1.8 Billion STRK Tokens Distribution Plan Revealed By Starknet Foundation

Key Points:

• The Provisions Committee will oversee the initial distribution of 900 million STRK tokens, aiming to distribute ownership and reward contributions from users and community members.
• Another 900 million STRK tokens will be dedicated to user rebates, and a new committee will be formed to oversee their distribution, rewarding users for their transactions on the network.

Starknet Foundation has officially announced STRK tokens distribution plan to promote adoption and growth. Provisions Committee to oversee initial distribution and user rebates, while DeFi Committee focuses on incentivizing DeFi activity.

The Starknet Foundation has announced its plans to allocate over 1.8 billion STRK tokens across multiple initiatives to promote the adoption and growth of the Starknet blockchain.

The first phase of the token distribution will be overseen by the Provisions Committee, which has been allocated 900 million STRK tokens.

The committee’s objective is to distribute ownership of the network’s native token and reward past and future contributions from users and community members. The distribution process is nearing completion, and more details will be shared soon.

In addition to the Provisions Committee, another 900 million STRK tokens have been dedicated to user rebates. A new committee will be formed to oversee the distribution of STRK tokens as rebates, rewarding users for their transactions on the network.

Starknet Foundation Announces STRK Tokens Distribution Plan

The Starknet Foundation has also allocated an initial 50 million STRK tokens for on-chain incentives in the DeFi space.

Led by the DeFi Committee, this initiative aims to incentivize activity on DeFi protocols, boost liquidity, increase volume traded, and foster general growth of the DeFi landscape on Starknet.

The DeFi Committee is currently in the research phase and expects to move into execution and deployment in Q1 2024.

Furthermore, the foundation will soon announce an innovative new incentive mechanism for developers and dapps on the network. Details about this mechanism will be shared in an upcoming update.

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