Starknet Foundation Unveils $5M Seed Grant Program for Ecosystem Growth

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As an experienced analyst, I believe this seed grant program initiated by Starknet Foundation is a commendable effort to bolster the growth and innovation within the Starknet ecosystem. With Ethereum-based layer-2 scaling solutions becoming increasingly important for improving network scalability, it’s essential for organizations like Starknet Foundation to invest in developers actively building on their protocol.

The Starknet Foundation, which manages the blockchain technology, has launched a seed grant program worth $5 million. This program aims to nurture the development community by providing financial assistance to software builders working on the Starknet protocol.

Based on a recent study, the Foundation has announced its intention to sponsor around 200 innovative teams working on Starknet, which is an Ethereum-layered scaling solution aimed at addressing the network’s scalability issues.

Starknet to Give $25k in USDC to Developers

The Foundation expressed its backing for the report via social media, stating that eligible projects can secure up to $25,000 in USDC stablecoins to expand their business initiatives within the US.

Introducing the Starknet Seed Grant Program! 🌱

The Seed Grant Program represents a fresh endeavor, offering financial awards of up to $25,000 in USDC to teams without dilution, aiming to foster expansion and development within the Starknet ecosystem.

— Starknet Foundation (@StarknetFndn) May 7, 2024

Diego Oliva, the CEO of Starknet Foundation, announced that the seed grant initiative will prioritize projects linked to Starknet which have advanced beyond the minimum viable product (MVP) or demonstration phase.

Instead, he made it clear that each project would go through a screening procedure, enabling the team to evaluate and pick the most fitting options.

Oliva revealed that the objective of this initiative is to tackle the persistent issues faced by developers in Starknet. The allocated resources will solely support innovative teams with a clear vision, but limited financial capabilities, enabling them to turn their concepts into reality.

“He spoke about individuals possessing extraordinary creativity and foresight who encounter challenges in completing projects and bringing them to fruition. In response to this issue, we designed a program aimed at providing straightforward assistance with minimal red tape.”

Over the past few years, there’s been a growing buzz among developers regarding Starknet. As per Electric Capital’s 2023 Developer Survey, an increased number of developers took interest in the Starknet platform last year.

As a researcher studying the development activity on this platform, I’ve found that in December 2021, over 22,400 developers were actively building projects monthly. This figure signifies a substantial growth of 113% compared to the previous year when there were merely 10,500 developers working on the platform.

GameFi Takes the Lead on Starknet

Oliva remarked that among the various project categories on Starknet, the one experiencing the swiftest expansion is blockchain gaming.

As a crypto investor, I’m excited about the potential of layer-2 scaling solutions like Starknet, which already have promising projects underway such as Realms, Influence, and Dojo. These initiatives offer intriguing use cases that are paving the way for future gaming platforms. Many developers within the Starknet ecosystem are already embracing the Dojo standard to construct their networks, making it a foundational building block for innovation in this space.

He also emphasized Starknet’s role in pioneering a fully on-chain gaming experience for users.

As a researcher exploring the latest trends in blockchain technology and gaming, I’m excited to highlight Starknet’s innovative approach in bringing fully on-chain gaming to life. The significance of gaming extends beyond the realm of dedicated gamers; it puts our networks through their paces, revealing their capabilities and showcasing their power.

The rising popularity of blockchain gaming on Starknet mirrors the growing buzz around this sector. As per DappRadar’s statistics, blockchain games accounted for an impressive 35% of the total decentralized application usage, attracting over 2.2 million unique wallets every day.

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2024-05-07 17:46