Starknet announces a partial allocation plan for its own virtual currency STRK and also plans to allocate it to users

Token allocation plan

On the 8th, the Starknet Foundation, which promotes the L2 “Starknet” of the crypto asset (virtual currency) Ethereum (ETH), announced a partial distribution plan for STRK tokens. (*When clicking on a URL, check if it is a phishing site.*)

It is explained that over 1.8 billion STRK will be distributed in multiple ways to promote the spread and development of Starknet. The first stage of allocation will begin “soon.”

Now that the news is out, we might as well tell you more!

Starknet is about each of you. Every user, builder and member of our community – existing and future – is a critical piece to building our network into the future of decentralization for generations to come. The success…

— Starknet Foundation (@StarknetFndn) December 8, 2023

Information has been leaked regarding Starknet, and expectations are high for airdrops (free distribution). This month, it was revealed that the snapshot process for acquiring the rights had already taken place.

connection:Free distribution of Starknet’s original virtual currency (Airdro), snapshots completed

In this announcement, it was explained that 900 million STRK out of over 1.8 billion STRK will be used to refund users. However, the company said its plans have not yet been finalized and that it is currently creating an organization to oversee how users are compensated for transactions.

“We respect and support our community by refunding our users’ transaction fees.” 900 million STRK corresponds to 9% of the total supply.

connection:50 million STRK tokens given to early contributors Starknet

Other allocations

Another 900 million STRK will be allocated to an organization called the “Provisions Committee.” The creation of this organization was announced in advance, and it was explained that it would plan and oversee the supply of STRK tokens.

The announcement simply stated that “900 million STRK will be allocated to the Provisions Committee in order to distribute STRK tokens fairly and transparently across multiple programs and periods.” Details regarding this allocation will be announced soon.

It also stated that it will allocate 50 million STRK to activities in DeFi (decentralized finance) and is exploring specific distribution methods. The company said it is considering ways to allocate it directly or indirectly, or allocate it retrospectively.

Specifically, it will be used to increase liquidity and promote the development of trading and DeFi. He explained that this allocation will be led by an organization called the “DeFi Committee” and is scheduled to move to the implementation stage in the first quarter of 2024 (January to March).

Finally, the Starknet Foundation says it will announce incentives for developers and decentralized apps (dApps) next week. This is all that can be announced at this time, and we ask people to wait for further information.

connection:What is StarkNet? Explaining why it is attracting attention as layer 2 of zk rollup and the development plan

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