Airdrops keep coming.
The team behind Starknet, a layer 2 Ethereum extension network, plans to allocate more than 1.8 billion STRK tokens to community members and stakeholders, according to an announcement from the Starknet Foundation on Friday.
The Starknet Foundation did not reveal a timetable for the airdrop, only saying that the first phase of the sweepstakes would begin “soon.”
Approximately 900 million STRK tokens have been allocated to “reward users and community members for their past and future contributions.” The exact criteria and number that will determine which Starknet users will receive those tokens have not yet been announced.
The Starknet Foundation said an additional 900 million STRK will be used for user rebates. Planning for that initiative is still ongoing, but it looks like it will recoup some of the cost of network transaction fees for Starknet users.
In addition to the 1.8 billion tokens, blockchain regulators plan to distribute an additional 50 million STRK tokens to encourage decentralized finance (DeFi) activity on Starknet. According to the Starknet Foundation, these tokens will be distributed directly or indirectly retroactively to Starknet DeFi users.
Members of the Starknet community were quick to celebrate the announcement, hailing it as a major benefit of blockchain.
And they have good reason to feel good. Similar airdrops from other blockchain projects have flooded cryptocurrency users with hundreds of millions of dollars worth of free tokens in recent weeks.
On Thursday, Solana-based DeFi platform Jito held a similar airdrop. $225 million There is value in freshly minted JTO tokens in the hands of users and community members. Late last month, an airdrop to the DeFi oracle network Pyth Donated $77 million Value of PYTH tokens.
Airdrops have become an increasingly popular way for cryptocurrency projects, especially recent DeFi projects, to reach a larger user base and encourage loyalty among existing community members.
Using Starknet Zero-knowledge rollup It has already seen tremendous growth this year in its bid to make on-chain Ethereum transactions faster and cheaper. This spring, the network’s total value was locked (TVL). 10x increase, from $1.45 million to more than $10 million. Since then, Starknet’s TVL has reportedly tripled again, reaching $33.84 million. DeFi Currency.
Editor: Andrew Hayward
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