Top Global Crypto Exchange Binance Adds Support for Ethereum Layer-2 Scaling Project Starknet (STRK)
Binance, the leading global cryptocurrency exchange, has introduced trading support for Starknet (STRK), a new layer-2 scaling solution for Ethereum (ETH).
Token Allocation and Claiming Process
Starknet recently initiated its first token distribution, planning to allocate over 700 million STRK tokens to nearly 1.3 million addresses. Eligible individuals and groups have a four-month window to claim their tokens. Any unclaimed STRK will be distributed in future rounds.
Binance’s Seed Tag System
Binance has attached a seed tag to STRK, indicating that the token has lower liquidity and higher volatility potential. Users who hold assets with seed tags must pass quizzes every 90 days to acknowledge the associated risks.
About Starknet and Layer-2 Scaling
Starknet is a decentralized validity rollup, also known as a zero-knowledge (ZK) roll-up. It is one of the two types of rollups used for layer-2 scaling on Ethereum. Rollups execute transactions off-chain but record all transactional data. ZK rollups perform computations outside the blockchain and then submit a validity report.
At present, STRK is ranked 60th by market capitalization and has experienced a decline of more than 53% from its initial price of $3.55. The current trading price of STRK is $2.05.
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