StarkNet Foundation Set to Allocate 1.8B STRK Tokens for User | Crypto Land

StarkNet Foundation Set to Allocate 1.8B STRK Tokens for User Rebates and Provisons’ Committee

The Starknet Foundation has unveiled plans to distribute 1.8 billion STRK token rewards and rebates to drive the adoption and growth of the Starknet blockchain. While specific distribution plan details are not provided, the Foundation intends to involve various committees to oversee the overall allocation of the L2 tokens.

In a December 8 announcement on X (formerly Twitter), the Foundation highlighted the role of the “Provisions Committee,” a distinct committee within its ecosystem, in managing the distribution of rewards to users and community members. It added:

“The committee’s objective is to distribute ownership of the network’s native token and to reward past and future contributions by users and community members. 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 committee will disburse 900 million STRK tokens in stages to acknowledge both past and future contributions made by users and community members. This distribution phase is set to commence in the first half of 2024.