The Starknet Foundation, the organization behind the altcoin project Starknet (STRK), has recently unveiled a grant program worth $5 million in USD Coin (USDC) to support the development of projects on its network. The funding is aimed at assisting blockchain developers in the final stages of launching their projects and driving innovation in the blockchain industry.
Details of the $5 Million Grant Program for the Altcoin Project
The newly announced $5 million grant program will provide a much-needed boost for end-stage projects on Starknet, a ZK-rollup based Ethereum Layer-2 scaling solution. The program aims to support a minimum of 200 promising project teams with a grant of $25,000 each.
Diego Oliva, CEO of the Starknet Foundation, explained that the grant program was introduced to address the fundamental challenges faced by developers working on Starknet. Oliva stated, “We pay close attention to developers and understand the fundamental problems they encounter. These projects possess incredible creativity and vision but often struggle with funding to bring their ideas to life. In response, we have implemented a grant program that directly addresses this issue with minimal bureaucracy.”
The grant program will target projects related to Starknet that have already developed a minimum viable product (MVP) or proof of concept. Oliva emphasized that the primary goal is to foster greater blockchain innovation, stating, “Our aim is to reduce the barriers and challenges faced by young teams when considering launching a project. We want to pave the way for innovation.”
Starknet’s Growing Developer Community
Starknet has been successful in attracting a growing number of developers to its ecosystem. According to the latest developer report, the number of active developers per month has increased from 10,500 in December 2020 to over 22,400 in December 2023, marking a significant growth of over 113% in just three years. With the introduction of the $5 million grant program, it is expected that even more developers will be drawn to the ecosystem.
Emphasis on Blockchain-Based Gaming
When asked about the most exciting projects and protocol categories being built on Starknet, Oliva highlighted the significance of blockchain-based gaming. He stated, “Starknet is at the forefront of fully on-chain gaming. Key projects in this field include Realms, Influence, and Dojo. The gaming sector is rapidly expanding, with more teams utilizing the Dojo standard on Starknet. Gaming is important not only for players but for the entire network, as it drives demand, tests network capabilities, and showcases its strength.”
According to data from DappRadar, blockchain-based games account for 35% of total decentralized application (dApp) activity, with over 2.2 million unique active wallet addresses daily.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
