Ethereum Layer-2 Network Starknet Announces Airdrop for STRK Token

The Starknet Foundation has detailed its plans for the distribution of the STRK token in today’s announcement. Starknet is an Ethereum Layer-2 network that utilizes a ZK-rollup solution to scale decentralized applications.

According to the announcement, approximately 1.3 million wallets, including Starknet users, developers, community contributors, and others, are eligible to receive an airdrop. The token, as per the shared details, will contribute to the decentralization and governance of the network.

Starknet stated that the airdrop starts on February 20, 2024, and will last until June 20. To check if they are eligible for the airdrop, users have been introduced to the Provisions portal.

The Starknet Foundation stated that out of the allocated 900 million STRK tokens for the initial distribution program, 700 million STRK tokens will be distributed. Additionally, it was mentioned that a total of 1.8 billion STRK tokens (18% of the total supply) have been allocated for distribution.

In the Starknet announcement, it was noted that users who contributed to StarkEX, a Layer-2 scalability engine, were also eligible for the airdrop. Users who performed at least eight transactions with StarkEX before June 1, 2022, were eligible, which amounted to over 500,000 Starknet wallets.

User eligibility for the distribution was determined based on survey criteria measuring the frequency of communication with the network and the number of interactions users had on the network as of November. Starknet’s STARK system has been reviewed by Ethereum’s founder, Vitalik Buterin.

The airdrop qualifications for Starknet’s STRK token primarily cater to three groups: Starknet users, developers, and ecosystem contributors; Ethereum builders, stakers, and open-source developers.