Summary
Starknet, the blockchain developed by StarkWare, is set to distribute its native token, STRK, beginning on February 20. The distribution is said to be the “broadest distribution of its kind” and will reach almost 1.3 million eligible wallets. The token will be given to solo stakers, Ethereum developers, and non-Web3 open source software developers based on their GitHub contributions. The goal is to promote inclusivity and ensure that leaders in related technological spaces have a stake in the project. STRK holders will have voting rights on protocol changes and can pay network fees in STRK. The token is also expected to play a role in the security of Starknet through staking. The distribution is referred to as “provisions” and eligible criteria have been outlined by the Starknet Foundation. A diverse set of users, contributors, and developers will be able to receive a portion of the 900 million STRK tokens available. The largest allocation is for early community members, with some receiving up to 180,000 tokens. The dollar value of the tokens is not yet available. The criteria for token eligibility were designed to prevent Sybil attacks. The distribution will be followed by further token distributions in the future.
Key Points
1. The native token of Starknet, called STRK, will be distributed to almost 1.3 million eligible wallets beginning on February 20. This distribution is being hailed as the “broadest distribution of its kind” to date.
2. Solo stakers on Ethereum running up to 12 validators will receive a significant windfall, with thousands of tokens allocated per validator. Additionally, STRK tokens will be given to Ethereum developers and non-Web3 open source software developers based on their GitHub contributions.
3. The STRK token carries utility within the network beyond its role in governance. STRK holders will be able to vote on major changes to the protocol and can also pay network fees in STRK instead of ether. The token is expected to play a role in the security of Starknet through staking, similar to how ether functions on the Ethereum mainnet.