The Ethereum layer-two network Starknet has unlocked 728 million STRK tokens (7.3% of the total supply) for over 1.3 million wallets as part of an airdrop.
Token claiming is live ? pic.twitter.com/OYU1fvdulT
— Starknet ?? (@Starknet) February 20, 2024
Users can check available coins on the Starknet Provisions program page. Applications for token claims can be submitted over four months until June 20.
Eligible recipients include early users of Starknet and StarkEx, as well as members of the Ethereum community, including authors of EIP and some developers.
As is common with most airdrops, users encountered errors and network congestion when claiming STRK.
Simultaneously with the distribution, the token was listed on major exchanges, including Binance, Bybit, Bitfinex, and OKX.
Trading commenced in the $5-7 range, after which the price fell to around $2. At the time of writing, the token is priced at $2.7.
Trading volume for STRK has already exceeded $26 million, according to CoinGecko.
StarkWare CEO Eli Ben-Sasson thanked developers for their efforts and stated his commitment to the development of “independent networks for creating a global free community.”
Where I’m at
It’s 15 minutes before the Provisions Claiming starts. Want to share where I’m at:
* Grateful to the amazing ecosystem that has congregated around the vision of Integrity via Math
* Anxious regarding the technical load that will unfold, and potential technical…
— Eli Ben-Sasson (@EliBenSasson) February 20, 2024
He noted that the airdrop poses risks of technical failures due to user influx, which the team promised to address “quickly and professionally.”
Earlier, it was revealed that on April 15, the Starknet Foundation will unlock 1.314 billion STRK (~$3.38 billion at the time of writing) intended for core developers and investors. The community labeled the foundation’s actions as fraudulent due to “contrived” tokenomics.
In January, the Starknet team deployed an update Alpha v0.13.0, enabling transaction fee payments with its own tokens alongside ETH.