July 1, 2024 · Reading Time: 3 minutes

DeFi Spring Program 2.0

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Following on the success of the first round of our DeFi Spring program, the Starknet Foundation has decided to extend the program and offer a new allocation budget to continue to grow the DeFi ecosystem.

The DeFi Spring program functions by helping DeFi projects bootstrap their go-to-market efforts by providing additional yield (subsidized by the Starknet Foundation) to liquidity providers on participating DeFi protocols.

In the first round of the program, the Foundation allocated 40M STRK. This helped to generate significant economic activity across the ecosystem, with funds reaching over 100,000 users. The outcome was that Starknet became one of the fastest growing chains by TVL.

This is an exciting moment for DeFi on Starknet and we want to ensure as many protocols as possible have the chance to participate in this period of remarkable growth. If you are interested in participating we encourage you to check out the program details below.

DeFi Spring highlights so far:

– 14.4M STRK distributed over 16 weeks

– 106,870 users reached

– 14 protocols participated

Program Length

DeFi Spring will be live until at least 31 December 2024.  Any additional extensions will be communicated ahead of time.

Program Details

The first round of DeFi Spring was originally announced on February 18 2024, with an initial budget of 40M STRK.

The next round of Defi Spring is set to launch on July 1st, and will last until at least 31 December 2024 with an additional budget of 50M STRK, bringing the total budget to 90M STRK.

To design a fair and equitable distribution of STRK tokens to participating DeFi protocols, the Starknet Foundation worked with OpenBlock Labs. Participating protocols are sorted into four categories, each with its own assessment criteria:

Category 1: DEXs

Eligible DEXs will be assessed on the depth of liquidity available for eligible assets.

Category 2: Borrow & Lend

Eligible borrow & lend protocols will be assessed on the total non-recursive supply for eligible assets.

Category 3: Perps & Options

Eligible perpetual future & options exchanges will be assessed on their user’s eligible deposits, volume and fees.

*New* Category 4: Other

Other DeFi protocols that accept user deposits will fall under this category and be assessed on their total deposits for eligible assets.

For DeFi Spring 2.0, we’re introducing a new category for participating protocols. Category 4 will be a catch-all that includes all DeFi protocols that have TVL from user deposits and distribute yield or returns to those users.

Assessment for Category 4, like all assessments for entry into DeFi Spring, will be entirely up to the discretion of the Starknet Foundation and any partners it chooses to work with.

STRK is distributed directly from the Foundation to the participating protocols on a fortnightly basis based on each protocol’s performance.

Participating protocols then distribute the incentives they’ve received onwards to their LPs & users through their own programs.

NFT update

For DeFi Spring 2.0, we have brought back the original DeFi Spring NFTs for participating users. Depending on the amount of STRK you claim, you will be able to mint the corresponding NFT. Any users that completed a Quest on Intract during the original DeFi Spring will be able to automatically mint the Level 2 NFT, regardless of how much STRK they have earned.

The NFT has no other purposes other than to represent participation in DeFi Spring. There is no monetary or other value attached to it.

Program participants

You can view a full list of all participating Starknet protocols here.

Program FAQs

  • DeFi Spring will be live until at least 31 December 2024

  • View a full list of all participating Starknet protocols here.

  • Apply via this link

Apply now

If you’re a DeFi protocol and you would like to join DeFi Spring, apply via this link.

If you’re a liquidity provider and you’re interested in being connected to any of the participating protocols, please message @sndamian on Telegram.

Apply Now →