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With the goal of empowering its community, the Starknet Foundation has revealed its STRK token distribution plan. An important step toward decentralization within the Starknet ecosystem has been made with this project. Starknet uses ZK-Rollup technology to function as an Ethereum Layer-2 network. Decentralized apps (dApps) on the Ethereum blockchain can scale well thanks to this creative method.
Starknet solves scalability issues by using ZK-Rollup, allowing for more efficient and economical transactions. Starknet's main function is to make decentralized apps more scalable. By improving the usability and performance of dApps with its Layer-2 solution, Starknet gives consumers a smooth and seamless Ethereum network interaction. For decentralized apps to be widely adopted and successful across a range of industries and use cases, this scalability is essential.
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The STARK Token Distribution Plan for the Starknet Foundation is Unveiled
The Starknet Foundation's distribution strategy for the STRK token rollout is about to get underway, and incentives are about to be distributed to roughly 1.3 million wallets that qualify. Participants in this distribution endeavor have four months from February 20 to June 20 to claim their STRK tokens. Approximately 700 million STRK tokens, or 7% of the 10 billion token supply overall, will be distributed in total. The foundation's dedication to community governance and decentralization within the Starknet ecosystem is emphasized by this allocation.
A wide range of community members, including early Starknet users, Ethereum contributors, and open-source developers, are eligible to claim STRK tokens. Interestingly, these teams have been crucial to the development and testing of Stark-based technologies. More than 500,000 Starknet users and 600,000 StarkEx users are qualified to get STRK tokens, according to a thorough analysis.
Furthermore, 19,000 ETH holders and 137,000 open-source developers have satisfied the requirements to take part. The eligibility requirements, which included more than six transactions and a minimum of $100 in cumulative value transacted, were established based on transaction volume and frequency of network connection.
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Local Projects Promote Development in the Starknet Ecosystem
Apart from the idea for distributing STRK tokens, the Starknet Foundation has led other community programs to enhance involvement and decentralization in the ecosystem. Among these are the devonomics program, which was introduced in December, and future projects like refunds and subsidies to encourage ecosystem participation.
The Starknet ecosystem depends heavily on community input, demonstrating how crucial participation is to promoting decentralization and growth. Starknet keeps developing and growing thanks to the cooperation of users, developers, and contributors, guaranteeing a robust and lively network for decentralized apps.