Starknet's STRK will debut with a market capitalization of over $1 billion – airdrop scheduled for February 20th | CoinDesk JAPAN

• Layer 2 scaling solution Starknet plans to airdrop approximately 700 million native tokens, STRK, on ​​February 20th.
• Pre-launch futures on decentralized exchange Aevo suggest a starting price of $1.65, with a market cap likely to start at $1.2 billion.

Starknet, a layer-2 scaling solution focused on improving the performance of decentralized applications on Ethereum, airdropped, or distributed 728 million tokens for free, to approximately 1.3 million wallets on February 20th. and plans to debut its native token STRK.

The much-anticipated token could debut with a market cap of over $1 billion, according to price discovery in pre-launch futures listed on decentralized cryptocurrency exchange Aevo.

At the time of writing, pre-launch perpetual futures on STRK/USD are trading at $1.65, suggesting a market capitalization of $1.2 billion (approximately 180 billion yen, at an exchange rate of 1 dollar = 150 yen). This number is calculated by multiplying the number of coins in circulation (728 million) by the market price ($1.65).

The upcoming airdrop of 728 million tokens represents almost 7% of the total supply. In other words, a pre-listing price of $1.65 means a fully diluted market capitalization (FDV) of over $16 billion (approximately 2.4 trillion yen). FDV is the predicted market capitalization of a project after all its tokens are in circulation.

Aevo co-founder and CEO Julian Koh told CoinDesk: “The market seems to be very excited about Starknet, the most popular ZK chain. ” he said.

Aevo listed STRK/USD pre-launch futures in the early hours of February 14th. The exchange announced a pre-listing perpetual futures market last August, allowing traders to speculate on a token's ideal starting price.

These pre-listed perpetual futures are similar to IOU (I owe you) futures offered by some exchanges. An IOU is a token issued by a debtor to a creditor. Once a token is published, the pre-listing perpetual price will reference the STRK price and will collect a funding rate from traders to synchronize the perpetual price with the token's spot price.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
| Image: Starkware co-founder and president Eli Ben Sasson (left) and CEO Uri Kolodny. (StarkWare)
｜Original text: Starknet's STRK Could Debut With Market Cap of Over $1B, Aevo's Pre-Launch Futures Suggest