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- The Starknet Foundation has shared its plan to distribute STRK tokens to the community, marking a significant step towards making Starknet more decentralized.
- Utilizing ZK-Rollup with Starknet addresses the challenge of managing numerous transactions, making them smoother and more cost-effective.
- The distribution plan for STRK tokens, outlined by the Starknet Foundation, is set to begin, offering a process where nearly 1.3 million eligible wallets will receive rewards.
Starknet, which operates as a Layer-2 network using ZK-Rollup technology on Ethereum
Starknet Announces Distribution Plan for STRK Token
The Starknet Foundation has shared its plan to distribute STRK tokens to the community, marking a significant step towards making Starknet more decentralized. Starknet operates as a Layer-2 network using ZK-Rollup technology on Ethereum. This innovative technology enhances the functionality of decentralized applications (dApps) on Ethereum.
Utilizing ZK-Rollup with Starknet addresses the challenge of managing numerous transactions, making processes smoother and more cost-effective. The primary goal of Starknet is to enhance the performance of dApps. By using the Layer-2 solution, Starknet makes dApps faster and more user-friendly, encouraging increased participation in decentralized applications across various domains.
The distribution plan for STRK tokens outlined by the Starknet Foundation is set to commence, offering a process where nearly 1.3 million eligible wallets will receive rewards. This distribution initiative will take place between February 20 and June 20, providing users with a four-month window to claim their STRK tokens.
In total, over 700 million STRK tokens, constituting 7% of the total token supply of 10 billion, will be distributed. This allocation underscores the foundation’s commitment to decentralized governance and community management within the Starknet ecosystem.
Criteria for claiming STRK tokens extend across various community segments, including early Starknet users, contributors to Ethereum, and open-source developers. Notably, these groups have played significant roles in the development and testing of Stark-based technology. A detailed review indicates that over half a million Starknet users and 600,000 StarkEx users are eligible to claim STRK tokens.
Additionally, 137,000 open-source developers and 19,000 ETH investors meet the participation criteria. The criteria for claiming rights are based on transaction volume and frequency of interaction with the network, including a minimum requirement of $100 in value and six transactions.
Community Initiatives Support Growth Within the Starknet Ecosystem
In addition to the STRK token distribution plan, the Starknet Foundation has led various community initiatives aimed at fostering participation and strengthening the decentralized structure within the ecosystem. These initiatives include the devonomics program launched in December, encompassing upcoming ventures such as repayments and incentives to encourage ecosystem activities.
The Starknet ecosystem thrives on community participation, emphasizing the importance of active involvement to sustain growth and a decentralized structure. Through collaboration and participation among users, developers, and contributors, Starknet evolves and expands its capacities, providing a lively and resilient network for decentralized applications.