StarkNet Foundation Set to Allocate 1.8B STRK Tokens for User Rebates and Provisons’ Committee


StarkNet Foundation Set to Allocate 1.8B STRK Tokens for User Rebates and Provisons’ Committee

The StarkNet Foundation has set aside 1.8 billion STRK Tokens to be used for user rebates and provisions through its global infrastructure. The STRK Tokens, which are Ethereum-based tokens, are the native cryptocurrency of the Stark Network, an Ethereum-based scaling solution designed to make the blockchain more efficient, and will be available to users at a discount as part of the provisioning process.

The 1.8 billion tokens are divided between two main components: A rebate program for users and an allocation set aside for the recently formed token Provisons Committee. The rebate program will enable users to receive a set percentage back on transactions conducted over the Stark Network when a certain amount of STRK Tokens are used to complete the transaction. The Provisons Committee will be tasked with managing the allocated STRK Tokens for future use to finance research and development initiatives related to the network.

The Stark Network is an open and permission-less blockchain network built on the Ethereum blockchain and is designed to solve the scalability issues that plague public blockchains today. By increasing the speed and throughput of transactions, the network reduces block time and latency while increasing the security of transactions. This makes the Stark Network an ideal solution for businesses that want to use blockchain technology without sacrificing speed or functionality.

The announcement of the 1.8 billion STRK Tokens marks a major milestone for the network as it furthers the commitment to incentivizing users and improving the experience of the Stark Network. With this allocation, the Foundation is continuing to demonstrate its commitment to improving the scalability of the network while simultaneously rewarding long-term users of the network. This commitment to long-term value has not gone unnoticed by the industry as the network continues to gain traction and attract more users.