2024

Starknet

Foundation

USDC

The Starknet Foundation announced the launch of a $5 million grant program for 200 crypto project teams.
According to the Starknet Foundation team,&nbsp;this initiative aims&nbsp;to provide 200 crypto project teams with funding of up to $25,000 in <a href="https://crypto.news/price/usd-coin/" target="_blank" rel="noopener noreferrer nofollow">USDC</a> to accelerate the growth of the Starknet ecosystem.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Introducing the Starknet Seed Grant Program! 🌱 The Seed Grant Program is a new initiative designed to provide teams with grants up to $25,000 in USDC in non-dilutive funding to enhance the growth of the Starknet ecosystem.<a href="https://t.co/b1XuqgTfqD" target="_blank" rel="noopener noreferrer nofollow">https://t.co/b1XuqgTfqD</a> <a href="https://t.co/8Ux9jTLHNP" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/8Ux9jTLHNP</a>— Starknet Foundation (@StarknetFndn) <a href="https://twitter.com/StarknetFndn/status/1787769330525946186?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 7, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
The Starknet Foundation aims to support projects that have already developed a minimum viable product but have not yet reached the market.&nbsp;To receive funding, users need to actively participate in the <a href="https://crypto.news/tag/Starknet/" rel="noopener noreferrer nofollow">Starknet</a> community or participate in a hackathon and&nbsp;develop existing network-based tools.
All projects must submit a clear plan for using the grant within the next three months. The results will&nbsp;be announced&nbsp;within two weeks after applying.
You might also like: <a href="https://crypto.news/strk-trading-starknet-airdrop/" rel="noopener noreferrer nofollow"> STRK trading spikes on major exchanges after Starknet’s 128m airdrop </a>
Projects operating on the mainnet for more than three months or with a group of users cannot apply for funding. Additionally, the program is not available to teams that are involved in drugs, gambling, illegal trade, money laundering, firearms, or any criminal activity.
In March, the Starknet Foundation&nbsp;<a href="https://crypto.news/starknet-foundation-game-committee/" target="_blank" rel="noopener noreferrer nofollow">announced</a>&nbsp;the establishment of a Gaming Committee&nbsp;to develop the ecosystem further. The committee will be responsible for shaping strategies and programs for expanding into the relevant entertainment industry sector.
In February, the Starknet project <a href="https://l2beat.com/scaling/summary" target="_blank" rel="noopener noreferrer nofollow">entered</a> the top five networks in total value locked (<a href="https://crypto.news/tag/TVL/" target="_blank" rel="noopener noreferrer nofollow">TVL</a>). The Starknet Foundation team also <a href="https://crypto.news/starknet-to-airdrop-700m-strk-tokens-to-1-3m-users/" target="_blank" rel="noopener noreferrer nofollow">announced</a> <a href="https://crypto.news/tag/airdrop/" target="_blank" rel="noopener noreferrer nofollow">an airdrop</a> among 1.3 million users.
A few days after the announcement, the number of active users on the Starknet network dropped sharply&nbsp;amid criticism of the terms of reward distribution.
You might also like: <a href="https://crypto.news/starknet-token-sinks-by-17-after-airdrop-distribution-and-listing-on-cex/" rel="noopener noreferrer nofollow"> Starknet token sinks by 17% after airdrop distribution and listing on CEX </a>

Starknet Foundation launches $5m grant program

crypto.news

Other articles published on May 7, 2024

Bitgert Coin Set to Skyrocket: Experts Foresee a +500% Surge This Week

BitPay Teams Up with MoonPay to Boost Crypto Sales: A New Era for Bitcoin (BTC) and Other Digital...

Discover the Buzz: BEFE Coin Leads the Meme Coin Market Today

SEC Pushes Verdict on Invesco Galaxy Spot ETH ETF to July

The impact of AI on Health

New Memecoin Solana Doggy (SOLDOGGY) to Rally Over 6,000%, as Shiba Inu and Dogecoin Lag

Join our free newsletter for daily crypto updates!