The organization behind the development of L2-project StarkNet, the StarkNet Foundation, plans to allocate more than 1.8 billion STRK tokens to “various initiatives” for blockchain deployment.
Now that the news is out, we might as well tell you more!
StarkNet is about each of you. Every user, builder and member of our community – existing and future – is a critical piece to building our network into the future of decentralisation for generations to come. The success…
— StarkNet Foundation (@StarkNetFndn) December 8, 2023
According to the statement, 900 million STRK have been allocated to the audit committee for “fair, decentralised and transparent distribution of funds across several programs and stages.” The team is already working on the first phase of the token distribution and promises to issue an official statement soon.
“The committee’s goal is to allocate ownership of the network’s native token and reward users and community members for past and future contributions to the project,” the statement said.
The second tranche of 900 million STRK is earmarked for network discounts for users. The initiative is in the planning stage, and a relevant authority is being formed to execute it.
“This marks a bold step in evaluating and expanding the possibilities of our community by returning transaction fees to users,” the team emphasised.
The StarkNet Foundation has also allocated 50 million STRK to spur activity of DeFi protocols built on the network. The program is overseen by a dedicated committee, which is finalising the research and plans to move to implementation in the first quarter of 2024.
Earlier, the organisation announced distribution of 50 million STRK among early members of the project’s community.
Earlier still, the developers delayed the first unlock of tokens to April 2024.