Starknet Foundation DeFi Spring 2.0 Added 50 Million STRK To Boost The Ecosystem

Key Points:

• The Starknet Foundation DeFi Spring 2.0 has been supplemented with 50 million STRK to the, raising the total budget to 90 million STRK.
• Starknet Foundation appointed a DeFi Committee to drive DeFi growth, with plans to distribute 40 million STRK over six to eight months to participating protocols.
• The DeFi Committee will distribute STRK every two weeks based on performance metrics.

The Starknet Foundation recently announced an additional allocation of 50 million STRK to the DeFi Spring 2.0 package on platform X.

Read more: Top 5 DeFi Projects On StarkNet

Starknet Foundation DeFi Spring 2.0 Funding Gets a Boost

This increases the total budget of the initiative to 90 million STRK, demonstrating the foundation’s commitment to bolstering decentralized finance (DeFi) development on Starknet. The additional funding aims to significantly enhance the financial resources available to the plan’s initiatives and projects.

The Starknet Foundation DeFi Spring 2.0 plan is a crucial initiative, intended to support and promote DeFi growth. Although specific details on how the additional STRK will be utilized have not yet been disclosed, the move has been met with positive feedback from the community, who view it as a strong endorsement of the plan.

In November 2023, the Starknet Foundation appointed a DeFi Committee to spearhead the growth of DeFi on Starknet. In collaboration with OpenBlock Labs, the foundation launches the Starknet DeFi Spring program, which will distribute 40 million STRK over six to eight months to participate DeFi protocols.

Dynamic STRK Distribution to Reward DeFi Protocols

According to the Starknet Foundation DeFi Spring program, the DeFi Committee plans to allocate STRK every two weeks based on the performance and compliance of participating protocols. Each protocol will design, announce, and execute incentive programs to reward their users with the allocated STRK.

An additional 10 million STRK has been reserved for future programs focused on volume, transactions, grants, and incubation efforts. Participating protocols will handle their own distribution strategies, which may vary in terms of how and which users can earn STRK.