Cointime

Cointime

Download App
iOS & Android

Starknet Foundation to Allocate 1.8B STRK Tokens 'Soon'

Validated Individual Expert

Starknet said 900 million STRK are earmarked for the foundation’s Provisions Committee, and 900 million will be dedicated to user rebates.

The Starknet Foundation, the governing body to promote Ethereum scaling product StarkWare technology, plans to start allocating over 1.8 billion STRK tokens "soon," the foundation said in a tweet on Friday.

StarkWare addresses the main Ethereum blockchain’s slow throughput and transaction fees using ZK rollup technologies that bundle hundreds of transactions off the main blockchain to reduce the computational stress.

In October, the Starknet Foundation earmarked 50 million STRK tokens for a new Early Community Member Program, or ECMP for short.

Some 900 million STRK have been allocated to the foundation’s Provisions Committee to reward past and future contributions by users and community members, Starknet said. A further 900 million tokens have been dedicated to user rebates, it said.

Regarding the user rebates, Starknet said: “Planning for this initiative is currently underway and a new committee is being formed to oversee the distribution of STRK to reward users for their vital transactions on the network.”

StarkNet
Comments

All Comments

Recommended for you

  • The number of first-time unemployment claims in the United States last week was 258,000

    The number of first-time unemployment claims in the United States last week was 258,000, estimated to be 230,000, and the previous value was 225,000.

  • US CPI rose 2.4% year-on-year in September

    The US CPI rose by 2.4% year-on-year in September, with an estimated increase of 2.3% and a previous increase of 2.5%; the US CPI rose by 0.2% month-on-month in September, with an estimated increase of 0.1% and a previous increase of 0.2%.

  • Trump family DeFi project World Liberty Financial raises $300 million at a $1.5 billion valuation

    The Trump family's DeFi project, World Liberty Financial, raised $300 million at a valuation of $1.5 billion.

  • Apex Fusion Completes $6 Million Private Token Funding

    Apex Fusion, the first layer network of the United Multi-Chain, has completed its first private token sale. According to the team, its token ecosystem raised $6 million, with a fully diluted valuation of $180 million. The AF team stated that these funds will be used for marketing and further development of its network composed of Prime, Nexus, and Vector chains. It provides native bridges, interoperability protocols, and developer tools.

  • Web3 gaming ecosystem PiP World raises $10 million in seed funding

    PiP World, a Web3 gaming ecosystem, has secured $10 million in seed funding from fintech company Exinity.

  • ETH breaks through $2,400

    The market shows ETH breaking through $2,400, currently reporting at $2,400.17 with a 24-hour decline of 1.39%. The market is volatile, please be prepared for risk control.

  • BTC breaks through $61,000

    The market shows BTC breaking through $61,000, now reporting at $61,003.05 with a 24-hour drop of 1.96%. The market fluctuation is significant, please exercise caution in risk control.

  • South Korea’s financial regulator may lift the ban on spot cryptocurrency ETFs

    The Block reported that the Financial Services Commission (FSC) of South Korea recently stated that it will re-evaluate the ban on spot cryptocurrency ETFs and institutional accounts trading on cryptocurrency exchanges. This news marks a significant shift in regulatory attitudes towards digital assets. It is reported that the newly established cryptocurrency committee of the FSC will review the current ban. Previously, South Korean lawmakers have been calling for a change in the status quo, and both the ruling Democratic Party and the opposition party promised to approve local spot Bitcoin ETFs in this year's early elections. Since 2018, institutional investors in South Korea have been effectively banned from opening trading accounts on cryptocurrency exchanges. This policy adjustment may open up new channels for institutional investors to participate in the cryptocurrency market. At the same time, FSC Chairman Kim Byung-hwan stated that he will investigate the monopoly structure of South Korean digital asset exchanges. Data shows that among the five exchanges in South Korea that have obtained full licenses, Upbit processed more than 1.17 billion US dollars in trading volume in the past 24 hours, accounting for more than 61% of the market share. In March of this year, its monthly average market share soared to 80%. Legislator Lee Kang-ik also expressed concern about the financial relationship between Upbit and its partner bank K-bank. He pointed out that Upbit's deposits account for 20% of K-bank's total deposits, warning that if the cooperation between the two is interrupted, it may cause a run risk.

  • Nigerian regulator pledges to crack down on cryptocurrency fraud

    Nigerian Securities and Exchange Commission (SEC) has vowed to crack down on fraud, money laundering, and market manipulation in the cryptocurrency industry. SEC Director-General Emomotimi Agama emphasized the importance of educating investors. Lagos State Governor Babajide Sanwo-Olu expressed support for regulating the cryptocurrency industry.

  • Cointime精选 ·

    Synthetix Quarterly Report — Q3 2024

    Over the past few months, the Synthetix Protocol has undergone significant developments and faced a range of challenges as it continues to expand and evolve. In this report, we will explore some of the key highlights, such as the successful migration to V3, new market launches, and governance updates. We’ll also dive into the challenges that have surfaced, particularly around liquidity, integration delays, and governance complexities. Let’s take a closer look at both the achievements and obstacles during this transformative period.

    Synthetix Quarterly Report — Q3 2024

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company