The Starknet Foundation has unveiled a $25 million token incentive program aimed at driving innovation on its blockchain network.
This initiative is the first phase of Starknet’s Catalyst program and is designed to reward the most advanced projects utilizing Starknet’s technology.
As part of the Catalyst program, 20 million Starknet (STRK) tokens, valued at approximately $25.2 million, will be distributed to 21 standout projects in the ecosystem.
These projects were selected based on various performance metrics, including total value locked, fees generated, active users, external funding and security audits.
Diego Oliva, CEO of Starknet Foundation, emphasized the program’s goal to accelerate the adoption and development of user-facing protocols on Starknet’s Ethereum layer-2 scaling solution, which leverages zero-knowledge rollup technology.
The initiative aims to support both advanced-stage projects and emerging ventures within the network.
Among the top projects receiving grants are: Ekubo, a token launch platform; AVNU, a DeFi protocol offering gasless trading; and Influence, a fully on-chain grand strategy game.
Others include Realms, an on-chain gaming universe; Nostra, a DeFi protocol with an upcoming crypto super app; and ZKX, a decentralized perpetual futures exchange.
Starknet has seen significant traction in Web3 gaming, and the Catalyst program aims to further enhance the network’s infrastructure with high-speed, low-cost transactions, benefiting both gaming and decentralized finance (DeFi) applications.
Oliva highlighted the continuous upgrades aimed at improving transaction speeds and reducing costs, which are crucial for on-chain games and DeFi platforms.
Starknet is currently the seventh-largest Ethereum layer-2 network, boasting over $1.08 billion in total value locked (TVL) and holding a 2.32% market share among Ethereum layer-2 networks. Overall, these networks collectively manage over $46 billion in TVL.
This new funding initiative follows the Starknet Foundation’s recent announcement of a $5 million seed grants program. The seed grants aim to support at least 200 promising teams with $25,000 each, providing crucial support to projects nearing their launch on Starknet.
