The Starknet Foundation has announced a native token distribution plan that will see nearly 1.3 million wallets eligible for rewards, including early users of ecosystem dapps and network contributors. The foundation's regulation department today published an official summary of STRK allocations, allowing users to check whether they are eligible for an allocation.
Starknet is an Ethereum Layer-2 network that leverages the ZK-Rollup solution to scale decentralized applications. According to the statement, the token will help decentralize and manage the network.
“The STRK token was born to allow STARK-based scaling to be performed in a more decentralized way. The token design helps Starknet be run and managed by the community, and Provisions It’s a powerful way to achieve that,” said Diego Oliva, CEO of the Starknet Foundation.
Approximately 1,297,000 wallets will be able to claim STRK tokens following the distribution on February 20th. They have four months to make their claims, by June 20th. The total distribution includes over 700 million of his STRK tokens, which represents 10% of his total supply of 7 billion tokens.
“Since StarkEx went live in 2020, members of the community have battle-tested STARK-based technology. We're happy to be recognized,” said Ben-Sasson, core contributor and cryptographer who co-invented the technology behind Starknet.
Who is eligible?
In addition to initial users of Starknet and StarkEx, Ethereum contributors including protocol guild members, EIP creators, solo stakers, and open source developers outside of web3 are also eligible to claim tokens.
Overall, over 500,000 Starknet wallets and over 600,000 StarkEx wallets are eligible. Additionally, 137,000 open source developers and 19,000 ETH stakers also qualified, according to eligibility data shared with The Block.
User eligibility criteria for the distribution was based on a November snapshot that looked at transaction volume and how often users interacted with the network. Conditions include a cumulative transaction amount of $100, six or more transactions, and activity in different time intervals, but these are separate conditions.
The provisions overseeing the token distribution plan are one of many community initiatives by Starknet contributors. Others include the debonomics program launched in December and upcoming rebates and subsidies to encourage ecological activities.
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