Feb 22, 10:12 PM

StarkWare Revises STRK Token Plan, Slows 13.4% Supply Release After 30% Drop

StarkWare, the developer behind Starknet, has made significant adjustments to its STRK token distribution following community feedback. Initially, Starknet announced the eligibility for claiming STRK tokens under its Provisions Program, targeting contributors across various sectors including Starknet, StarkEx, Ethereum, and open-source projects, with 50% of the tokens allocated. Shortly after the distribution began, 104.7 million STRK tokens were claimed by 88,000 users, representing 8.39% of all eligible users, with 15.43% being Starknet users and 1.01% StarkEx users. However, the value of STRK tokens fell by over 30% as many holders sold off their allocations, leading to scrutiny of Starknet's token distribution plan for its development team and investors. In response to community criticism, StarkWare announced changes to the token unlock schedule, opting for a more gradual release of the 13.4% of the total supply initially planned for a one-time unlock. This decision was influenced by concerns over the team's long-term alignment with the Starknet ecosystem, as stated by StarkWare CEO Eli Ben-Sasson.

#StarkWare #Starknet #Provisions Program #StarkEx #Ethereum

Written with ChatGPT (GPT-4).

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StarkWare Revises STRK Token Plan, Slows 13.4% Supply Release After 30% Drop

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