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    <p><a rel="noopener noreferrer nofollow" title="Starknet" href="https://thebittimes.com/tag/starknet.html">Starknet</a>, an <a rel="noopener noreferrer nofollow" title="Ethereum" href="https://thebittimes.com/tag/ethereum.html">Ethereum</a>-based layer-2 originally developed by StarkWare, recently started its ‘Provisions’ <a rel="noopener noreferrer nofollow" title="Airdrop" href="https://thebittimes.com/tag/airdrop.html">Airdrop</a> process. <a rel="noopener noreferrer nofollow" title="Starknet" href="https://thebittimes.com/tag/starknet.html">Starknet</a> is transitioning away from using ether to pay transaction fees, instead switching to the new STRK token which is also intended to be used for governance and staking on <a rel="noopener noreferrer nofollow" title="Starknet" href="https://thebittimes.com/tag/starknet.html">Starknet</a>.&nbsp;</p>
    <p>The <a rel="noopener noreferrer nofollow" title="Starknet" href="https://thebittimes.com/tag/starknet.html">Starknet</a> documentation breaks down the approximate intended distribution of tokens as follows:&nbsp;</p>
    <ul>
     <li>20% to early contributors</li>
     <li>18% to investors</li>
     <li>11% to StarkWare</li>
     <li>13% to grants</li>
     <li>9% each for community provisions and community rebates</li>
     <li>10% to Foundation Strategic Reserves</li>
    </ul>
    <p>While this is the intended distribution of the total 10 billion tokens, the first distribution round was 728 million. The Medium post announcing this claimed that the Starknet Foundation “has allocated a total of 1.8 billion STRK to distribute to the community.” This <strong>18% of the total is likely made up of the community provisions and community rebates categories</strong>.</p>
    <p>The <a rel="noopener noreferrer nofollow" title="Airdrop" href="https://thebittimes.com/tag/airdrop.html">Airdrop</a> of tokens had this approximate expected distribution:</p>
    <ul>
     <li>51% to Starknet users</li>
     <li>9% to Starknet ECMP members</li>
     <li>2% to Starknet developers</li>
     <li>10% to StarkEx users</li>
     <li>0.2% to Ethereum Protocol Guild members</li>
     <li>3% to Ethereum developers</li>
     <li>0.2% to EIP authors</li>
     <li>22% to ethereum stakers</li>
     <li>2% to open-source developers</li>
    </ul>
    <h2 class="wp-block-heading" id="h-starknet-counted-one-address-twice">Starknet counted one address twice</h2>
    <p>This airdrop wasn’t without criticism, with Starknet taking to X (formerly Twitter) to explain that at least one address was accounted for twice and will need to be corrected.&nbsp;</p>
    <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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      <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
       <p lang="en" dir="ltr">Hello, <br>This is a tier 1 ECMP recipient whose address was accounted for twice. <br>We contacted the recipient to clarify this was an error, and the amount will be corrected to 180K STRK. pic.twitter.com/6RN35oAJwr</p>— Starknet (@Starknet) February 14, 2024
      </blockquote>
     </div>
    </figure>
    <p><em>Read more: Jupiter’s massive insider allocation of Solana airdrop JUP</em></p>
    <p>Others have taken to X to highlight how the current documentation suggests that investors and early contributors — the two largest categories of token holders — will have many of their tokens unlocked on April 15.&nbsp;</p>
    <p>X user Odin Free, who works in Ecosystem at Starkware, said, “We hear all of your feedback about our round 1.”&nbsp;</p>
    <p>Starknet has been slow to see adoption, with DeFillama reporting that it has a Total Value Locked (TVL) of <strong>only $57 million</strong>, which lags far behind the nearly $3 billion TVL on Arbitrum and the $860 million on Optimism.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-twitter-upset-by-starknet-strk-airdrop-tbt79843.html">https://thebittimes.com/crypto-twitter-upset-by-starknet-strk-airdrop-tbt79843.html</a></p>

Crypto Twitter upset by Starknet STRK airdrop

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TheBitTimes

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