StarkWare and Starknet Foundation Launch “Devonomics Pilot Program”
StarkWare and the Starknet Foundation have introduced a new initiative called the “devonomics pilot program” to support developers building on the Starknet Layer 2 network. As part of this program, developers on the network will receive a 10% share of all transaction operator fees collected since the network’s launch in November 2022 until the end of last month, amounting to over $35 million in ETH.
Rewards Distribution and Future Payments
The distribution of rewards will be automated and paid out to developers based on the fees generated by each decentralized application. Initially, payments will be made in ether, but after an upcoming upgrade, they will be made in STRK, the governance token for the network.
Operator Fees and Decentralization Goals
Currently, StarkWare is the sole operator and collector of fees on Starknet. However, the network aims to decentralize in the future by allowing other operators to take on this role. The fee program aims to support both established and new developers in the ecosystem.
Allocation of Operator Fees
10% of total collected fees, equivalent to 1,600 ether ($3.5 million), will be allocated as operator fees. Of this amount, 8% will go to dApp developers and 2% to core developers. This results in 1,280 ether for dApp builders and 320 ether for core developers.
About Starknet and StarkWare
Starknet is a decentralized Layer 2 network built on Ethereum that utilizes zero-knowledge roll-up technology. It condenses multiple transactions off-chain before publishing them collectively on the Ethereum network. StarkWare, known for inventing the Stark cryptographic proofs mechanism, was the original architect of Starknet and now contributes to the project’s future development through the Starknet Foundation.
Hot Take: Supporting Developers and Decentralization in the Starknet Ecosystem
StarkWare and the Starknet Foundation’s “devonomics pilot program” demonstrates their commitment to supporting developers and promoting decentralization in the Starknet ecosystem. By distributing a portion of operator fees to developers, they aim to incentivize innovation and growth. This initiative also aligns with their future plans to introduce fee payments in STRK tokens, enabling token holders to participate in governance and staking activities. With these efforts, StarkWare and the Starknet Foundation are fostering a vibrant and inclusive community of developers on their Layer 2 network.
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