Starknet Foundation Rewards Early Contributors with 50 Million STRK Tokens

Crypto News- In a groundbreaking and exciting development, the Starknet Foundation has made a significant announcement regarding the distribution of approximately 50 million STRK tokens that are currently locked. This distribution is part of the Early Community Member Program (ECMP) within the permissionless ZK-Rollup ecosystem, which serves as a Layer-2 blockchain solution built on top of Ethereum.

In a recent blog post shared by the Starknet Foundation, it’s clear that the project is committed to acknowledging the valuable contributions of early ecosystem supporters and rewarding them with tokens.

Starknet Foundation Rewards Early Contributors with 50 Million STRK Tokens

It’s important to note that these tokens allocated for the ECMP represent only a small portion of the ten billion STRK tokens that have been minted but are currently under lock and key. The plan is to unlock these tokens on April 15, 2024, opening up new possibilities for the ecosystem.

The official announcement from the Starknet Foundation has captured the attention of the community, emphasizing the importance of recognizing individual contributions that have had a profoundly positive impact on the ecosystem. Prominent Chinese reporter Colin Wu, known for his insights on blockchain and cryptocurrency, took to social media to shed light on this significant move.

For those eager to participate in this program, the Starknet Foundation has extended an invitation to eligible candidates to register between October 30, 2023, and November 23, 2023. After this registration period, a thorough evaluation of each applicant’s contributions will take place, considering factors such as their impact, originality and significance. The winners of this program are set to be announced on December 29, 2023.

This initiative by the Starknet Foundation not only demonstrates their commitment to their early supporters but also showcases the growing importance of Layer-2 solutions within the blockchain space. It will be interesting to see how this distribution of tokens further strengthens the ecosystem and incentivizes continued contributions.