The Starknet Foundation Allocates 1.8 Billion STRK Tokens
The Starknet Foundation, the organization behind the Ethereum Layer 2 network Starknet, has revealed its plan to distribute over 1.8 billion STRK tokens across various initiatives. This move aims to promote the adoption and growth of the Starknet blockchain.
Allocation Breakdown
Out of the total allocation, 900 million STRK tokens will be given to the Provisions Committee. This committee will distribute ownership of the native token and reward past and future contributions from users and community members. The team is currently in the process of distributing these tokens.
Another 900 million STRK tokens will be allocated as user rebates for transaction fees within the network. A newly established committee will oversee this program and acknowledge users for their significant transactions on the network.
An initial reserve of 500 million STRK tokens will be used to incentivize activity on DeFi protocols. The DeFi Committee is responsible for this initiative, which aims to enhance liquidity, trading volume, and overall development of the DeFi ecosystem on Starknet.
Airdrop Rumors Addressed
Starknet functions as a decentralized Layer 2 network on Ethereum, utilizing a zero-knowledge roll-up solution. This strategy involves processing multiple transactions off-chain before publishing them collectively on the Ethereum network.
Recently, there were rumors about a potential airdrop circulating on social media. However, the foundation clarified that these screenshots depicted draft plans still under development. The eligibility cutoff date for the airdrop has already been established, and no further user actions can affect this deadline.
In October, the foundation announced its Early Community Member Program (ECMP), which includes plans to distribute around 50 million STRK tokens.
Hot Take: Starknet Foundation Drives Adoption and Incentivizes Users
The Starknet Foundation’s allocation of 1.8 billion STRK tokens across multiple initiatives demonstrates its commitment to driving adoption and growth in the Starknet blockchain. By distributing tokens to users, community members, and incentivizing activity on DeFi protocols, the foundation aims to enhance liquidity, trading volume, and overall development within the ecosystem.
By
By
By
