Starknet’s Massive Airdrop of 728 Million STRK Tokens Sparks Interest
After a tumultuous week, Starknet has begun distributing 728 million STRK tokens to nearly 1.3 million addresses, making it the largest airdrop of the year. The introduction of the STRK token was marked by notable volatility, with its price fluctuating up to $7 on Bybit before stabilizing around $3 after a volatile opening.
Operating as a layer 2 network utilizing Zero Knowledge technology, Starknet aims to enhance Ethereum’s scalability. By bundling off-chain transactions into a proof submitted to Ethereum, it seeks to accelerate transaction processing and reduce associated costs, demonstrating an innovative path to alleviate the bottlenecks experienced by the main blockchain.
Impressive Total Valuation
With an initial total supply of 10 billion tokens, the diluted total value (FDV) of STRK briefly reached $70 billion, placing its initial market capitalization in the billions of dollars.
At the time of writing, the FDV of STRK is approximately $30 billion. However, the actual market capitalization, which corresponds to the circulating supply multiplied by the current price, is around $2 billion.
The Starknet Foundation, holding 50.1% of the total STRK supply, is dedicated to community airdrops, grants, and donations, reinforcing Starknet’s commitment to its ecosystem. A significant portion of 24.68% is reserved for early contributors and investors, while 32% supports StarkWare employees, consultants, and developer partners, with a gradual unlocking over 31 months starting in April.
