Official Statement from the Starknet Team

The Starknet team confirmed that the issue stems from a temporary technical fault. Their official statement reads:

“Starknet is currently experiencing a temporary disruption. Our team is actively investigating the issue and working to restore full functionality as soon as possible. Thank you for your patience.”

This reassures the community that the network is not fully down and that technical teams are working on a solution. However, the prolonged outage has created cautious waiting among users and projects, who are closely monitoring updates for when the network will return to full capacity.

Why Starknet Matters

Starknet is a leading Layer-2 solution on Ethereum aimed at reducing transaction costs and improving scalability. Using ZK-rollup technology, it provides fast and low-cost transactions, especially for DeFi, NFT, and Web3 projects. The outage has therefore created temporary uncertainty for both users and developers within the Starknet ecosystem.

Experts recommend avoiding transactions on Starknet until the network is fully restored and following only official announcements from the Starknet team. After normal operations resume, users should check pending transactions and wallet balances to ensure everything is correct.

Current Status

No precise timeline has been provided for when Starknet will return to full operation. The team is actively working to resolve the issue and will provide updates through official channels. While this outage may not create immediate market volatility, it highlights the importance of infrastructure resilience for Layer-2 networks. All eyes are now on the Starknet team for further updates.

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The post Starknet Outage Alert: First Statement from the Team appeared first on Coin Engineer.

Here’s the lowdown:

• Airdrop Details: 728 million STRK tokens will be airdropped to approximately 1.3 million wallets, marking a significant distribution event.
• Pre-Launch Buzz: Decentralized exchange Aevo listed pre-launch futures for STRK/USD, and the current price indicates a potential starting market cap of over $1 billion! This translates to a pre-listing price of $1.65 per token.
• High Expectations: Considering the airdrop size and pre-launch price, the fully diluted market cap (FDV) could climb to over $16 billion, highlighting the immense anticipation surrounding Starknet.
• Speculation Engine: Aevo’s pre-listing perpetual futures allow traders to speculate on the token’s initial price, offering a glimpse into market sentiment. As with any speculation, proceed with caution!

What’s next? The airdrop on February 20th will officially mark the public debut of STRK. Whether it lives up to the pre-launch hype and reaches a billion-dollar market cap remains to be seen. Stay tuned for further updates and exciting developments in the Starknet universe!

The post Starknet Token Airdrop: Could STRK Debut With a Billion-Dollar Market Cap? appeared first on Coin Engineer.

The company made this decision to concentrate on advancing its technology and updating the roadmap to incorporate a revision of the current lock-up period.

They postponed the unlocking of the StarkNet STRK token to 15 April 2024. However, the company had initially allocated these tokens to early supporters of the StarkWare ecosystem, main supporters, and StarkWare employees. Consequently, the tokens were not intended for public distribution.

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When StarkWare announced it was delaying the unlocking of its native project token, STRK,’ until April 2024,’, various speculations emerged about how this delay could potentially affect an airdrop. However, a source with direct knowledge clarified that the company does not intend to make these tokens available to the general public. This raised questions about whether the company is still planning an airdrop.

This source also added that, “since the unlocking of the two types of tokens have never been interdependent, it does not mean that the delay of the first unlocking will delay the next one.”

Last November, the Starknet Foundation announced it would deploy 50.1% of the total STRK token supply to fulfil the vision of StarkNet’s decentralization plan. The STRK token will serve purposes such as covering transaction fees, participating in governance, and staking on the StarkNet network.

This delay reflects StarkWare’s intention to focus on further developing their technology to ensure the long-term success of StarkNet. Furthermore, it shows that the project is focusing on participants within the ecosystem rather than public distribution.

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The post StarkNet Delays Its Initial Token Unlocking! appeared first on Coin Engineer.