Starknet Releases $STRK Token Distribution Plan

Starknet Releases $STRK Token Distribution Plan

Reported by The Block, the Starknet Foundation has unveiled its native token distribution plan, with nearly 1.3 million wallets eligible for a reward — including early users of ecosystem dapps, network contributors, and others.

“The STRK Token was born so that STARK-based scaling can happen in a more decentralized way. The token design helps Starknet to be run and managed by the community, and Provisions is a powerful means to achieve this,” said Diego Oliva, CEO of Starknet Foundation.

On February 20, the distribution will allow some 1.297 million wallets to claim the STRK token. They will have four months — until June 20 — to claim. The total distribution includes more than 700 million STRK tokens — or 7% of the total supply of 10 billion tokens.

Besides early users of Starknet and StarkEx, Ethereum contributors — including members of the Protocol Guild, EIP authors, and solo stakers — and open-source developers from outside web3 are eligible to claim the token.

Overall, more than half a million Starknet wallets and over 600,000 StarkEx ones are eligible. Additionally, 137,000 open-source developers and 19,000 ETH stakers also made the cut.

The criteria for user eligibility for the distribution were based on a November snapshot that looked at the amount of transactions and how often users interacted with the network. The criteria included $100 in cumulative value transacted, over five transactions, and activity in separate time intervals, although these are separate conditions.

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