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The StarkNet Foundation is pleased to announce that it is allocating 1.8 billion STRK tokens for user rebates and provisions. This allocation will be effective from September 1st, 2021 and is expected to support the network’s long-term sustainability.
The total STRK tokens allocated for user rebates and provisions will be released from the foundation’s pool of tokens and are expected to be distributed over a three-year period. This allocation is intended to provide incentives, such as STRK tokens, for users to stake on the network, allowing users to take part in real-time network speed-ups and privacy optimizations, while also providing incentive for them to remain loyal nodes within the network.
The STRK tokens allocated for user provisions will also help to ensure further decentralization of the network, by allowing users with smaller amounts of capital to remain involved and take part in important governance decisions. This will help to further strengthen and secure the network and attract new users.
To ensure transparency and robustness of the user and provision rebates distribution, the StarkNet Foundation will form a provision committee. The Provision Committee will be tasked with setting the terms and conditions of the provisions and rebates programs, as well as overseeing the allocation and distribution of tokens. More information regarding the Provision Committee will be announced soon.
We look forward to seeing the network and community grow and evolve as we make these important allocations and help secure the future of the network.