Starknet’s STRK Soars to $7 on Binance with Massive Airdrop Claims

Starknet, a scaling protocol built on the Ethereum network, has recently started the distribution of its native token. Within the first 90 minutes of the launch, eligible users were able to claim over 45 million STRK tokens. The token has also been listed on major exchanges such as Binance and KuCoin, where it reached prices of over $7 and $5 respectively. CoinMarketCap data shows that STRK has been trading between $3 and $4, with a market capitalization of over $2.1 billion.

A total of 1.3 million wallets are eligible to claim the STRK token, including those belonging to Ethereum solo and liquid stakers, Starknet developers and users, as well as projects and developers from outside the Web3 ecosystem. To facilitate the token distribution process, the Starknet Foundation has launched a dedicated portal where users can check their eligibility and receive STRK tokens. The foundation plans to allocate over 700 million STRK tokens across nine categories, which will be used for governance and transaction fees. The protocol has future plans to introduce staking of STRK tokens.

Starknet is one of Ethereum’s prominent layer-2 scaling solutions that utilizes zero-knowledge (ZK) rollup technology. This allows for off-chain processing of transactions and smart contract functions, with cryptographic proofs submitted to the Ethereum blockchain to ensure security. The protocol has addressed concerns raised by both Starknet and Ethereum community members regarding the eligibility criteria for the STRK airdrop. The Starknet Foundation acknowledged feedback from users who felt excluded from the airdrop due to certain criteria and stated that they are working on a resolution for those who were not deemed eligible.

As the distribution of the STRK token gains momentum, it is important for participants in the cryptocurrency ecosystem to remain cautious of potential scams and malicious links.

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