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Recognizing Pioneers – Starknet Token Allocation

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Cryptocurrencies News – In a move to honor its early supporters, the Starknet Foundation has earmarked 50 million STRK tokens for those who played a pivotal role in the network’s early days. These tokens are not yet available for trading and are set to be unlocked in April 2024.

Streknet Token Building on Ethereum

Starknet token operates as a secondary layer to the Ethereum blockchain, focusing on improving transaction speed and reducing costs while ensuring robust security. The Starknet Foundation, which came into existence in November 2022, oversees the network’s expansion and sustainability. Initially, StarkWare, the developer behind Starknet, created 10 billion starkent tokens to support this mission.

Early Community Member Program

The Starknet Foundation has introduced the Early Community Member Program (ECMP) to compensate those who have been instrumental in nurturing the ecosystem. This includes individuals who have:

  • Actively engaged in technical discussions within the community.
  • Been acknowledged by prominent projects in the ecosystem.
  • Hosted various global events like meetups and workshops.
  • Consistently produced content related to Starknet.

The Foundation, holding a majority of 50.1% of the STRK tokens, plans to use a portion of these to incentivize community growth and engagement. Contributors and investors were allocated 32.9% and 17% of the tokens, respectively. The ECMP is a strategic step to bolster the community’s involvement as Starknet continues to evolve.

  • 31 October 2023
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