StarkNet Foundation Set to Allocate 1.8B STRK Tokens for User Rebates and Provisons’ Committee
The Starknet Foundation has unveiled plans to distribute 1.8 billion STRK token rewards and rebates to drive the adoption and growth of the Starknet blockchain.
While specific distribution plan details are not provided, the Foundation intends to involve various committees to oversee the overall allocation of the L2 tokens.
In a December 8 announcement on X (formerly Twitter), the Foundation highlighted the role of the “Provisions Committee,” a distinct committee within its ecosystem, in managing the distribution of rewards to users and community members. It added:
“The committee’s objective is to distribute ownership of the network’s native token and to reward past and future contributions by users and community members. We’ve been working on the first phase of distributions for a while now, and we are close to getting this over the line. There’ll be more formal communications on this soon.”
Now that the news is out, we might as well tell you more!
Starknet is about each of you. Every user, builder and member of our community – existing and future – is a critical piece to building our network into the future of decentralisation for generations to come. The success…
— Starknet Foundation (@StarknetFndn) December 8, 2023
The committee will disburse 900 million STRK tokens in stages to acknowledge both past and future contributions made by users and community members. This distribution phase is set to commence in the first half of 2024.
In addition to this allocation for user rewards, an equivalent amount has been designated for user rebates.
The Foundation revealed that a new committee dedicated to overseeing the distribution of STRK is in the process of formation. This committee will focus on rewarding users for significant
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