The long-awaited news is here. Starknet recently announced its airdrop, which will commence from February 20th through June 2024. You have less than a week, so get prepared to claim your STRK token. We will be showing you quick and easy steps to participate in the much-awaited Starknet airdrop.

What is StarkNet?

StarkNet is a permissionless decentralized rollup optimized for scaling decentralized apps and enabling STARK proofs on Ethereum. Some key things to know about StarkNet:

It is a layer 2 scaling solution that uses Validium-style rollups to achieve scalability while inheriting the security of the Ethereum mainnet. This allows dapps to run faster and cheaper compared to deploying directly on layer 1.

Starknet utilizes the power of STARK technology to ensure computational integrity. By validating off-chain transactions with advanced math and cryptography, Starknet overcomes Ethereum’s scalability limitations. Starknet is a validity rollup that provides unlimited scale while retaining Ethereum’s security and decentralization

StarkNet Airdrop and Eligibility

Starknet on Wednesday announced the launch of its airdrop, which is called “The Starknet Provisions Program.”

The StarkNet Foundation will distribute more than 700 million STRK to nearly 1.3 million addresses. A total of 1.8 million STRK is dedicated to the community and will be distributed over time.

STRK will be available for claiming on February 20th, 2024, starting at 12 p.m.

Here are the groups of people eligible to claim Starknet airdrop:

1. Starknet Users

Early Starknet users who have tested and used applications built on the network will be eligible to claim Starknet airdrop. This group is considered because they have played and are still playing a crucial role in the advancement of the network.

“Users who performed more than five transactions in total up to November 15th, 2023, were active for three months or more, transacted with $100 volume or more, and had 0.005 ETH or more in their account on November 15th, 2023, are eligible for Provisions.”

2. Starknet Early Community Members

This category includes all members approved to be part of the Starknet Early Community Member Program. They are considered to play a vital role in the growth and success of Starknet’s network. They include community managers, event organizers, early code contributors, and those who helped expand Starknet’s reach.

3. Starknet Developers

Developers who made a substantial contribution to the Starknet ecosystem can also claim STRk airdrop. Their commitment to Starknet and the code they wrote have contributed to Starknet’s advancement.

4. StarkEx Users (Starknet’s predecessor)

Past users of StarkEx-powered dApps are also eligible for this allocation due to their interaction with STARK technology in its early stages. These interactions helped to fortify the foundations of Starknet.

5. Ethereum Contributors

Because Starknet relies on Ethereum’s decentralization and security for its network, the people and projects maintaining the network are critical to the Starknet ecosystem; therefore, contributors from this group are eligible. Without the pioneering work of Ethereum’s developer community, Starknet and its Ethereum-grade security would not be possible.

Other Eligible Categories Include:

• Ethereum Protocol Guild members
• Ethereum developers
• EIP Authors
• ETH stakers
• Open-source developers

You can also follow this link to check your eligibility by connecting to your Starknet wallet or pasting your wallet address. https://provisions.starknet.io

It’s okay if you are ineligible for Starknet airdrop, this is just the first phase, and while we hope that the eligibility criteria will be reevaluated, there are other airdrops you can participate in. Check out our list of Best Paying $0 Cost Crypto Airdrops Not to Fade in 2024

How to Claim StarkNet Airdrop

For those who are eligible for this airdrop, claiming it is as easy as this.

Go to the official portal at https://provisions.starknet.io starting February 20th by 12 p.m. (UTC) to claim your token.

Note that you will need a Starknet wallet to claim your STRK. If you have a Starknet wallet, make sure you have the latest version installed and that your account is up-to-date. You will be prompted to update if need be.

Upon the launch of Provisions on February 20th, 2024, all fees for claiming STRK via the official portal will be covered by the Starknet Foundation.

Uses of the $STRK Token

STRK, which is the native token for the Starknet ecosystem, will be used for several functions on Starknet’s path to decentralization.

1. Paying network fees

STRK will be used for payment transaction fees. Though fees on Starknet are currently paid using ETH, with the distribution of STRK into the community, members will now have the choice to pay with either ETH or STRK.

2. Governance:

STRK holders can use their token to participate in governance within the community. It can be used to vote and decide on issues that will shape Starknet’s future.

3. Staking:

“In the future, STRK will be used for staking within a proof-of-stake (PoS) model to choose among a decentralized network of sequencers, thus ensuring Starknet’s decentralized operation.”

Conclusion

StarkNet is a highly scalable and decentralized L2 solution that expands Ethereum’s capabilities using STARK proofs and rollups while remaining trustless. It aims to significantly improve performance and reduce gas fees for dApps. Its airdrop allocation focuses on individuals who will participate in governance processes, staking, and the payment of network fees. This distribution is expected to help give the Starknet ecosystem more momentum and ultimately have a great impact on blockchain technology and Web3 at large. And finally, the first phase of this distribution will run from February 20th through June 20th, 2024.