Missed the Starknet airdrop? Check out the 40 million STRK transparent incentive program
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Missed the Starknet airdrop? Check out the 40 million STRK transparent incentive program
Rewards under the program are determined and distributed every two weeks, and the program is expected to continue through October 2024.
Navigating Web3 tides with focused insightsText: Karen, Foresight News
The long-awaited Starknet token airdrop will open for claims today at 20:00. If you missed the Starknet airdrop or are looking to explore other opportunities within the Starknet ecosystem, be sure to check out the "Starknet DeFi Spring" initiative launched by the Starknet Foundation.
This program, lasting six to eight months, will distribute 40 million STRK tokens to participating DeFi protocols on Starknet. These DeFi protocols can then allocate STRK to their users based on their own incentive designs.
In other words, interacting with these DeFi protocols offers a dual benefit—users may earn both platform-specific token airdrops and STRK incentives.
Rewards under this program will be determined and distributed every two weeks, expected to continue until October 2024. The first phase primarily targets DEXs, which can begin implementing their programs starting February 22, with users able to claim rewards from the protocols beginning March 7, 2024. Based on disclosures from multiple DEXs, this initial round mainly focuses on liquidity providers. Lending protocols can join from March 7, while options and perpetual protocols become eligible starting March 14.
DEX
Ekubo is a Starknet-based AMM protocol built by former Uniswap team engineers and advised by Moody Salem. Ekubo uses concentrated liquidity and a "till" model, managing all pools within a single contract.
Additionally, Ekubo supports customizing pool behavior via extension contracts, enabling third-party developers to leverage the Ekubo AMM to build oracles, new order types, trading strategies, or even privacy solutions. Ekubo states that over the next six to eight months, users will be able to earn STRK incentives by providing liquidity.
Strategy: Provide liquidity in STRK/ETH, STRK/USDC, ETH/USDC, and USDC/USDT pools. Key reward factors include position capital efficiency and duration of active participation.
Website: https://ekubo.org/
mySwap is an AMM protocol on Starknet featuring a concentrated liquidity (CL) setup, allowing users to provide liquidity within specific price ranges to enhance capital efficiency, or across the full price range.
Strategy: Earn STRK rewards by providing liquidity in STRK/USDC, STRK/ETH, ETH/USDC, and USDC/USDT pools. Rewards are recalculated retroactively every 14 days, with shares depending on contribution to pool liquidity.
Website: https://www.myswap.xyz/
Nostra, developed by Tempus Labs—the team behind the yield-tokenization and fixed-rate protocol Tempus—is a liquidity layer on Starknet supporting lending and trading services. Nostra will also launch UNO, a USD-pegged native stablecoin on Starknet. Users depositing ETH into the Lending product can convert it into iETH-c, which serves as collateral for minting UNO. In August last year, Tempus Labs allocated 5 million DAI to Nostra to support ecosystem development.
Strategy: Provide liquidity in STRK/USDC, STRK/ETH, ETH/USDC, and USDC/USDT pools. Nostra’s lending product will also participate in the “Starknet DeFi Spring” program starting March 7.
Website: https://app.nostra.finance/pools
Haiko is an AMM protocol in the Starknet ecosystem. While traditional AMMs place liquidity positions in static price ranges, Haiko replaces them with strategy vaults that dynamically update user positions based on custom smart contract logic. This helps LPs automatically rebalance their positions as prices move, adapting to changing market conditions for better liquidity management.
Strategy: Provide liquidity in STRK/USDC, STRK/ETH, ETH/USDC, and USDC/USDT pools. Reward amounts depend on position size, duration (in blocks), and proximity to the current market price.
Website: https://haiko.xyz/
StarkDeFi is a comprehensive DeFi solution hub on Starknet, offering a product stack including basic AMMs, limit order protocols, cooperative pools, liquidity mining, staking pools, liquidity lockers, launchpads, token minting, perpetual contracts, and more.
StarkDeFi’s ReGenesis incentive program, Phase 1 of its airdrop, ends on February 22, allowing users to earn points through swaps and liquidity provision.
Strategy: Provide liquidity in the USDC/USDT 0.04% stable pool, ETH/USDC 0.30% volatile pool, STRK/ETH 0.30% volatile pool, and STRK/USDC 0.30% volatile pool to earn STRK rewards, SDC airdrops, and fees.
Website: http://www.starkdefi.com/
10KSwap is a DEX protocol built on Starknet, launched by 10K X. 10K X has also introduced 10K DEX—a decentralized spot and perpetual contracts protocol—and 10K Wallet. The wallet leverages zero-knowledge proofs and EIP-4337, while 10K DEX supports market and limit orders for both spot and perpetual trading.
Strategy: Provide liquidity.
Website: https://10kswap.com/swap
JediSwap is a permissionless and composable AMM protocol on Starknet, built by the Mesh Finance community. JediSwap previously received a grant from StarkWare.
JediSwap launched Jediswap v2 this month, introducing new features:
1. Concentrated liquidity: Strategically provide liquidity within defined price ranges to maximize capital efficiency;
2. Custom fee tier pools: Users can add liquidity to different pools for the same trading pair, each with distinct swap fees;
3. An innovative router that identifies the most efficient paths to optimize price execution.
Jediswap is set to launch a leaderboard, allowing users to earn points and increase their Jedi rank by providing liquidity to Jediswap pools. JediSwap is also developing a sustainable incentive model prioritizing user engagement, loyalty, and fairness.
Strategy: Provide liquidity.
Website: https://www.jediswap.xyz/
SithSwap is a dual-liquidity-engine AMM supporting variable pools (similar to UNIV2) and stable pools (similar to Curve). SithSwap operates on a dual-token incentive system consisting of its native SITH token and xSITH—a transferable utility and governance token—both offered as rewards.
In June 2022, SithSwap raised $2.65 million in a seed round at a $25 million valuation, led by Lemniscap. The project disclosed its tokenomics early on, with a total supply of 100 million SITH tokens:
50.1% allocated for reward releases, distributed over three years;
10% to core contributors, linearly vested over 1.5 years;
6.8% to treasury, with 2% for partnerships and 4.8% to the development fund;
10.6% to seed investors;
Of the 22.5% genesis allocation, 15% for public sale, 5% for initial liquidity, and 2.5% to the genesis pool for linear distribution of xSITH over six months.
Strategy: Provide liquidity in STRK/USDC, STRK/ETH, and USDC/USDT pools.
Website: https://sithswap.com/
Money Markets (Lending)
The “Starknet DeFi Spring” program for lending protocols begins on March 21. The currently announced participants are:
zkLend is a native L2 money market protocol built on Starknet. It raised $5 million in a seed round in March 2022, led by Delphi Digital, with participation from StarkWare, Three Arrows Capital, Alameda Research, MetaCartel DAO, Amber Group, among others. On February 6, 2024, zkLend stated that no snapshot had been taken yet.
Website: https://zklend.com/
vesu: A forthcoming lending protocol launching on Starknet. Official website not yet live.
Nimbor has integrated the decentralized lending protocol Liquity on Starknet, officially enabling users to use ETH as collateral to borrow LUSD at 0% interest rate.
Perpetuals / Options
Carmine is an options protocol on Starknet.
Strategy: Stake + trade.
Website: https://carmine.finance/
ZKX is a derivatives trading protocol built on Starknet. In April 2022, ZKX received a grant from StarkWare, and in July 2022, completed a $4.5 million seed round led by StarkWare, with participation from Alameda Research, Huobi, HashKey, Gate.io, Amber Group, Crypto.com, Polygon co-founder Sandeep Nailwal, and DragonFly Capital GP Ashwin Ramachandran.
Strategy: Trade.
Website: https://app.zkx.fi/
Whether the “Starknet DeFi Spring” can inject fresh momentum into the Starknet ecosystem remains to be seen.
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