Starknet Fixes STRK Airdrop for Immutable X, ETH Stakers

Starknet adjusts token unlock schedule, excluding some users from upcoming airdrop. Previous issues resolved, eligible Immutable X users can claim tokens in April.

In another adjustment to its token release schedule, Starknet has opted to omit eligible Immutable X users and pooled Ether stakers from its forthcoming airdrop phase, set for the following month.

The Starknet Foundation, which is the entity that provides support for the Starknet network, is experiencing criticism since several pre-Merge ETH stakers and Immutable X users were eligible for the Starknet (STRK) airdrop that took place in February.

Still, they encountered several technical difficulties, which prevented them from receiving their tokens. According to a note shared the foundation has now asserted that the problems have been resolved and that customers entitled to do so can start claiming their STRK in April.

According to Starknet, a list that Immutable provided, it was revealed that the self-custody IMX addresses and wallets linked with users of the nonfungible token (NFT) platform VeVe were wrong.

Many users of Immutable X were incorrectly classified as VeVe users.The list was presented to assist in distinguishing between the two groups.

As a result of the fact that VeVe has its users’ private keys and airdrop-eligible VeVe users would not have owned the information required for the claims procedure, Starknet decided to airdrop the token through the cryptocurrency network.

Users of Immutable X who completed eight or more transactions before June 1, 2022, can now claim their airdrop because the list has been corrected.There is an ongoing conversation between Starknet and the VeVe team regarding airdrops for VeVe users.

According to Starknet, the inability of the staking protocols to airdrop STRK to eligible individuals was another issue that affected pooled ETH stakers.

Starknet stated that this issue may be traced back to several different causes.Starknet has received a list of users eligible to collect their airdrops beginning in April.

Specific staking protocols are provided in this list.The amended airdrop timeline is yet another adjustment made by Starknet. In February, the company altered its unlock schedule in response to concerns that the first plan would allow investors to sell their holdings to retail users.

The early contributors and investors were grouped and given STRK dividends that were lower and more evenly spaced out over three years rather than a more significant drop that was supposed to take place in April.

STRK’s airdrop was also widely criticized by Starknet users, who claimed they were ineligible despite having made transactions worth thousands of dollars.

They claimed that they missed out on the opportunity because eligibility criteria required them to hold at least 0.005 ETH, which is equivalent to approximately $10 at the time of a snapshot on November 15, 2023.

A little over two days after the STRK airdrop on February 20, big cryptocurrency holders dumped tokens worth millions of dollars, causing the price of STRK to drop by sixty percent, from its peak of $4.40 to $1.90.

According to data provided by CoinGecko, the price of STRK has been extremely difficult to recover from and is presently trading at $1.88.