Starknet, an Ethereum layer 2 scaling solution, is set to commence the distribution of its native STRK tokens on February 20, allocating a total of 700 million tokens across nine recipient categories, including Ethereum stakers.

It is estimated that approximately 1.3 million wallets, encompassing Ethereum solo and liquid stakers, Starknet developers and users, as well as external projects and contributors from the broader Web3 community, will be eligible to claim the native tokens.

Starknet has been recognised as a significant player among Ethereum's layer 2 technologies, primarily due to its pioneering work with zero-knowledge rollup (ZK-rollups) technology.

This innovative approach allows for transactions and smart contract operations to be executed off the main Ethereum chain, significantly reducing gas fees and improving transaction throughput.