Layer 2 Starknet Unveils Plan To Distribute $3.5M in Fees To Developers

“Devonomics” will distribute 8% of fees (roughly $3.5 million) to its builders.

By: Pedro Solimano Loading...

Ethereum Layer 2 ecosystem, Starknet, unveiled today a new pilot program that will reward a percentage of fees to the project's developers.

Dubbed Devonomics, the pilot program will allocate roughly 8% of all transaction fees recollected, which is 1,600 ETH, or $3.5 million, to Starknet’s community of builders. It will distribute all fees accumulated from launch to Nov. 30.

Initially, the distribution rounds will be funded in ETH, with the intent to transition towards the project’s native token, STRK. The token is not yet available for trading.

“This is all about giving the hands-on builders a strong voice in shaping the network,” said StarkWare’s CEO, Uri Kolodny, in a press release today, adding that “the program is about values, and not just value.”

In early September, fuelled by speculation regarding STRK’s launch, activity on Starknet surged. The network posted record-high 9 transactions per second (TPS), and ranked second most active L2 by transaction volume, according to L2beat. It has since dropped and currently ranks 9th, with 2 TPS, and a TVL of $135 million–a 13% drop in the past 24 hours.