JAKARTA - Starknet, Ethereum's layer-2 platform, is facing controversy over the STRK airport token that will be carried out in the near future. The airdrop is intended to reward various early users of Starknet and Ethereum, but has received criticism from some parties who feel they have not received a fair allocation.
The Starknet Foundation, a non-profit organization formed to support Starknet's development, announced that it will distribute 700 million STRK tokens through a mechanism called provisions. Provisions is a token claim that can be exchanged for actual STRK tokens after the token can be transferred between wallets.
Provisions can be claimed by users who meet certain criteria, such as active Starknet users, Starknet developers, StarkEx users who are Starknet-based exchange protocols, Ethereum protocol contributors, Ethereum stakers, and certain non-crypto open-source project developers.
The provisions claim process starts on February 20, 2024 at 19.00 WIB and will last until June 20, 2024. Users who are entitled to provisions can visit the claim page on Starknet's official website and connect their wallets to see the number of tokens they can claim.
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However, since the announcement of this airdrop, Starknet has received many complaints from the crypto community. Some of the complaints that have emerged include the allocation of tokens for Ethereum stakers being too small, only about 0.5% of the total supply of STRK tokens.
The token allocation for active Starknet users is too complicated, as using formulas involving transaction numbers, transaction volume, activity duration, and account balance, the token allocation for Ethereum protocol contributors is unclear, as there are no specific criteria to determine who is a contributor, and some other complaints.
The Starknet Foundation recognizes that there are some technical issues and errors in this airdrop process, and promises to fix it as soon as possible. They also said they would announce a new initiative called DeFi Spring, which aims to provide additional incentives to users and developers participating in the Starknet ecosystem.
The Starknet Foundation insists that they are always committed to transparency and openness in every decision they make. They also said that this airdrop was not the ultimate goal, but rather the beginning of a long journey to build a secure, measurable, and decentralized layer-2 network.
The STRK token is a utility token used to pay gas costs, participate in governance, and get a share of network revenue. The token was launched on Ethereum Mainnet in November 2022, but is currently untransferable between wallets. The Starknet Foundation plans to enable token transfer functions in the second quarter of 2024.
Currently, the STRK token is not yet available on any exchange, but has been traded on the secondary market at varying prices. Based on data from Xe, one STRK token is equivalent to 2.01 US dollars (IDR 31,417.66) on February 19, 2024. Thus, the valuation of the STRK token reached around 20 billion US dollars (IDR 313 trillion), making it one of the largest layer-2 projects in the world.
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