Ethereum Layer-2 Scaling Network Starknet Announces Token Airdrop
Ethereum layer-2 scaling network Starknet has revealed details about its highly anticipated token airdrop, scheduled to launch on February 20. The airdrop will distribute free tokens to nearly 1.3 million eligible wallets as part of a “provisions program” organized by the Starknet Foundation. Beneficiaries include Starknet users and developers, decentralized app (dapp) users affiliated with the network, and even Ethereum stakers who have no prior exposure to Starknet.
The airdrop will provide users with STRK, the network’s new native token. However, the creators emphasize that STRK tokens hold significance beyond their potential value on secondary markets. They will play a crucial role in supporting a new governance structure for Starknet, where STRK tokens represent voting power.
Token Allocation and Eligibility
A total of 1.8 billion STRK tokens will be distributed to Ethereum users between February 20 and June 20. The number of tokens allocated depends on the user’s level of activity on the network. Early community members who contributed to the network’s development can receive between 500 and 180,000 STRK.
Dapp users of StarkEx-powered platforms such as dYdX, Immutable X, Rhinofi, and Sorare are eligible for an allocation of 111.1 STRK if they used these dapps before June 1, 2022.
Ethereum developers, contributors, and stakers can also claim STRK tokens, even if they have never interacted with Starknet or a StarkEx-powered app.
Growth of Starknet
Starknet has experienced significant growth recently. At the beginning of 2023, the network held less than $1 million in crypto assets. However, the total value locked (TVL) on the network has surged to over $56 million, according to Defi Llama. Since the announcement of the airdrop, TVL has increased by over 75%.
Hot Take: Starknet Airdrop Empowers Community and Governance
The Starknet token airdrop represents an important step towards decentralization and community empowerment. By distributing STRK tokens to a wide range of users, including developers and Ethereum stakers, Starknet aims to foster a democratic governance structure. The tokens will serve as voting power, allowing users to have a say in the network’s future direction. Additionally, the growth of Starknet’s TVL demonstrates increasing interest and confidence in the platform. The airdrop is set to strengthen Starknet’s position as a leading Ethereum layer-2 scaling solution.
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