{"id":21463,"date":"2024-05-28T22:00:58","date_gmt":"2024-05-28T19:00:58","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21463"},"modified":"2024-05-28T21:13:41","modified_gmt":"2024-05-28T18:13:41","slug":"starknet-foundation-allocates-25-2-million-in-strk-tokens-to-top-projects","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/starknet-foundation-allocates-25-2-million-in-strk-tokens-to-top-projects\/","title":{"rendered":"Starknet Foundation Allocates $25.2 Million in STRK Tokens to Top Projects"},"content":{"rendered":"<p>The best-developed initiatives on the network will get <strong>20 million Starknet (STRK) tokens<\/strong> from the Starknet Foundation.<strong> The Starknet Foundation<\/strong> will gift the 21 best-performing projects in the ecosystem about $25.2 million worth of Starknet tokens as part of its new Catalyst initiative.<\/p>\n<h2>Criteria for Selection and Project Categories<\/h2>\n<p>According to <strong>Diego Oliva<\/strong>, the CEO of Starknet Foundation, the program has been selected to honor the top user-facing protocols depending on many criteria, which were weighed by the Stark Foundation together with an impartial third party.<\/p>\n<p><em>\u201cWe examined a spectrum of metrics with varying weights, including total value locked, fees generated, active users, external funding, security audits, as well as several other metrics.\u201d<\/em> Based on zero-knowledge roll-up technology, the awards program seeks to spur invention on Starknet&#8217;s Ethereum layer-2 scaling solution. Out of the grants, two categories will distinguish advanced-stage ventures from newly developing initiatives on the network.<\/p>\n<p><strong>Ekubo<\/strong>, a token launch platform; <strong>AVNU<\/strong>, a DeFi protocol with gasless trading; Influence, a totally on-chain grand strategy game; Realms, an on-chain gaming universe; Nostra, a DeFi protocol with an upcoming crypto super app, and ZKX, a decentralized perpetual futures exchange, rank the first six best-performing projects that qualified for the grants.<\/p>\n<p>One of the top developing use cases for <strong>Starknet<\/strong> is Web3 gaming, for which the network will keep developing cheap transaction-cost high-speed infrastructure. As Oliva advised,<\/p>\n<p><em>\u201cStarknet has launched and will keep releasing a set of enhancements targeted at increasing transaction speeds, lowering latency, and lowering transaction costs. This helps on-chain gaming as well as DeFi apps, another category of apps that Starknet finds to be quite popular.\u201d<\/em> Oliva wants to see the funding program inspire additional innovative blockchain use cases on the network, outside gaming, and distributed finance (DeFi).<\/p>\n<p>With almost<strong> $1.08 billion in total value locked (TVL)<\/strong> and a 2.32% market share, <a href=\"https:\/\/coinengineer.net\/blog\/starknet-foundation-launches-5m-seed-grant-program-for-ethereum-layer-2-development\/\"><strong>Starknet<\/strong> <\/a>is the seventh-largest Ethereum layer 2, according to L2beat. The combined TVL of Ethereum layer-2 networks exceeds $46 billion.<\/p>\n<p>Three weeks after the announcement of a $5 million seed grant program aimed at supporting at least 200 outstanding teams with $25,000 USD Coin each, providing a <em>\u201cfinal push\u201d<\/em> to assist final-stage projects launch on Starknet, the new financing initiative for developers emerges. The Starknet Foundation also schedules future funding initiatives under the Catalyst program.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The best-developed initiatives on the network will get 20 million Starknet (STRK) tokens from the Starknet Foundation. The Starknet Foundation will gift the 21 best-performing projects in the ecosystem about $25.2 million worth of Starknet tokens as part of its new Catalyst initiative. Criteria for Selection and Project Categories According to Diego Oliva, the CEO<\/p>\n","protected":false},"author":6,"featured_media":15300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[474,6443,6444],"class_list":["post-21463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genel","tag-starknet","tag-starknet-foundation","tag-strk-tokens"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Starknet Foundation Allocates $25.2 Million in STRK Tokens to Top Projects<\/title>\n<meta name=\"description\" content=\"Starknet Foundation awards $25.2 million in STRK tokens to 21 top-performing projects to spur innovation on its Ethereum layer-2 scaling solution.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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