The Starknet Token Distribution and Backlash
The Starknet token distribution is set to begin in a week, with 728 million tokens being airdropped to the community. However, core contributors and investors will receive nearly twice as many tokens, totaling 1.314 billion STRK, just two months after the token becomes tradable. This has caused controversy within the crypto community.
Delayed Unlocking of Investor Tokens
The unlock schedule for investor tokens was originally supposed to occur in November 2023, following the token generation event. However, it was delayed by five months due to the token not being ready. This delay has resulted in a shorter time frame between when traders can buy the tokens and when investors can sell their discounted tokens on the open market.
Criticism and Concerns
The approach taken by Starkware has faced widespread criticism in the crypto community. Many believe that unlocking such a large portion of investor tokens shortly after the real launch is unfair and predatory. Some individuals have called for a delay in the unlocking of investor tokens to address these concerns.
StarkWare’s Response
Despite the backlash, Starkware is standing by its plan. The company believes that its approach is balanced and recognizes the commitment of both builders and investors to STARK technology. The token unlocking process will occur gradually, with some tokens becoming available in April and more unlocking each month thereafter.
Similar Cases in Other Projects
This method of token distribution is uncommon but not unprecedented. Another project, Neon, faced a similar situation where investor tokens would be unlocked more quickly than anticipated. This serves as a reminder for investors to be cautious and aware of potential delays or discrepancies between token generation events and token circulation.
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