The open-source project Starknet, which offers a scalability solution for startups operating on the Ethereum network, has been mentioned frequently in recent months.
A remarkable growth has been recorded as a result of the increasing interest of DeFi developers in Starknet. On-chain data reveals increased interest in the project, especially since mid-March.
According to current data from decentralized finance tracker DeFiLlama, the total locked value (TVL) metric on Starknet has risen to $10.5 million as of today. If we examine the graph in question, it is observed that Starknet has grown 10 times in just two months.
The TVL metric is used to measure the market value of the total crypto assets invested in a particular platform, smart contract or protocol. Especially medium-term investors do not neglect to compare the changes in the TVL value of the projects while making their decisions.
JediSwap Domination!
JediSwap, the DeFi platform developed on Starknet, dominates the platform by far, embodying 57% of the TVL value. Eli Ben, one of the executives of parent company StarkWare, attributes the increasing interest to Rust, the new software language they use.
Starknet's next network update, called 0.12, will roll out in June.