The wait is over for Starknet enthusiasts! The network’s native token, STRK, is set to begin trading on major exchanges today, marking a significant milestone in its journey towards decentralization. However, the launch is accompanied by a hefty airdrop, pre-launch pricing speculation, and controversy surrounding token allocations, creating a mix of excitement and concerns.
Airdrop Bonanza and Early Access:
Nearly 1.3 million wallets are eligible to claim a portion of the 728 million STRK tokens being airdropped, representing 7.28% of the total supply. This includes early users, contributors, and developers who interacted with the network before a November snapshot. These tokens will be fully liquid upon claim, allowing immediate trading on exchanges like Binance, Bybit, Bitfinex, and OKX once liquidity requirements are met.
Related: Starknet’s Big Airdrop: 700M+ STRK Tokens to 1.3 Million Addresses This February!
The STRK token aims to empower the community by enabling governance and participation in the network’s growth. However, a significant chunk (13.1%) is allocated to core contributors and investors, with a planned unlock event just two months after launch. This rapid unlocking schedule has drawn criticism, with some alleging it favors insiders and could negatively impact the token’s price.
Pre-Launch Speculation and Controversy:
Despite the official launch happening today, pre-launch pricing on decentralized derivatives exchanges like Aevo already suggests a potential market cap of $20.9 billion. While this indicates high anticipation, concerns over the token distribution plan and potential market manipulation persist.
Starkware Defends Its Approach:
The Starknet Foundation asserts that the airdrop rewards early supporters and the extended lock-up period for investor tokens ensures responsible distribution. They maintain that the current plan fosters long-term network sustainability.
Looking Ahead:
The STRK token launch comes at a pivotal time for Starknet, aiming to solidify its position as a leading Layer-2 scaling solution for Ethereum. While initial excitement prevails, addressing community concerns and ensuring transparency in token distribution will be crucial for building long-term trust and sustainable growth.
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