StarkWare Distributing $3.5M Fees to Developers in ‘Devonomics’ Program

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.

“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.”

Read more: Starknet Foundation to Allocate 1.8B STRK Tokens ‘Soon’