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Starknet Is Losing User Count Due To Recent Token Airdrop

Starknet, an Israel-based Ethereum Layer-2 blockchain has started its anticipated STRK token Airdrops today. However, the blockchain’s active user count has significantly dropped in the past week.

As per the data showed by Starkscan, on February 9, Starknet’s active user count was under 20,000 then suddenly increased to 220,500 when Starknet announced its token Airdrop on February 14.

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However, as of yesterday, Starknet’s active user count has plummeted to just over 84,000 accounts. It appears that the Starknet community was dissatisfied with the airdrop eligibility criteria. According to the criteria, users who have less than 0.005 Ether (ETH) on November 15, 2023, will be excluded from receiving the airdrop.

As a result, many network users failed to receive the token airdrop due to having less than the required amount in their wallet, despite making thousands of dollars worth of transactions and adding liquidity to the network. 

Moreover, another dispute has been raised by the Starknet users, and it’s about the token unlock schedule, particularly regarding the distribution of 1.3 billion STRK tokens on April 15, just two months after the platform’s launch. This would appear that the schedule goes in favor of Starknet investors and early contributors.

On February 19, Starknet posted on X that,  “we hear the feedback that some dedicated community members and network users have been left out due to certain Provisions criteria, and we are actively working to address these concerns.” after receiving criticisms from the community.

Despite losing its active users, Starknet’s total value locked remains stable, currently standing at $54.18 million.

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Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
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