StarkWare's 'Devonomics' Program Distributes $3.5M to Developers

• StarkWare Announces the Allocation of $3.5 Million Network Fees to Developers
• About the Devonomics Program
• Further Developments in the Pipeline
• A Word from the CEO
• Upcoming Token Allocation by the Starknet Foundation

StarkWare Announces the Allocation of $3.5 Million Network Fees to Developers

StarkWare, the company behind the development of Starknet, a layer-2 blockchain based on Ethereum$2,315 -2.42%, together with the Starknet Foundation, announced on Tuesday that approximately $3.5 million of network fees will be allocated to developers as a component of the newly announced Devonomics initiative.

About the Devonomics Program

The Devonomics program is intending to distribute approximately 10% of the network fees from the inception of the project through November 30, which amounts to around 1,600 ETH, in support of the Starknet ecosystem. With time, future distributions will be made in STRK, the native governance token of the Starknet blockchain. At present, 8% of the fees will be allocated to decentralized application (dApp) builders, while the remaining 2% will be directed towards Starknet's core developers.

Further Developments in the Pipeline

The recent announcement follows last week's disclosure by the Starknet Foundation of future plans involving a 1.8 billion STRK token airdrop. However, a representative from StarkWare has clarified that the tokens associated with the Devonomics initiative are separate from the previously announced airdrop.

A Word from the CEO

Uri Kolodny, the co-founder and CEO of StarkWare, expressed the significance of developers in the growth of the Starknet network. By allocating a portion of the network's fees back to dApp builders, preliminarily set at 8%, they will be further empowered to expand and enhance the network.

Upcoming Token Allocation by the Starknet Foundation

Further details about the upcoming allocation of 1.8 billion STRK tokens by the Starknet Foundation will be released soon.

Edited by Jonathan Stoker