Layer 2 solution Starknet opened the query for airdrop eligibility on the 15th. However, this airdrop has sparked anger among many in the community. KOL @YourAirdropETH believes that out of the 1.3 million wallet addresses, the team has pre-allocated 900,000 addresses and institutions have unlocked too quickly.
(Previous summary:
Starknet airdrop is here! Nearly 1.3 million addresses qualify, details of STRK token distribution are listed.
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(Background information:
Starknet airdrop is coming, which ecosystem projects are the hidden treasures for the next round of distribution?
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The highly anticipated Ethereum Layer 2 scalability solution Starknet opened the query for airdrop eligibility on the 15th and announced that the airdrop distribution will take place on February 20th. The first round of token distribution set approximately 1.3 million wallets eligible to receive $STRK. This distribution will continue for four months, ending on June 20th.
Community criticizes the airdrop: Token allocation is unfair, almost wiped out…
However, this airdrop has sparked anger among many in the airdrop community. Firstly, many users chose to transfer funds out of their wallets after interacting with the protocol. However, according to the official rules, users will not be eligible for the airdrop if their wallets do not hold ETH or if the amount held is insufficient.
On the other hand, KOL @YourAirdropETH also expressed opinions on Starknet’s anti-whale mechanism, believing that Starknet has pre-allocated who can receive the airdrop. Out of the 1.3 million addresses, there are actually only 400,000 real users, while the remaining 900,000 have been given to Starknet and its investment institutions.
KOL questions the unfair distribution of airdrop tokens | Source: @YourAirdropETH
Institutions to unlock 13.1% within two months
Furthermore, according to the token release schedule, on April 15th, less than two months after the launch of $STRK on February 20th, over 1.3 billion $STRK tokens (13.1% of the total token supply) will be unlocked and distributed to investors and early contributors to Starknet. These tokens can be transferred and sold. Based on pre-trading price estimates, the value of these tokens has exceeded $2.15 billion.
Institutions holding 13.1% will unlock within two months
Generally, for various reasons, a project team and investors’ airdrop distribution is locked for at least one year. This practice not only helps ensure the team’s long-term commitment to the project and maintain market supporters’ confidence but also prevents insiders from selling a large amount of tokens in the early stages, which could cause a significant drop in token prices.
Regarding this atypical token unlocking, Starkware CEO Eli Ben-Sass also responded, stating that early investors can receive rewards for their contributions.
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