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Starknet Foundation Empowers Community with STRK Token Distribution Plan
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The Starknet Foundation has unveiled its STRK token distribution plan, aimed at empowering its community. This initiative marks a significant step towards decentralization within the Starknet ecosystem. Starknet operates as an Ethereum Layer-2 network, leveraging ZK-Rollup technology. This innovative approach allows for efficient scaling of decentralized applications (dApps) on the Ethereum blockchain.
By utilizing ZK-Rollup, Starknet addresses scalability challenges, enabling smoother and more cost-effective transactions. The primary role of Starknet lies in facilitating the scalability of decentralized applications. With its Layer-2 solution, Starknet enhances the performance and usability of dApps, offering users a seamless experience while interacting with the Ethereum network. This scalability is crucial for the widespread adoption and success of decentralized applications across various industries and use cases.
Starknet Foundation’s STRK Token Distribution Plan Unveiled
The distribution plan for the STRK token rollout by the Starknet Foundation is set to commence, with nearly 1.3 million eligible wallets poised to receive rewards. This distribution initiative spans a timeline from February 20th to June 20th, affording eligible users four months to claim their STRK tokens. In total, over 700 million STRK tokens will be distributed, constituting 7% of the total token supply of 10 billion. This allocation underscores the foundation’s commitment to decentralization and community governance within the Starknet ecosystem.
Eligibility for claiming STRK tokens extends to various segments of the community, including early users of Starknet, Ethereum contributors, and open-source developers. Notably, these groups have played integral roles in the advancement and testing of Stark-based technology. A detailed breakdown reveals that more than half a million Starknet users and 600,000 StarkEx users are eligible to claim STRK tokens.
Additionally, 137,000 open-source developers and 19,000 ETH stakers have met the criteria for participation. The eligibility criteria were determined based on transaction volume and frequency of interaction with the network, requiring a minimum of $100 in cumulative value transacted and more than six transactions.
Read Also: Ethereum L2 Starknet Earmarks 1.8B STRK for its Mega Airdrop
Community Initiatives Foster Growth within Starknet Ecosystem
In addition to the STRK token distribution plan, the Starknet Foundation has spearheaded various community initiatives aimed at bolstering participation and decentralization within the ecosystem. These initiatives include the devonomics program launched in December and forthcoming endeavors such as rebates and subsidies to incentivize ecosystem activity.
The Starknet ecosystem thrives on community involvement, underscoring the importance of active participation in driving growth and decentralization. Through collaborative efforts and engagement from users, developers, and contributors, Starknet continues to evolve and expand its capabilities, ensuring a vibrant and resilient network for decentralized applications.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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