The Starknet Foundation has disclosed how it plans to distribute STRK ($STRK), the native token, to the nearly 1.3 million wallets that satisfy the requirements for rewards.

Early adopters of ecosystem decentralized applications (dApps), network contributors, and EIP developers are among those who qualify; these are all described here.

Using a ZK-Rollup solution, Starknet functions as an Ethereum Layer-2 network, enabling the scalability of decentralized applications (dApps). The foundation claims that the token will be essential to decentralizing and managing the network.

“The STRK Token was created to enable more decentralized STARK-based scaling. According to Diego Oliva, CEO of the Starknet Foundation, “Provisions is a potent means to achieve this, and the token design helps Starknet to be run and managed by the community.”

About 1.297 million wallets will be able to claim the $STRK token starting on February 20, 2024. The claim period will last for four months, ending on June 20, 2024. More than 700 million $STRK tokens are distributed in total, making up 7% of the 10 billion token supply.

“We’re happy that many of those who interacted with StarkEx-powered dApps like dYdX, ImmutableX, RhinoFi, and Sorare are being recognized today,” said core contributor Eli Ben-Sasson, the cryptographer who co-invented the technology behind Starknet. “Members of the community have been battle testing STARK-based technology since StarkEx went live in 2020.”

The token can be claimed by early adopters of Starknet and StarkEx as well as Ethereum contributors like Protocol Guild members, Ethereum Improvement Proposal (EIP) writers, and lone stakers. Moreover, the token distribution is open to open-source developers who are not affiliated with the Web3 ecosystem.

Here is the token distribution:

• 1.3 million addresses
• 50% of the token distributed to Starknet users
• Ethereum stakers until the Merge
• EIP authors
• Protocol guild members 

NB: All fees for claiming STRK via the Provisions portal will be covered by the Starknet Foundation to ensure maximum ease for those eligible for STRK.

Based on a snapshot taken in November 2023, user eligibility for the distribution was established by taking into account the volume of transactions and the frequency of user interactions with the network. Among the requirements were:

• A cumulative value transacted of at least $100
• Involvement in over five transactions
• Activity occurring in distinct time intervals

More than 600,000 StarkEx wallets and more than 500,000 Starknet wallets are eligible to receive the token overall from the distribution. Additionally, 19,000 ETH holders and about 137,000 open-source developers are eligible to receive part of the distribution.