Summary: If you want to qualify for the upcoming 2024 StarkNet airdrop and potentially earn over $10,000 in tokens, establish an Ethereum address, engage with StarkNet applications (which may cost $100 - $200 in gas fees), and perform specific tasks, including bridging via StarkGate, trading on 10KSwap and Brine Finance, using the ArgentX wallet, participating in the zkLend money market, and exiting StarkNet via Orbiter Finance.
When is the StarkNet Airdrop?
Starknet, an innovative Ethereum Layer-2 scaling solution, has generated considerable excitement with its announcement of an upcoming STRK token airdrop. The Starknet Foundation has disclosed plans to distribute over 1.8 billion STRK tokens to its community members and stakeholders, marking a significant event in the cryptocurrency space.
This distribution is divided into two major segments, approximately 900 million tokens are allocated to acknowledge both past and future contributions from users and community members, though the specific criteria for allocation remain undisclosed. Another 900 million tokens are earmarked for user rebates, aiming to offset a portion of network transaction fees. In addition to these, an extra 50 million STRK tokens are set aside to foster DeFi activities on the Starknet platform.
These tokens will be distributed in various ways, including direct, indirect, and retroactive methods to DeFi users on Starknet. The precise timeline for the commencement of this airdrop hasn't been revealed, but it is expected to start soon, aligning with the growing trend of utilizing airdrops in the crypto and DeFi sectors as a strategy to expand user bases and reinforce community loyalty.
How to Qualify for StarkNet Airdrop
To qualify for the StarkNet airdrop, start by establishing an Ethereum address. Following this, choose to use either the MetaMask or TrustWallet applications, accessible from either your desktop or mobile device, to engage with diverse applications within the StarkNet network.
In order to optimize your qualification for the maximum quantity of StarkNet tokens, please adhere to the steps provided below.
Take note, it's projected that your interaction with all these applications might necessitate a sum of approximately $100 to $200, depending on varying gas fees. This is intended to allow you to garner the maximum amount of StarkNet airdrop tokens, potentially exceeding $10,000 in value. Get started by following this detailed guide:
- Bridge to StarkNet - One of the first likely eligibility requirements for the StarkNet airdrop will be to bridge to the network from Ethereum mainnet. To do this, we recommend using StarkGate which is the official bridge built and deployed by the StarkWare team. Simply connect your wallet, send ETH tokens from mainnet to StarkNet and you should earn some tokens once the airdrop is live.
- Trade on a StarkNet DEX - Now that you have bridged tokens to StarkNet, we recommend checking out a native DEX like 10KSwap. This is an AMM and fork of UniSwap that allows you to securely transfer between different tokens on the StarkNet platform. All you need to do here is connect your wallet and choose two tokens to swap between. This will tick off another step in your eligibility requirements.
- Use ArgentX on StarkNet - ArgentX is a native StarkNet wallet and an alternative to wallets like MetaMask or Trust Wallet. For this step, we recommend downloading and installing the wallet and transferring some tokens to the wallet and making some transactions. This will likely be another eligibility requirement to boost the amount you earn in the StarkNet airdrop.
- Make an Orderbook Trade on Brine Finance - Brine Finance is another decentralized exchange (DEX) on StarkNet that is different to normal AMM's because it operates as a traditional order book exchange. The airdrop strategy here is again very simple, just connect your MetaMask Wallet and make a few trades to ensure that you meet this eligibility requirement.
- Use a StarkNet Money Market - Another strategy that we recommend is to use a money market that is native to the StarkNet ecosystem. Money markets allow you to deposit and lend money to earn a yield, similar to traditional DeFi applications like AAVE or Compound. We recommend that you use zkLend, which is the most popular zk-rollup money market on Starknet.
- Bridge out of StarkNet - If you want to bridge funds back out of StarkNet, we recommend using an alternative bridging platform like Orbiter Finance. By using two different bridges, you essentially hedge your bets just in case the airdrop covers one bridge or the other. There is also a chance that by using both bridges, you get given an enhanced multiplier for the StarkNet airdrop.
How much can I earn with the StarkNet Airdrop?
The amount that you can earn from the StarkNet airdrop will likely depend on how much ETH you have bridged to StarkNet and how much you use the different applications on the network. However, we anticipate that it is possible to earn more than $10,000 worth of StarkNet tokens if you meet all of the eligibility requirements.
What is StarkNet?
StarkNet is a Layer 2 scaling solution for Ethereum, utilizing the principles of a Validity-Rollup, also known as ZK-Rollup. Its primary function is to enhance Ethereum's scalability without compromising its foundational attributes of security and decentralization. Starknet accomplishes this by aggregating multiple transactions into a single off-chain STARK proof, which is then verified on the Ethereum network. This method significantly boosts transaction throughput, accelerates processing times, and reduces costs, all while leveraging Ethereum's robust security framework.
At its core, Starknet employs two critical components, the Sequencer and the Prover. The Sequencer is responsible for validating, executing, and grouping transactions into blocks, ensuring only successful transactions progress. The Prover, on the other hand, verifies the mathematical integrity of these transactions by generating a STARK proof. This proof, alongside the State Diff, is then sent to Ethereum, where it undergoes verification through smart contracts.
In conclusion, achieving eligibility for the StarkNet airdrop involves a strategic process, but the potential rewards make it worthwhile. By establishing an Ethereum address, interacting with various applications within the StarkNet network, and following the steps outlined above, you can position yourself optimally to maximize your StarkNet token acquisition.
Remember, while the costs associated with these interactions can range from $100 to $200, the potential rewards could exceed $10,000 in StarkNet tokens. As StarkNet continues to revolutionize Ethereum's transactional capacity, participating in this airdrop could provide a significant boost to your crypto assets.