🧑‍🌾 The 1st harvest phase is almost here 🧑‍🌾 

In my previous article, I mentioned that January and February mark the end of our time as early adopters of Starknet. Today, I want to emphasize that we only have a few weeks left before a wave of new users joins Starknet.

With this influx of users, numerous new and lucrative opportunities will arise. However, competition will also intensify, making it more challenging for farmers to easily farm the dApps within the ecosystem. For instance, it is currently relatively effortless to be among the top 2000 users of each dApp, but soon, it won't be as simple.

And don't misunderstand me, I am very excited and eager to enter this new phase. However, it is important for us to recognize the opportunity at hand and fully capitalize on it to maximize our farming potential. This will enable us to position ourselves ahead of the upcoming crowd 😏 

This article covers the following two topics 👇

I. The calm before the storm 💨 

II. The top dApps that I am farming intensively, why, and how 🧑‍🌾 

Note that this content only represents my opinion and that this is not financial advice. Always do your own research before making any decisions.

I. The calm before the storm 💨 

A. The calm

Despite a recent surge in engagement and mentions of Starknet on social networks, the on-chain activity on it remains relatively flat.

Notably, although the TVL in the ecosystem's dApps is approaching an ATH, we are still within the range we have been in since the end of September.

In terms of the overall TVL of the network, the observation is the same.

On its side, the daily activity is even at its lowest point in the past 6 months.

While others may use these metrics to FUD Starknet, I see a unique opportunity - our last one before the storm hits Starknet. It will be interesting to compare the aforementioned metrics with those in 3 months, but I am totally sure that they will have skyrocketed.

Why? Because there is one thing that is about to change everything and make the ecosystem finally explode.

B. The upcoming storm

Personally, I see the evolution of Starknet as follows:

• Phase 1: Before Starknet v0.12, users were ULTRA early on Starknet. If you have been following me from the beginning, you are likely part of this category and have experienced transactions taking more than 1 minute to execute. What a time!

• Phase 2, the current phase: After Starknet v0.12 (July 12, 2023), users have transitioned from ultra early to early. Notably, this new version of Starknet allowed the network to enhance its capacity and provide a user experience similar to other L2 solutions. Naturally, this attracted a wave of new users to the network.

• Phase 3: The launch of the STRK token will mark the beginning of the rapid expansion phase of Starknet.

I believe that this Phase 3 will start as soon as the STRK token is released for two main reasons.

The first reason is that the launch of the STRK token will attract a lot of attention and liquidity to Starknet. Centralized exchanges (CEX), the primary onboarding gateway for users in the crypto space, are already making some noise around the token:

• Binance: How to Buy Starknet token

• Bitget: How to buy Starknet (STRK)

• Kucoin: indirectly, but we know why they renamed the token

Considering that and the potential trading volume that the STRK token will bring, it is certain that all major CEX will list it. This includes CEX such as Binance, Bybit, Coinbase, Kucoin, OKX, and more.

The listing itself will introduce Starknet to many people, but what excites me the most is the possibility that these CEX will also list the Starknet network, enabling direct fund transfers between Starknet and these CEX. Can you imagine being able to send your ETH and stablecoins directly from Binance to your Braavos wallet? Well, I believe it will soon be possible! By the way, OKX and Bitrue already offer this possibility (but to be verified, I haven't used a CEX for ages).

In addition to this, major media outlets and influencers will also spread the word about the release of the STRK token, its Provisions (/airdrop), and its listing on CEX. This combination will attract many new users to Starknet, and these new users will have the ability to easily transfer their funds to and from Starknet, speculate on the growth of Starknet, and use the STRK token to generate yield. And be sure that I will assist them in finding the best opportunities if they follow me 😏

All of these will increase the overall trading volume of DEX, resulting in higher APR for liquidity providers. This, in turn, will enhance liquidity on the network and improve trading rates. Ultimately, this cycle will further elevate the trading volume, creating a virtuous cycle.

The second reason is that, in addition to everything mentioned above, the Starknet Foundation has plans to launch two initiatives:

• Upcoming on-chain incentive program

• Rebates

The first program is scheduled for Q1 2024 and will have a budget of 50M STRK tokens, with the goal to address the liquidity needs of DeFi dApps. This program will probably offer an APR boost on the network's dApps by providing a STRK token yield boost for LPs. For example, if we currently have a 15% APR from trading fees on the USDC/USDT pool on Ekubo, with this program, we will have 15% from fees plus an additional 10% boost paid in STRK tokens.

In summary, I expect a program similar to Sui, which has had a highly successful impact on its network's TVL.

On its side, the Rebate program will allow us to earn STRK tokens simply by…. using the network! Under this program, a portion of the gas fees we paid to use the network will be reimbursed in STRK tokens.

In summary, the first point mentioned will enhance the visibility and accessibility of Starknet and its ecosystem, while the second point directly incentivizes its usage. With both whales and ‘normal’ users joining in large numbers soon, there are still a few weeks left to accumulate as many points as possible everywhere 😏

II. The top dApps that I am farming intensively, why, and how 🧑‍🌾 

I personally believe in the Pareto law and sincerely think that 20% of your actions are responsible for 80% of your results. I try to apply this law in my farming activity, and instead of spreading my capital everywhere, I focus on the dApps that have the most potential (in my opinion, NFA, DYOR).

Let's examine each one of them.

1. AVNU

AVNU is the best place to trade on Starknet, offering the best execution on all of your trades: best UX, best trading rate, optimization of gas fee & speed, while providing a wide range of features.

Furthermore, the AVNU team is highly active in terms of Business Development, establishing partnerships with all key players in the Starknet ecosystem. Their swap solution is notably integrated on Argent, the leading wallet on Starknet in terms of users, as well as the Money Market Nostra Finance and the bridge aggregator Rango Exchange.

Currently, AVNU has a trading volume exceeding 1.3 billion dollars, while its closest competitor, Fibrous, which launched at the same time, only has a volume of $230 million.

The good news for us, crypto users who are always eager to assist with the decentralization of projects (😏), is that AVNU has already announced their plan to decentralize the project. Additionally, AVNU has also launched a points leaderboard to monitor everyone's activities.

To farm this dApp, you need to accumulate points, and to do it in the best possible way (IMO), you need to:

• Make trading volume

• Increase your number of transactions

• Aim to make at least 1 transaction every two weeks

• Inviting your friends to the platform

To start farming, head over here.

Regarding AMMs below, for those who want to understand the smallest details of my choices, I advise you to read this article.

2. Ekubo

Ekubo is the only UniV4-style AMM available on Starknet. Its optimizations surpass the competition, making it the current clear winner on Starknet:

• Ekubo pools generate over 70% of the daily volume on aggregators, highlighting its superior pool optimization.

• While other DEXs are losing momentum and TVL, Ekubo continues to progress in terms of volume and TVL. Currently, it is the dApp that has the highest TVL on Starknet.

A token is already in the work, and to farm it, you need to climb the ranking of the Ekubo leaderboard. But note that:

• Swaps do not count towards earning points.

• Liquidity does not contribute directly either.

• Only the fees you generate will generate points to help you climb the leaderboard.

Considering that the Concentrated Liquidity (CL) mechanism is more complex than LP on an AMM v2, you will need to actively manage your liquidity if you want to be among the top participants.

For all CL beginners, I recommend you to read at least tweets 7 to 11 of this thread.

The good news is that a new AMM v4 is coming and will offer automatic management of our CL: Haiko. This project will be released very soon on Mainnet, and I will farm it with full size. Count on me to provide you with a comprehensive thread about it!

3. mySwap

Another AMM, but the only one that currently offers concentrated liquidity along with Ekubo. Furthermore, the team behind mySwap is the same as the one behind the @myBraavos wallet, and the AMM is integrated into the wallet's swap feature. So, if you are bullish on the Braavos wallet, you should also be bullish on mySwap.

To farm it:

• Provide liquidity on their v2 and/or v3 pools

• Participate in their Zealy campaign.

If they follow the same model as they do with Braavos, where all community contributions are tracked via Zealy, potential future rewards will primarily be based on it.

3.1. AMM bonus

In terms of AMM, Ekubo and mySwap represent approximately 80% of my AMM farming. The remaining 20% (LP) is distributed among the following:

• JediSwap, a simple v2 AMM that is currently preparing for the release of its v3 (CL)

• StarkDefi, a hybrid AMM combining v2 and stablepools

• SithSwap, a hybrid AMM combining v2 and stablepools, although the team appears to be completely inactive since some months

4. Nostra

Nostra is a money market and the fastest-growing dApp on Starknet, being the second-largest dApp in terms of TVL.

Farming on Nostra is very easy, especially since they recently launched their leaderboard.

To farm and earn points on it , you simply need to do the following:

• Lend

• Borrow, but be careful about liquidation if you choose to borrow.

• Refer friends

If you want to support me and earn a 5% lifetime bonus, click on the following link.

5. zkLend

zkLend is another money market, and it is the oldest one still active on Starknet. It has notably raised $5M from top-tier VC.

To farm on it, simply lend and borrow funds. Unlike Nostra, there is no leaderboard available.

To provide you with a comparison, I am currently splitting my funds on these two dApps as follow: 75% for farming on Nostra and 25% for zkLend.

Conclusion

The imminent arrival of the STRK token, the launch of on-chain incentive program, as well as the Rebate program will mark a new phase of rapid and continuous growth for Starknet. These three events will significantly increase the activity and TVL of the network and attract a large number of new builders and dApps to Starknet.

Am I too optimistic about the upcoming arrival of the STRK token and its effects on Starknet? Perhaps. Will I further strengthen my activity and positions on Starknet? Absolutely! In this market, it is essential to have convictions and to follow them with size, and the future growth of Starknet is one of my strongest convictions.

As we wait to confirm the validity of my thesis, a sense of calm remains, enabling us to actively and aggressively farm our favorite dApps in the ecosystem. If my thesis proves correct, the number of active wallets will soar, the TVL will increase by at least five times, and it will become significantly more challenging to rank among the top users of our preferred dApps.

So, for all those who believe in the potential of Starknet, this month of February (or at the latest, March) is our last time as early adopters of Starknet. Let's make the most of it.