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Ethereum Layer-2 Scaling Protocol Starknet Launches STRK Airdrop
Ethereum layer-2 scaling protocol Starknet recently launched an airdrop of its native network token STRK, leading to a surge in token claims and trading activity. Here’s a detailed look at the airdrop and its impact on the cryptocurrency market.
The Starknet Airdrop
More than 140 million STRK tokens have been claimed by approximately 128,000 users at the time of writing. The airdrop witnessed over 45 million tokens being claimed within the first 90 minutes of its launch, signaling widespread interest in the token.
In addition to token claims, STRK started trading on multiple exchanges, with the token achieving a peak price of $7 on Binance and surpassing $5 on KuCoin within hours of its debut. As of the latest data from CoinMarketCap, the STRK price stands at $2.01, with a market capitalization exceeding $1.4 billion.
Token Distribution and Eligibility
Over 1.3 million eligible wallets, including Ethereum solo and liquid stakers, Starknet developers and users, as well as projects and developers from the Web3 ecosystem, can claim STRK. The Starknet Foundation has introduced a comprehensive token provision framework and dedicated portal for individuals to verify their eligibility and receive STRK tokens.
Notably, more than 700 million STRK tokens will be distributed across nine categories, with a portion reserved for governance and transaction fees. The project also plans to incorporate staking for STRK tokens in the future. Furthermore, the distribution breakdown allocates 50.1% of STRK’s supply to the Starknet Foundation for community airdrops, grants, and donations.
Responding to User Feedback
There has been significant feedback from users regarding the eligibility criteria, particularly the need to hold 0.005 ETH. Starknet has acknowledged this feedback and is actively working on addressing concerns raised by community members and network users who felt overlooked due to specific provisions criteria. The foundation is committed to finding a resolution for users who were not considered eligible.
Starknet’s Growth and Future Plans
Since its inception in November 2021, Starknet has achieved a total value locked of nearly $55 million, positioning itself as one of Ethereum’s prominent Layer 2 solutions. The project has been instrumental in the development and implementation of zero-knowledge rollup technology, showcasing its commitment to advancing scalability and efficiency within the Ethereum ecosystem.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
