Argent allocates ‘Several Millions’ through the Starknet Foundation for a Fresh Startup Studio

Having addressed infrastructure and UX challenges, Argent and the Starknet Foundation are once more collaborating to support builders aiming to debut on Starknet.

To catalyze further development within the Layer-2 network Starknet, the Starknet Foundation and the renowned Web3 wallet provider, Argent, are embarking on a dynamic partnership to introduce a cutting-edge startup incubator.

Introducing Hito Studios – a comprehensive platform that offers startups a holistic toolkit, encompassing vital components such as legal support and recruitment assistance.

Notably, esteemed Starknet-based teams like Unframed, a trailblazing NFT marketplace, and Ekubo, a decentralized exchange akin to Uniswap designed exclusively for Starknet, have enthusiastically joined forces to spearhead this exciting initiative.

Diego Oliva, the CEO of the Starknet Foundation, emphasized, “We’ve reached significant milestones in augmenting the performance and scalability of Ethereum on Starknet. However, to attain widespread adoption, it is imperative to nurture the engagement of numerous teams in crafting products that address significant challenges and provide substantial value to users.”

This strategic move follows the assertion by Argent’s co-founder, Itamar Lesuisse, that the industry has effectively tackled concerns surrounding scalability and user experience.

“As we stand today, we possess the requisite infrastructure, the wallet, and an exceptional user experience. What we unequivocally need now are compelling use cases,” Lesuisse emphasized in his conversation with Decrypt.

He further revealed that Hito Studios has allocated “several million” in funding for multiple projects that leverage the distinctive capabilities of Starknet to construct fundamental building blocks. “Naturally, we need NFT platforms, decentralized exchanges, derivative platforms, options, and lending. It’s a strategic imperative,” he remarked confidently.

Argent and Starknet have maintained a seamless collaboration, with the popular Web3 wallet emerging as the preferred wallet service for new entrants into the Starknet ecosystem.

Argent’s wallet, one of the pioneering platforms to implement account abstraction in production, has introduced innovations such as account recovery and experimented with concepts like session keys, facilitating transactions within the wallet for predefined periods without requiring constant user authorization.

Starknet, on the other hand, represents the complementary piece of the puzzle, providing a robust layer-2 solution that significantly enhances Ethereum’s capabilities.

The launch of Hito Studios serves as a strategic maneuver to introduce the missing element: heightened user activity within Starknet.

In the words of Lesuisse, “We’re riding the wave of Starknet’s growth; it’s where the action is for us. The growth of the ecosystem takes precedence over expanding Argent’s market share.”


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