If you’re into airdrops, Starknet is a must-check for one of the most promising airdrops in 2023. Its parent company, StarkWare, has received a whopping $273 million in funding and is currently valued at $8 billion. This season seems to be full of crypto airdrops. We have already published two potential airdrops: Scroll Name Service (SNS) and DeBank
Starknet is now live on its Mainnet, and the tasks for the airdrop are pretty straightforward. You can complete them in just about 20 minutes, depending on how quickly you move. So, let’s take a look at this StarkNet airdrop article in more detail.
StarkNet stands out as a Layer 2 network developed by StarkWare to enhance the scalability of the Ethereum network through Validity Rollups (or Zk Rollups). As highlighted on its website, StarkNet empowers decentralized applications (dapps) to attain unlimited scalability for both transactions and computation, all while benefiting from the robust security features of the Ethereum blockchain.
A key component of their offering is StarkEx, which has gained substantial social validation, as evidenced by its impressive clientele. The permissioned solution serves as the hosting platform for notable clients such as ImmutableX, dYdX, Sorare, ApeX, and Immutable, showcasing the widespread adoption and trust within the industry.
What is $STRK Token?
The deployment of the StarkNet token ($STRK) took place on the Ethereum mainnet on November 16, 2022. Despite being deployed, the tokens are not currently available for sale. Notably, the StarkWare team has maintained a high level of transparency regarding the launch, distribution, and allocation plan of the token.
This information is derived from a blog post on the Medium platform authored by StarkWare, where they detail their approach and plans for the StarkNet token.
Has the $STRK Airdrop Been Confirmed?
On December 8, 2023, Starknet officially announced a 1.8 billion $STRK token airdrop. Despite the confirmation, there is no specified timeline provided. While there’s still an opportunity to participate in the Starknet airdrop, it remains uncertain whether the snapshot has already been taken. Although there might be a risk of it being too late, akin to Solana airdrops, you can explore the possibility of participating in airdrops offered by popular Starknet decentralized applications (dApps).
How to be eligible for Starknet Airdrop?
Starknet is currently operating on its mainnet, providing numerous opportunities to engage with applications that may make you eligible for an airdrop. The process involves bridging funds and engaging with well-known Starknet decentralized applications (dApps), such as decentralized exchanges (DEXs) and NFT marketplaces. It’s a straightforward process, and here are what I consider the most beneficial tasks for maximizing your chances in this potential airdrop:
Create a MetaMask Wallet
For this guide, we’ll require two wallets, beginning with MetaMask. If you haven’t installed it yet, visit the Metamask website to create your wallet. Then, add some Ethereum to it.
Create a Starknet Wallet
Starknet does not operate on the Ethereum Virtual Machine (EVM), so using MetaMask, which is designed for the EVM, is not suitable for most Starknet applications. To interact effectively, you’ll need a specialized Starknet wallet. The top two options for this purpose are Argent and Braavos.
- Visit https://www.argent.xyz/argent-x/ or https://braavos.app/
- Set up your wallet on the same browser/device as your MetaMask
Bridge ETH to Starknet
Bridging to Starknet: Exploring the Pathways
Different Bridges for Starknet:
- Starkgate Bridge
- Orbiter Finance Bridge
- LayerSwap
Now it’s time to transfer some ETH to Starknet using the native bridge, StarkGate. Follow these steps:
1. Visit https://starkgate.starknet.io
2. Connect both your MetaMask and Starknet Wallet.
3. Initiate the process to bridge ETH to StarkGate. Ensure you send enough ETH to cover the gas fees. Transaction costs on Starknet typically range from $0.50 to $3.00.
4. You have the option to bridge ETH directly from the Ethereum Mainnet. Alternatively, if you want to minimize gas fees, you can also bridge the ETH mentioned with the help of the above-mentioned bridges.
Utilize the foremost decentralized exchanges (DEXs) on Starknet
Now that we have money on Starknet, let’s use some popular apps. Decentralized exchanges are an easy way to do things on the blockchain, and that’s what we’re aiming for to get airdrops. According to DeFi Llama, here are the biggest decentralized exchanges on Starknet:
- Ekubo
- MySwap
- Jediswap
- 10kswap
Head to these decentralized exchanges (DEXs), connect your wallet, and exchange tokens on each platform. You have the flexibility to swap any token and any amount, as many times as you like. Additionally, consider adding liquidity to the pools and withdrawing it.
By following these steps, you can accumulate at least 5-10 transactions in your wallet or even more, providing a solid beginning. For optimal airdrop rewards, return every 30 days or more and perform similar tasks.
Anticipating the STARK Airdrop: Unveiling the Plans for 2024
The STARK Airdrop is on the horizon, with an impressive allocation of 900 million STRK tokens for transparent distribution across various programs. This implies multiple airdrops, emphasizing a focus on long-term engagement with the network.
The timeframe is expected to be lengthy, so don’t expect the 900 million STRK tokens to be ready for an airdrop next week. This approach encourages sustained engagement with the blockchain.
- 900M STRK for “User Rebates”
- 50M for “On-Chain Incentives for DeFi”
The allocation of 900 million STRK tokens for “User Rebates” suggests a potential refund for ETH spent on gas fees by users. Another 50 million is allocated for “On-Chain Incentives for DeFi,” with direct, indirect, and retroactive incentivization in the decentralized finance (DeFi) space. Protocols are expected to receive tokens, and Yield Farming on Starknet will commence.
Timeframe and Outlook: Q1 2024 and Beyond
The research phase is nearing completion, and execution and deployment are scheduled for Q1 2024. This provides a clear timeline, especially for “On-Chain Incentives for DeFi,” indicating that STRK yield farming will likely begin early next year.
- Developers and Dapps: Anticipating New Announcements
- Subject to Terms & Conditions: Possible Exclusions
For developers and decentralized applications (Dapps), there are imminent announcements. A formal announcement is expected next week. It’s noted that certain terms and conditions may apply, potentially including exclusions for the USA.