Unlocking of Starknet Tokens Airdrop Raises Concerns
Starkware co-founder Eli Ben-Sasson faced criticism over the unlocking of more than 1.3 billion Starknet (STRK) tokens, equivalent to over 13% of the total supply, on April 15, just two months after the airdrop to investors and contributors planned for Feb. 20. Many in the crypto community feel that this deviation from the standard industry practice, where tokens are typically locked up for a longer period, is alarming and could potentially lead to volatility in the market.
- Concerns raised about the unlocking of 1.3 billion STRK tokens on April 15.
- Deviation from standard industry practice where tokens are locked for a longer period.
- Crypto community wary of potential volatility in the market due to early unlocking.
Starkware CEO’s Response
In response to the criticism, Starkware CEO Eli Ben-Sasson told Decrypt that the deviation from industry practices for the STRK airdrop was a strength, not a weakness. He emphasized that Starkware, already being a trusted entity, does not need lengthy token locks and that the 150-employee team is deeply committed to the project. Ben-Sasson also dismissed the notion that lengthy token locks prevent price volatility, arguing that the price could also plunge after a one-year lock up. He firmly believes in rewarding investors and contributors early and is confident that his team will not take advantage of the airdrop structure.
- Ben-Sasson defends Starkware’s deviation from industry practices.
- States that Starkware’s 150-employee base is committed to advancing the project.
- Dismisses the idea that lengthy token locks prevent price volatility.
- Confident that the team will not take advantage of the early airdrop structure.
Other Airdrops to Watch
Meanwhile, another airdrop that has caught the attention of investors is the one planned by SMOG, a Solana-based meme coin. The team behind SMOG has claimed that this airdrop will be the greatest in history, and 35% of the token’s supply has been allocated for airdrops. The specifics of the airdrop are expected to be shared soon.
- Investors keeping an eye on the upcoming airdrop by SMOG, a Solana-based meme coin.
- Team claims it will be the greatest airdrop in history.
- 35% of the token’s supply allocated for airdrops.
As of now, SMOG is up 25% in the past 24 hours, trading at $0.05243 as of 8:00 a.m. EST.
Final Thoughts
The controversy surrounding the unlocking of more than 1.3 billion STRK tokens has sparked a heated debate within the crypto community. While Starkware defends its decision, critics remain wary of the potential repercussions. Additionally, the anticipation of the upcoming SMOG airdrop adds to the growing excitement in the crypto space. With all eyes on these developments, it’s clear that the world of airdrops and token unlocks continues to be a topic of interest and concern for investors and enthusiasts alike.
Remember to stay informed and vigilant as you navigate the ever-evolving crypto landscape! 🚀
By
By
By
By
By