Starknet\u2019s long-awaited STRK token is set to launch next week.<\/p>\n
The Starknet Foundation, a non-profit that supports the Starknet ecosystem, will airdrop over 700M STRK tokens to 1.3M blockchain addresses on Feb. 20.<\/p>\n
\u201cThis kicks off a new phase in making Starknet more decentralized and showing convincingly that the scaling trilemma can truly be solved \u2013 scalability, security and decentralization,\u201d said Eli Ben-Sasson<\/a>, StarkWare\u2019s co-founder and CEO.<\/p>\n More than half of the allocated tokens will go to past users of Starknet, an Ethereum Layer 2 that leverages zero-knowledge technology and currently has $180M<\/a> in total value locked (TVL).<\/p>\n <\/p>\n Other eligible recipients include users of applications like dYdX, ImmutableX, Rhinofi, and Sorare \u2014 all of which used StarkEx, an early iteration of StarkWare\u2019s scaling technologies.<\/p>\n Notably, ETH stakers are due to receive nearly a quarter of the tokens in what may be the first major airdrop for users securing the Ethereum network. According to a release shared with The Defiant, both solo stakers and users of liquid staking tokens (LSTs) prior to The Merge will be eligible to claim STRK.<\/p>\n The airdrop<\/a> stands out in terms of its eligible recipients \u2014 these include non-blockchain developers who have contributed to open-source projects.<\/p>\n Diego Oliva<\/a>, CEO of the Starknet Foundation, said that developers outside of crypto should also have a stake in the space\u2019s future.<\/p>\n \u201cThis technology is new and potentially impactful for applications across industries, and many leaders in related technological spaces deserve to have a stake in what\u2019s to come,\u201d he said in a prepared statement.<\/p>\n StarkWare, the primary company behind Starknet, is one of the most well-funded projects in crypto, which makes the airdrop one of the most highly anticipated.<\/p>\n Starkware first raised a $6M seed round over five years ago and has since raised over a quarter of a billion dollars in four subsequent funding rounds, according to CB Insights<\/a>. The most recent round, a $100M Series D<\/a> at an impressive $8B valuation, was completed in May 2022.<\/p>\n StarkWare launched<\/a> Starknet\u2019s alpha mainnet in November 2021. It has gone through many iterations since, culminating in spikes of activity like last September, when the anticipation of the airdrop reached a peak<\/a> and throughput nearly surpassed that of Ethereum\u2019s mainnet.<\/p>\n <\/p>\n <\/a><\/p>\nVC Funding<\/h2>\n
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