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The official Starknet Ethereum address made seven cross-chain transactions ahead of the anticipated launch of STRK, the protocol’s native token expected by Q2 2024.&nbsp; 
Starknet transferred less than three STRK tokens between Ethereum’s mainnet and the project’s layer-2 network, per data seen on block explorer Starkscan. The action was likely part of an on-chain test exercise for the Ethereum-based scaling solution before developers rolled out the ERC-20 cryptocurrency. 
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 STRK test transactions | Source: <a href="https://starkscan.co/token/0x04718f5a0fc34cc1af16a1cdee98ffb20c31f5cd61d6ab07201858f4287c938d#transfers" target="_blank" rel="noreferrer noopener">Starkscan</a>
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The transactions for users and network participants indicate progress toward STRK’s launch, which may accompany an airdrop and community rewards. The Starknet Foundation revealed 1.8 billion STRK tokens <a href="https://crypto.news/starknet-reveals-1-8b-token-distribution-plan/">earmarked</a> for its distribution plan in December last year.&nbsp; 
Half that amount was designated network rebates to reward users already transacting on the L2 chain, crypto.news noted. Beneficiaries of the Early Community Member Program are also set to <a href="https://crypto.news/starknet-to-distribute-50m-strk-tokens-between-early-adopters/">receive</a> a portion of some 50 million STRK coins when the token is released. 
 You might also like: <a href="https://crypto.news/starknet-community-approves-strk-for-transaction-fees/"> Starknet community approves STRK for transaction fees </a> 
Furthermore, STRK is set to onboard additional utilities following a pivotal community vote on Jan. 8. Delegates approved <a href="https://crypto.news/starknet-community-approves-strk-for-transaction-fees/">STRK</a> as a valid transaction fee payment currency in a two-token gas structure alongside Ether (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>).&nbsp; 
According to a Starknet Foundation committee, STRK should launch by April 2024, barring any delays or technical hiccups. Built by Israeli-based blockchain startup Starkware Industries, the L2 network deploys zero-knowledge rollup technology to scale Ethereum’s network.&nbsp; 
The idea is to decongest Ethereum’s mainnet by providing an alternative transaction chain with cheap fees and faster settlement while retaining on-chain security and transparency. Starknet had over $169 million in total value locked as of Jan. 15, <a href="https://l2beat.com/scaling/projects/starknet" target="_blank" rel="noopener">L2Beat</a> confirmed.&nbsp; 
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 Now that the news is out, we might as well tell you more! Starknet is about each of you. Every user, builder and member of our community – existing and future – is a critical piece to building our network into the future of decentralisation for generations to come. The success…— Starknet Foundation (@StarknetFndn) <a href="https://twitter.com/StarknetFndn/status/1733101666357100992?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 8, 2023</a>
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 Read more: <a href="https://crypto.news/new-cryptocurrencies-to-watch/"> New cryptos to watch in 2024: what crypto narratives could explode </a>

Starknet L2 initiates test transactions from Ethereum mainnet

crypto.news

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