Missed the Starknet airdrop? Check out the 40 million STRK incentive program

Written by: Karen, Foresight News

The long-awaited Starknet token airdrop will open for claims today at 20:00. If you missed the Starknet airdrop or want to explore other opportunities in the Starknet ecosystem, be sure to check out the "Starknet DeFi Spring" program launched by the Starknet Foundation.

This program will last for six to eight months and will distribute 40 million STRK tokens to DeFi protocols participating on Starknet. These DeFi protocols will be able to allocate STRK to users on their platforms according to their designed incentive reward schemes.

In other words, interacting with these DeFi protocols provides the opportunity to receive both the platform's own token airdrop and STRK incentives, making it a win-win situation.

The rewards for this program will be determined and distributed every two weeks, expected to continue until October 2024. The first round of the program primarily targets DEXs, which will be eligible to implement their plans starting February 22, with participating users able to claim reward distributions from the protocol on March 7, 2024. According to disclosures from several DEXs, this round mainly focuses on liquidity providers on DEXs. Subsequently, lending protocols can participate in the program starting March 7, while options and perpetual protocols will be eligible to participate on March 14.

DEX

Ekubo is a Starknet ecosystem AMM protocol built by former Uniswap team engineers and advisor Moody Salem. Ekubo uses concentrated liquidity and a "till" model, managing all pools within a single contract.

Additionally, Ekubo supports customizing pool behavior through writing extension contracts, allowing third-party developers to utilize the Ekubo AMM protocol to build oracles, new order types, trading strategies, and even privacy solutions. Ekubo states that users will be able to earn STRK incentives by providing liquidity over the next six to eight months.

Strategy: Provide liquidity in STRK/ETH, STRK/USDC, ETH/USDC, and USDC/USDT. Some reward distribution factors include position capital efficiency and the duration of position activity.

Website: https://ekubo.org/

mySwap is an AMM protocol on Starknet with a concentrated liquidity (CL) configuration, allowing liquidity provision for specific price ranges to enhance capital efficiency or for the entire price range.

Strategy: Providing liquidity in STRK/USDC, STRK/ETH, ETH/USDC, and USDC/USDT pools can earn STRK rewards. Rewards are calculated retroactively every 14 days, and the reward share depends on the contribution to the liquidity of the pool.

Website: https://www.myswap.xyz/

Nostra is developed by the team behind the yield tokenization and fixed-rate protocol Tempus, serving as a liquidity layer on Starknet that supports lending and trading services. Nostra will also launch a Starknet native stablecoin UNO pegged to the US dollar. Users can deposit ETH into Lending, which can be converted to iETH-c, used as collateral for minting UNO. Tempus Labs allocated 5 million DAI to Nostra in August last year to support the development of the Nostra ecosystem.

Strategy: Provide liquidity in STRK/USDC, STRK/ETH, ETH/USDC, and USDC/USDT. Nostra's lending products 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. In traditional AMMs, liquidity positions are placed within static price ranges. In Haiko, positions are replaced by strategy vaults, which dynamically update positions for users based on custom smart contract logic, helping LPs automatically rebalance positions as prices change to adapt to evolving market conditions.

Strategy: Provide liquidity in STRK/USDC, STRK/ETH, ETH/USDC, and USDC/USDT. The amount of rewards is related to position size, duration (measured in blocks), and how close the position is to the market price.

Website: https://haiko.xyz/

StarkDeFi is a comprehensive DeFi solution hub on Starknet, with a product stack that includes basic AMM, limit order protocol, collaborative pools, liquidity mining, staking pools, liquidity lockers, launchpad, token minting, perpetual contracts, and other features.

The first phase of StarkDeFi's incentive program ReGenesis airdrop will end on February 22, allowing users to earn points through swaps and providing liquidity.

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 airdrop, and fees.

Website: http://www.starkdefi.com/

10KSwap is a DEX protocol based on Starknet, launched by 10K X. 10K X also launched the decentralized spot and perpetual contract protocol 10K DEX and the wallet 10K Wallet. Among them, 10K Wallet uses zero-knowledge proofs and EIP-4337, while 10K DEX supports market orders and limit orders for spot and perpetual contracts.

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 has received grants from StarkWare.

JediSwap launched Jediswap v2 this month, adding features including:

1. Concentrated liquidity: Strategically providing liquidity within a certain price range to maximize capital efficiency;

2. Custom fee tier pools: Users can add liquidity to different currency pools for the same currency pair and charge different exchange fees;

3. Identifying the most efficient paths to optimize price execution through an innovative router.

JediSwap will soon launch a leaderboard, allowing users to earn points and elevate their Jedi rank by providing liquidity to JediSwap pools. JediSwap is also developing a sustainable incentive model that prioritizes user engagement, loyalty, and fairness.

Strategy: Provide liquidity.

Website: https://www.jediswap.xyz/

SithSwap is a dual liquidity engine AMM that supports variable pools (similar to UNIV2) and stable pools (similar to Curve) trading. SithSwap is based on a dual-token incentive system, consisting of the native SITH token and xSITH (a transferable utility and governance token), both of which are provided as rewards.

SithSwap completed a $2.65 million seed round financing at a $25 million valuation in June 2022, led by Lemniscap. SithSwap disclosed its token economics early on, with a total supply of 100 million SITH tokens, of which:

• 50.1% is allocated for reward releases over the next 3 years;
• 10% is allocated to core contributors, released linearly over 1.5 years;
• 6.8% is allocated to the treasury, with 2% for partnerships and 4.8% for the development fund;
• 10.6% is allocated to seed round investors;
• 22.5% of the genesis portion, with 15% for public sale, 5% for initial liquidity, and 2.5% entering the genesis pool as xSITH, distributed linearly over 6 months.

Strategy: Provide liquidity in STRK/USDC, STRK/ETH, and USDC/USDT pools.

Website: https://sithswap.com/

Money Market (Lending)

The reward start date for lending protocols under the "Starknet DeFi Spring" program will begin on March 21, with the following participating protocols announced:

zkLend is a native L2 money market protocol built on Starknet, completing a $5 million seed round financing in March 2022, led by Delphi Digital, with other investors including StarkWare, Three Arrows Capital, Alameda Research, MetaCartel DAO, Amber Group, and others. On February 6, 2024, zkLend stated that it had not yet completed the snapshot.

Website: https://zklend.com/

vesu: A lending protocol soon to be launched on Starknet. The official website has not yet been released.

https://twitter.com/vesuxyz

Nimbor integrates the decentralized lending protocol Liquity on Starknet, officially stating that it allows the use of ETH as collateral to borrow LUSD at a 0% interest rate.

https://www.nimbora.io/

Perpetual Contracts / Options

Carmine is an options protocol on Starknet.

Strategy: Staking + Trading.

Website: https://carmine.finance/

ZKX is a derivatives trading protocol based on Starknet. In April 2022, ZKX received funding from StarkWare, and in July 2022, ZKX completed a $4.5 million seed round financing, with investors including StarkWare, Alameda Research, Huobi, HashKey, Gate.io, Amber Group, Polygon co-founder Sandeep Nailwal, and DragonFly Capital general partner Ashwin Ramachandran.

Strategy: Trading.

Website: https://app.zkx.fi/

Will the "Starknet DeFi Spring" inject more new vitality into the Starknet ecosystem? Let's wait and see.