Crypto wallet Argent’s latest partnership with the Starknet blockchain will allow developer teams to build startups on the latter’s Layer-2 network.
New Startup Incubator - Hito Studios
The upcoming Hito Studios, born of the partnership between Argent and Starknet foundation, will fund builders and developers looking to launch on the Starknet blockchain. Talking about the initiative and the decision to work with Argent on this project, Starknet Foundation CEO Diego Oliva said,
"We have achieved significant milestones in enhancing the performance and scalability of Ethereum on Starknet. Nevertheless, to achieve widespread adoption, it is also crucial to foster the participation of numerous teams in developing products that address substantial issues and deliver meaningful value to users."
Support, Separate Funding For Hito Startup
Argent co-founder Itamar Lesuisse believes that the time is right to strike the iron, as there has been significant progress in the industry toward addressing scalability and user experience concerns.
He said,
“Argent is a company that has been razor-focused on building genuine use cases in crypto that help improve people’s lives, and due to recent technical innovation on Starknet, we’re seeing more and more ambitious founders looking to do the same thing,”
Thanks to the existing infrastructure, the Argent wallet and UX platform are ready for use. The startup incubator will also provide other necessary infrastructure that an upcoming startup needs, including legal support and hiring.
The project is already drawing support from other teams on the Starknet network, like the NFT marketplace, Unframed, and the decentralized exchange, Ekubo.
Lesuisse also revealed that a separate fund consisting of millions of dollars has already been allocated for multiple projects, like NFT verticals, DEXs, derivative platforms, options, and lending, that can showcase the different capabilities of the Starknet network.
Starknet Trying To Boost User Activity
The two companies have been partners for a while now, with the Argent wallet being the wallet of choice on the Starknet blockchain. The latter’s latest quantum leap update in July was groundbreaking as it significantly boosted the rate of transactions per second. Soon after, the team also launched its “appchains” framework to allow developers to construct several application-specific blockchains within the Starknet ecosystem.
Its work with Argent to launch Hito Studios is just another move to boost user activity on the Starknet blockchain by offering a layer-2 solution to really expand the abilities of Ethereum.
Lesuisse said,
"We are surfing on Starknet's growth, it's really where the action happens for us. It's more important for the ecosystem to grow than Argent's market share to grow."
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
