StarkNet Foundation Set to Allocate 1.8B STRK Tokens for User Rebates and Provisons’ Committee

StarkNet Foundation Set to Allocate 1.8B STRK Tokens for User Rebates and Provisons’ Committee

The StarkNet Foundation has announced plans to allocate 1.8 billion STRK tokens for user rebates and provisions. The Foundation will distribute the tokens over a 90-day period, using an algorithm to distribute rewards among all users and stakeholders based on eligibility.

The 1.8 billion STRK tokens are designed to give users a wide range of incentives and rewards for using the protocols, applications, and services that StarkNet StarkNet is developing for business and personal users.

StarkNet Foundation Chief Operating Officer, Austin Kaplan, said the funds are intended to incentivize users of the StarkNet platform to stay engaged and continue to build the network.

“These funds provide tangible and real benefits for end users, which makes it simpler to stay connected and grow the network. Our goal is to incentivize and reward users for continued engagement and utilization of our suite of products and services,” Kaplan said.

The 1.8 billion STRK tokens will be used to reward end-user users in various ways, including but not limited to: user registration rebates, loyalty rewards, content and activity rewards, and referral bonuses.

The Foundation also created a Provision Committee to review and prepare the guildlines for the proper uses of the 1.8 billion STRK tokens. The Provision Committee is comprised of seven members and is chaired by former US Senator William “Bill” Frist.

The Provision Committee will work to ensure that user rewards are appropriate, as well as to monitor compliance with the Foundation’s rules and regulations. Additionally, the Committee will provide advice and support to the Foundation on strategic and legal matters.

The StarkNet Foundation’s goal is to build a more equitable and accessible global economy through empowering users and providing them with the means to build up their own wealth. With the launch of the 1.8 billion STRK tokens, the Foundation is taking a big step towards achieving its mission.