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DeFi Projects Built on Ethereum Scaling Solution Starknet Hit $10M

Starknet, an open-source framework that aims to bring scalability and privacy to decentralized applications (dApps) built on Ethereum, has seen dramatic growth in various DeFi apps on the network over the past few months, with its total value locked (TVL) recently hitting a new all-time high. As of yesterday, Starknet TVL stands at $10.49 million, a whopping ten-fold increase from $1.449 million at the beginning of March, according to DefiLlama. Developed by Israeli-based company StarkWare, Starknet is designed to address the limitations of the Ethereum blockchain, such as high transaction fees and slow transaction processing times.

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