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Starknet allocates 10% of network fees to developers

2 years ago CryptoExpert
Starknet allocates 10% of network fees to developers

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Starknet to distribute 10% of network fees to developers in ‘Devonomics’ pilot.
dApps developers to receive 8% and core developers 2% of $1,600 ETH, or $3.5 million.
Starknet recently announced an upcoming airdrop.

Starknet Foundation and StarkWare, the developer of layer-2 Ethereum platform Starknet, has announced a pilot program that will incentivise developers via a $3.5 million total payout.

According to Starknet’s blog post on Tuesday, the pilot program is dubbed “Devonomics.” With it, early Starknet developers will receive 1,600 ETH accounting for 10% of all network fees.

Beneficiaries are those to have contributed to the platform’s activities and growth since its launch in November 2021 up to November 30, 2023. Developers are to be rewarded for operating and developing the Starknet network, as well as to empower them for governance decisions.

The program also seeks to incentivise developers to maintain and secure the blockchain platform through staking, Starkware noted.

8% to dApp developers and 2% to core developers

In particular, developers will have a share of over 1,600 ETH. Over 1,200 ETH, or 8% of the fees will be distributed to developers of decentralised applications (dApps).

Meanwhile, 300 ETH, or about 2%, will go to Core Developers, a group that includes devs that write code for provers, sequencers, full nodes, and long-term storage providers among others. While the initial distribution is in ETH, all future rewards will be in the native STRK token.

Starknet Foundation’s launch of Devonomics adds to several other initiatives aimed at empowering key network stakeholders.

Past initiatives include an early adopter grant (EAG) program, a 50 million early community member program (ECMP), developer partnerships (DPs) and grants to individual contributors.

Today’s announcement also comes a few days after Starknet confirmed plans for a potential 1.8 billion STRK airdrop.

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