Starknet, a long-awaited airdrop, especially by Turkish cryptocurrency users, has ended.
The Starknet Foundation, the organization behind Ethereum layer 2 network Starknet, has announced plans to distribute an impressive 1.8 billion tokens as user rewards and refunds.#stark
The Foundation will employ various groups or “committees” to oversee the overall distribution of these layer 2 blockchain tokens. A special committee, the “Supply Committee,” will be responsible for rewarding users, including community members, with tokens.
The committee will gradually distribute 900 million Starknet (STRK) tokens to reward users and community members for their past and future contributions. The first phase is expected to begin in the first half of 2024.
In addition, 900 million STRK has been allocated for user refunds. Planning for this initiative is still ongoing.
The plan comes after the foundation recently approved a token airdrop snapshot, when draft eligibility criteria for the planned airdrop briefly appeared on its website and circulated on social media.
The foundation released an official statement saying:
Now that the news is out, we can tell you more. Starknet is about each and every one of you. Every current and future user, founder, and member of our community is a critical part of making our network a decentralized future for generations to come. Starknet’s success depends on it.”
The statement also revealed plans to distribute more than 1.8 billion STRK tokens across multiple initiatives to drive adoption and growth of the Starknet blockchain.
An initial allocation of 50 million STRKs was made to explore direct, indirect, and retroactive stimulation of DeFi protocol activity by increasing liquidity, transaction volume, and the overall growth of the DeFi environment on Starknet.
