundation for focusing on both advanced and emerging projects!
Kudos to Starknet Foundation! This is how you support and nurture an ecosystem!
I’m skeptical about all these metrics ensuring a comprehensive assessment. They always seem to miss something. 🙃
How many of these independent third parties are actually independent? Conflict of interest much?
Zero-knowledge rollup technology might be advanced, but what about usability for regular users?
Sure, it *sounds* great, but you know these things often end up favoring a select few…
Web3 gaming on Starknet is going to explode with this kind of support! The future looks thrilling! 🎮⚡
Catalyst program or not, it’s always the big players who benefit. What about the smaller, promising projects?
All these upgrades and high-speed promises, but where’s the proof? Talk is cheap.
Why are they putting so much focus on Total Value Locked (TVL)? That’s such a misleading metric. 📉
The future of decentralized finance is bright with initiatives like this. DeFi protocols on Starknet will achieve new heights!
From DeFi to on-chain gaming, Starknet is truly a versatile platform. These grants will take the platform to new heights! 🎮🏦