Starknet Foundation announces additional 50 M STRK for its DeFi Spring programme details Published Monday
DeFi Spring 2.0 represents the new Starknet Foundation commitment to grow Starknet’s decentralized finance ecosystem (DeFi), an Ethereum layer-2 rollup eco-system.
The DeFi Spring 2 timeline
After a successful initial effort, the Foundation has now allocated a second round of funds to help support DeFi. The total allocated for this program now stands at 90 million STRK.
DeFi Spring 2 is scheduled to run between July 1, 2020 and at least December 31st, 2024.
Starknet Foundation is collaborating with OpenBlock Labs to ensure STRK distribution is fair and equitable across four categories of protocols: DEXs, borrow & lend, perps & options and a new “other” This category is a new addition “DeFi protocols that accept user deposits.”
Projects that fall under this new category also include those projects which provide a yield or return to the users.
Starknet ecosystem development
Starknet’s DeFi Spring Program, which was launched in February of this year, distributed 14,4 million STRK over 16 weeks to more than 106,000 users. Starknet reports that the program aimed to expand the Layer 2-blockchain network’s DeFi Ecosystem attracted fourteen protocols.
The announcement today states that the L2 ecosystem’s economic activity has been boosted by the four-month initiative.
Even though the market is difficult, there are still opportunities. network issues Starknet is experiencing a surge in the total value (TVL) after launching their STRK token.
Starknet’s smart contracts currently have a total asset value of $240,000,000. DeFiLlama data DeFi Spring, which was introduced in February of that year, had a market capitalization of $54 millions.
DeFi Spring will feature the DEX protocol Ekubo as well as Nostra, a platform for borrowing and lending and Starknet’s AMM MySwap.
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Source: crypto.news
