Top 10 Projects in the Starknet Ecosystem, L2 Market May Experience a Big Explosion in the Second Half of the Year.

Top 10 Projects in Starknet Ecosystem, L2 Market to Surge in Second Half of Year.

Starknet is an permissionless Layer 2 network developed by StarkWare, where anyone can deploy smart contracts developed in the Cairo language. Starknet tokens are necessary for operating, maintaining, protecting, determining the value and strategic objectives, and guiding the development of the ecosystem.

StarkNet tokens will primarily have three use cases: paying for StarkNet network fees, staking to participate in network consensus, and community governance voting. The initial supply of StarkNet tokens is 10 billion, with 17% allocated to StarkWare investors, 32.9% allocated to core contributors, and 51% allocated to the foundation. Additionally, the token has an inflation mechanism, and new minted tokens and a portion of transaction fees will be awarded to core infrastructure developers and smart contract developers.

The latest update is that Starknet v0.12.1 has officially launched on the mainnet, indicating the end of the “quantum leap” of the Starknet mainnet.

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According to current information, the Cancun upgrade included in EIP4844 is expected to take place between October 2023 and January 2024.

As for the market, we have mentioned in previous articles that during a downturn, opportunities still exist! Click to view “What to Do When the Market is Down? Opportunities Still Exist!”

For our view on Layer 2, click to view “The Narrative of L2 Has Arrived, Traders Should Not Be Late to Position Themselves in a Bull Market!”.

In summary, no matter how it falls, the current market is different from before. Bullish and bearish trends do not happen overnight. Downtrends come with rebounds, and uptrends come with corrections. Therefore, although we have believed since June that the market will decline, there are still many opportunities within. In the L2 sector, besides ARB and OP that have already launched, which are relatively stable potential buying opportunities in the market, there are also zksync and starknet that have not yet launched. Apart from airdrop opportunities, you can position yourself early in these ecological projects, and there is a high probability of having 1-2 projects that will be listed on BN, with the potential for tenfold or even hundredfold returns.

Now let’s take a look at the top ten ecological projects we consider for starknet.

1. Argent (Wallet)

Argent is a non-custodial crypto wallet that combines easy access to Dapps with security features such as recovery without mnemonic phrases, trusted contacts, and multi-signature. Argent’s smart contract architecture makes these features possible.

Funding Information:

2022-04-28 Argent completed a $40 million Series B financing.

2020-03-09 Argent completed a $12 million Series A financing with a valuation of $45 million.

2018-11-23 Argent completed a $4 million seed round financing.

The current latest valuation should reach about $400 million, with investment institutions such as Fabric Ventures, Metaplanet, LianGuairadigm, and StarkWare. You can pay attention to the interaction of this wallet to obtain potential airdrops. This project is currently the leader in the wallet track of the starknet ecosystem.

2. Braavos (Plugin Wallet)

Braavos is a smart contract-based wallet used for managing funds and NFTs and connecting to dApps on StarkNet.

On October 31, 2022, Braavos completed a $10 million financing, with an estimated valuation of around $100 million.

Investment institutions include LianGuaintera Capital, Brevan Howard Digital, Road Capital, and StarkWare.

Currently, this application has a large user base and relatively high social media attention.

3. Jediswap (DEX)

JediSwap is a fully permissionless and composable AMM inspired by Uniswap V2 on StarkNet. Users can trade assets instantly without losing custody of their funds. JediSwap is led by the Mesh community.

Currently ranked first among decentralized finance applications on the starknet chain, this project is also one of the top DEX projects in the current starknet ecosystem.

4. ZKX (Derivatives Trading)

ZKX is a permissionless derivatives protocol built on StarkNet, with a decentralized order book and a unique way of providing complex financial instruments as swaps. The protocol is supported by DAO and offers a higher trading experience through gamified leaderboards and unique liquidity governance.

On July 14, 2022, ZKX completed a $4.5 million seed round financing, with investment institutions including StarkWare, Amber Group, HashKey Capital, etc.

ZKX adopts a decentralized order book, combining the advantages of a centralized order book (CLOB) used by dydx, which has fast speed, high liquidity, and low gas, with the security and transparency advantages of a virtual automated market maker (vAMM) used by GMX and GNX.

For detailed analysis, please refer to the previous article: “[ZKX] Starknet’s Ace Ecosystem Project!”

5. MatchboxDAO (gamefi)

MatchboxDAO is an on-chain game ecosystem based on Starkware, helping new game applications enter the game field of the StarkNet ecosystem. The two core products of MatchboxDAO are Matchbox SLianGuairk and Matchbox Studios. Matchbox SLianGuairk incubates game products on StarkNet, while Matchbox Studios is a set of development tools that accelerate StarkNet game development.

On August 17, 2022, MatchboxDAO completed a $7.5 million financing, with investment institutions including StarkWare, Fabric Ventures, 1kx, etc.

6. zkLend (Lending)

zkLend is a decentralized lending protocol built on StarkNet, combining the scalability of zk-rollup, excellent transaction speed, and cost savings through Ethereum’s security.

On March 29, 2022, zkLend completed a $5 million seed round of financing, with investment institutions including Delphi Digital and StarkWare.

6. Orbiter Finance (Cross-chain Bridge)

Orbiter Finance is a decentralized cross-rollup bridge for transferring native assets on Ethereum. In Orbiter Finance, there are two roles: Sender and Maker. When the Sender initiates a transfer, the Maker provides liquidity. Smart contracts ensure the security of this process. If the Maker behaves improperly and the transfer fails, the Sender can initiate an arbitration request to the contract using the Maker’s collateral and receive additional compensation.

Currently, it is the most widely used cross-chain bridge on the StarkNet chain, with a social media following of 450,000 fans. According to our understanding, its latest valuation has reached $200 million.

7. zkLink (Trading Grid)

zkLink is a transaction-centric multi-chain L2 network with unified liquidity protected by ZK-Rollups. dApps built on the zkLink L2 network provide fast deployment solutions for decentralized and non-custodial order books, AMMs, derivatives, and NFT exchanges using seamless multi-chain liquidity.

On May 4, 2023, zkLink completed a $10 million strategic financing.

On October 23, 2021, zkLink completed an $8.5 million financing round.

Investment institutions include Coinbase Ventures and Big Brain Holdings.

8. Nostra (Liquidity Layer)

Nostra is a one-stop DeFi solution built on StarkNet, where users can borrow, lend, and trade cryptocurrencies. The Nostra liquidity layer consists of the Nostra money market, UNO (StarkNet native stablecoin), and Nostra Swap (Stablecoin DEX).

9. Pragma (Oracle)

Pragma Network is a zk rollup-native oracle that leverages zk computation for increased capacity and provides improvements in verifiability, composability, and functionality.

On July 15, 2022, Pragma Network completed a $7 million seed round of financing, with investment institutions including Variant Fund, CMT Digital, Flow Traders, and StarkWare.

10. Starknet.id (Domain Name)

Starknet.Id is the identity and naming service for StarkNet, where users can create StarkNet identities for free and link them to Twitter, Discord, or GitHub accounts.

Currently, the social media following has reached 200,000 fans, most of whom are attracted by airdrops, so the popularity is relatively high, but further observation is still needed.

The last thing I want to share with everyone is that the market has its cycles. You can break down this cycle into larger cycles, calculated on an annual basis, and then into smaller cycles, calculated on a quarterly basis. You don’t need to monitor the rise and fall of the market every day, nor do you need to constantly place orders. Just grasp the trend, especially in the primary market. The ability to earn good returns often comes from being willing to take risks during the cycle, which can bring about exponential growth in returns.

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