As dissatisfaction with the token drop grew, Starknet’s user numbers fell
Update Feb 20, 9:45 am UTC: Following StarNet's weather announcement, active addresses on the network are now back to normal.
Starknet's active users have dropped sharply over the past seven days amid growing complaints about the Starknet provisioning program's climate.
Active users of Ethereum's layer-2 blockchain fell below 20,000 on February 9, from a nearly three-month high of more than 220,500 on February 14, as users and airdrop farmers flocked to the network to claim allocations, data from Starcan showed.
However, after Starknet shared details for the February 20 airdrop, active users dropped to pre-announcement levels. As of February 19, the network has seen over 84,000 active accounts.
Starknet users and the community have tightened airdrop requirements that saw users with less than 0.005 Ether (ETH) in their accounts on November 15, 2023 – about $10 at the time – excluded from token distributions.
Several network users on X and the project Discord reported that they missed out on token distributions, despite making thousands of dollars worth of transactions and adding funds to the network, due to less than the minimum amount in their wallets.
In the year In a February 19 post on X, Starknet noted that some network users were “dropped due to certain delivery parameters” and added that it is “working to address these concerns” but has a solution. It requires “time to research, design and test.”
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Another controversial detail is the token launch program, which will reward STRKnet investors and early contributors with 1.3 billion STRK – about 13% of the total supply – two months after its April 15 launch.
By comparison, around 700 million STRK – about 10% of the total supply – is set for distribution on February 20.
STRK is trading as high as $1.98 on pre-market perpetual exchanges Aevo and HyperliquidX – meaning its market capitalization could be around $1.38 billion at launch.
Despite the drop in active users, Starknet's total value was locked at $54.18 million, down about 5.7% from its all-time high of $57.5 million on Feb. 14, Defillama said.
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