Analysis

Did You Qualify for Starknet's STRK Airdrop?

The much-hyped Ethereum L2 token is finally arriving.
Jack Inabinet Jack Inabinet Feb 14, 20246 min read
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Did You Qualify for Starknet's STRK Airdrop?

Airdrop Hunters have long regarded Ethereum's Layer 2 solutions as the ultimate arenas for harvesting complimentary crypto riches. Today, Starknet is living up to their expectations, announcing an epic token distribution that will easily be worth hundreds of millions of dollars!

Over 1.3M addresses are eligible to claim STRK, making this airdrop the largest that crypto has ever seen, and with an extensive list of qualifying actions used to determine eligibility, many outside of the Starknet ecosystem will be delighted to find they received the drop…

Today, we’re highlighting the diverse set of groups that qualified for STRK, exploring the use cases for this newly acquired STRK, and giving hope to those who found themselves excluded from this claim for the drops to come!


🧐 Who Can Claim STRK?

Starknet has allocated a total of 900M STRK to Provisions – its version of an airdrop fund – of which 728M has been earmarked for the first round, with tokens set to be disbursed across the Starknet, Ethereum, and open-source communities.

Individual claim amounts will range in size from 111.1 to 180k STRK, and while STRK tokens will not be claimable until February 20 at 12pm UTC, you can now check allocations through the Provisions portal!

Eligible recipients will have until June 20 to claim their allocation, after which point the remaining tokens will be clawed back for future Provisions distributions.


1️⃣ Starknet Community
More than 70% of the first round of Starknet Provisions has been reserved for the individuals and groups who have developed, engaged with, and battle-tested Starknet. The greater Starknet community made invaluable contributions to the network, sacrificing their time and capital to help bring the ecosystem to its current level of maturity. For their efforts, they’ve been rewarded with an airdrop!

  • Starknet Users- 51.3% of Round 1 Provisions
    Anyone who performed more than 5 transactions on Starknet prior to November 15, had been active for at least three months, transacted at least $100 in volume, and had at least 0.005 ETH in their Starknet account on November 15 is eligible to receive a Provision!

    Users who meet the above criteria are eligible to claim anywhere from 500 to 10k STRK, with multipliers applied to users who had older addresses, generated more transaction volume, or interacted with more smart contracts.
  • StarkEx Users- 9.6% of Round 1 Provisions
    StarkEx was a scalability engine for crypto exchanges developed by StarkWare that served as the proving grounds for the novel proof technology and Cairo virtual machine used to power Starknet.

    Because the users of these StarkEx chains contributed to the testing of early-stage STARK technology that laid the foundation for Starknet, the network chose to reward anyone who made at least 8 transactions on the dYdX, ImmutableX, Rhinofi, or Sorare StarkEx dApps prior to June 1, 2022, with 111.1 STRK!
  • Starknet Community Members- 9.1% of Round 1 Provisions
    Early code contributors, event organizers, community managers, and others who have helped in amplifying Starknet’s reach or played a vital role in the network’s growth and success. 

    The Starknet Early Community Member Program was created to distribute tokens to these key ecosystem participants and the community members who were approved as part of this program are eligible to claim allocations ranging in size from 10k to 180k STRK!
  • Starknet Developers: 2.1% of Round 1 Provisions
    Every crypto network relies on its developers providing users with things to do to attract capital to the chain and give people a reason to transact!

    To reward them for building on Starknet, every developer who contributed at least three commits before November 14, 2023, with at least one commit between January 1, 2018, and November 15, 2023, to a GitHub repository recognized as belonging to the Starknet ecosystem is eligible to claim a Provision of 10k STRK.

2️⃣ Ethereum Community
Starknet’s inaugural round of provisions allocates 26% of its tokens to Ethereum communities. This distribution not only encompasses the various classes of Ethereum developers who have built the blockchain that Starknet settles to, but also the Ethereum stakers, making the STRK airdrop the first major airdrop to incorporate a token distribution to Ethereum stakers!

  • Staking Pools: 17.4% of Round 1 Provisions
    Ethereum stakers secure the network and championed its transition to proof-of-stake. Because of the sacrifices that they made and the vision they had, Starknet is rewarding identified staking pools with 360 STRK per validator!

    Staking providers claiming more than 1M STRK must commit a distribution to their stakers prior to receiving their tokens, but those receiving less than that amount will be able to claim it on behalf of stakers for distribution directly through the Provisions portal.
  • Solo Stakers: 4.8% of Round 1 Provisions
    Solo stakers play a crucial role in decentralizing Ethereum’s security and take on greater risk than their counterparts who stake through a liquid staking mechanism or centralized exchange and therefore deserve a greater reward.

    As such, any validator who deposited prior to the Merge in September 2022 is eligible to claim 1.8k STRK per validator, subject to a cap of 12 validators per recipient!

    Solo stakers who deposited prior to the Ethereum genesis block took on an even greater level of risk and are therefore eligible to claim 3.2k STRK per validator with a cap of 12 validators per recipient.
  • Ethereum Developers: 3.4% of Round 1 Provisions
    The dedication and expertise of developers on Ethereum has been instrumental in allowing the network to succeed and created the need for novel L2 innovations like Starknet to be built.

    As a thank you, Starknet is rewarding all developers who contributed at least three commits before November 15, 2023, with at least one commit between January 1, 2018, and November 15, 2023, to a GitHub repository recognized as belonging to the Ethereum ecosystem with 1.8k STRK!
  • The Protocol Guild: 0.2% of Round 1 Provisions
    Ethereum’s Protocol Guild is a collective funding mechanism for the ~150 Ethereum core protocol contributors who are instrumental in the L1's development and security.

    For their contributions to Ethereum, Starknet is rewarding each member of the Protocol Guild with 10k STRK, with an additional 6M STRK set to vest over time for distribution to the group’s evolving membership base.
  • EIP Authors: 0.2% of Round 1 Provisions
    Ethereum Improvement Proposals (EIPs) help to strengthen the functionality of Ethereum, which in turn strengthens Starknet. Authors and co-authors of EIPs, including ERCs, who published their proposal to GitHub prior to November 15, 2023, are eligible to claim 2k STRK!

3️⃣ Open-Source Community
To celebrate crypto’s rich history of supporting open-source public goods funding and in hopes of spreading this practice to other industries, Starknet is allocating the remaining 2.1% of its Provisions budget to support open-source developers!

  • Open Source Developers: 2.1% of Round 1 Provisions
    Starknet’s hopes that Provisions to developers working on non-crypto open-source projects will incentivize more of this external brain power to explore and participate in the crypto industry!

    Developers who committed at least three times before November 15, 2023, and with at least one commit between January 1, 2018, and November 15, 2023, to one of the top 5,000 GitHub projects (ranked by GitHub stars) are eligible to claim 111.1 STRK.

🪂 What Should I Do With My STRK?

For the fortunate 1.3M Starknet Provisions recipients who will claim airdrops ranging in size from hundreds to hundreds of thousands of US dollars, there is certainly no shame in cashing out: you’re under no obligation to HODL your free STRK.

But before you press sell, it's important to explore the Starknet ecosystem firsthand to come to an informed decision on what to do with your tokens! Starknet’s December V13 upgrade introduced the optionality to use STRK as a gas token, meaning claimants can do just that without needing to bridge ETH to the L2 to pay for gas.

Those who elect to retain their tokens can opt to participate in the network’s governance and will hopefully one day be able to stake their STRK to generate proofs and sequence transactions for Starknet in exchange for yield.


😭 Didn’t Qualify For STRK?

While Starknet's airdrop will be distributed to an enormous number of addresses, you shouldn't beat yourself up if you missed this drop.

Instead, acknowledge that practically everyone who explored Starknet prior to the November 15 snapshot is walking away with 500 STRK in free money and use your inability to participate as motivation to position yourself now for future claim opportunities.

The Bankless Airdrop Hunter guided over 1,000 Bankless Citizens in establishing their eligibility for the Starknet airdrop as users. With 70 remaining high-quality tokenless protocols, it's the only resource you need to hunt for crypto’s hottest drops!

Check out the Airdrop Hunter today and see for yourself why it has never been easier to position yourself for airdrops.

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Jack Inabinet

Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business and remains based out of the Seattle area.

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