On December 8, 2023, the Starknet Foundation, the organization behind the Ethereum Layer 2 network Starknet, officially announced a plan to allocate 1.8 billion STRK tokens.
The token allocation process will be delegated by the Starknet Foundation to the “Provisions Committee” to oversee and ensure that the tokens are distributed for the intended purposes. The distribution plan for STRK tokens is as follows:
– 900 million STRK for rewarding contributors: These tokens will be distributed in multiple phases to individuals who have contributed in the past and will contribute in the future. The first phase will occur soon.
– 900 million STRK for fee refunds to users.
– 50 million STRK to promote the DeFi ecosystem: This allocation is scheduled for deployment in Q1/2024 to incentivize liquidity within the DeFi ecosystem.
It’s worth noting that this token allocation plan comes shortly after the Starknet Foundation confirmed the snapshot timing and upcoming airdrop. Currently, the eligibility criteria and deployment timeline for the airdrop have not been announced yet.
“We have spent a long time working on the initial distribution phase, and we are nearly complete. Official information will be provided as soon as possible.”
– Starknet Foundation
The Starknet airdrop isn’t entirely unexpected to the community, as the project had previously mentioned the issuance of tokens and an airdrop to users a year ago.
Starknet is a Layer 2 solution integrating zk technology to support Ethereum’s scalability. This solution compresses multiple off-chain transactions into a single batch and publishes them on the Ethereum network. Starknet is developed with support from StarkWare and is currently operated by the Starknet Foundation.