Number of Starknet’s Active Users Drops Over Airdrop Criticism

UTC by Chimamanda U. Martha · 2 min read
Number of Starknet’s Active Users Drops Over Airdrop Criticism
Photo: Freepik

Many users voiced their grievances on social media platforms and the project’s Discord channel, expressing disappointment at being left out of the token distribution despite their contributions to the network.

Starknet, a popular Ethereum layer-2 blockchain, has experienced a significant decline in active users over the past week. It comes amidst growing dissatisfaction among users regarding the Starknet Provisions Program airdrop.

Starknet User Number Decreases Following Airdrop Announcement

Data from Starkscan indicates that the number of active users on Starknet surged from under 20,000 on February 9 to a peak of over 220,500 on February 14. This increase was fueled by users and airdrop participants eager to secure an allocation in the upcoming airdrop.

However, following the announcement of details for the airdrop scheduled for February 20, the number of active users dropped sharply, almost returning to pre-announcement levels. On February 19, the network recorded just over 84,000 active accounts.

One of the primary sources of discontent among Starknet users and its community is the criteria for the airdrop. Users with less than 0.005 Ether (ETH) in their account on November 15, 2023, were excluded from receiving tokens.

This exclusion was particularly frustrating for users who had conducted significant transactions and contributed liquidity to the network.

According to reports, many users voiced their grievances on social media platforms and the project’s Discord channel, expressing disappointment at being left out of the token distribution despite their contributions to the network.

Users’ Concerns Regarding Starknet Addresses

In response to these concerns, Starknet acknowledged the feedback and stated that they are working to address the issue. However, they noted that resolving the matter would require time for research, design, and testing.

Another point of contention is the token unlock schedule. Starknet plans to reward investors and early contributors with 1.3 billion STRK, equivalent to about 13% of the total supply, on April 15, just two months after the network’s launch. The rapid token release has raised questions about fairness and transparency in the distribution process.

Despite the decline in active users, Starknet’s total value locked remains significant at $54.18 million, though it has decreased by around 5.7% from its all-time high of $57.5 million on February 14, according to DefiLlama.

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