The Starknet Foundation has decided to recognize and reward the early contributors to its network by giving them 50 million STRK tokens. These tokens, however, will not be tradable until April 2024. Starknet is a Layer-2 blockchain network built on top of Ethereum that aims to improve scalability and reduce costs while maintaining security. The foundation was established in November 2022 by StarkWare, the initial developer of Starknet, who minted 10 billion STRK tokens. The foundation's goal is to support the growth and development of the Starknet ecosystem. To acknowledge the contributions of early community members, the foundation launched the Early Community Member Program (ECMP), which compensates individuals who have played a significant role in shaping the ecosystem through discussions, events, and content creation related to Starknet. The foundation was allocated 50.1% of the minted STRK tokens, with 32.9% going to contributors and 17% to investors. The distribution of tokens through the ECMP aims to maintain and expand the network's community. Currently, Starknet ranks sixth among Layer-2 blockchain networks on Ethereum, with $137 million locked in deposits. The release of the STRK token, originally scheduled for November 29, 2023, has been postponed to April 15, 2024, by StarkWare.
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