The Ethereum layer-2 blockchain Starknet extended its eligibility of the first round of Starknet provisions to two sub-categories of users that previously had trouble claiming STRK tokens.
The Starknet Foundation — the organization supporting the Starknet network — straightended out concerns around the eligibility of some pre-Merge ETH stakers and Immutable X users for February’s Starknet (STRK) airdrop after a thorough review of the situation. The company extended its eligibility of first round of Starknet provisions to eligible VeVe users, Non-VeVe StarkEx users who were previously identified as VeVe users and pooled stakers.
The fresh batch of users eligible for the February airdrop can begin claiming their STRK in April, according to a note shared with Cointelegraph.
Starknet said a list provided by Immutable showed self-custody IMX addresses and wallets associated with users of the nonfungible token (NFT) platform VeVe was inaccurate, with many Immutable X users being mistakenly classified as VeVe users.
The list was supposed to help differentiate between the two groups. VeVe holds its users’ private keys, and airdrop-eligible VeVe users would not have had the information needed for the claims process, so Starknet airdropped the token through the NFT platform.
With the list now fixed, Immutable X users who performed eight or more transactions before June 1, 2022, can now claim their airdrop.
Starknet is still discussing airdrops for VeVe users with the VeVe team.
There was also an issue for pooled ETH stakers, with the staking protocols unable to airdrop STRK to those eligible — something Starknet said could be traced back to several causes.
Some staking protocols have given Starknet a list of users eligible to claim their airdrop starting in April.
The updated airdrop schedule is yet another change by Starknet, which changed its unlock schedule in February after concerns that the original plan allowed investors to dump their holdings on retail users.
Early contributors and investors got lumped together with smaller and spaced-out STRK distributions over three years instead of a larger drop scheduled for April.
STRK’s airdrop was also widely criticized by Starknet users who claimed they were ineligible despite having made thousands of dollars worth of transactions but missed out due to eligibility criteria mandating the need to hold at least 0.005 ETH — worth about $10 — at the time of a snapshot on Nov. 15, 2023.
Soon after STRK’s Feb. 20 airdrop, large STRK holders dumped tokens worth millions and its price fell 60% from its $4.40 peak to $1.90 in a little over two days. The price of STRK has struggled to recover and is currently trading at $1.88, according to CoinGecko data.
The price of STRK has struggled to regain ground following its February airdrop. Source: CoinGecko
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Recommended Content
Editors’ Picks
XRP eyes $0.6640 as Ripple CEO tips Trump to fire Gensler on first day in office
Ripple's XRP is up over 5% on Wednesday and could extend its rally to $0.6640 as the Securities & Exchange Commission may not file its appeal brief against the company due to Donald Trump's presidential election victory.
What's next for Bitcoin and Crypto industry following Trump's victory in US Presidential election
The 2024 US presidential election ended with pro-crypto advocates leading the House of Representatives, the Senate, and Donald Trump as the president-elect. The results stirred massive celebration across the crypto industry, with Bitcoin and the crypto market rallying following Trump's win.
Crypto Today: All Bitcoin holders in profit, TRON partners with Chainlink, DOGE miners in $145M buying spree
Bitcoin price reached a new all-time high of $75,120 on November 6 as markets reacted to Donald Trump’s victory in the 2024 US presidential election. The global cryptocurrency sector valuation grew by $190 billion within the daily time frame as bullish momentum spilled over into the altcoin market.
Coinbase’s Paul Grewal urges SEC to embrace change on crypto after Trump's victory
Paul Grewal, Coinbase's Chief Legal Officer, has asked the US Securities & Exchange Commission to reconsider how it regulates cryptocurrencies now that Donald Trump has been elected to a second term as president.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.