Supporting Emerging Projects on Starknet: $5 Million Seed Grants Program
The Starknet Foundation recently launched a $5 million Seed Grants Program to provide support for emerging projects on the Starknet network. This initiative aims to offer a final push to at least 200 promising teams, helping them to launch their projects on Starknet and drive overall blockchain innovation. The program will allocate $25,000 in USD Coin (USDC) to each award recipient, reducing barriers to entry and fostering creativity and vision within the blockchain space.
Key Points of the Seed Grants Program
- At least 200 promising teams will receive $25,000 in USD Coin (USDC) each through the Seed Grants Program.
- The initiative supports final-stage projects on Starknet, an Ethereum layer-2 scaling solution based on zero-knowledge rollup technology, by providing a final push for development.
- To be eligible for the grant, projects must have developed a minimum viable product (MVP) or proof-of-concept, be actively engaged in the Starknet community or have participated in a hackathon, and plan to utilize the network’s existing tools and integrations.
- The program excludes projects that have been live on the mainnet for more than three months, have an established user base, or are involved in illegal activities such as drugs, gambling, or money laundering.
- Blockchain gaming is a prominent use case for Starknet, with projects like Realms, Influence, and Dojo showcasing the network’s capabilities.
Reducing Barriers for Developers
Diego Oliva, the CEO of Starknet Foundation, highlighted the motivation behind the Seed Grants Program. He emphasized that the initiative was developed in response to the main challenges faced by current Starknet developers. Oliva expressed the foundation’s commitment to supporting creative individuals and teams who need assistance in taking their projects to the next level and bringing them to production.
The Seed Grants Program targets projects related to Starknet that have already developed a minimum viable product (MVP) or proof-of-concept. To qualify for the grants, projects must also be actively involved in the Starknet community or have participated in a hackathon, demonstrating their commitment to the network’s growth and development.
According to Oliva, the primary goal of the program is to reduce barriers and provide support to young teams, ultimately fostering innovation within the blockchain space.
The Seed Grants Program does not fund projects that have been live on the mainnet for more than three months, have an established user base, or are engaged in illegal activities such as drugs, gambling, or money laundering. Applicants are required to present a clear plan for utilizing the grant within the next three months, with successful projects announced within two weeks of application.
Growing Interest in Starknet
Starknet has seen a significant increase in developer interest, with the total number of monthly developers surpassing 22,400 in December 2023. This growth represents a substantial rise of over 113% from December 2020, as reported by the Electric Capital’s 2023 Developer Report. The surge in developer activity underscores the growing appeal of layer-2 scaling solutions and the potential for innovation within the Starknet ecosystem.
When discussing exciting projects and protocol categories building on Starknet, Oliva highlighted the significance of blockchain gaming as a top use case. Projects like Realms, Influence, and Dojo are leading the way in fully on-chain gaming, showcasing the network’s capabilities and strengthening its position in the gaming sector.
Blockchain gaming has played a pivotal role in driving decentralized application activity, with a notable 35% share of total activity and over 2.2 million daily unique active wallets, according to data from DappRadar.
The launch of the Seed Grants Program follows the establishment of a Gaming Committee by the Starknet Foundation in March. This committee is dedicated to developing strategies and programs to expand into the entertainment industry sector, illustrating the foundation’s commitment to driving growth and innovation within the gaming space.
Hot Take: Empowering Innovation in the Blockchain Space
The Starknet Foundation’s $5 million Seed Grants Program signifies a significant step towards empowering emerging projects and fostering innovation within the blockchain space. By providing financial support and reducing barriers for promising teams, the program aims to accelerate the development and launch of projects on Starknet, a leading Ethereum layer-2 scaling solution. As the blockchain ecosystem continues to evolve, initiatives like the Seed Grants Program play a crucial role in supporting creativity, vision, and collaboration among developers and innovators.
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