Early Adopter Grants Committee: A Path to Building Stronger Applications on Starknet

On March 23, the Starknet Foundation established the Early Adopter Grants (EAG) Committee, whose task is to initially allocate STRK tokens to early builders of Starknet on-chain applications. The goal of this token allocation is to allow early builders to participate in network operations through pledge and voting. The committee has a budget of up to 10000000 STRK tokens, which will be distributed to project parties through multiple rounds.

The Starknet Foundation established an EAG committee to allocate STRK tokens to early builders

As blockchain technology continues to make waves around the world, the Starknet Foundation is set to take a proactive step by establishing the Early Adopter Grants (EAG) Committee. This committee aims to allocate STRK tokens to early builders of Starknet on-chain applications. The ultimate goal is to allow early builders to participate in network operations through pledge and voting. The committee has a budget of up to 10,000,000 STRK tokens that it plans to distribute to project parties through multiple rounds. Let’s take a closer look at what this represents and how it can impact the blockchain space.

What are Early Adopter Grants?

Early Adopter Grants are rewards given to early builders of Starknet on-chain applications. The Starknet Foundation understands that traditional funding methods may not be readily available or may not be sufficient for these early builders. As a result, the Early Adopter Grants program is designed to support these builders by allocating STRK tokens that can be used to pledge and vote during network operations. This approach ensures that early builders have a voice in the development of the Starknet ecosystem.

Why the Need for Early Adopter Grants?

Starknet is one of the most advanced blockchain platforms in the world, but its development is still at an early stage. Building high-quality dApps on the platform is still a new process, and it requires a lot of experimentation and testing. The Early Adopter Grants program, therefore, addresses the need for early builders of on-chain applications to be adequately incentivized. Funding for these builders can be a challenge, and that’s where the EAG Committee comes in.

How Does the Early Adopter Grants Program Work?

The Early Adopter Grants program is an ongoing program that will operate through multiple rounds. During each round, the EAG Committee examines applications from early builders of Starknet on-chain applications. The committee then allocates STRK tokens to the selected parties, following a set of predefined distribution criteria. These tokens can be used to pledge and vote during network operations on the Starknet ecosystem.
Throughout the evaluation process, projects will be evaluated based on elements such as their uniqueness, level of innovation, the size of the end-user market, technical feasibility, and the potential impact of the project on Starknet. The successful projects will receive STRK tokens to fund their development and ultimately improve the Starknet ecosystem.

Benefits of Early Adopter Grants

The Early Adopter Grants program has several benefits for early builders of Starknet on-chain applications. Firstly, it provides an additional source of funding for early builders, who may struggle to secure funding through other means. Secondly, it grants early builders an opportunity to become more involved in the development of the Starknet ecosystem by having a say in network operations through the use of the allocated STRK tokens. This increases the level of engagement between builders and the ecosystem.
Moreover, the EAG Committee allows for projects to nurture their ideas with allocated funds before launching their projects. This way, they can polish their projects better and refine them to perfectly fit into the Starknet ecosystem, thus avoiding having to go to market before they are ready.

Conclusion

The Early Adopter Grants (EAG) Committee’s establishment is a massive step forward for Starknet and blockchain technology. Through the allocation of STRK tokens to early builders of Starknet on-chain applications, the EAG Committee aims to encourage early builders while providing them with funding, incentives, and a platform to take part in decision-making processes. It is an exciting time for Starknet, and the Early Adopter Grants program is a crucial part of its development.

FAQs

**Q1. What is the Early Adopter Grants Committee and what is its purpose?**
The Early Adopter Grants (EAG) Committee is a body established by the Starknet Foundation to allocate STRK tokens to early builders of Starknet on-chain applications. The primary purpose of the committee is to encourage early builders to participate in network operations through pledge and voting.
**Q2. How does the Early Adopter Grants program work?**
During each round of the Early Adopter Grants program, the committee examines applications from early builders of Starknet on-chain applications. The committee then allocates STRK tokens to the selected parties. These tokens can be used to pledge and vote during network operations.
**Q3. What are the benefits of the Early Adopter Grants program?**
The Early Adopter Grants program provides additional funding sources for early builders of Starknet on-chain applications. It also grants early builders the opportunity to become more involved in the development of the Starknet ecosystem by having a say in network operations through the use of allocated STRK tokens. Furthermore, it allows projects to nurture their ideas with allocated funds before launching their projects, resulting in more refined products.