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The StarkWare project, which specializes in layer two scaling solutions, has confirmed the release of the StarkNet network governance token. The presence contributes to the decentralization of the
The StarkWare project, which specializes in layer two scaling solutions, has confirmed the release of the StarkNet network governance token.
The presence contributes to the decentralization of the network and is designed to fulfill three main roles:
The emission of ERC-20 tokens will amount to 10 billion tokens. More than 50% of the bid will go to the StarkNet Foundation, the non-profit organization responsible for developing the ecosystem. The rest will be distributed among the investors and the main participants of the project.
“STARK technology is mature and secure, but StarkNet has not reached public domain status like Ethereum or the internet. For the network to achieve this goal, its management, operation and development must continue in a decentralized manner. This will be facilitated by two mechanisms: the StarkNet Foundation and the token,” he said.
In 2023, StarkWare will distribute tokens over the air among community members. The company said that the snapshot for distribution should be made before it is made public. The team noted the desire to prevent the asset from falling into “weak hands”.
Recall that in May, StarkWare raised $100 million in its Series D funding round. The startup’s value is $8 billion.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
