Starknet airdrop is live, here are the details of STRK token distribution

Author: BlockBeats

The long-awaited Starknet airdrop has finally arrived.

The native token of Starknet, STRK, will begin distribution on February 20 through the Starknet Foundation Provisions program (Starknet Airdrop Program). The first round of token allocation will have approximately 1.3 million wallets eligible to receive STRK tokens, with the claiming period lasting four months until June 20.

It is reported that this STRK airdrop is the broadest personal token distribution to date, and Starknet is the first L2 project to distribute tokens to independent Ethereum stakers, Ethereum LSD holders, and non-Web3 developers. Today, the Starknet Foundation will release the official Provision allocation summary and provide users with a query entry to check their allocation eligibility.

STRK Airdrop Allocation Details

This round of the Starknet Provision program is led by the Starknet Foundation, which is headed by CEO Diego Oliva, based in London, focusing on research, development, and growth of Starknet and its supporting technologies. The work of SNF aims to promote the widespread adoption of Starknet, encourage community participation, and support project governance. SNF states that all efforts of Starknet are aimed at expanding Ethereum's capabilities to meet the daily usage at a global scale while adhering to the core values of decentralization.

SNF CEO Diego Oliva stated, "The birth of the STRK token is to enable scaling based on STARK to be conducted in a more decentralized manner. The token design helps Starknet to be operated and managed by the community, and the airdrop is a powerful means to achieve this goal. Of course, decentralization is a process that takes time and is completed gradually; this step is very important." Olivia added, "The airdrop is a tribute to the hard work of community members, showcasing why and how we are expanding Ethereum's performance for large-scale adoption. In line with the traditional concept of decentralization, this token distribution allows the community to shape the future of Starknet."

Additionally, StarkWare CEO Ben-Sasson stated, "The Provision program marks a new phase of greater decentralization for Starknet, sparking curiosity about Starknet, promoting learning and usage of Cairo, and significantly increasing community size. More and more developers are adopting Cairo, recognizing that the new era of scalability requires a new language to achieve it."

Airdrop Distribution and Eligibility

SNF refers to the token distribution plan as "Provisions" rather than "Airdrop," with the primary targets of this distribution being Starknet supporters, Ethereum ecosystem supporters, and non-Web3 developers.

StarkWare CEO Ben-Sasson stated that Starknet is committed to scaling Ethereum, and the primary task of this distribution is to pass economic incentives to those driving this goal. "Those building projects on Starknet and those actively participating and encouraging more people to join will receive a substantial token allocation. After all, it is they who drive this virtuous cycle, making the Starknet community stronger."

1. Starknet Ecosystem Supporters and Users:

a) Developers and users will automatically qualify based on retrospective activities;

b) Starknet community members;** Early participants who have recorded their activities (coding, organizing events, etc.) have the opportunity to apply for the Early Community Member Program. As part of the Early Community Member Program (ECMP), over 2,000 people can receive Provisions. Those ranking highest in the allocation criteria will receive a substantial allocation of 180,000 tokens.

c) Popular dApp users;** Since the launch of StarkEx in 2020, community members have been testing STARK-based technology, so many who interact with dApps supported by StarkEx, such as dYdX, ImmutableX, as well as Rhinofi and Sorare, will be eligible for token allocation.

2. Ethereum Builders and Stakers:

a) Ethereum builders;** Starknet is secured by Ethereum, and many Ethereum contributors are also eligible, including Protocol Guild members, EIP authors, and numerous developers.

b) Ethereum network security maintainers;** Ethereum stakers, including individual stakers who participated before and after the Beacon Chain genesis, as well as many users holding liquid staking tokens, can also receive Provisions.

3. Non-Web 3 Open Source Developers: Based on GitHub project contributions, SNF has also reserved Provisions for many open-source developers outside the blockchain space. According to SNF, this move aims to set a new precedent in inclusivity.

In this airdrop, Starknet users will receive 51.33% of the token share, ETH stakers will receive 21.99%, and StarkEx users and Starknet ECMP members will receive 9.62% and 9.05% of the token share, respectively. Detailed allocation percentages are shown in the image below:

As the Starknet users with the largest token allocation, the number of STRK tokens received by a single address will range from 500 to 10,000. The basic conditions for obtaining airdrop eligibility include:

1. Having used the Starknet network for at least 3 independent months;

2. Having conducted at least 6 transactions;

3. The total transaction amount is not less than $100;

4. The address must hold at least 0.005 ETH at the time of the snapshot (November 15, 2023).

Additionally, the specific allocation for each address will also be adjusted according to a scoring system based on the user's duration of use, total transaction amount, and total number of interacting contracts, increasing in increments of 7 points. Among them:

1. Meeting any one of the following can earn an additional 1 point: Using Starknet for 7 to 10 independent months / Total transaction amount reaching $7,000 to $35,000 / Interacting with 20 to 39 contracts.

2. Meeting any one of the following can earn an additional 2 points: Using Starknet for over 11 independent months / Total transaction amount exceeding $35,000 / Interacting with over 40 contracts.

Specific token allocations and scoring rules are shown in the images below:

Starknet Token Economics

Starknet disclosed its token economics in mid-2022, with a maximum total supply of 10 billion STRK tokens, of which:

· 17% allocated to StarkWare investors; 32.9% allocated to core contributors, including StarkWare and its employees and advisors, as well as Starknet software development partners;

· 50.1% granted by StarkWare for foundation distribution, of which 9% is for community allocation (Community Provisions), applicable to those working for Starknet and supporting or developing its underlying technology;

· 9% used for community rebates (to partially pay for costs of joining Starknet from Ethereum); 12% used to fund research and work for the development, testing, deployment, and maintenance of the Starknet protocol;

· 10% used as strategic reserves to fund ecosystem activities aligned with the foundation's mission;

· 2% decided by Starknet token holders and the foundation, donated to reputable institutions and organizations, such as universities, NGOs, etc.;

· 8.1% unallocated, further supporting the Starknet community as decided by the community.

All tokens allocated to core contributors and investors will be subject to a 4-year lock-up period (with a one-year complete lock-up followed by linear release).

Airdrop Distribution and Claiming Notes

It is important to note that users claiming the airdrop need to use their own Starknet wallet to receive Provisions tokens. Users can create and update their wallets through Braavos or Argent. It is reported that SNF will exclude wallet addresses attempting to obtain token allocations from this Provisions program as much as possible.

The Provisions program is just one of several important initiatives supporting the Starknet ecosystem, with other noteworthy programs including the Devonomics program launched last December and upcoming initiatives such as rebates and subsidies. For users who do not meet the conditions for this airdrop, they can continue to participate and qualify for future Provisions program airdrops.

Additionally, as the crypto market heats up, phishing and other hacking incidents have become more frequent. Users should be cautious not to click on links outside of the official Starknet website or Twitter to avoid financial losses.