Early Adopter Grants (EAG) Committee: Establishing a Strong Foundation for Starknet Builders

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

Starknet, the Layer-2 scaling engine for Ethereum, has been making major headlines since its noteworthy launch in February 2021. With features such as increased efficiency and reduced gas usage, it is a technology that has been causing ripples in the community. The recent establishment of the Early Adopter Grants (EAG) Committee by the Starknet Foundation on March 23 has made the project even more promising for early developers. In this article, we explore the purpose of the EAG Committee and how the allocation of STRK tokens can help early builders become stakeholders in the Starknet ecosystem.

What is the Early Adopter Grants (EAG) Committee?

The EAG Committee is a team established by the Starknet Foundation whose primary objective is to assign STRK tokens to early builders of on-chain applications on the Starknet platform. This allocation of tokens incentivizes developers to build on Starknet, and participate in network operations through the pledge and vote. Early builders play a crucial role in shaping the direction of the project and it’s important to give them a seat at the table.

How are the STRK Tokens Allocated?

The EAG Committee has a budget of up to 10000000 STRK tokens to distribute among multiple rounds. These tokens are assigned to project-related parties, who are qualified to receive them based on their participation in the ecosystem. The allocation is made in rounds and is dependent on the quality of the project and the impact it can have on the ecosystem. This mechanism ensures that the tokens are given to the most deserving projects that can contribute positively to the network.

How Early Builders Benefit from the STRK Token Allocation?

Early builders working on Starknet projects are recognized as crucial to the success of the platform. The STRK token allocation aims to incentivize these early builders to create valuable applications on the network. Furthermore, receiving STRK tokens allows early builders to become stakeholders in the project, empowering them to have a say in network decision-making. As early partners and participants in the ecosystem, developer participations adds an extra layer of security to the platform

How to apply for the STRK token Allocation?

Any project or team that is focused on building on Starknet is eligible for the token allocation. The Starknet Foundation has made it clear that it is focused on applications with high impact and scalability. Projects need to provide formal documents (whitepapers or proposals) outlining their ideas and implementation approaches. The submission should be clear, concise, and robust to highlight the community value of the project. The project needs to provide a timeline with milestones, costs and a fully working technical implementation. Once verified by the committee, the token allocation will be made.

Conclusion

The establishment of the EAG Committee by the Starknet Foundation represents a significant move in empowering early builders on the platform. The allocation of STRK tokens provides incentives for early developers to contribute to the ecosystem and get involved in the decision-making process as stakeholders. This approach encourages a broader community to participate in the project to drive it forward. While the allocation of tokens plays a significant role in the success of the ecosystem, the quality of the applications built is equally integral.

FAQs

**Q1:** Is the STRK token allocation only for developers based in a particular region?
No, the token allocation is open to all developers who are interested in building on Starknet, irrespective of geography.
**Q2:** What is the timeline for distributing the tokens?
The tokens will be distributed in multiple rounds, with the schedule being decided by the EAG Committee.
**Q3:** Apart from the token allocation, can developers avail of any other benefits?
Yes, building on Starknet presents developers with an opportunity to become early participants in the ecosystem, opening avenues for networking, collaboration and recognition as contributors in the project.