Starknet Foundation to Distribute Over 700 Million STRK Tokens

The Starknet Foundation has announced the distribution of over 700 million native tokens of the Ethereum Layer 2 network, StarkNet, to nearly 1.3 million addresses.

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STRK
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Read more: https://t.co/XQwhiecHhT pic.twitter.com/loV0YgDde0

— Starknet Foundation (@StarknetFndn) February 14, 2024

Applications for receiving STRK will be available from February 20. Users can check their eligibility for the airdrop on the Starknet Provisions program page. 

Applications for tokens can be submitted over four months. Unclaimed STRK will return to the distribution pool.

The announced airdrop is the first round of the Starknet Provisions initiative, which allocates 900 million STRK. In total, 1.8 billion tokens (18% of the issuance) are planned for community needs.

According to the statement, the token distribution aims to reward early StarkNet users, early community members, and developers, including the entire Ethereum ecosystem.

The necessary criteria for users include:

• more than five transactions in the network before November 15, 2023, with a total volume of at least $100;
• online activity for at least three months;
• a balance of 0.005 ETH or more as of the above date.

Community members were selected for the airdrop under the Starknet Early Community Member Program.

In January, the StarkNet team deployed the Alpha v0.13.0 update, enabling transaction fee payments with its own tokens alongside ETH. 

“Future plans for distributing STRK among the community include discounts and initiatives from various special committees dedicated to DeFi, gaming, and more. More detailed information will be provided later,” stated the Starknet Foundation.

Experts at CoinGecko have included the project’s airdrop in the list of promising token distributions expected in 2024.