Starknet fixes STRK token airdrop issues for Immutable X and ETH pool stakers

The Ethereum layer-2 blockchain Starknet is finally cutting in eligible Immutable X users and pooled Ether ( ETH ) stakers on its next airdrop round slated for next month in another change to its token unlock schedule.

The Starknet Foundation — the organization supporting the Starknet network — is facing backlash over  some pre-Merge ETH stakers and Immutable X users eligible for February’s Starknet (STRK) airdrop  but faced several technical issues getting their tokens.

The foundation now claims the issues have been straightened out, and eligible users can begin claiming their STRK in April, according to a note shared with Cointelegraph.

Starknet said a list provided by Immutable showed self-custody IMX addresses and wallets associated with users of the nonfungible token (NFT) platform VeVe was inaccurate, with many Immutable X users being mistakenly classified as VeVe users.

The list was supposed to help differentiate between the two groups. VeVe holds its users’ private keys, and airdrop-eligible VeVe users would not have had the information needed for the claims process, so Starknet airdropped the token through the NFT platform.

With the list now fixed, Immutable X users who performed eight or more transactions before June 1, 2022, can now claim their airdrop.

Starknet is still discussing airdrops for VeVe users with the VeVe team.

There was also an issue for pooled ETH stakers, with the staking protocols unable to airdrop STRK to those eligible — something Starknet said could be traced back to several causes.

Some staking protocols have given Starknet a list of users eligible to claim their airdrop starting in April.

Related: Starknet populated by airdrop hunters ahead of token launch

The updated airdrop schedule is yet another change by Starknet, which changed its unlock schedule  in February after concerns that the original plan allowed investors to dump their holdings on retail users.

Early contributors and investors got lumped together with smaller and spaced-out STRK distributions over three years instead of a larger drop scheduled for April.

STRK’s airdrop was also widely criticized by Starknet users who claimed they were ineligible despite having made thousands of dollars worth of transactions but missed out due to eligibility criteria mandating the need to hold at least 0.005 ETH — worth about $10 — at the time of a snapshot on Nov. 15, 2023.

Soon after STRK’s Feb. 20 airdrop, large STRK holders dumped tokens worth millions  and its price fell 60% from its $4.40 peak to $1.90 in a little over two days. The price of STRK has struggled to recover and is currently trading at $1.88, according to CoinGecko data.

Magazine: Is measuring blockchain transactions per second (TPS) stupid in 2024? Big Questions