Layer-2 network StarkWare and the Starknet Foundation are set to distribute a 10% cut of network fees to developers, a part of a pilot program called “Devonomics.”
In an announcement shared with Cointelegraph on Dec. 12, StarkWare CEO Uri Kolodny said it was allocating a portion of the network fees, provisionally 8%, to decentralized app builders and 2% to infrastructure engineers and core developers through a transparent and open voting process.
“It’s all about giving the hands-on builders a strong voice in shaping the network,” explained Kolodny.
The Devonomics initiative will begin with an initial distribution covering all transaction fees accumulated from the platform’s launch until Nov. 30, 2023. This equates to around 1,600 Ether (ETH) valued at roughly $3.58 million at current ETH prices.
StarkWare co-founder Eli Ben-Sasson adds that while the model is likely to undergo several iterations, it could have a broad impact on the Ethereum ecosystem and help developers “weather” the remainder of a protracted cryptocurrency winter:
It is a bold experiment trying to change the way developers think about intellectual property and monetization and ensuring they get fairly rewarded for their work.”
Ben-Sasson said the broader cryptocurrency ecosystem is also seeing a “phenomenal amount of blockchain brain drain”, as talented developers leave the sector because of the impact of the cryptocurrency bear market and its financial implications.
Initial distributions will be in ETH before transitioning to the Starknet governance token, STRK. On Dec. 1, Cointelegraph reported that STRK token distribution had not yet been finalized, with the foundation warning users over fakes and scams related to the new L2 asset.
The new program comes amid an increase in developer activity on the platform. According to data from venture firm Electric Capital, there was a 14% increase in full-time developers on…
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