StarkWare Launches “Devonomics Pilot Program” to Incentivize Developers
Ethereum developer StarkWare has introduced a new pilot program called the “Devonomics Pilot Program” in which it will pay 10% of its network fees to builders. This initiative aims to incentivize the team to make the network more robust and expansive. The first distribution of payments to developers amounts to 1,600 ETH, equivalent to $3.5 million. Eventually, these distributions will be made in StarkNet Tokens (STRK), the firm’s native token.
Empowering Builders through Incentives
By allocating a portion of the fees back to dApp builders, StarkWare CEO Uri Kolodny believes that the team will be motivated to further develop and enhance the network. The program is a collaboration between StarkWare and the Starknet Foundation and aims to benefit both dApp builders and core developers.
Automated Allocations Based on Fees
The allocations for builders will be automated and determined by an algorithm that calculates the level of fees generated by each dApp. This ensures a fair and transparent distribution process.
StarkWare’s Growing Valuation
In May, StarkWare announced that its valuation had doubled after successfully raising $100 million in a Series D funding round. The company’s valuation increased from $2 billion in November to $8 billion, showcasing its growth and potential in the crypto industry.
Hot Take: Incentivizing Innovation for Network Expansion
StarkWare’s “Devonomics Pilot Program” is a strategic move to empower developers and encourage them to contribute towards building a more robust Ethereum network. By allocating a portion of network fees to builders, StarkWare aims to foster innovation and drive the growth of decentralized applications. This initiative highlights the company’s commitment to creating a collaborative ecosystem that benefits all stakeholders. With its growing valuation and innovative approach, StarkWare is positioning itself as a key player in the crypto industry.
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