Starknet Unveils Airdrop Plans for 1.3 Million Ethereum Wallets

TL;DR
1.Starknet's STRK token: Vital for governance and market value.
2.Massive STRK token airdrop: 700 million for Ethereum users.
3.Token allocation dynamics: Starknet rewards early adopters and Ethereum ecosystem contributors.
4.Ethereum stakers poised for STRK rewards: Up to 3,600 tokens per validator.
5.Starknet's explosive growth fueled by upcoming airdrop: TVL skyrockets.

Starknet, an Ethereum layer-2 scaling solution, has disclosed details regarding its highly anticipated token airdrop, scheduled to commence on February 20. Nearly 1.3 million Ethereum wallets qualify for the airdrop, dubbed a "provisions program" by the Starknet Foundation.

Aiming for Decentralization

Starknet emphasizes the importance of its new native token, STRK, not just for its potential value on secondary markets but also for its role in establishing a new governance structure. With STRK tokens representing voting power, the initiative aims to foster a decentralized network, according to StarkWare co-founder and CEO Eli Ben-Sasson.

Token Distribution

Over 700 million STRK tokens will be distributed to Ethereum users in the initial phase of the airdrop, lasting from February 20 to June 20. Ultimately, the plan is to distribute a total of 1.8 billion STRK tokens to users and community members.

Varied Eligibility Criteria

The allocation of tokens varies based on users' interactions with Starknet. Contributors prior to November 15 could receive between 500 and 180,000 STRK, with the highest allocations reserved for early community members.

Additionally, users of dapps powered by StarkEx, such as dYdX and Immutable X, are eligible for 111.1 STRK if they engaged with these apps before June 1, 2022. Ethereum developers, contributors, and stakers are also eligible, regardless of previous Starknet involvement.

Staking Rewards

Ethereum stakers stand to gain rewards based on their participation. Validators who started before Ethereum's merge in 2022 can claim up to 1,800 STRK per validator, while those staking prior to the Beacon Chain launch in December 2020 can receive 3,600 STRK per validator.

Community Impact

The announcement follows Starknet's substantial growth, with total value locked (TVL) surging from under $1 million to over $56 million since the beginning of 2023. The upcoming airdrop has further propelled interest, with TVL increasing by 75% since December.

Conclusion：Starknet Airdrop Details

Starknet, Ethereum's layer-2 scaling solution, unveils details about its upcoming token airdrop starting February 20. Nearly 1.3 million Ethereum wallets qualify for the "provisions program," distributing 700 million STRK tokens initially, aiming to foster decentralization and governance. Token allocation varies based on user interactions, including early contributors and dapp users. Ethereum stakers can also earn rewards, with substantial growth in Starknet's ecosystem and increased interest preceding the airdrop.