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Starknet Foundation Initiates $5M Grant Program to Support Blockchain Developers

May 7, 2024 at 03:57

The Starknet Foundation has launched a $5 million grant program dedicated to fostering innovation and assisting developers in bringing their blockchain projects to completion. This initiative is intended to provide crucial support for emerging projects within the network.

Aimed at backing at least 200 teams, the $5 million Seed Grants Program will allocate $25,000 in USD Coin (USDC) to each qualifying project. The program specifically targets advanced-stage projects ready to launch on Starknet, an Ethereum layer-2 scaling solution that employs zero-knowledge rollup technology.

Diego Oliva, CEO of the Starknet Foundation, shared with Cointelegraph that the initiative responds directly to the needs of developers facing the “last mile” challenge in project development. Oliva emphasized the foundation’s commitment to easing the path for innovative projects to reach production with minimal administrative hurdles.

The grants are designed for Starknet-related projects that have already developed a minimum viable product (MVP) or proof-of-concept, focusing on reducing entry barriers for new teams in the blockchain space.

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Starknet has seen a significant increase in its developer community, with the total monthly developers jumping to over 22,400 in December 2023, a rise of more than 113% over three years, per Electric Capital’s 2023 Developer Report.

Oliva also highlighted the vibrant activity in Web3 gaming within the Starknet ecosystem, noting it as a key driver of utility across the broader blockchain landscape. He pointed out notable projects like Realms, Influence, and Dojo, which are leveraging Starknet for fully on-chain gaming experiences. According to DappRadar data, blockchain gaming constitutes 35% of the total decentralized application activity, showcasing its significant impact and growth potential within the network.

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