StarkWare Plans to Launch StarkNet Token and Foundation
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StarkNet Alpha was initially introduced in November 2021, and numerous teams have since worked on it and grown the ecosystem. Concerning the modifications, the team hopes to make to the ecosystem using the token. The first 10 billion StarkNet tokens will be released in September 2022 and are currently in circulation. They will be given to consultants, end users, community developers, employees, and contributors. Investors will receive 17% of the tokens, core contributors 32.97%, and the StarkNet Foundation will receive the remaining 50.17%.
A nonprofit organization called the StarkNet Foundation seeks to "keep the network as a public good." A one-time grant will be given to the Foundation, which will utilize it to promote the creation of bottom-up processes.
StarkWare's Success Marks the Beginning of Layer Two Solutions
As the demand for layer two solutions grows, StarkWare has accomplished new milestones. In May 2022, the company secured $100 million in investment, valuing it at $8 billion. Layer 2 solutions have gained popularity, and Vitalik Buterin has stated that this is how Ethereum will scale.
Hyper scaling, a layer three scaling option for Ethereum, has also been made public by StarkWare. Although it is claimed that this scaling can cut expenses by a factor of a million, it works best in specific applications. As for additional innovations, the Loopring exchange and StarkWare announced a cross-layer 2 AMM last year.