Ethereum

Unveiling the Enigmatic Starknet Token Distribution: Breaking the Speculation Barrier

The Starknet Foundation Clarifies Distribution Plans for SRTK Ecosystem Token

The Starknet Foundation has moved quickly to address speculation surrounding screenshots of early versions of a distribution portal for its upcoming native SRTK ecosystem token. The foundation is currently in the process of developing plans to distribute the token to specific users, contributors, and investors.

In July 2022, the Ethereum layer 2 scaling network outlined its initial plans for the design of the Starknet token. However, a preview of a potential provisions portal has recently surfaced on social media, leading to confusion among community members.

The Starknet Foundation has emphasized that the screenshots circulating online are draft plans that are still under development. A spokesperson from StarkWare, the company behind Starknet, stated that official criteria and the provision mechanism for STRK tokens will be shared once they have been finalized.

The spokesperson also warned community members about potential scams that may attempt to take advantage of the uncertainty surrounding the STRK token distribution. They clarified that any criteria used to determine eligibility for receiving tokens has already been established and cannot be influenced by current actions or activities.

There have been conflicting reports regarding the eligibility criteria for receiving STRK tokens. Some screenshots suggest that GitHub developers, early Ethereum adopters, stakers, and Starkex users could be eligible, while others contradict these claims. The initial distribution plans shared by StarkWare in 2022 did not mention these criteria.

According to StarkWare’s original post, ten billion STRK tokens have been minted off-chain. However, it is important to note that these tokens do not represent equity in StarkWare, participatory rights, or any claims from the company. The initial token allocation plans stated that 17% would go to StarkWare investors, 32.9% to core contributors, and the remaining 50.1% to the Starknet Foundation.

The foundation has earmarked the majority of the tokens held by it for various distribution instances. It has previously emphasized that priority will be given to developers of core infrastructure, decentralized applications (DApps), and other contributors to the ecosystem’s security.

As the distribution plans for the SRTK ecosystem token continue to be developed, it is important for community members to stay informed and vigilant against potential scams. The Starknet Foundation will provide further updates and official criteria once they are finalized.

Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable

Related posts

The Alarming Rise of Substance Abuse in the World of Crypto Trading

George Rodriguez

Hodler’s Hotlist: The Week in Crypto News – Nov. 12-18

George Rodriguez

Unleashing the Power of Bitcoin: ZetaChain Introduces Sushi Swaps for Native DeFi Testing!

George Rodriguez