Metaverse Post reports that the Starknet Foundation is in the process of distributing 1.8 billion STRK tokens intended for user rewards and rebates.

The creator of Starknet, a Layer 2 solution on Ethereum, has disclosed plans to distribute over 1.8 billion STRK tokens. Starknet Foundation The initiative includes a substantial allocation of approximately 900 million STRK tokens intended to reward users and members of the community for their past and ongoing contributions. Stark (STRK) tokens To oversee the comprehensive distribution of STRK tokens, the foundation intends to establish several committees.

One such committee, known as the 'Provisions Committee,' is dedicated to rewarding users, particularly community contributors. Beyond rewards, they are also focused on implementing 'user rebates' to help mitigate transaction costs. Furthermore, the 'DeFi Committee' will be essential in boosting liquidity within the decentralized finance ecosystem.

The initial phase of the token distribution process is approaching its conclusion, with 900 million tokens set aside for user rebates, designed to refund transaction fees incurred on the network. Additionally, a further 50 million STRK tokens have been allocated as incentives specifically for the DeFi chain.

Starknet operates as a decentralized network employing a zero-knowledge rollup scaling solution, which compresses multiple transactions into an off-chain layer before simultaneously recording them on the Ethereum blockchain.

The Starknet Foundation has confirmed plans for an airdrop. Layer 2 network on Ethereum This initiative is part of the foundation's broader approach, which includes a token airdrop snapshot that had briefly been made public through a draft of the eligibility criteria circulating on its website and social platforms.

Earlier, the Starknet Foundation disclosed that a total of 10 billion STRK tokens would be minted, with 50% of these tokens to be held by the foundation itself, while the other half will be reserved for core developers, contributors from the ecosystem, and the broader community.

With the Starknet Foundation’s planned distribution of over 1.8 billion STRK tokens currently in progress, the company's strategy is aligned with the foundation's larger objectives. recent confirmation Stay informed about cryptocurrency distributions by checking our updates, and please remember, the content on this page should not be considered as legal, tax, investment, or financial advice. Always invest an amount you can afford to lose, and consult with a financial advisor if you're uncertain. For more details, it's advisable to review the terms and conditions, along with the help and support resources offered by the issuer or advertiser. MetaversePost is dedicated to providing accurate and unbiased news, but keep in mind that market conditions can change unexpectedly.

Alisa, a committed journalist at Cryptocurrencylistings, focuses on cryptocurrency, zero-knowledge proofs, investments, and the evolving space of Web3. With a sharp eye for new trends and technologies, she provides in-depth coverage aimed at keeping readers informed and engaged in the fast-changing world of digital finance.

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