Starknet Foundation Set to Distribute 1.8B STRK Tokens Imminently

• Starknet Foundation Plans Allocation of Over 1.8 Billion STRK Tokens
• StarkWare Technology: Addressing Ethereum's Limitations
• STRK Token Allocation: Starknet Foundation's Strategy
• User Rebates and Future Plans

Starknet Foundation Plans Allocation of Over 1.8 Billion STRK Tokens

The Starknet Foundation is getting ready to distribute more than 1.8 billion STRK tokens, as per a recent announcement made through their official Twitter account.

StarkWare Technology: Addressing Ethereum's Limitations

StarkWare technology, promoted by the Starknet Foundation, seeks to tackle the primary issues that hamper the performance of the main Ethereum$2,315 -2.42% blockchain - slow throughput and high transaction fees. StarkWare accomplishes this by employing Zero-Knowledge (ZK) rollup technologies. These technologies compile hundreds of transactions off the primary blockchain, thereby reducing computational burden.

STRK Token Allocation: Starknet Foundation's Strategy

The Foundation had previously reserved 50 million STRK tokens in October for an innovative Early Community Member Program (ECMP). Moreover, a grand sum of 900 million STRK tokens is set aside for the Foundation's Provisions Committee. This allocation is to appreciate past contributions and incentivize future participation from users and community members.

User Rebates and Future Plans

In addition to this, Starknet has also set aside another 900 million tokens specifically for user rebates. The Foundation stated, We are in the process of devising a plan for this initiative. Simultaneously, a new committee is being formed that would take over the task of distributing STRK tokens to reward users for their critical transactions on the network.

Further updates were provided on December 8 at 12:34 UTC through a tweet.

Edited by Jonathan Stoker