Starknet Ecosystem: Waiting for the Airdrop Wave After STRK Launches

Starknet Foundation has officially announced that STARK will soon be launched in the near future and the community is also excited about this information. So what great achievements has Starknet achieved recently? Let’s find out together in the article below.

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On-chain Indicators On Starknet Ecosystem

Currently, we will not have specific parameters about the number of transactions on the Starknet network and to monitor how busy the Starknet network is, we can predict the number of transactions. To make it easier to understand, the operation of the Starknet network is similar to a passenger bus, when the passengers fill the bus, the bus will run, and that means the more passengers there are, the faster the bus will depart.

In short, the busier the network, the faster Starknet’s transaction speed will be, meaning the higher the TPS will be.

Starting in July 2023, the number of transactions on the network increased sharply until early September 2023, then began to gradually decrease, until recently when the Starknet Foundation shared more about the token launch. STRK, the number of transactions on the network has just begun to increase again.

It can be seen that with the current network fees, most transactions on Starknet mainly come from Airdrop targets. It may not be Starknet’s own Airdrop, but also projects in the Starknet ecosystem such as ZKX Protocol, Zklend, Jediswap, Myswap, Braavos,…

According to L2 Beat and Starkscan.co, there is a total of $141M TVL, and according to DeFiLlama, the TVL of the Starknet ecosystem is about $34M, this difference may come from stacked liquidity. Since Solana’s TVL was bootstrapped this way, DeFiLlama has a different calculation. But according to both charts from L2 Beat and DeFiLlama, the TVL of the Starknet ecosystem has been growing steadily since the beginning of the year, but at the end of the year, it is showing signs of going sideways and gradually decreasing. The withdrawal may have resulted because many users believed that the network had taken snapshots and transferred funds to other ecosystems.

It can be seen that although there are many Native DApps, Starknet still does not have much attraction, this may come from the fact that Starknet does not have a spearhead to compete with other ecosystems, especially with zkSync, Arbitrum or Optimism.

According to the parameters of trading volume on the largest DEXs on Starknet, Ekubo and mySwap, trading volume on both platforms has begun to decrease after reaching ATh this year in September.

From the above two parameters, it shows that after the official announcement of the Airdrop and the high possibility that the Starknet Foundation took a snapshot, a certain number of users left the ecosystem.

Information Surrounding Starknet Foundation

Latest information about STRK

In the last days of November 2023, there was a rumor about the Airdrop criteria on the Starknet network including:

• Starknet Users: Are users who use DApps and Protocols on Starknet.
• Starkex Users: Are users who use DApps and Protocols on Starkex.
• Github Developers
• Ethereum Early Adopters: One of the first users to interact with Smart Contracts on Ethereum.
• Ethereum Stakers: People who participated in staking Ethereum 2.0 before The Merge event.

Shortly after the information was leaked, the Starknet Foundation confirmed it was working on a plan to distribute STRK tokens to certain past users/contributors to the network at a later date. some time.

Starknet Foundation also notes that the snapshot plan is still being developed and will be announced in the future. The last time before that, Starknet Foundation shared about its Native Token when 3AC accidentally revealed about the STRK token that the total supply is 10 billion STRK tokens of which 50% will be retained by the organization and the rest will in turn be allocated to those who contribute to the project ecosystem.

1.8B STRK will be distributed to users

Starknet Foundation has decided to use more than 1.8B STRK for several actions as follows:

• 900M STRK allocated to the Starknet community.
• 900M STRK is used to reduce fees and refund fees when users use and operate on the network.
• 50M STRK is used for DeFi projects in the Starknet ecosystem. This can be considered a Liquidity Mining program similar to the way Optimism and Arbitrum are implementing.

This post was published a week after the Starknet Foundation officially deployed STRK, but information about the STRK Airdrop has not been clearly mentioned.

Starknet supports developers

Starknet Foundation and StarkWare have officially introduced the Devonomics program to share a portion of Starknet’s revenue with developers. The total prize is 1,600 ETH, equivalent to about $3.5M, which is 10% of the total transaction fees on Starknet as of November 30.

Devonomics’ goals include:

• A reward for developers who build DApps and Protocols on Starknet.
• Promote governance on the network.
• Maintain network security with staking.

Starknet continues to develop Appchain

Avail has officially cooperated with Starknet to solve a number of problems such as:

• StarkWare has integrated Avail to make Data Availability for its Layer 3 platforms.
• Data storage fees on Avail are reduced by 90% compared to normal.
• Layer 3 solutions also take less than 1 minute to reach Finality status

Starknet Ecosystem Development Update

zkLend officially launched mainnet

zkLend – the Lending & Borrowing platform on the Starknet network, has previously successfully called for $5M from the Seed round by many prestigious investment funds such as Delphi Digital, StarkWarem CMS, Amber Group, Maven Capital,… and has officially launched. Deploying mainnet after only 4 months of deploying Alpha Mainnet. zkLend shares that this is just the beginning of their journey.

zkLend aspires to bring many innovations in the Crypto market including:

• Eliminate signing too many times for one transaction. This is considered one of the worst user experiences on Web3.
• zkLend aspires to bring a variety of assets to its protocol.
• zkLend is also committed to providing the highest level of security to users.

Nostra Finance launches a series of products

Nostra Finance, a platform targeting the DeFi Hub model on the Starknet ecosystem, has also continuously introduced and launched its new products including:

• September 14, 2023: Nostra Stablecoin platform officially introduces Stablecoin UNO to the community.
• September 28, 2023: Nostra Swap platform is officially launched to the community.
• October 18, 2023: Nostra Lending platform is officially launched to the community.

Besides, Nostra Finance also officially launched the Refferal and Earn Point program, everyone can participate here.

However, this is just the beginning for Nostra Finance. In the future, the development team will build some new products such as Flash Loan.

ZKX Protocol continues its journey towards mainnet

ZKX Protocol – the first Perp DEX platform on the Starknet ecosystem has announced a development roadmap in Q1/2024 with major events such as:

• OG Trading: Trading contest with rewards updated continuously every 30 minutes.
• Token Listing: Currently the team is negotiating with leading CEXs to prepare for live ZKX – Tokens that the community has/will be rewarded from Community Campaigns like Yakuza before or OG trading/Clans/More in the coming Q1.
• Advanced Trading: Launching a separate Terminal for Pro Traders or MMs.

Starknet spearhead expected in the near future

DeFi on Starknet at the moment does not have too many new features to attract users and clearly that is happening in reality. Another approach that Starknet’s development team is aiming for is Fully Games On-chain. In the current market context, most games are off-chain and only NFTs are on-chain, but with Fully Games On-chain, 100% will be transferred to the Blockchain.

Realizing that, Starknet is focusing a lot of resources on Fully Games On-chain projects with some prominent names such as:

• Realms World: Is a game in which players own land and develop the economy. They fight, create and destroy alliances to gain resources. Players need to come up with a balanced strategy between expanding, defending the kingdom and building an army, while also paying attention to relationships with allies and enemies.
• Dojo: Is an infrastructure platform that helps developers build On-chain Games easily and simply.
• The Ninth: A Metaverse world on the Starknet Ecosystem for building PVP arena games.
• Cantridge: Is an On-chain Games project built on Dojo’s toolkit.

It is not sure whether this strategy of Starknet will be successful or not, but with the return of GameFi with Pixels, Big Time recently and the difference in approach may bring many opportunities for success for Starknet in the future. .

Some notable updates on Starknet Ecosystem

Some of the new updates on the Starknet ecosystem include:

• Moonsong Labs is an official infrastructure project deployed on the Starknet ecosystem.
• Brine 0 DEX Orderbook platform has successfully called for many investment funds such as Pantera Capital, Spartan Group, StarkWare, Elevation,…

Summary

Starknet Ecosystem is still expanding rapidly with the Games On-chain spearhead. Will Starknet Ecosystem be successful in the future?