StarkNet is a promising platform to invest in because it aims to obtain massive scale while maintaining Ethereum’s security, efficiency, and transparency. It is one of many initiatives to increase Ethereum’s scalability, primarily through applying layer-2 chains.
This guide aims to give our valued audiences a comprehensive understanding of the StarkNet Airdrop, including the best strategies to increase your chance of getting $STRK. So, if this is a topic that interests you, keep on reading!
Key Insights:
- How to be Eligible for the StarkNet Airdrop
- What is StarkNet?
- What will be the use of the StarkNet tokens?
Related Article: Scroll Airdrop (2023): The Comprehensive Guide to Be Eligible
Step by Step to be Eligible for the StarkNet Airdrop
The StarkNet Airdrop is an exciting opportunity for cryptocurrency enthusiasts to get free tokens by performing simple steps. First, you must ensure you have an Ethereum address to skin into the StarkNet airdrop. This address is a 42-character hexadecimal address with 0x appended in front.
During participating in the airdrop process, you will connect to various applications on the StarkNet network by using MetaMask or ArgentX wallet. You can access these dapps on your desktop or mobile device. With all that said, below are the ways to qualify for the StarkNet Airdrop:
1. Mint NFTs on Mint Square
With less expensive transactions and quicker confirmation times, Mint Square offers NFTs trading completely protected by the Ethereum consensus. To mint and sell your NFT, be sure to follow these three simple steps:
Step 1: Setup or connect your wallet
To get started, you can choose to download the Argent X or Braavos browser wallets and connect to StarkNet.
Step 2: Upload and make a list of your NFTs
You can mint your NFT by submitting an image with the specified name, description, and NFT characteristics. To begin selling, click “List” on your NFT page.
Step 3: Find and Purchase NFTs
Look through collections for StarkNet and zkSync Era-minted NFTs. To begin purchasing an NFT, make an offer or buy it.
2. Bridge to StarkNet
In this article, we advise you to bridge to the StarkNet ecosystem from the Ethereum mainnet to meet the requirements for the StarkNet airdrop. You can utilize the StarkGate platform, which is created and made available by the StarkWare team as the official bridging application.
Here’s how you can do it:
Step 1: Link your wallet to the network.
Step 2: Send Ethereum tokens (ETH) from the mainnet to StarkNet
3. Transact Using 10KSwap
10KSwap is a platform built under the StarkNet network, and it is an AMM DEX that forked from UniSwap. We advise you to swap tokens and provide liquidity to pools frequently. As a result, it increases your chance of being selected for the airdrop.
4. Use ArgentX on StarkNet
Another requirement to be eligible for the StarkNet airdrop is using ArgentX, the native StarkNet wallet. You could use this wallet to store and secure your assets if these tokens were created on the Ethereum blockchain.
To use ArgentX on StarkNet, here’s what you can do:
Step 1: Download or add the wallet to your browser extension.
Step 2: Begin your transaction.
You can start by transferring some of your tokens to the wallet to make transactions.
5. Utilize zkLend Protocol
The zkLend platform is a StarkNet money-market protocol that combines Ethereum’s security with zk-rollup scalability, faster transaction times, and cost savings. This money market allows you to deposit and lend money to earn a yield.
To establish itself as the network’s leading lending protocol and a household name in DeFi, zkLend intends to take full advantage of all that StarkNet offers. The network will be able to develop more effective liquidation models thanks to its low transaction costs, refocusing attention on the borrower. That said, we believe this is a great strategy to be eligible for the airdrop because of the popularity of zkLend.
What is StarkNet?
StarkNet is a project developed by StarkWare Industries. This platform is a layer-2 scaling approach for Ethereum that boosts the network’s transactional capacity using zk-rollups technology. This protocol aims to offer a quick, inexpensive, and safe replacement for existing layer-1 solutions. It achieves this by enabling the scaling of decentralized applications without compromising security or decentralization.
StarkNet is bounded by the following principles:
- Scalability: StarkNet generates STARK proofs off-chain before putting those proofs on-chain to boost scale and Ethereum-level security.
- Censorship resistance: StarkNet will use a decentralized model to avoid coercive censorship, particularly in its transactions and smart contracts.
- Liveness: StarkNet won’t rely on a single company to operate the network, especially those that might go out of business or stop providing network services.
- Creativity: To avoid monopolization and promote innovative, creative, and socially valuable uses of blockchains at scale, StarkNet would enable any developers to take part in creating its fundamental infrastructure and applications.
- Transparency: Users, operators, and developers of StarkNet will collaborate to decide on upgrades and maintenance through an open, equitable, participatory, and inclusive process.
What will be the use of the StarkNet tokens?
The StarkNet token ($STRK) will be used to cover transaction costs and participate in the StarkNet protocol and governance. It was always intended to be a protocol run by the community, according to the decentralized governance proposal for the StarkNet platform. But it has not been possible to say precisely who makes up this community.
Conclusion
In this StarkNet Airdrop guide, we’ve provided a step-by-step guide on eligibility for the airdrop. Participating in the StarkNet Airdrop is a great way to get some free tokens and make money. The processes are relatively straightforward and are a great guide to making an informed decision on whether or not participating in the StarkNet Airdrop is suitable for you.
FAQ
How does StarkNet work?
Over Ethereum, StarkNet functions as a Layer 2 network. It can achieve three times the current throughput levels with minimal gas cost. Additionally, it makes it possible for any app to reach an enormous scale while maintaining the security and composability of Ethereum.
How much can I earn with the StarkNet Airdrop?
StarkWare has yet to release details on the amount of $STRK to be released in the airdrop or when this would occur. However, some experts believe it would depend on its Fair Market Value (FMV) and how much you use the different applications on the network.
How to invest in Starknet?
Starknet tokens are not yet available for purchase, but you can invest by making transactions on the network. As the platform enables its investors to use the network as sequencers, users, provers, or developers, you can also take part in its operations.
