Is the Starknet Token Distribution Finalized?

Crypto Security and Scams

The Starknet Foundation has moved quickly to address the rumors that were sparked by screenshots of early iterations of a distribution portal for the upcoming launch of its native STRK ecosystem token.

Cointelegraph was informed ahead of an announcement on X (formerly Twitter) that the foundation is still planning how to distribute the token to certain users, contributors and investors. In July 2022, the Ethereum layer-2 scaling network had initially revealed its plans for the Starknet token design.

The screenshots that were shared online were labeled as “draft plans that are still under development.” A spokesperson from StarkWare told Cointelegraph that details of the official criteria and the provision mechanism for STRK tokens will be shared once the company has finalized them.

The company also warned the community to be aware of crypto scams that may take advantage of any uncertainty around the STRK token distribution.

Crypto Scams and Token Allocations

A number of different X users reposted screenshots of the early iterations of the Starknet token provisions portal and further information that alluded to certain requirements to receive STRK tokens. This caused some confusion as the information conflicted with the initial distribution plans shared by StarkWare in 2022.

Another image circulated online containing missing text and spelling errors intimates that GitHub developers, early Ethereum adopters and stakers, as well as Starkex users, could also be eligible for STRK tokens under certain criteria.

StarkWare’s initial post outlining plans for the STRK tokens notes that 10 billion tokens have been minted off-chain. This includes a disclaimer noting that STRK tokens do not represent equity in StarkWare, participatory rights in StarkWare or any right of claim from the company.

The initial plans for token allocation noted that 17% would go to StarkWare investors and 32.9% to core crypto contributors, including StarkWare employees, consultants and Starknet developer partners. The remaining 50.1% was granted to the Starknet Foundation and is earmarked to be distributed in a variety of instances, as per the screenshot below:

Starknet had previously underlined that emphasis should be placed on developers of core infrastructure, decentralized applications (DApps) as well as other crypto security contributors.