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Ethereum layer-2 project Starknet will debut its native token through an airdrop on February 20, as over 700M STRK tokens will be distributed to 1.3 million addresses.
The Starknet ecosystem team has announced plans to commence the first phase of its groundbreaking Provisions Program, a strategic move to roll out its native tokens (STRK) to the public.
Starting February 20, 2024, at 12:00 PM (UTC), over 700 million STRK will be airdropped to nearly 1.3 million addresses.
Starknet is an Ethereum Layer-2 scaling solution that leverages a permissionless ZK-Rollup technology to improve the scaling of decentralized applications.
Eligibility Criteria
According to a Medium post today, Starknet will distribute the tokens to network contributors, early users of ecosystem decentralized applications (dApps), stakers, developers of specific non-crypto projects, and Ethereum contributors.
Beneficiaries can check their eligibility status on the Provisions portal to know the number of tokens they can claim on February 20.
Notably, users can claim the STRK tokens within four months after the launch of the program. All tokens not claimed within the stipulated period will be moved to the pool to be claimable in future rounds.
Number of STRK Allocated to the Community
It bears mentioning that STRK has a total supply of 10 billion tokens. The team noted that 1.8 billion STRK, or 18% of the total supply, will be dedicated to the community in batches.
Out of 1.8 billion tokens, the community will receive 900 million STRK through the Provisions program. During the first phase of the Provisions program, over 700 million will be airdropped to eligible beneficiaries, while the remaining will be distributed in subsequent rounds.
Per the eligibility data, the tokens will be airdropped to addresses belonging to 506,896 early users, 19,006 ETH stakers, 137,256 open-source developers, 695 EIP authors, 13,432 Ethereum developers, 160 Ethereum Guild members, 622,996 StarkEx users, 1,540 Starknet developers, and 2,098 Starknet ECMP members.
Data from decentralized exchange Aevo shows that the STRK/USD pre-launch perpetual futures is trading at $1.85, with a 24-hour volume of $736,511.
With a pre-market price of $1.85, STRK could launch with a market cap of $1.29 billion. For context, the valuation is calculated by multiplying the pre-market price with the upcoming circulating supply of over 700 million tokens.