Starknet Foundation Establishes DeFi Committee to Boost Ecosystem

blockchain.news:

Starknet Foundation has officially launched its DeFi Committee. Announced on November 9, 2023, the committee is set to play a pivotal role in developing Starknet's DeFi landscape. This initiative marks a strategic step by the Foundation, demonstrating its commitment to expanding and nurturing the DeFi sector within its network.

The DeFi Committee, chaired by six prominent members from various facets of the crypto and blockchain industry, has been meticulously selected by the Starknet Foundation Board. Members include Damian from Starknet Foundation, Itamar Lesuisse of Argent, Jane Ma from zkLend, Mentor Reka of AVNU, Richard Thomas-Pryce of Nostra, and Vitaly Yakovlev from ZKX. These members bring a wealth of knowledge and expertise, positioning the committee to effectively strategize and implement its goals.

The committee's mission is multifaceted but centers around the development of an on-chain liquidity incentive program. This program aims to establish Starknet as a leading choice for both developers and users of DeFi applications. The committee's effectiveness will be assessed using primary metrics such as Total Value Locked (TVL) and daily trading volume, alongside secondary metrics like liquidity spread and depth.

The DeFi Committee of Starknet Foundation has outlined a detailed roadmap to steer its efforts in enhancing the DeFi ecosystem, spanning across four crucial phases.

Initially, the committee will focus on the Strategy Assessment phase. This involves a thorough evaluation of the network's current capabilities, focusing on its readiness to support core DeFi functionalities. The team will examine the existing infrastructure to determine how it can better cater to the needs of various DeFi projects,