Analysis of Starknet Airdrop and Its Ecosystem

As this year witnesses a surge in airdrops, the much-anticipated heavyweight zk L2 blockchain Starknet has finally launched its native token. The distribution will be carried out through the Starknet Foundation’s Provisions program, with the first round airdrop totalling over 700 million $STRK tokens. The airdrop and token went live on February 20th, with the claiming period lasting for four months until June 20th. This week, Cryptosnap Dr. DODO will delve into the details of the Starknet token airdrop and explore potential opportunities within the Starknet ecosystem!

Starknet Airdrop Rules

The Starknet airdrop is distributed extensively not only to Starknet community users but also to Ethereum stakers and users of dApps utilizing StarkEx. Additionally, tokens are being airdropped to non-Web3 domain GitHub contributors. Eligible addresses can claim their $STRK airdrop rewards at provisions.starknet.io.

1. Starknet ecosystem supporters and users:
   1. Developers and users will automatically qualify based on retroactive activity (51.33%)
   2. Starknet community members and developers (11.19%)
   3. StarkEx dApps users (9.62%)
2. Ethereum builders and stakers:
   1. Ethereum development contributors (3.77%)
   2. Ethereum stakers (21.99%)
3. Non-Web 3 open source developers (2.12%): based on GitHub project contributions

Source: https://provisions.starknet.io/

Starknet Token Economy

The total amount of Starknet governance token $STRK is 10 billion, and 50.1% of the token distribution will be managed by the Starknet Foundation and will be used for developer rewards, ecological project incentives, community spending, and reserves. This airdrop is Shares are issued by the foundation.

The specific token distribution rules are as follows:

1. 17% — StarkWare Investor
2. 32.9% — Core Contributor
3. 50.1% — Starknet Foundation
   1. 12% — Grant to fund research and work to develop, test, deploy, and maintain the Starknet protocol
   2. 10% — Strategy Reserve
   3. 9% — Community allocation for people who work on Starknet and provide support or development for its underlying technology
   4. 9% — Community rebate (used to partially cover the cost of joining Starknet from Ethereum)
   5. 2% — Donate to highly respected institutions and organizations
   6. 8.1% — shares not yet allocated

Source: https://medium.com/starkware/part-3-starknet-token-design-5cc17af066c6

Starknet Ecology

With the launch of the $STRK token, the Starknet Foundation will also provide 40 million $STRK as incentive funds for ecosystem projects. These $STRK tokens will be distributed to project teams first, with distributions occurring every two weeks over 6-8 months. The project teams will then distribute the tokens to users based on their respective activity rules. Therefore, readers who missed the first round of airdrops need not worry. There is still time to participate in the ecosystem to qualify for the next phase of airdrop rewards. Moreover, since most Starknet ecosystem projects have yet to launch their tokens, there is a high possibility of receiving double or even more airdrop rewards with one action.

nostra.finance

The first ecosystem project to introduce is the lending and DEX protocol launched by the Fixed-Rate Protocol Tempus team. Currently, its TVL (Total Value Locked) ranks first on Starknet, reaching 27.32 million. The protocol is also conducting a points-based activity, where users can earn points by providing liquidity on the DEX or borrowing and lending on the platform.

The road

Ekubo is the leading AMM (Automated Market Maker) DEX (Decentralized Exchange) protocol on the Starknet chain in terms of transaction volume. It previously received investment proposals from the Uniswap DAO but later voluntarily withdrew. Ekubo is designed based on Uniswap v3 and operates as a concentrated liquidity type of AMM pool. Currently, there are also point-based activities where users can earn rewards by providing liquidity.

avnu.fi

AVNU is an aggregator protocol on the Starknet chain with the aim of offering better pricing, zero slippage, MEV protection, and gasless transactions for trades on the Starknet chain. It achieves this by utilizing an RFQ (Request for Quote) off-chain matching mechanism along with DEX aggregation to provide users with the best quotes.

JediSwap

JediSwap is another AMM DEX protocol on Starknet, developed by the Mesh Finance community. It was one of the earliest dApps to go live on Starknet’s mainnet, debuting towards the end of 2022, and was once a leader in trading volume. However, it has since been surpassed by Ekubo and Nostra.

Dope Wars

Dope Wars is a fully on-chain Loot-style game based on StarkNet, developed using the Dojo engine with Cartridge team as the core contributors. The flagship game under the team’s banner is Roll Your Own, inspired by the classic game Drug Wars, which is a omnichain game where players can buy and sell products, engage in arbitrage, and participate in PvE robbery mechanics in the current version, with plans to transition to PvP as development progresses, enhancing player interaction and competition. Dope Wars has migrated its governance token, $Paper, to StarkNet mainnet for liquidity deployment.

Realms.World

Realms is another omnichain game built on StarkNet, developed by Bibliotheca DAO. Initially derived as a spin-off of the Loot NFT, Realms evolved to become an independent game within the Loot ecosystem. Currently, it features two games: Loot Survivor and Realms: Eternum.

Loot Survivor is a survival game where players battle monsters, accumulating experience points to upgrade attributes. “Realms: Eternum”, on the other hand, is the flagship omnichain game developed by Realms, resembling a sandbox strategy simulation game akin to “Civilization.” Players need to own at least 1 Realms NFT to play, where they establish nations as lords, build armies, and conquer more land through colonization and looting.

Author’s opinion

Starknet is undeniably one of the leading teams in the L2 blockchain space, taking a step ahead of other zk rollup solutions like zkSync by launching its token. It has positioned itself as the primary target among zk rollup L2 chains in the current market and has strategically positioned itself for the upcoming Ethereum upgrade. However, in terms of ecosystem development, Starknet’s projects have mostly remained in a dormant state, with the majority yet to release their tokens. Consequently, most users have been primarily focused on airdrop opportunities. Nevertheless, this situation is expected to change with the introduction of ecosystem incentives post-token launch. With increased incentives in the form of $STRK rewards and ecosystem token airdrops, Starknet’s Total Value Locked (TVL) is poised for further growth.

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