For the past year and half, we have been committed to supporting the Starknet ecosystem by distributing grants to innovative open-source projects looking to take their goals to the next level. The objective has been to further develop the ecosystem, attract quality developers and support the projects being built on it.
We have successful distributed over 1,385,000 STRK to a number of amazing projects and have always strived to make the distribution process as simple and fair as possible!
Up till now there were no other structures within the foundation to provide grants to projects. However, the Starknet Foundation has now a number of strong support systems to help projects grow and reward their teams.
This led us to ask: How can we make the most of the bi-monthly grants that we offer in a way that differs from the foundation's?
While distributing these grants, we’ve noticed that some projects prioritize rewarding their team rather than external contributors. While there is nothing wrong with this approach, it contradicts the primary goal of expanding the developer community within Starknet.
So how should we incentivize projects that are working with external contributors and bringing in new talent? How can we provide more visibility and support to smaller projects that are equally innovative but less recognized?
Our suggestion
To address these questions directly, we are introducing a new approach to distributing grants.
Our goal is to support innovative projects in the ecosystem and further reward those that collaborate and onboard external contributors. Recognizing the time and effort this requires, we believe that increased rewards will be beneficial. Additionally, we aim to provide extra support to smaller projects that might otherwise go unnoticed.
Starting with this application cycle we will introduce two new elements to improve the voting and grant distribution process:
A. Fixed monthly sum allocation: For the next six months, part of the grant budget will be allocated on a monthly basis to projects that have previously gone through the committee's voting process. This means you will not need to reapply for another six months. We will consider both the previous and current committee ratings to suggest a fixed budget allocation for this period.
B. Performance-Based variable: In addition to the fixed monthly budget allocation, you will be able to receive complementary budget based on performance. This will be according to:
- How many external contributors you have onboarded
- Whether you participate in the ODHacks
Let’s take a look at the first metrics. Depending on how many external contributors you have onboarded (above 3), you may receive up to 20K STRK in grants.
For the second, participating in ODHacks can earn you a grant of up to 50K STRK depending on how many external contributors you have onboarded. As a reminder, ODHacks is an initiative designed to onboard developers to open-source projects and encourage new contributions.
How it will work
Rest assured: nothing much will change for applicants or for voters! Here is how it will go:
Application Process:
- The core application process remains unchanged. Projects submit their applications, which are then reviewed by a committee selected by OnlyDust based on specific criteria.
- A new question will be added asking whether the project is interested in participating in ODHacks.
Grant Distribution:
Selected projects will receive funding on a monthly basis for six months, removing the need to reapply every bi-monthly cycle.
Monthly grants will therefore include a fixed amount, plus additional bonuses based on their performance. See above suggestion.
Support for Smaller Projects:
Smaller projects with less visibility will be encouraged to participate in ODHacks, providing them with more opportunities for funding and collaboration.
With this new approach, we aim to encourage project development as well as attract quality developers within the Starknet community. We hope that these adjustments will ensure a fairer distribution of grants, enabling innovative projects to thrive and draw new talent to the ecosystem. As always, if there are any questions, you know where to find us!