StarkNet Foundation Reveals its Plans to Allocate Over 1.8bn STRK Tokens

StarkNet Foundation recently announced its plans to allocate over 1.8 billion STRK tokens in the near future, according to a statement published in a recent tweet on the X platform.

Timeline of Strike

Starknet Foundation has officially announced STRK tokens distribution plan to promote adoption and growth. Provisions Committee to oversee initial distribution and user rebates, while DeFi Committee focuses on incentivizing DeFi activity.

The Starknet Foundation, responsible for the Ethereum Layer 2 network Starknet, has recently addressed the community's growing speculation about its upcoming airdrop. The response comes in the wake of widespread discussions triggered by the circulation of two screenshots on social media, which purportedly revealed details of the airdrop criteria.

StarkWare delays StarkNet token unlocks release to April 2024. Originally scheduled for November 29, 2023, the new StarkNet token unlocks date has been rescheduled to April 15, 2024.

Starknet, an Ethereum Layer 2, has disclosed the initiation of "appchains," a framework designed to enable developers to construct several application-specific blockchains within the Starknet ecosystem. The innovative project is in alignment with the growing trend of modular networks in the Layer 2 ecosystem, spearheaded by projects like Optimism, Polygon, zkSync, and Arbitrum.

The transactions per second on the Etheruem blockchain will receive a significant boost now that Starknet's Quantum Leap upgrade has been deployed on the Ethereum mainnet. Ethereum TPS To Scale Up In a groundbreaking development for the Ethereum blockchain, the scaling barrier has been shattered, according to an announcement by Uri Kolodny, co-founder and CEO of StarkWare.

Starknet, the zero-knowledge rollup solution from Starkware, is readying a major upgrade. According to the company, thanks to the update, throughput — or transactions-per-second (TPS) — is expected to surpass not only Ethereum mainnet, but also all other existing layer-2s.

zkSync Era's daily active addresses and number if transactions gained upward momentum, as did its TVL. However, MATIC opted for another route as it witnessed a downfall over the last 24 hours.

Zero-knowledge layer-2 scaling solution Starknet has moved closer to full Ethereum Virtual Machine (EVM) compatibility with the upcoming August launch of Kakarot, a new testnet. Kakarot's team has also announced that it has received backing from Ledger co-founder Nicolas Bacca, Starkware, and Ethereum co-founder Vitalik Buterin.

The blockchain is the first with native account abstraction that the web3 developer platform offers, allowing developers to build applications with Alchemy's infrastructure on StarkNet.

Starknet is a permissionless layer 2 blockchain in which developers can create smart contracts with the Cairo programming language and distribute them across different decentralized applications.