0.5% of the STRK supply allocated to early contributors to the Starknet ecosystem
The Starknet Foundation, established in November 2022, is injecting new energy into its Ethereum layer 2 network by rewarding its most dedicated members. Although STRK tokens will not be available on the market until the following spring, the foundation has already allocated 50 million of these tokens through its Early Community Member Program (ECMP).
This initiative aims to encourage the participation of developers and other pillars of the Starknet community who have made significant contributions through technical discussions, involvement in crucial projects, event organization, and regular production of content related to the Starknet brand. With an application deadline open until November 19th and decisions expected by December 29th, the foundation demonstrates its commitment to supporting the growth and retention of its community base.
The endowment from the Starknet Foundation comes from an initial allocation of 50.1% of the first emission of 10 billion STRK tokens, totaling approximately 5 billion STRK tokens. While the market value of the tokens remains undetermined, the intention to reward and incentivize the community is clear.
With mandates such as supporting Starknet users, developers, and researchers, as well as overseeing the ongoing development of the network, the Starknet Foundation, led by a board of seven members including co-founder Eli Ben-Sasson, is at the forefront of the evolution of this promising ecosystem.