Were you caught in the Starknet (STRK) airdrop confusion? If you’re an Immutable X user or an ETH pool staker, there’s good news! Starknet has announced that the previous hiccups causing delays and mix-ups are now resolved. Get ready to claim your STRK tokens starting next month!
Starknet Airdrop Issues: What Went Wrong?
The Starknet Foundation, the team behind the Starknet layer-2 blockchain, faced some turbulence after their initial STRK airdrop in February. While many users successfully received their tokens, some key groups – specifically Immutable X users and those staking ETH in pools – encountered frustrating technical difficulties. Let’s break down what happened:
- Immutable X User Mix-up: A list provided by Immutable X, intended to differentiate between self-custody IMX users and VeVe NFT platform users, turned out to be inaccurate. Many Immutable X users were mistakenly labeled as VeVe users. This was crucial because VeVe, holding users’ private keys, was intended to handle airdrops for its users directly. The incorrect list blocked legitimate Immutable X users from claiming their tokens.
- ETH Pool Staker Problems: Pooled ETH stakers also faced issues. Staking protocols were unable to distribute STRK tokens to eligible stakers. Starknet cited various underlying causes for this complication.
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The Fix is In: STRK Claims Opening in April
Starknet has officially stated that these issues are now resolved! Both affected Immutable X users and ETH pool stakers will be able to claim their STRK tokens starting in April. Here’s what we know:
- Immutable X Users Cleared: The inaccurate list has been corrected. Immutable X users who completed at least eight transactions before June 1, 2022, are now confirmed as eligible and can prepare to claim their airdrop.
- ETH Pool Stakers Onboard: Staking protocols have now provided Starknet with lists of eligible ETH pool stakers. These users will also be able to claim their STRK starting next month.
- VeVe Users Still in Discussion: Starknet is actively working with the VeVe team to finalize the airdrop process for VeVe users. Further updates on this are expected.
STRK Airdrop: A Rocky Start, But Looking Ahead
The STRK airdrop hasn’t been without its bumps in the road. Beyond the recent technical glitches, the initial airdrop in February faced criticism for its eligibility criteria and token unlock schedule. Let’s recap some of the earlier concerns:
- Eligibility Backlash: Many Starknet users felt excluded from the airdrop despite significant on-chain activity. The requirement to hold a minimum of 0.005 ETH (around $10 at the time) on November 15, 2023, as a snapshot date, locked out many active users who didn’t meet this specific criterion.
- Token Unlock Schedule Concerns: The initial token unlock schedule sparked worries about large investors and early contributors potentially dumping their tokens on the market, negatively impacting retail users. Starknet responded by adjusting the schedule, distributing tokens for early contributors and investors more gradually over three years instead of a large initial drop.
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STRK Price Action: Navigating Post-Airdrop Volatility
Following the February 20th airdrop, STRK’s price experienced significant volatility. Large token holders selling off their airdropped tokens led to a sharp price decline. STRK plummeted from a peak of $4.40 to around $1.90 in just over two days – a 60% drop.
STRK has struggled to regain its initial highs and is currently trading around $1.88, according to Coinstats data. This highlights the typical price fluctuations often seen after token airdrops, influenced by factors like market sentiment and initial distribution dynamics.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
What’s Next for STRK and Starknet?
With the airdrop claim issues being addressed, Starknet is moving forward. The upcoming STRK claims in April offer a chance for eligible Immutable X and ETH pool stakers to finally receive their tokens. While the initial airdrop rollout wasn’t seamless, Starknet’s responsiveness in addressing the problems and adjusting the token schedule demonstrates a commitment to the community. Keep an eye on official Starknet channels for announcements regarding the exact claim dates and procedures in April.
Key Takeaways:
- Starknet has fixed STRK airdrop issues for Immutable X users and ETH pool stakers.
- Eligible users can claim their STRK tokens starting in April.
- VeVe user airdrops are still under discussion.
- The initial STRK airdrop faced criticism regarding eligibility and token unlock schedules, leading to adjustments by Starknet.
- STRK price experienced volatility post-airdrop and is currently trading below its initial peak.
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Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.