The Top Ten Potential Projects in the Ethereum L2 Ecosystem Starknet

In 2023, Starknet thrives as the ecosystem of Ethereum's Layer 2 scaling solution. This article will introduce the ten most promising projects within it, while briefly outlining the features of Starknet.

Starknet is a decentralized L2 protocol based on ZK-Rollup technology. It uses the STARK cryptographic proof system, providing unlimited scalability for decentralized applications while maintaining the composability and security of Ethereum. Starknet contracts are written in Cairo language, supporting the deployment of various business logic. According to statistics, the total value locked (TVL) in the network has surpassed $1.1 million, growing by over 4000%.

STRK Token

In November 2022, Starknet deployed the native token STRK on the Ethereum mainnet. This token will be used for governance, staking, and fee payments within the ecosystem. Tokens held by the core team and contributors will have a 4-year lock-up period, with gradual release starting one year later. The specific allocation plan has not yet been finalized.

Account Abstraction

Account abstraction technology solves the problem of needing to remember mnemonic phrases and private keys for traditional self-custody wallets by creating wallets based on smart contracts. This innovation is widely used in the Starknet ecosystem, with projects like Argent X and Braavos being early adopters.

1. Argent X Wallet

Category: Wallet Status: Mainnet

Argent X is a decentralized wallet that features multi-signature security and social recovery functionalities. It provides comprehensive protection for user assets through multi-factor authentication and a trusted address approval mechanism. Argent X also introduces new features such as seedless wallets, 2FA authentication, mobile support, and DAO multi-signature.

2. Braavos

Category: Wallet Status: Mainnet

Braavos is a self-custody wallet based on Starknet smart contracts, supporting iOS, Android, and browsers. It aims to provide a seamless user experience similar to Web2 and plans to launch services such as staking and lending. Braavos also supports account segmentation, allowing users to set withdrawal limits and delays to differentiate between long-term savings and daily expenses.

3. Orbiter Finance

Category: Cross-Chain Bridge Status: Mainnet

Orbiter Finance is a decentralized cross-Layer 2 bridge that supports low-cost instant transfers between networks such as ETH mainnet, zkSync, and Arbitrum. It employs a dual-role mechanism of Sender and Maker to ensure transaction security through smart contracts.

4. StarkGate

Category: Bridge Status: Mainnet

StarkGate is a token bridge between Ethereum and Starknet developed by StarkWare. It supports the transfer of ETH and ERC-20 tokens between L1 and L2, utilizing Starknet's messaging mechanism to achieve secure and efficient cross-chain operations.

5. ZKX

Category: DeFi (Derivatives Futures Contracts) Status: Testnet

ZKX is the first self-custodial and community-governed perpetual futures exchange on Starknet. It offers a scalable trading experience through a decentralized network of nodes, providing perpetual swaps and derivatives services for global users. ZKX has completed a $4.5 million seed round financing, with investors including StarkWare, Amber Group, and others.

6. zkLend

Category: DeFi (Lending) Status: Testnet

zkLend is an L2 currency market protocol based on Starknet, combining the efficient performance of zk-rollup technology with the security of Ethereum. It offers solutions for both institutional and regular users, balancing compliance and decentralization.

7. Starknet.id

Category: NFT Status: Mainnet

Starknet.id is the identity identification service of the Starknet ecosystem, similar to Ethereum's ENS. Users can mint their personal Starknet identity for free, serving as an on-chain passport and representation. The project plans to develop features such as ENS bridging and identity dashboards.

8. JediSwap

Category: DeFi (Exchange) Status: Mainnet

JediSwap is a permissionless AMM exchange on Starknet. Users can conduct token swaps with zero gas fees without losing control of their funds, only paying a 0.3% trading fee.

9. Nostra

Category: DeFi Status: Testnet

Nostra is building liquidity infrastructure for Starknet, including three core products: a money market, the native stablecoin UNO, and a trading platform.

10. Brine

Category: DeFi (Cross-Chain DEX) Status: Testnet

Brine is a cross-chain decentralized exchange that uses an AMM-based order book model to solve the slippage problem. The platform charges a fixed trading fee of 0.1%, with no additional gas fees.

These projects showcase the diversity and innovation of the Starknet ecosystem, covering various fields such as wallets, cross-chain bridges, DeFi, and identity verification. As Starknet technology continues to mature, these projects are expected to achieve greater development in 2023, bringing new possibilities for Ethereum scaling solutions.