English
French
German
Italian
Russian
Spanish
Starknet token distribution not yet finalized, despite speculation over portal screenshots
The Starknet Foundation is warning community members to be on the lookout for scams relating to circulating screenshots of early iterations of a token distribution portal.
10 Total views
Listen to article
News
The Starknet Foundation has moved quickly to quash speculation around screenshots of early iterations of a distribution portal for the upcoming launch of its native SRTK ecosystem token.
Information shared with Cointelegraph ahead of an announcement on X (formerly Twitter) outlined that the Foundation is still developing plans to distribute the token to certain users, contributors, and investors. The Ethereum layer 2 scaling network previously outlined initial plans for the Starknet token design in July 2022.
We have seen that a preview of an iteration of a possible provisions portal has been shared on social media. As noted a year ago in the original announcement of the STRK token, the Starknet Foundation is developing plans to distribute the token to certain users/contributors for…
— Starknet Foundation (@StarknetFndn)
Screenshots disseminated online have been labeled “draft plans that are still under development.” A spokesperson from StarkWare told Cointelegraph that details of official criteria and the provision mechanism of STRK tokens will be shared once the company has finalized them:
“The cut-off for any criteria used to determine who may receive tokens or how many tokens is in the past, and no actions or activity now can impact eligibility in any way.”
The company also stressed that community members should be acutely aware of scams that will look to take advantage of any uncertainty around the STRK token distribution.
Related: Ethereum L2 Starknet aims to decentralize core components of its scaling network
A number of different X users reposted screenshots of the early iterations of the Starknet token provisions portal and further information that alluded to certain requirements to receive STRK tokens.
Another image circulated online containing missing text and spelling errors intimates that GitHub developers, early Ethereum adopters, and stakers, as well as Starkex users, could also be eligible for STRK tokens under certain criteria. This information conflicts with the initial distribution plans shared by StarkWare in 2022.
Another screenshot circulated on social media which purportedly shows additional eligibility criteria for the planned STRK token distribution. (Source: X (formerly Twitter)
StarkWare’s initial post outlining plans for the STRK tokens notes that ten billion tokens have been minted off-chain. This includes a disclaimer noting that STRK tokens do not represent equity in StarkWare, participatory rights in StarkWare, or any right of claim from the company.
Related: More TPS, less gas: Ethereum L2 Starknet outlines performance upgrades
The initial plans for token allocation noted that 17% would go to StarkWare investors, and 32.9% to Core contributors, including StarkWare employees, consultants, and Starknet developer partners. The remaining 50.1% were granted to the Starknet Foundation and are earmarked to be distributed for a variety of instances as per the screenshot below:
Starknet had previously stressed that precedence would be given to developers of core infrastructure and decentralized applications (DApps) as well as other contributors to ecosystem security.
Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable
