The recent announcement of the #Arbitrum airdrop has generated a lot of noice lately
This airdrop will probably become the largest in the crypto history 🤯
But what about the #Starknet token? 🤔
In this post, I'll provide an update on the #Stark token and its potential #Airdrop
Let's take a look at:
➡️ Stark's tokenomics
➡️ Will Starknet distribute an airdrop ?
➡️ Which criteria can be used for the airdrop?
➡️ The current state
Arbitrum's token launch date (March 23) and eligible users for the airdrop were recently announced: arbitrum.foundation
This event is expected to attract many users and airdrop hunters to L2 who don't have tokens like #zkSync, #Scroll, #Taiko, and ofc Starknet
On the Starknet side, the token launch is closer than ever with the upcoming launch of the first phase of the network governance. You can read more about it here: twitter.com/Starknet/status/1635977058546520064
💡 STARK tokenomics 💡
The token will be used for the following purposes:
👉Network governance
👉Network security through staking
👉Payment of fees
👉Incentivizing developers, projects, and users
#StarkWare has minted 10 billions tokens, which will be distributed as follows (picture 2):
➡️17% for StarkWare's investors (they have raised $282M: www.crunchbase.com/organization/starkware-industries-ltd )
➡️32.9% for the core contributors, i.e. the team, advisors, consultants, and partners who help build the network
The remaining 50.1% will be allocated to the foundation and used as follows:
➡️2% will be used for donations, primarily to research institutions such as universities
➡️9% will be allocated towards community provisions
➡️9% for community rebates, which will be used to refund a portion of the fees that users pay to use the network. For example, if a user pays $0.1 per transaction, 50% of that amount will be refunded to them through this 9% supply
➡️12% of the supply is allocated to grant in order to support research that contribute to the growth and security of the network
➡️10% as a strategic reserve to fund ecosystem activity
➡️8.1% has not been allocated and its future use will be decided by the community
This is purely speculative on my part, as there is no information from StarkWare and its team, however, it is possible that one of these following tranches could be used to airdrop end users:
👉Unallocated
👉Community provisions
👉Strategic reserve
💡 Will Starknet distribute an airdrop ? 💡
StarkWare has not hinted at any such plans.
While airdrops are often controversial, I believe that one would be beneficial for the democratization of Starknet.
Even if some users who receive the airdrop will simply sell and move to another network, a significant part will discover the ecosystem this way and stay on it.
In my opinion, airdrops can be a good onboarding and marketing tool, as we have seen with Arbitrum's airdrop and Optimism
However, in the case of Starknet, the timing seems too early.
The network is still too immature and there are too few dApps on the Mainnet at present.
But, as a user, is the perfect time to position yourself in it 😏
💡 If so, which criteria will be used for the airdrop? 💡
The following critera were used for the recent Optimism and Arbitrum airdrops (pictures 3 and 4) 👇
In case of Starknet decides to airdrop part of its supply to network users, the following activities should be prioritized:
👉Use the official Starknet bridge : starkgate.starknet.io
👉Frequently use applications on Mainnet (not just once) : twitter.com/Starknet_OG/status/1626576001538101248
👉Use applications with a minimum amount of funds
👉Provide liquidity on DeFi applications
👉Participate in project DAO (this is not yet possible on Starknet since no project has launched a token)
👉Bonus, regularly use applications on Testnet : twitter.com/Starknet_OG/status/1625878738545283074
I plan to write a full article about the Starknet ecosystem to help you :
➡️Where to start
➡️List of all applications divided by sector
➡️List of tools
➡️And much more
So you know what to do 😏
Even if StarkWare decides not to airdrop tokens to the community, using Starknet dApps enables you to explore a new ecosystem, discover new projects, and learn new things.
Trust me, it is worth it.
💡 The current state 💡
It is clear that StarkWare is currently focusing primarily on developers and may be somewhat neglecting users, but this appears to be a strategic choice:
👉The network is not yet optimized enough to accommodate and meet the needs of users
👉Since Starknet is not EVM compatible, they need to attract as many developers as possible to the Cairo language in order to build the infrastructure and environment necessary for developers to best express themselves and build the future of DeFi.
However, users are starting to see progress, especially with the governance phase mentioned above: twitter.com/Starknet/status/1635977058546520064
In addition, there are two proposals to incentive end-users, inspired by campaigns like Optimism or Arbitrum, which have been proposed by two Starknet projects:
community.starknet.io/t/proposal-incentivizing-the-growth-phase-of-starknet/7301
community.starknet.io/t/draft-proposal-growth-and-marketing-alignment-on-starknet/8064
So things are moving in the right direction for users
I aim to provide you with comprehensive sources to help you follow and understand the ecosystem as best as possible as a user 🖖
So feel free to follow me and join our Community Discord, where we provide you with the latest and most important information and alpha about the Starknet ecosystem in real time:
discord.gg/4MmAsm5XRq
I hope you enjoyed this post !
If so, don’t hesitate to like and Mirror to support me
And stay tuned for next week. I will publish some sources that will greatly helps you monitor the entire ecosystem.