Starknet Airdrop Reveals Details: 1.8 Billion STARK Tokens to Be Distributed
After a long wait, Starknet Foundation announces the end of a 1.8 billion token airdrop, exciting Turkish cryptocurrency users.
The long-awaited Starknet airdrop has finally come to an end, much to the excitement of Turkish cryptocurrency users. The Starknet Foundation, the organization responsible for the Ethereum Layer 2 network Starknet, has announced its plans to distribute a whopping 1.8 billion tokens as user rewards and refunds.
To oversee the distribution of these Layer 2 blockchain tokens, the Foundation will be employing various groups or "committees". One such committee, the "Provisioning Committee", will be responsible for rewarding users, including community members, with tokens. A total of 900 million Starknet (STRK) tokens will be gradually distributed to reward past and future contributions from users and community members, with the first distribution phase expected to begin in the first half of 2024.
Additionally, another 900 million STRK has been allocated for user refunds, with planning for this initiative still ongoing. This plan came to light after the foundation approved a token airdrop snapshot, when a draft of the eligibility criteria for the planned airdrop briefly appeared on its website and circulated on social media.
In an official statement, the foundation expressed their commitment to the Starknet community, stating that "Starknet is about each of you. Every current and future user, founder, and member of our community is a critical part of making our network the future of decentralization for generations to come. The success of Starknet depends on it."
The statement also revealed plans to allocate more than 1.8 billion STRK tokens across multiple initiatives to drive adoption and growth of the Starknet blockchain. An initial 50 million STRK has been allocated to explore direct, indirect, and retroactive stimulation of activity in DeFi protocols by increasing liquidity, transaction volume on Starknet, and the overall growth of the DeFi environment. This marks an exciting new chapter for the Starknet community, as they eagerly anticipate the upcoming distribution of tokens and the impact it will have on the future of the network.