The Starknet Foundation has introduced the Early Community Member Program (ECMP) to reward and incentivize those who have contributed to the development of the Starknet ecosystem. As part of this program, approximately 50 million STRK tokens will be allocated. The foundation aims to recognize individuals who have made significant technological contributions, actively participated in ecosystem projects, organized events, and shared content related to Starknet. Potential recipients can register until November 19, and the final list of participants will be announced by December 29.
The Starknet Foundation was established in November 2022 by the team behind StarkWare. It currently holds a significant portion of the original token supply, which amounts to about 5 billion STRK tokens or 50.1% of the total supply. These tokens are not yet tradable, and their exact valuation remains uncertain. The reward funds from this allocation are expected to support the growth and development of the Starknet community until the tokens become tradable.
Starknet is currently ranked as the sixth-largest Layer 2 blockchain with a Total Value Locked (TVL) of around $143 million, according to L2Beat data. The foundation expressed its gratitude to the community for their contribution and emphasized the importance of their role in a blog post. The organization is governed by a council of seven members, including Eli Ben-Sasson, Co-Founder and Chairman of StarkWare.
Other Layer 2 competitors like Arbitrum and Optimism have also implemented community incentive programs.
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