Fairies 🧚‍♀️

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 of Starknet depends on this. With that, we’re excited to share the next steps of our journey ahead together. TLDR: We have plans to allocate over 1.8bn STRK tokens across multiple initiatives to drive the adoption and growth of the Starknet blockchain. The first is about to start soon. 1/ Provisions Committee & Initial Distribution of STRK The Provisions Committee has been allocated 900M STRK for the fair, decentralised and transparent distribution of STRK over multiple programs and phases. 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. 2/ Network Rebates in STRK Additionally, we’ve dedicated another 900M STRK to user rebates. Planning for this initiative is currently underway and a new committee is being formed to oversee the distribution of STRK to reward users for their vital transactions on the network. This marks a bold step in valuing and empowering our user community by rebating them for their transaction fees on the network. 3/ On-Chain Incentives for DeFi We’ve allocated an initial 50M STRK to explore the direct, indirect and retroactive incentivisation of activity on DeFi protocols by boosting liquidity, volume traded and general growth of the DeFi landscape on Starknet. This is led by the DeFi Committee. They are nearing the end of their research phase and will move into execution and deployment in Q1 2024. 4/ And more! Next week, we’ll be announcing an innovative new incentive mechanism for developers & dapps on the network. This is all we can reveal for now, stay tuned for our update next week. * Eligibility to receive STRK tokens will be subject to terms & conditions.