DeFi Projects Starknet Hit $10mn
Starknet, an open-source framework that promises to bring scalability and anonymity to Ethereum-based decentralised applications, has seen remarkable growth in various DeFi apps on the network in recent months, with its TVL recently reaching a new all-time high.
According to DefiLlama, Starknet TVL is now worth $10.49 million, a tenfold gain from $1.449 million at the beginning of March.
TVL is a DeFi metric that measures the total value of assets locked or deposited within a specific protocol, platform, or smart contract. It can be used to gauge a project’s overall activity and popularity.
It’s no secret that crypto wallets require an upgrade, and quickly. But, as the parts and actors driving this transformation emerge, so does a debate about what to term the effort. Some refer to it as account abstraction, while others refer to it as EIP-4337.
Starknet, developed by the Israeli company StarkWare, is intended to address the Ethereum blockchain’s limitations, such as high transaction fees and slow transaction processing times, by enabling off-chain computations and data storage while still leveraging the blockchain’s security guarantees.
(With inputs from Shikha Singh)
You need to login in order to Like
