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Starknet Foundation will distribute 20 million STRK tokens to top projects.
The Catalyst program rewards the best-performing 21 projects with $25.2 million in tokens.
Grants aim to accelerate innovation in Starknet’s Ethereum Layer-2 scaling solution.
Starknet Foundation announced it will distribute 20 million Starknet (STRK) tokens to the most advanced projects on the network. Under the new Catalyst program, the Starknet Foundation will distribute STRK tokens worth approximately $25.2 million to the 21 best-performing projects in the ecosystem. According to Starknet Foundation CEO Diego Oliva, the program chose to reward the best protocols users encounter based on multiple factors evaluated by an independent third party alongside the Stark Foundation.
Starknet Team’s Incentive Program
The grant program aims to accelerate innovation in Starknet’s zero-knowledge roll-up technology-based Ethereum Layer-2 scaling solution. The grants will be divided into two categories, separating advanced projects from new projects built on the network.
Among the top six best-performing projects eligible for grants are Ekubo, a token launch platform; AVNU, a DeFi protocol with fee-free trading; Influence, a large on-chain strategy game; Realms, an on-chain game universe; and Nostra.
Web3 games continue to be one of the leading new use cases for Starknet, which will continue to build high-speed infrastructure with low transaction fees. Oliva explained this topic with the following statements:
“Starknet has rolled out and will continue to roll out a series of upgrades focused on improving transaction speeds, reducing latency, and lowering transaction costs. This benefits on-chain games as well as another application group where Starknet has achieved great success: DeFi applications.”
Details on the Subject
Oliva hopes to see the grant program trigger more creative blockchain use cases on the network beyond gaming and decentralized finance (DeFi). According to L2beat, Starknet stands out as the seventh-largest Ethereum Layer-2 network with a total value locked (TVL) of over $1.08 billion and a market share of 2.32%. Ethereum Layer-2 networks hold assets worth over $46 billion in cumulative TVL.
The new funding program for developers comes three weeks after the Starknet Foundation announced a $5 million seed grant program aimed at supporting at least 200 promising teams, each with 25,000 USD Coin, and providing a final step to help launch late-stage projects on Starknet. The Starknet Foundation also plans future grant programs under the Catalyst program.
