STRK Soars to $7 Following Massive Airdrop
20 Feb, 2024 ● Coin news
The Ethereum layer-2 scaling solution Starknet initiated the distribution of its native network token on February 20, with millions of tokens claimed through the launch of the provision portal.
Real-time data tracking the claims indicated that eligible users had acquired over 45 million STRK tokens within the initial 90 minutes of the allocation. Additionally, the token commenced trading on several major exchanges.
Following its listing on Binance, STRK traded at a price exceeding $7, while it surpassed $5 on KuCoin as the tokens integrated into the broader cryptocurrency landscape.
According to CoinMarketCap data, STRK was trading within the range of $3 to $4, with its market capitalization exceeding $2.1 billion.
More than 1.3 million wallets, including those of Ethereum solo and liquid stakers, Starknet developers and users, as well as projects and developers from outside the Web3 ecosystem, are eligible to claim Starknet's native token.
The Starknet Foundation has released details of its token distribution alongside the launch of a dedicated portal for users to verify their eligibility and acquire STRK tokens.
A total of over 700 million STRK tokens are slated for allocation across nine categories and are designated for governance and transaction fees. Starknet intends to introduce staking for STRK tokens in the future.
Starknet, one of Ethereum's prominent layer-2 solutions, has been at the forefront of zero-knowledge (ZK) rollup technology, enabling transactions and smart contract functions to be processed off-chain, with cryptographic proofs submitted to Ethereum to leverage the security assurances of its underlying blockchain.
The protocol has responded to concerns from both Starknet and Ethereum community members regarding the eligibility criteria for the STRK airdrop.
In response to feedback, the Starknet Foundation is addressing the needs of users who felt excluded due to specific provisions criteria.
Additionally, the broader cryptocurrency community has been cautioned to remain vigilant against scams and malicious links.
Sources:
https://cointelegraph.com/news/starknet-7-binance-millions-tokens-claimed
