Starknet DeFi Spring Launched With 40 Million STRK Giveaway

Key Points:

• Starknet Foundation and OpenBlock launched Starknet DeFi Spring with 40 million STRK tokens.
• The program runs until October 2024 with bi-weekly token distribution.
• Protocols create incentive programs, with first rewards claimable from February 22 to March 7, 2024.

Starknet Foundation and OpenBlock launch Starknet DeFi Spring, distributing 40 million STRK tokens to participating DeFi protocols until Oct 2024.

The Starknet Foundation, in partnership with OpenBlock, recently announced the launch of Starknet DeFi Spring, a significant event in the world of decentralized finance (DeFi).

Starknet DeFi Spring: 40 million STRK rewards for projects

The program is a six-to-eight-month plan in which a staggering 40 million STRK tokens will be distributed to participating DeFi protocols on Starknet.

The distribution of agreements will take place every two weeks. At the end of each cycle, assignments are determined based on a thorough review of network activity and the compliance and performance of participating protocols.

Starknet DeFi Spring will run until October 2024 and aims to cover eligible protocols in DEXs (Decentralized Exchanges) and the broader DeFi ecosystem. Each participating protocol will design, announce, and execute incentive programs to reward their platform users with STRK allocations.

Readmore: Layer 2 Starknet STRK Token Prepares For Upcoming Massive Airdrop

How to participate in Starknet DeFi Spring and earn STRK tokens

Participation in the protocol means that all STRK received will be distributed to users. Each protocol will be responsible for its own allocation of STRK and may have different plans for how and which users can earn STRK.

The first round of protocol participation will kick off its program on February 22, 2024, with users given until March 7, 2024, to claim reward distributions from the protocol.

The Foundation previously announced its distribution plan for its native token, STRK, revealing that nearly 1.3 million wallets would be eligible for rewards. The airdrop aimed to distribute 728 million tokens, allowing users until June 20 to claim their share.