Starknet Foundation Unveils Token Distribution Strategy
Expansive Reward Plan for Diverse Contributors
The Starknet Foundation has disclosed its plans for distributing its native token, STRK, signaling a significant reward opportunity for nearly 1.3 million wallets. This initiative is set to benefit a wide range of participants within the ecosystem, including early dapp users, network contributors, Ethereum builders, and open-source developers from beyond the web3 sphere.
Distribution Details and Eligibility
A Four-Month Window for Claiming STRK Tokens
Scheduled for publication today, the official allocation outline by the foundation’s provisions unit will detail the STRK distribution. Eligible recipients can verify their qualification for the token rewards, with the distribution set to commence on February 20. Eligible wallets will have until June 20 to claim their STRK tokens, with over 700 million tokens—equating to 7% of the total 10 billion token supply—designated for distribution.
The Purpose and Vision Behind STRK
Facilitating Decentralized Governance and Network Scaling
Starknet, an Ethereum Layer-2 solution utilizing ZK-Rollup technology, aims to enhance the scalability of decentralized applications through the STRK token. The token is envisioned to foster decentralized governance and community-led network management. “The STRK Token was conceived to decentralize STARK-based scaling, empowering the community to steer Starknet’s future,” remarked Diego Oliva, CEO of the Starknet Foundation.
Recognizing Community Contributions
Acknowledging Early Adopters and Ethereum Contributors
The distribution plan honors the contributions of community members who have engaged with StarkEx-powered dapps like dYdX, ImmutableX, Rhinofi, and Sorare since StarkEx’s inception in 2020. Ben-Sasson, a core contributor and co-inventor of Starknet’s underlying technology, expressed satisfaction in recognizing these early supporters.
Eligibility Criteria and Distribution Scope
Wide-ranging Eligibility Across the Ecosystem
Eligibility for the STRK token encompasses early Starknet and StarkEx users, Ethereum contributors such as Protocol Guild members, EIP authors, and solo stakers, in addition to open-source developers external to web3. The eligibility criteria, based on a November snapshot, considered transaction volume, frequency, and interaction with the network.
Supporting Ecosystem Growth
Community Initiatives and Incentive Programs
The token distribution by Provisions is among several initiatives aimed at nurturing the Starknet ecosystem. These efforts include the devonomics program and forthcoming rebates and subsidies to boost ecosystem activity, highlighting Starknet’s commitment to fostering an active and vibrant community.
