Millions of tokens said on the day of the airdrop, Starknet’s STRK reached $7 on Binance.

Ethereum's layer-2 scaling protocol, Starknet, began distributing its initial network token on February 20, with millions of tokens entering the event portal.

Real-time data tracking claims indicates that eligible users secured more than 45 million STRK tokens in the first 90 minutes of the allocation. The token also began trading on several major exchanges.

STRK followed the listing on Binance, trading above $7 and surpassed $5 on KuCoin as the tokens entered the broader cryptocurrency ecosystem. Data from CoinMarketCap showed STRK trading between $3 and $4, with a market capitalization of more than $2.1 billion.

More than 1.3 million wallets are eligible to claim Starknet native tokens, including Ethereum sole and liquid stakeholders, Starknet developers and users, as well as projects and developers outside the Web3 ecosystem.

Alongside the launch of a dedicated portal that allows individuals to check their eligibility and receive STRK tokens, the StarkNet Foundation has published a list of its token offerings. More than 700 million STRK tokens are prepared to be divided into nine categories and used for administration and transaction fees. Starknet plans to develop an inventory of STRK tokens in the future.

Starknet is one of Ethereum's main L2s that pioneered Zero Knowledge (ZK) stack technology. The protocol allows transactions and smart contract functions to run off-chain, with cryptographic proofs provided for Ethereum's underlying blockchain security guarantees.

Related: Starknet to Give 10% of Network Fees to Devs, $3.5M in Initial Distribution

The Layer-2 scaling protocol also addresses concerns raised by Starknet and Ethereum community members about the STRK airdrop eligibility criteria. As Cointelegraph previously reported, active users of STRKnet have surged in recent weeks as STRK recipients and weather farmers seek to qualify for the campaign.

A notice issued following the launch of StarNet's provisioning portal noted that comments from community members and network users were “ignored due to certain provisioning requirements”. The Starknet Foundation added that it is working on a solution for eligible users.

The wider cryptocurrency community has also been warned to beware of scams and malicious links.

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