Starknet achieved at least $276 million in total value locked (TVL) upon reactivating its ecosystem, a figure driven by an aggressive rewards program for Bitcoin deposits. StarkWare CEO Eli Ben-Sasson indicated that this result validates the strategy of transforming the pioneer cryptocurrency into a productive and liquid asset.
The surge, which according to DefiLlama successfully doubled July’s deposits, coincides with the Starknet Foundation’s campaign distributing 100 million STRK tokens. However, the rapid influx of capital has raised suspicions regarding the presence of “mercenary capital” that could migrate as soon as the incentives end. Adding to this are recent technical challenges, such as the nine-hour outage suffered in September following the Grinta upgrade, which calls into question current stability against rivals like Arbitrum.
In the coming weeks, the market will undoubtedly be watching the network’s reliability closely, especially following the implementation of the new S-two prover designed to improve speed and efficiency. Starknet’s sustainability will depend on whether its infrastructure can support the volume without failures and if it manages to retain Bitcoin users once financial subsidies run out.
Source: https://defillama.com/chain/starknet
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