The Starknet Foundation has announced an additional 50 million STRK allocation to its DeFi Spring program, starting from July 1, 2024, to December 31, 2024. This brings the total funds for the initiative to 90 million STRK.
DeFi Spring 2.0 aims to expand Starknet’s Ethereum Layer-2 DeFi ecosystem, building on the previous success of allocating 40 million STRK. The program’s first phase distributed 14.4 million STRK over 16 weeks, engaging over 106,000 users and 14 protocols.
A standout feature of DeFi Spring 2.0 is its collaboration with OpenBlock Labs to ensure fair STRK distribution across four protocol categories, including a new one for DeFi protocols that accept user deposits and issue yields.
Since its launch, Starknet’s total value locked (TVL) has surged from $54 million in February to $240 million, showcasing significant ecosystem growth.
Strategically, this additional allocation signifies Starknet’s commitment to long-term DeFi ecosystem development, despite challenging market conditions.
