Bittime – The launch of the STRK token airdrop by the Starknet Foundation, the support organization of the Starknet network, drew criticism.
Immutable X users and ETH stakers who use staking pools were initially promised to receive tokens last February. However, many failed to claim their allocations due to technical issues.
New Announcement from Starknet Foundation
On March 20, 2024, Starknet made an announcement through its official X account. The announcement is as follows.
"The Starknet Community,
There is good news! For those of you who are waiting for an update regarding STRK token airdrop claim constraints for three user sub-categories, here's the information:
- StarkEx Non-VeVe users identified as VeVe users
- VeVe Users
- Integrated stakers ("pooled stakers")
After a thorough review, we make sure most of the eligible users and stakers in all three categories can claim their STRK tokens starting next April.”
Well, based on the official announcement from the Starknet Foundation above, finally the problem about the STRK airdrop has been resolved.
Eligible users can now start claiming their STRK tokens in the coming April.
One of the main obstacles is the inaccuracy of the list provided by Immutable. This causes many Immutable X users who should have the right to be identified as VeVe users.
With the list fixed, Immutable X users who made a minimum of eight transactions before June 1, 2022, can now claim their airdrop.
Check the Crypto Market Today:
Discussion Continues between Starknet Foundation and Veve
Discussions are still continuing between Starknet Foundation and the VeVe team regarding airdrops for VeVe users. Since the VeVe platform holds the user's private key, a different approach is required.
In addition, Starknet Foundation also addresses the problems faced by ETH stakers who use staking pools.
Previously, the staking protocol had difficulty airdropping STRK to eligible users. Several staking protocols have now submitted a list of eligible users to Starknet, so they can immediately claim tokens starting in April.
The eligibility criteria for receiving STRK airdrops are also in the spotlight. Some Starknet users find the requirements too strict, one of which is the minimum ownership of 0.005 ETH at the time of the snapshot taken on November 15, 2023. For some people, the number is considered too high.
Another controversy that emerged was a massive sell-off by early STRK holders after the first airdrop on Feb. 20.
As a result, the price of STRK plunged 60% from $4.40 to $1.9 in just two days. This drastic price drop raises negative sentiment among the crypto community who are still waiting for their tokens.
With a new claim schedule and solutions to overcome distribution constraints, it is hoped that STRK distribution can run more smoothly in the future.
However, how the long-term impact of this issue on STRK prices and the community's perception of Starknet remains uncertain.
Also Read: Starknet (STRK) Prediction According to Crypto Academy: Will STRK Continue to Soart?
Additional Explanation of STRK Airdrop on Starknet
In addition to information about the new claim schedule, here are some important points to note:
1. Significant STRK Sales
A large sale of STRK by initial holders of the token immediately after the first airdrop on February 20. As a result, the price of STRK dropped drastically by 60% from $4.40 to $1.9 in a short period of time. This sparked negative sentiment among the crypto community waiting for their tokens.
2. Claims Requirements that are Considered Strict
Some Starknet users feel the eligibility criteria for receiving an airdrop are too strict. One of the requirements requires users to have a minimum of 0.005 ETH at the time of snapshot taking on November 15, 2023, which is considered too high by some people.
3. The Future of STRK
The token's still low price and complicated initial distribution issues have some doubted STRK's long-term outlook. However, the latest improvements to the claim process and clarification are expected to restore investor confidence and encourage future STRK price increases.
4. Competition in the Layer-2 Realm
Starknet faces stiff competition in the realm of Layer-2 blockchain. Other players such as Polygon and Arbitrum also offer attractive scalability solutions for developers and users. STRK's ability to deliver competitive utility and long-term value will largely determine its success.
5. Starknet Foundation's Efforts to Build Trust
Starknet Foundation's steps in addressing distribution issues and providing a comprehensive explanation are worthy of appreciation. This effort is expected to restore the crypto community's trust in Starknet and the STRK project.
With the new claim schedule and solutions to overcome distribution problems, it is hoped that the STRK distribution process can run more smoothly in the future.
However, how the long-term impact of this issue has on STRK prices and the community's perception of Starknet remains to be seen.
Also read How to Buy Crypto:
How to Buy Starknet (STRK) on Bittime
You can buy and sell Starknet (STRK) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered with Bappebti.
Starknet (STRK) is available on Bittime with the STRK/IDR market pair. To be able to purchase STRK IDR at Bittime make sure you have registered and completed identity verification. In addition, also make sure if you have enough balance by depositing a certain amount of funds into the wallet. For your information, the minimum purchase of assets on Bittime is Rp10,000. After that, then you can buy crypto assets in the application.
Learn the complete guide on how to buy Starknet (STRK) on Bittime.
Monitor the price chart movements of Starknet (STRK), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptocurrencies to find out today's crypto market trends in real-time on Bittime.
Also Read:
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DISCLAIMER: This article is informational and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. The price of crypto assets is volatile, where the price can change significantly over time and Bittime is not responsible for changes in fluctuations in the exchange rate of crypto assets.
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