Starknet Foundation Unveils $5M Seed Grants Program to Bolster Blockchain Innovation
Summary:
The Starknet Foundation has launched a $5 million Seed Grants Program, aimed at supporting burgeoning projects on its network. The program seeks to offer $25,000 in USDC to at least 200 promising teams, assisting in the final development stages. The initiative was introduced partly due to the common challenges Starknet developers face. The grant is dedicated to projects tied to Starknet that already have a minimum viable product or proof-of-concept. The overarching goal of the initiative is to promote innovative blockchain projects and reduce barriers faced by young development teams.
The Starknet Foundation recently unveiled a $5 million Seed Grants Program funded in USDC, aimed at growing projects budding in its network. The program objectives include providing support to a minimum of 200 viable teams via a $25,000 USDC award to each, with the goal of accelerating the final phase of their projects' deployment on Starknet. Starknet is a Layer-2 scaling solution based on ZK-rollup, providing a solution within the Ethereum network.
This generous grants initiative arose as a direct reaction to the predominant issues faced by Starknet developers, as stated by Diego Oliva, Starknet Foundation's CEO. Oliva shared that the primary aim of this program is to address these challenges in a direct, seamless fashion by offering this grant. He also underlined the creative potential and vision of these developers, who require assistance in pushing their project over the finishing line to production.
The grant is intended for projects relevant to Starknet that have already developed a minimum viable product (MVP) or have a proof-of-concept in place. The ultimate objective, as outlined by Oliva, is to catalyze increased blockchain innovation. With this, he added a desire to lower obstacles and hindrances faced by young teams contemplating starting a project, in an effort to pave the way to innovation.
On the traction front, Starknet has been succeeding in gaining more developers for its platform. As per the developer report, the monthly developers shot up to over 22,400 in December 2023, over a 113% increase in the past three years, from the 10,500 of December 2020.
As reported by Oliva, blockchain gaming continues to be a momentous use case. He emphasized that Starknet is leading in totally on-chain gaming, with flagship projects comprising Realms, Influence, and Dojo. The gaming sector is fast-growing, attracting more teams to develop using the Starknet-powered Dojo standard.
In terms of engagement, blockchain gaming comprises 35% of the overall decentralized application (DApp) activity and hosts over 2.2 million unique active wallets daily, as stated by DappRadar data.
Published At
5/7/2024 12:00:00 PM
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