Starknet issued a notice yesterday (19th), reminding users that they can claim the airdrop on the official website after 8 p.m. Taiwan time tonight. In addition, they stated that necessary adjustments have been made to the distribution of $STRK after listening to the community’s opinions, including the revised airdrop amounts for some users.
(Background: Starknet Airdrop Storm》Community Questions 70% Pre-determined Wallets, Institutions Unlocking $STRK Quickly…CEO Defends: We Are Different)
(Essential Background: Starknet Airdrop is Here! Nearly 1.3 Million Addresses Qualify, Details of STRK Token Distribution)
On the 14th, Ethereum Layer2 Starknet announced an airdrop, distributing over 700 million $STRK tokens to a total of 1.3 million addresses. It was originally expected to be an airdrop that benefits everyone, but it has triggered many criticisms within the community, such as dissatisfaction with the airdrop criteria (which require wallets to hold at least 0.005 ETH), 900,000 qualified wallets being owned by Starknet team and its affiliated investment institutions, and the unlocking of 13.1% of the total supply of $STRK in less than two months.
Updated $STRK Distribution
Yesterday evening (19th), the team issued a post reminding users of the time to claim the airdrop and stated that necessary adjustments have been made to the distribution of $STRK after listening to the community’s opinions. Firstly, the team stated that eligible users can claim the airdrop on the official website after 8 p.m. Taiwan time tonight. The claiming period will last for four months until June 20th.
Regarding the modifications to $STRK distribution, the team listed the following points:
– Approximately 900 Ethereum individual validators who own multiple validators were previously miscalculated as one entity. They will now receive a total of approximately 6.5 million $STRK.
– Over 1,000 Ethereum independent validators who were previously misclassified will receive over 6.9 million $STRK.
– Approximately 1,900 GitHub accounts that obtained eligibility for the airdrop through improper means will be excluded. With this modification, over 1 million $STRK will be retained and may be distributed to the community in the future.
– A problem on StarkEx has been resolved, which previously allowed custodial companies to claim the airdrop using the keys of approximately 200,000 users. Starknet will provide specific procedures for these users to receive the airdrop in the future.
The team also stated that the primary task after the airdrop distribution will be to address the issue of active users who were excluded due to the current airdrop criteria. To understand the current airdrop criteria, please refer to “Starknet Airdrop is Here! Nearly 1.3 Million Addresses Qualify, Details of STRK Token Distribution”.
Starknet’s Active Address Count Drops by 86%
It is worth mentioning that after Starknet announced the airdrop, the number of active addresses on its network surged. According to data from the Starknet blockchain explorer, on the 14th, the number of active addresses on Starknet reached 226,576, an 80% growth compared to the past three months. However, as of today after the airdrop was launched, the number of active addresses on Starknet has dropped to 17,911. This number is significantly lower than the average of over 100,000 active users maintained from August to December 2023. Although the decrease in active addresses is not entirely without benefits, this decline may be partially due to the departure of users seeking airdrops (who are often considered parasitic users in the crypto community). Their departure may purify the ecosystem and attract more focused and genuine users, paving the way for a more sustainable and engaged community. However, this drastic decrease also indicates the severity of dissatisfaction within the Starknet community. The Starknet Foundation announced on the 19th that it will launch an ecosystem incentive program on the 22nd, distributing 40 million $STRK tokens to DeFi protocols. It is worth paying attention to whether this can save a large number of lost users.
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