Various airdrops swarmed in this year, and the long-awaited zk-rollup L2 blockchain Starknet, has finally launched its native token.

Distribution will be through Starknet Foundation's Provisions program, with over 700M $STRK tokens to be airdropped in the first round. The airdrop and token went live on 2/20, and the claim period will last 4 months until June 20.

In this week's Cryptosnap, Dr. DODO will walk us through the details of Starknet's token airdrop and potential opportunities in its ecosystem.

Starknet Airdrop Rules

The Starknet airdrop sunlight reaches far and wide. It not only targets Starknet community users, but also Ethereum stakers and StarkEx dApp users, and even grants tokens to GitHub open source contributors outside of web3. Addresses that meet the criteria can claim $STRK airdrop rewards at provisions.starknet.io.

1. Starknet ecosystem supporters and users:

   1. Developers and users will automatically qualify based on retrospective activities (51.33%)

   2. Starknet community members and developers (11.19%)

   3. StarkEx dApp users (9.62%)

2. Ethereum builders and stakers:

   1. Ethereum development contributors (3.77%)

   2. Ethereum stakers (21.99%)

3. Non-web3 open source developers (2.12%): Based on GitHub project contributions

Source: https://provisions.starknet.io/

Starknet Tokenomics

The Starknet governance token $STRK has a total supply of 10B. In the token distribution, 50.1% of the tokens will be managed by the Starknet Foundation to fund developer incentives, ecosystem project incentives, community expenses, reserves, etc. The current airdrop comes from the foundation's share.

The specific token allocation rules are as follows:

1. 17% — StarkWare investors

2. 32.9% — Core contributors

3. 50.1% — Starknet Foundation

   1. 12% — Grants incentives for Starknet protocol R&D

   2. 10% — Strategic reserves

   3. 9% — Community allocation for Starknet contributors

   4. 9% — Community rebate (subsidizing costs of migrating from Ethereum to Starknet)

   5. 2% — Donations to prestigious institutions and organizations

   6. 8.1% — Yet to be allocated

Source: https://medium.com/starkware/part-3-starknet-token-design-5cc17af066c6

Starknet Ecosystem

With the launch of $STRK, the Starknet Foundation will also provide 40M $STRK as ecosystem incentives. $STRK tokens will first be distributed to projects every 2 weeks for a total of 6-8 months, and projects will then distribute to users per their rules. Therefore, readers who missed the first airdrop need not worry. It's not too late to participate in the ecosystem and earn the next phase of airdrops. Also, as most Starknet ecosystem projects are not yet tokenized, it is very likely to get double dip rewards.

nostra.finance

The first ecosystem project is the lending and DEX protocol Nostra launched by the fixed-rate protocol Tempus team. It currently tops Starknet with $27.32M TVL and is running a points campaign - users can earn points for providing DEX liquidity or lending/borrowing on the platform.

Ekubo

Ekubo is the top DEX on Starknet by trading volume. It once obtained an investment proposal approval from Uniswap DAO but later voluntarily gave up. Ekubo is designed with reference to Uniswap v3 with concentrated liquidity AMM pools and also has a points campaign for providing liquidity.

avnu.fi

AVNU is an aggregator protocol on Starknet, aiming to provide better pricing, zero slippage, MEV protection and gasless trades for Starknet transactions via off-chain RFQ and on-chain DEX aggregation.

JediSwap

Dope Wars

Dope Wars is a StarkNet native Loot-style game, built with Dojo engine and co-created by Cartridge team. Their current flagship is Roll Your Own, a whole-chain remake of the classic game Drug Wars where players can buy and sell goods for arbitrage. Version 1 has PVE hijacking but later versions will shift to PVP battles.

Dope Wars has also migrated its governance token $Paper to Starknet mainnet with liquidity deployed.

Realms.World

Realms is another whole-chain game on Starknet, developed by Bibliotheca DAO. It originated as a derivative of Loot NFTs but has pivoted to build its own games like Loot Survivor and Realms: Eternum.

Loot Survivor is a survival game battling monsters. Realms: Eternum is an actively developed game reminiscent of Civilization - players need to hold at least 1 Realms NFT to play, acting as lords building nations and armies to conquer more territories.

Author's Perspective

Starknet is undoubtedly one of the most technically advanced L2 teams, even beating fellow zk-rollup chain zkSync to be the first to issue tokens. It is currently the only zk L2 chain with clear staking incentives, getting an early lead before Ethereum's Shanghai upgrade. Starknet ecosystem projects have been rather quiet due to most not having a token yet. Users so far are mainly airdrop hunters. But this could change with post-launch ecosystem incentives. $STRK incentives can boost ecosystem project APRs, coupled with token airdrops, Starknet TVL could see further growth.