StarkWare launches "Devonomics" to allocate $3.5 million in fees to developers, enhancing Starknet ecosystem growth - IcoHolder.

StarkWare, the developer firm behind Starknet, a layer-2 blockchain built on Ethereum, has unveiled its "Devonomics" program in collaboration with the Starknet Foundation. As part of this initiative, approximately $3.5 million in fees generated on the Starknet network will be allocated to developers, fostering the growth and sustainability of the Starknet ecosystem.

The Devonomics program outlines that around 10% of the network fees, accumulated from the project's inception through November 30, will be distributed to support the Starknet ecosystem. This amounts to roughly 1,600 ETH. Notably, future distributions under the program will be denominated in STRK, the native governance token of the Starknet blockchain, providing developers with a stake in the governance and decision-making processes of the platform.

In terms of the initial distribution, 8% of the fees will be directed towards builders of decentralized applications (dApps) on the Starknet blockchain. This allocation aims to incentivize developers to create innovative and valuable dApps, contributing to the vibrancy of the Starknet ecosystem. The remaining 2% of the fees will be designated for Starknet core developers, recognizing their integral role in maintaining and advancing the protocol.

StarkWare's Devonomics program represents a strategic move to align economic incentives within the Starknet ecosystem. By channeling a portion of the network fees back to developers, the program aims to stimulate continuous innovation, enhance the overall user experience, and ensure the sustainability of the Starknet platform. The choice to distribute future rewards in STRK adds an additional layer of community involvement and governance participation.

As layer-2 solutions gain prominence for addressing scalability challenges on the Ethereum network, StarkWare's Starknet stands out as a platform facilitating efficient and scalable decentralized applications. The Devonomics program underscores StarkWare's commitment to fostering a robust developer community and maintaining a flourishing ecosystem, marking a significant step in the evolution of decentralized technologies.