Introduction
Starknet, a prominent Ethereum layer-2 scaling solution, embarks on a significant milestone with the distribution of its native network token, STRK, commencing on February 20th, 2023.
Token Allocation
A total of approximately 700 million STRK tokens have been allocated across nine distinct recipient categories:
- Ethereum Stakers
- Starknet Developers and Users
- Web3 Projects and Developers
- Open-Source Developers (outside Web3 ecosystem)
- Ethereum Community Members
- Protocol Guild Contributors
- Ethereum Improvement Proposal Authors
- Ethereum Solo Stakers
- Liquid Staking Token Users
Eligibility and Distribution
Approximately 1.3 million wallets qualify for STRK token distribution. Eligibility is based on verifiable past activity, including contributions to Starknet’s development and usage of Stark-based applications.
A dedicated portal has been established by the Starknet Foundation to assist individuals in determining their eligibility.
Token Utility
STRK tokens serve as multifunctional resources within the Starknet ecosystem:
- Governance Participation
- Transaction Fee Payment
- Planned Future Staking
Vision and Philosophy
StarkWare co-founder Eli Ben-Sasson emphasizes the prioritization of Starknet users, contributors, and developers in the token distribution. The objective is to foster user engagement and contributions to the network.
Diego Oliva, CEO of the Starknet Foundation, underscores the aim of inclusivity within the wider development space.
Scams and Precautions
Prospective token recipients are advised to exercise caution regarding potential airdrop scams. The team urges individuals to utilize only the official Starknet provisions portal.
Devonomics: Empowering Developers
StarkWare and the Starknet Foundation further announce the allocation of a 10% cut of network fees to developers through the “Devonomics” pilot program. 8% of these fees will be provisionally distributed to DApp builders, while 2% will be allocated to infrastructure engineers and core developers via transparent voting.
Conclusion
Starknet’s token distribution marks a pivotal step in its journey towards empowering the Ethereum ecosystem. The allocation of STRK tokens to various stakeholders fosters inclusivity, innovation, and the long-term sustainability of this innovative scaling solution.
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