Starknet airdrop is here, learn about STRK distribution details and valuation expectations in one article

Starknet announced that it will launch the first round of token distribution. The distribution of token STRK will begin at 20:00 on February 20 (UTC 8). The distribution will take place through the Starknet Foundation’s Provisions program, the token airdrop program. At that time, the application interface will be opened to users, allowing users to participate in the acquisition of tokens.

In the first round of token distribution, approximately 1.3 million addresses were eligible to receive it, and a total of 700 million tokens were issued (the community’s share of the total supply was 1.8 billion). The collection period lasts for four months and the deadline is June 20.

Who can receive it?

Starknet has set some basic requirements for its users, such as interaction amount, activity, and fund retention. Only accounts that meet these requirements are eligible to receive different amounts of airdrops. In addition, Starknet also cooperates with Trusta Labs to ensure the eligibility of community users for air investment through Witch address screening. Overall, community users need to follow some basic rules to participate in the airdrop.

Basic qualifications for airdrops

• Have used Starknet for at least 3 independent months;

• Have conducted at least 6 transactions Transaction;

• The total transaction amount is not less than $100;

• The address held at least 0.005 ETH.

It should be noted that when taking a snapshot, only the funds stored in the DEX's LP and lending protocols will be included in the scope of the snapshot, and only the ETH balance will be considered. Other funds such as USDT will not be counted. Therefore, many interaction addresses are excluded.

Trusta Labs, the partner of this witch cooperation, is a partner of many large-scale airdrop projects. They have rich experience in anti-witches. According to feedback from the community, there are a certain number of users who have all their accounts marked as witches, resulting in the inability to receive any airdrop rewards. This situation may have significant consequences for users involved in large airdrops.

Specific targets for airdrops

The Starknet Foundation will issue airdrops to various users who help promote the development of Starknet, including Starknet users and builders, Ethereum contributors and pledgers, as well as those of specific projects. Developers can participate in the Provisions program.

• Starknet users: meet the basic qualifications for airdrops in the previous section and have not been identified as witch addresses.

• StarkEx users: Used StarkEx-based DApps at least eight times before June 1, 2022. (e.g. dYdX, Rhino, IMX, etc.)

• Starknet Community: Eligible participant of the Early Community Membership Program (ECMP).

• Starknet developers (before November 15, 2023), Ethereum developers (before November 15, 2023), EIP authors (before November 15, 2023), Github developers Users who have made designated development contributions (before November 15, 2023).

• Ethereum stakers: stakers before September 15, 2022.

• Ethereum Protocol Association: Listed as a member of the Ethereum Protocol Association on November 15, 2023.

In this airdrop, Starknet users will receive 51.33% of the token share, ETH pledgers will receive 21.99%, StarkEx users and Starknet ECMP members will receive 9.62% and 9.05% respectively. of token shares, and the remaining distribution details are as follows:

Price estimate

OTC trading platform Aevo price data shows that the current OTC price of STRK is approximately Between 1.7 USDT and 1.8 USDT. Based on the initial circulation of 700 million coins, the initial circulation market value is approximately US$1.2 billion, ranking fourth in L2, while FDV is close to Arbitrum. The picture below shows a comparison of L2 market capitalization data produced by Odaily half a month ago. It has changed according to recent token fluctuations and can be used as a reference for the relative position.

Usage of Tokens

Starknet explained the use cases of STRK tokens in the airdrop document, and there are no major changes from the previously disclosed content.

• Pay network fees: After Provisions begin, users will be able to pay transaction fees using STRK. Starknet emphasized that while users can pay fees using STRK, the Starknet protocol will still use ETH to pay fees on Ethereum to ensure the security of the network and its data.

• Governance: After Provisions, recipients of STRK will be able to participate in ecological development governance.

• Staking: STRK will be used for PoS model staking, and users can pledge tokens to the decentralized sequencer to ensure the decentralized operation of Starknet.

Conclusion

Starknet has a large number of airdrop addresses this time, and the airdrop threshold is low. Most accounts have a minimum guarantee of 500 coins. This is a good idea for users who can effectively prevent witches. The wealth effect is obvious. With the popularity of the points system, airdrop opportunities that are not based on the amount of funds may become increasingly rare. In addition, the launch of Arbitrum tokens in 2023 triggered the trend of airdropping project tokens to Arbitrum air investment accounts. As a publicity method that can be widely disseminated, the initial benefit effect is obvious, and it may be the focus of subsequent attention.

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