Token

Starknet

April

Starknet’s STRK token lost more than half of its value since it <a href="https://news.todayq.com/starknets-728-million-token-airdrop-sparks-strk-surge-to-5/" target="_blank" rel="noopener noreferrer nofollow">started taking trade</a> in the market. As suggested, this happened because people are upset about how the tokens were created in 2022. Reports say that the value of STRK went down by 55% in the past 24 hours with a trading volume of around $1.2 billion. People only sold $3 million worth of STRK futures, meaning most of the selling was from people selling their tokens directly. Right now, STRK is down by 20%. STRK’s decline amid launch 
About 728 million STRK were given out to around 1.3 million addresses <a href="https://news.todayq.com/starknet-airdrop-in-trouble-almost-2k-recipients-gone-in-a-blink/" target="_blank" rel="noopener noreferrer nofollow">based on certain rules,</a> like being active on the blockchain and in the community. Many of the people who got the tokens probably sold them quickly.
The team behind Starknet announced on X that over 100,000 wallets have claimed more than 220 million STRK tokens as of Tuesday.
Over 100k users claimed STRK, lesssss goooo!Source:
According to reports, around half, or 50.1%, of the total supply of STRK tokens is set aside for the Starknet Foundation. They plan to use these tokens for community giveaways, grants, and charitable donations. About 24.68% of the tokens will go to early supporters and investors, while 32% will be given to StarkWare, the company behind the development of STRK, for its employees, advisors, and partners.
These tokens will become available gradually over 31 months, starting from April. This could lead to more tokens entering the market, potentially causing prices to drop. Why the criticism? 
Some people in the community are unhappy with the timing of when the team and investors will receive their tokens. Recently, it came to light that Starknet actually created its tokens in November 2022, with an original plan to wait a year before distributing them. This distribution was later rescheduled to start in April 2024.
Starknet developers say they talked about and wrote about the generation event in their technical papers, but it seems like many people didn’t notice. However, some critics think this is hiding the truth and might benefit insiders more than the community.
Usually, a vesting period starts after tokens are available on exchanges or are close to being traded. But in STRK’s case, the tokens were issued almost two years before they were publicly announced, which is unusual.
This means that core contributors and investors will have access to 13.1% of the tokens in April 2024, and more will be unlocked each month after that. The first batch of unlocked tokens could be worth more than $2.6 billion based on current prices, according toToken Unlocks data.&nbsp; 
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Starknet’s STRK drops 55% amid criticism, Can it make a comeback?

Todayq News

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