Starknet Airdrop: Understanding STRK Token Distribution and Valuation Expectations

Communication and Sharing.

On February 14, Starknet announced the commencement of its first-round token distribution. The native token, STRK, will be distributed starting from February 20 at 20:00 (UTC+8) through the Starknet Foundation’s Provisions program (also known as the token airdrop plan), with the claiming interface opening at that time.

In this initial token distribution, approximately 1.3 million addresses are eligible to receive the tokens. A total of 700 million STRK coins will be distributed (out of the planned total supply of 1.8 billion for community shares), and the claiming period will last for four months until June 20.

stark airdrop enquiry：https://t.co/PHSG15zTUx

Airdrop Eligibility Criteria

Starknet has set basic requirements for users to qualify for the airdrop. Accounts meeting these criteria will be eligible for different amounts of tokens. Additionally, Starknet has collaborated with Trusta Labs to filter out witch addresses. Here are the basic rules for community users’ airdrop eligibility:

1. Used Starknet for at least three independent months.
2. Completed at least six transactions.
3. Total transaction amount not less than $100.
4. Held at least 0.005 ETH at the time of the snapshot (November 15, 2023).

Only funds held in decentralized exchanges (DEX) by liquidity providers (LP) and lending protocols were considered for the snapshot. Other assets like USDT were not included. Consequently, many interaction addresses were excluded.

Trusta Labs, the collaborator in this witch hunt, has extensive experience in identifying witch addresses. Based on community feedback, a significant number of accounts with over a hundred interactions were flagged as witches, resulting in a token allocation of zero.

Specific Airdrop Recipients

The Starknet Foundation will distribute airdrops to various users who contribute to Starknet’s development. This includes:

1. Starknet Users: Those who meet the basic airdrop eligibility criteria and are not identified as witch addresses.
2. StarkEx Users: Users who have interacted with StarkEx-based DApps (such as dYdX, Rhino, IMX) before June 1, 2022.
3. Starknet Community: Participants in the Early Community Member Program (ECMP).
4. Starknet Developers: Users who made specified development contributions before November 15, 2023 (including Ethereum developers, EIP authors, and GitHub contributors).
5. Ethereum Stakers: Stakers before September 15, 2022.
6. Ethereum Protocol Guild Members: Those listed as members of the Ethereum Protocol Guild by November 15, 2023.

Token Allocation Details: In this airdrop, Starknet users will receive 51.33% of the token share, ETH stakers will get 21.99%, StarkEx users and Starknet ECMP members will receive 9.62% and 9.05% of the token share, respectively. The remaining allocation details are as follows:

Price Estimation

According to Aevo OTC trading platform data, STRK’s current over-the-counter price ranges roughly between $1.7 USDT to $1.8 USDT. With an initial circulating supply of approximately 700 million coins, the initial market cap is around $1.2 billion, ranking it fourth in Layer 2 (L2) solutions, close to Arbitrum’s Fully Diluted Valuation (FDV).

Token Use Cases: Starknet’s airdrop documentation provides detailed information on the use cases for STRK tokens. Compared to previous disclosures, there haven’t been significant changes. The main use cases for STRK tokens include:

1. Network Fee Payments: After the Provisions phase begins, users can use STRK to pay transaction fees. However, the Starknet protocol will continue using ETH to pay fees on the Ethereum network to ensure security.
2. Governance: Post-Provisions, STRK holders can participate in ecosystem development governance, influencing Starknet’s future direction.
3. Staking: STRK will be used for Proof of Stake (PoS) model staking, allowing users to stake tokens with decentralized sequencers to ensure Starknet’s decentralized operation.

Conclusion

The Starknet airdrop reveals a large number of eligible addresses, with relatively low entry barriers—most accounts only need to hold 500 tokens. For users effectively guarding against witch attacks, this airdrop promises significant wealth effects. As token distribution mechanisms evolve, opportunities based solely on capital volume may become scarcer.

Additionally, the 2023 Arbitrum token launch triggered a trend toward Arbitrum airdrop-eligible accounts. These airdrops, as widely disseminated promotional tools, may yield substantial benefits in the early stages.

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