Over $3 Million in STRK Tokens Distributed to An Airdrop Hunter Through 1,361 Wallets

Ethereum rollup Starknet has set the stage for what is being hailed as the most substantial airdrop of the year, distributing a staggering 728 million STRK tokens to approximately 1.3 million addresses. The initiative has caught the attention of the crypto community, with the potential airdrop of a hunter reportedly receiving 1,432,800 STRK tokens, valued at around $3 million, through 1,361 wallets.

The distribution process, detailed by Lookonchain, revealed that after the airdrop, these 1,361 wallets swiftly transferred the tokens to the address 0x027c…719078.

The impressive scale of this airdrop is further highlighted by the initial total supply of STRK, which stands at a substantial 10 billion tokens. The fully diluted value (FDV), reflecting the theoretical market capitalization if the entire supply were in circulation, reaches an eye-watering $35 billion. However, the present reality is that the actual market capitalization, calculated by multiplying the current circulating supply with the current price, sits at a still formidable $2.32 billion.

Breaking down the allocation of STRK tokens, 50.1% of the supply has been earmarked for the Starknet Foundation, dedicated to community airdrops, grants, and donations. Early contributors and investors will receive 24.68% of the total supply, while StarkWare employees, consultants, and developer partners will be allocated 32%.

A unique feature of the token distribution plan is the gradual unlocking of tokens over a 31-month period, starting from April. This measured approach aims to maintain stability and prevent market volatility associated with large token releases.

Starknet’s significance lies in its role as a layer-2 network utilizing zero-knowledge cryptography. This innovative technology enables decentralized applications (DApps) on the Starknet network to scale the Ethereum blockchain efficiently. By bundling transactions off-chain into a proof submitted to Ethereum, Starknet aims to expedite transaction processing, ultimately reducing fees for users.

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