StarkWare, the developer firm behind Starknet, a layer-2 blockchain atop Ethereum, announced Tuesday together with the Starknet Foundation that about $3.5 million of fees paid on the network will go to developers as part of the recently announced “Devonomics” program.
According to a press release, about 10% of the network fees from the project's launch through Nov. 30 – amounting to about 1,600 ETH – will be distributed, intended to support the Starknet ecosystem. In time, future distributions will occur in STRK, the native governance token of the Starknet blockchain. Currently, 8% of the fees will go to builders of decentralized applications, or "dApps," while the remaining 2% will go to Starknet core developers.
The announcement comes after the Starknet Foundation disclosed plans last week that there would eventually be a 1.8 billion STRK token airdrop, though a representative from Starkware clarified that the tokens from Devonomics are separate from the previous announcement.
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“Since Day 1, devs have brought Starknet to life and their work is generating the network’s fees,” StarkWare co-founder and CEO Uri Kolodny said in a press release. “Allocating a portion of the fees back to dApp builders – provisionally set at 8% – will enable them to do more to make the network even bigger and bolder.”