$STRK from Starknet is causing outrage within the community with its Phase 1 airdrop. Is Phase 2 expected to be more promising?
1. What makes the community feel this way?
Currently, there is a perception of unfairness in the Phase 1 airdrop. Those who have interacted with or contributed to #StarkNet before November 15, with allocations ranging dramatically from 500 to a whopping 180,000 STRK, based on their activity levels, BUT others who actively participated in the airdrop received NONE - and this group is very large in number
Many community members feel slighted by the Starknet developers for excluding users who did not have 0.005 ETH at the time of the snapshot, showing disregard for the user community since the beginning.
2. Will Starknet be a successful Layer 2 solution like $ARB and $OP ?
It's worth noting that Starknet is a Tech-focused project, with developers who are mathematics professors and fundamental backers, including investments from #Vitalik . However, a drawback is the absence of a dedicated Business/Marketing team to drive the project's promotion or create hype like other projects such as Jump, Binance, or A16z.
The project has raised substantial funding due to its ground breaking tech ideas, but the valuation is quite high.
STRK/USD pre-launch perpetual futures on Aevo are currently trading at $1.65. This implies a market capitalization of $1.2 billion. This number is calculated by multiplying the circulating token supply (728 million) with the current market price of the contract ($1.65).
The upcoming airdrop of 728 million tokens accounts for nearly 7% of the total supply. Therefore, the pre-listing price of $1.65 implies a fully diluted market capitalization (FDV) of over $16 billion for STRK.
3. The first unlock in just the next 2 months?
There is a big problem with the release of the Starknet token economic model. After releasing 7%+ in the airdrop, an additional 13-15% will be unlocked in two months for Team & Investors, where the chart is sure to look ugly.
Why are these people in such a hurry to exit?
Is it because the VC investment institutions and the team have no confidence in Starknet itself (zk-rollup is a general L2, and it has not yet succeeded, and is about to be eliminated by the industry paradigm iteration), or is it because the team’s financial actuary predicts something terrible will happen in April or May? Something?
The details of unlocking an additional ~15% within two months are as follows:
--VC investors, early contributors and teams can unlock up to 13.1% (1.314B tokens) before April 15
--VC investors, early contributors and teams can unlock up to an additional 0.4% (40M tokens) before and after April 30
--VC investors, early contributors and teams can unlock a maximum of 0.8% per month in the next 31 months, and a total of 1.6% in two months
Within two months, the maximum unlocked total for VC investors, early contributors and teams was 15.1%.
4. Conclusion
Starknet announces the $STRK airdrop scheduled for February 20, targeting over 1.3 million wallets, including $DYDX users and Ethereum stakers.
If the next Airdrop fails to satisfy users, there is a possibility that Starknet will lose a significant number of loyal users, and the price of $STRK could become highly volatile.
What are your thoughts on this issue?
#Write2Earn #TrendingTopic #strk
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Disclaimer: This is a reference to the current trends within the community and is dependent on the upcoming events of StarkNet and the crypto market. We have not yet evaluated whether this project is good or bad.
