Starknet Adjusts Airdrop Schedule, Addresses Technical Issues for Eligible Users

The Ethereum layer-2 blockchain Starknet is making changes to its token unlock schedule, including eligible Immutable X users and pooled Ether stakers in its next airdrop round scheduled for next month.

The Starknet Foundation, which supports the Starknet network, has faced criticism over some pre-Merge ETH stakers and Immutable X users eligible for February's Starknet (STRK) airdrop but encountered technical difficulties in receiving their tokens.

The foundation has stated that the issues have been resolved, and eligible users can start claiming their STRK in April, according to a note shared with Cointelegraph.

Starknet explained that a list provided by Immutable inaccurately classified many Immutable X users as VeVe users, a nonfungible token (NFT) platform. The list was intended to distinguish between the two groups, with VeVe holding its users' private keys. Starknet airdropped the token through the NFT platform to eligible VeVe users, as they would not have had the necessary information for the claims process.

With the list now corrected, Immutable X users who completed eight or more transactions before June 1, 2022, can claim their airdrop.

Starknet is still in discussions with the VeVe team regarding airdrops for VeVe users.

There were also issues for pooled ETH stakers, as staking protocols were unable to airdrop STRK to eligible users. Starknet identified several causes for this issue and has received lists of eligible users from some staking protocols, allowing them to claim their airdrop starting in April.

This updated schedule is another change by Starknet, which adjusted its unlock schedule in February to prevent investors from dumping their holdings on retail users. The original plan was revised to include smaller and spaced-out STRK distributions over three years instead of a larger drop scheduled for April.

The STRK airdrop faced criticism from Starknet users who claimed they were ineligible despite making significant transactions. Eligibility criteria required users to hold at least 0.005 ETH, worth about $10, at the time of a snapshot on Nov. 15, 2023.

Following the Feb. 20 airdrop, large STRK holders sold tokens worth millions, causing the price to drop 60% from its peak of $4.40 to $1.90 in just over two days. The price of STRK has since struggled to recover and is currently trading at $1.88, according to CoinGecko data.