StarkWare has announced that it will begin distributing its highly anticipated STRK tokens to qualified community members on February 20, 2024.
In a February 14 release, the protocol’s development team revealed that it will distribute its new token to over 1.3 million eligible wallets.
The team further mentioned that the STRK token will be distributed to both Ethereum developers as well as non-Web3 open-source software developers as a gesture of recognition for their contributions towards the development of the protocol.
Recipients of the STRK token will have access to the StarkNet blockchain and will be able to vote on important decisions related to the protocol’s development. This gives them a real stake in the network’s future. The token will serve as a crucial element in the network’s security, similar to the role of ether on the Ethereum mainnet.
The StarkNet community members are encouraged to visit a specialized portal to check their eligibility and learn how to claim the tokens. A Starknet wallet will be required to claim STRK through this portal, and the users were advised to ensure that they have the latest version of the wallet installed and their account is up to date if they already have a Starknet wallet.
According to Diego Oliva, CEO of the Starknet Foundation (SNF), the upcoming distribution is designed to set a new standard for inclusivity within the digital asset space. Oliva believes this will be a major step forward for the industry, and the token distribution will be a game-changer for all involved.
In terms of performance, Starknet’s transaction fees, as per L2Fees data, are around ten times lower than those on Ethereum. Despite this cost advantage, Starknet has achieved substantial growth, reaching a total value locked (TVL) of $56 million, marking a new peak for the network.
The Starknet Provisions Program is designed for a broad distribution of STRK to those who’ve substantially contributed to Starknet.
Here are a few relevant details:
✨1.3 million addresses.
✨50% of the token distributed to Starknet users.
✨Ethereum stakers until the Merge,… pic.twitter.com/mANrSYHeG9
— Starknet 🦇🔊 (@Starknet) February 14, 2024
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