crypto-news-flash.com
- Starknet Foundation has launched the “Provisions Program” meant to distribute 700 million STRK to 1.3 million addresses.
- The program would start at 12pm (UTC) on February 20, 2024, and users would have four months to claim the tokens.
Starknet Foundation has announced the launch of the Starknet Provisions Program to mark the debut of Starknet Token (STRK) into the market. This program would enable the allocation of STRK to the Starknet community. In this round, about 700 million STRK would be distributed to about 1.3 million addresses. According to the report, 1.8 billion STRK has been dedicated to the community, out of which 900 million STRK would go into the provision program.
Starkware co-founder Eli Ben-Sasson said in an interview with Decrypt that although more than 1.3 billion STRK tokens (valued at more than $2.15 billion) will be unlocked in April, he believes this will not cause harm to the community and the team’s main focus is Drive the…— Wu Blockchain (@WuBlockchain) February 15, 2024
The program would start at approximately 12 pm (UTC) on February 20, 2024. After the launch, claiming would be available for four months. After the period, unclaimed tokens would be reclaimed to the pool for distribution in future rounds. STRK would be distributed to Starknet users, developers, and community contributors. It is important to note that individuals will need the latest version of the Starknet wallet with an up-to-date account to claim the airdrop.
Today, the Starknet Foundation is proud to introduce the Starknet Provisions Program, the first distribution of Starknet’s native token — Starknet Token (STRK) — to the dedicated community building and using the dApps that will become commonplace tomorrow. STRK is set to play an important role in several aspects of the Starknet network, including paying network fees, staking, and participating in governance votes.
More on the Starknet Token Distribution
Users can claim their provisions through the portal at https://provisions.starknet.io, and all fees would be covered by the Starknet Foundation. Individuals from Cuba, Iran, North Korea, Syria, or any sanctioned country would not be eligible for this distribution. On top of that, the provisions would not be available to any US persons.
An official post explaining the giveaway also hints that the process would go through four values and principles – Contribution, Broad Allocation, Transparency, and Expansion of Ethereum adoption. Those eligible include the early users of Starknet. These are those who have completed more than five transactions as of November 15, 2023, active for at least three months, and transacted more than $100 volume or more.
Eligible users should also have 0.005 ETH or more in their account as of November 15, 2023. Tokens would be dropped 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.”
Starknet’s ecosystem members play a vital role in the network’s growth and success. They include early code contributors, Starknet event organizers, community managers, and those who have helped expand Starknet’s reach and enhance its developer education. Through their continuing efforts, they have contributed code, educated, raised awareness, and expanded Starknet to new audiences. The Starknet Early Community Member Program (ECMP), which is part of Provisions, was created to address these contributors.
According to Aevo data, the STRK/USD pre-launch perpetual futures is trading at $1.85. It is reported that the asset could be launched with a market cap of $1.29 billion.