Starknet Foundation plans to distribute 1.8 billion tokens as rewards, transaction rebates

Quick Take

  • The Starknet Foundation plans to distribute 1.8 billion tokens as rewards and network rebates.
  • Various committees under the foundation will oversee token distribution.
  • Exact distribution details are still in development.

The Starknet Foundation, the organization behind the Ethereum Layer 2 network Starknet, plans to distribute 1.8 billion tokens as user rewards and rebates, with precise details still under development.

The foundation will employ various groups or “committees” to oversee the broader distribution of these Layer 2 blockchain tokens, according to a statement.

One specific committee, the “Provisions Committee,” will be tasked with rewarding users, including rewarding community members with tokens. This committee will distribute 900 million Starknet (STRK) tokens in a phased manner to reward past and future contributions by users and community members. This initial distribution phase may begin in the first half of 2024.

This plan follows the foundation’s recent confirmation of a token airdrop snapshot, which became known after a draft of the eligibility criteria (for the planned airdrop) briefly appeared on its website and was circulated on social media.

“We’ve been working on the first phase of distributions for a while now, and we are close to getting this over the line. There’ll be more formal communications on this soon,” the Starknet Foundation said.

Rebates and DeFi growth incentives

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Besides the rewards