STRK Token Distribution Plan Unveiled by Starknet Foundation for Nearly 1.3 Million Eligible Wallets

Crypto News- STRK Token Distribution Plan Unveiled: The Starknet Foundation has just unveiled its comprehensive plan for distributing its native token, offering rewards to nearly 1.3 million eligible wallets. These rewards are earmarked for various contributors to the ecosystem, including early adopters of dapps within the network, as well as those who have actively contributed to its development.

Starknet, a prominent Ethereum Layer-2 network, has been pioneering scalability through its innovative ZK-Rollup solution. The introduction of the STRK token is a crucial step towards decentralizing and governing the network, as highlighted in the foundation’s recent statement.

Diego Oliva, CEO of the Starknet Foundation, emphasized the community-centric nature of the STRK token, stating, “The STRK Token was created to facilitate a more decentralized approach to STARK-based scaling. Its design empowers the Starknet community to collectively manage and operate the network, with Provisions serving as a vital mechanism in achieving this goal.”

STRK Token Distribution Plan Unveiled by Starknet Foundation for Nearly 1.3 Million Eligible Wallets

Beginning on February 20, eligible wallets—totaling 1.297 million—will have a four-month window, until June 20, to claim their allocation of STRK tokens. This distribution encompasses over 700 million tokens, constituting 7% of the total supply of 10 billion tokens.

Core contributor Eli Ben-Sasson, renowned for his role in co-inventing the technology behind Starknet, expressed gratitude towards the community members who have been actively involved in testing STARK-based solutions since the launch of StarkEx in 2020. Notably, early users of Starknet and StarkEx-powered dapps, such as dYdX, ImmutableX, Rhinofi, and Sorare, will be among those recognized and rewarded.

Starknet Foundation Announces Token Distribution Plan: Over 1.3 Million Wallets Eligible for Rewards

In addition to these early adopters, Ethereum contributors—including members of the Protocol Guild, authors of Ethereum Improvement Proposals (EIPs), and individual stakers—alongside open-source developers from outside the web3 ecosystem, are also eligible to claim the token.

The distribution eligibility criteria were determined based on a November snapshot, taking into account factors such as transaction volume and frequency of interaction with the network. Users were required to meet specific thresholds, including a cumulative transaction value of at least $100, engagement in at least five transactions, and activity spread across different time intervals.

The token distribution plan, overseen by Provisions, represents one of the many community-driven initiatives spearheaded by Starknet contributors. These efforts, including the devonomics program launched in December and forthcoming rebates and subsidies, aim to foster increased engagement and activity within the ecosystem.