The Starknet Foundation Unveils Native Token Distribution Plan
The Starknet Foundation has announced its plan for distributing its native token, with approximately 1.3 million wallets eligible for rewards. This includes early users of ecosystem dapps and network contributors. The foundation’s provisions unit will release the official STRK allocation outline today, allowing users to check if they qualify for distribution.
About Starknet and the STRK Token
Starknet is an Ethereum Layer-2 network that utilizes a ZK-Rollup solution to scale decentralized applications. The STRK token aims to decentralize and govern the network, enabling community management. Diego Oliva, CEO of the Starknet Foundation, explained that the token design empowers the community to run and manage Starknet.
Token Distribution Details
Starting on February 20, approximately 1.297 million wallets will be able to claim the STRK token. Users have until June 20 to make their claims. The total distribution consists of over 700 million STRK tokens, which accounts for 7% of the total supply of 10 billion tokens.
Eligibility Criteria for Token Distribution
In addition to early users of Starknet, Ethereum contributors, open-source developers from outside web3, and solo stakers are eligible to claim the token. This includes over half a million Starknet users, 600,000 StarkEx users, 137,000 open-source developers, and 19,000 ETH stakers. Eligibility was determined based on a snapshot that considered transaction amounts and frequency of interactions with the network.
Community Initiatives in the Starknet Ecosystem
The provisions overseeing the token distribution plan are part of various community initiatives within the Starknet ecosystem. These initiatives include the devonomics program launched in December and upcoming incentives like rebates and subsidies to encourage ecosystem activity.
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