Early Adopter Grants Committee: Starknet Foundation Approves STRK Token Allocations

On March 23, the Starknet Foundation established the Early Adopter Grants (EAG) Committee, whose task is to initially allocate STRK tokens to early builders of Starknet on-chain applications. The goal of this token allocation is to allow early builders to participate in network operations through pledge and voting. The committee has a budget of up to 10000000 STRK tokens, which will be distributed to project parties through multiple rounds.

The Starknet Foundation established an EAG committee to allocate STRK tokens to early builders

The Starknet Foundation has taken a significant step forward in establishing a thriving on-chain application ecosystem by creating the Early Adopter Grants (EAG) Committee. This committee will initially allocate STRK tokens to those who are building Starknet on-chain applications. With a budget of up to 10,000,000 STRK tokens, the committee will distribute the tokens to the project parties through multiple rounds.

What is Starknet, and how does it help in on-chain applications?

Starknet is an open-source permissionless platform designed for decentralized exchange, on-chain games, and much more. The Starknet blockchain is fast, safe, secure, and scalable enough to power high-level blockchains. Starknet is based on OperA, Starkware’s proof system, and generates proofs of computations in Zero-Knowledge.
Starknet changed the game by eliminating the limitations of other layer-two solutions that can only support a limited number of use cases. With Starknet, developers can build high-performance dApps that enjoy the full functionality and security of the blockchain.

What is the Early Adopter Grants Committee, and what are its goals?

The Early Adopter Grants (EAG) Committee is a strategic move by the Starknet Foundation, aiming to allocate STRK tokens to early builders of Starknet on-chain applications. This committee will provide early builders with the opportunity to participate in network operations through pledge and voting.
The goal of the Early Adopter Grants Committee is to incentivize developers to continue building innovative Starknet applications. This will help expand and improve the network and, in the long term, make Starknet the most preferred platform for on-chain applications.

Token Allocation Details

The Early Adopter Grants Committee has a budget of up to 10,000,000 STRK tokens. The tokens will be allocated to project parties through various rounds, with STRK tokens going primarily to those building on-chain applications.
The EAG Committee has set a high bar for token distribution, requiring that dApps have a multi-week integration with Starknet before they can apply. The committee will reward only dApps that have a proven track record of addressing complex problems.

Conclusion

The Starknet Early Adopter Grants Committee is an excellent opportunity for developers to build innovative on-chain applications using the Starknet network. This move will help expand and improve the network and provide a thriving ecosystem for developers to build and improve upon.
The committee’s token allocation plan undoubtedly serves as an incentive to attract more developers to the ecosystem, which ultimately will benefit the blockchain network.

FAQs

1. What is the Early Adopter Grants Committee, and what is its purpose?
The Early Adopter Grants Committee is a strategic move by the Starknet Foundation, aiming to allocate STRK tokens to developers building on-chain applications. The goal is to incentivize developers to continue building innovative Starknet applications, thus expanding and improving the network.
2. How will the Early Adopter Grants Committee allocate its token budget?
The Early Adopter Grants Committee has set a high bar for token distribution, requiring that dApps have a multi-week integration with Starknet before they can apply. The committee will reward dApps that have a proven track record of dealing with complex problems.
3. What is the significance of the committee’s token allocation plan for the Starknet network?
The committee’s token allocation plan undoubtedly serves as an incentive to attract more developers, thus ultimately widening the pool of participants who can contribute to the ongoing growth, development, and prosperity of the Starknet ecosystem.