Starknet, a highly anticipated Ethereum layer-2 solution, launched its STRK token and airdrop on February 20, distributing millions of STRK tokens.
Starknet, a highly anticipated Ethereum layer-2 solution, launched its STRK token and airdrop on February 20, distributing millions of STRK tokens, attracting immense user interest while simultaneously igniting controversy.
The airdrop allocated 700 million STRK tokens to various participants, including Ethereum stakers, Starknet developers, and external projects. Within hours, over 220 million tokens were claimed, highlighting investor enthusiasm. While the token's price initially traded up to a high of $3.45, it has since declined to $2.06 currently. STRK is currently valued at a market capitalization of around $1.5 billion, and the total value locked on the protocol remains at $57 million.
However, controversy overshadowed the excitement. Many in the community have accused Starknet developers of including "airdrop hunters" in the eligibility list, despite prior warnings. These individuals aim to profit by claiming tokens across multiple addresses. Some alleged that hundreds of thousands of potentially manipulated addresses were included, sparking concerns about fairness. This has also led to airdrop farmers submitting Github issues on other tokenless chains, such as Scroll.
This accusation echoes the community sentiment about airdrop hunters potentially exploiting Starknet's eligibility criteria, after many users that had interacted with Starknet were left with no allocation. Meanwhile, a large number of wallets were reportedly linked to repeated Github accounts which qualified for the developer criteria, raising questions about the token's true distribution and community engagement.
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