• 30 May, 2024

Starknet Addresses Airdrop Issues, Ensures Smooth Token Distribution

Starknet Foundation recently updated its strategy to rectify a significant oversight in their initial airdrop event, which left several community members without their allocated STRK tokens. Starknet, a Layer 2 blockchain, is now facilitating the distribution through their Provisions portal, allowing access for those previously unable to claim their tokens. This move comes after the discovery of mislabeling among user groups and complications with assets staked on platforms like LidoFinance and RocketPool.

Starting today, April 24, 2024, pooled stakers who used designated staking protocols can claim their tokens directly via the portal. Starknet Foundation listed protocols such as LidoFinance, Rocket_Pool, BloxStaking, SharedStake, stakefish, Consensys, and ankrstaking. This process ensures that pooled stakers, who previously faced distribution challenges through their staking protocols, receive their due share.

Moreover, Starknet collaborated with Immutable to correct the mislabeling of some StarkEx users as VeVe users. These users, now correctly identified, also gained the ability to claim their STRK starting today. Meanwhile, discussions are ongoing regarding the token distribution for VeVe users, with further updates pending.

Additionally, the Starknet Foundation has implemented a cap of 43,200 STRK per eligible pooled staker to maintain fairness. This cap matches that of solo stakers, considering the different risk levels between the two categories. The foundation explained that this measure is crucial to prevent discrepancies in token distribution between individual pooled and solo stakers.

During this transition, a temporary pause in claiming through the portal is expected as Starknet migrates relevant eligible recipients to the new smart contract. This necessary pause will ensure that future claims can be processed smoothly.

In terms of market activity, Starknet’s token, STRK, has seen a 3.31% uptick in value in the last day, valued at $1.34. This uptick reflects the positive reception from the community following the foundation’s proactive steps to address the initial distribution issues and improve their service to token holders.

The Starknet Foundation has urged community patience and promises continual updates on its official communication channels. This development marks a critical step in enhancing trust and transparency in token distributions within the Starknet ecosystem.

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