The Starknet Foundation, the organization behind the Ethereum layer-2 blockchain platform Starknet, has introduced the Early Community Member Program (ECMP) to reward and incentivize early ecosystem contributors. As part of this program, the foundation has allocated 50 million STRK tokens to be distributed among eligible individuals who have made significant contributions to the development of Starknet.

Background and Token Launch

Starknet is a layer-2 solution for Ethereum that aims to improve scalability and reduce transaction costs. Its native token, STRK, is set to go live in April 2024. The ECMP is designed to recognize the important role played by early contributors and provide them with a token-based reward.

In an announcement on their community forum, the Starknet Foundation stated that the program is open to both technical and non-technical builders. It will focus on individual contributors to technical discourse, key projects, event organizers, and regular publishers of Starknet branded content during its first phase.

Application and Timeline

Eligible individuals can submit their applications between October 30 and November 23, 2023. The committee overseeing the program will review the applications and make their decision on December 29, 2023. Successful applicants will receive a share of the allocated STRK tokens.

It is expected that STRK tokens will be tradeable starting in April 2024, once the token goes live. The foundation encourages early ecosystem contributors to apply for the ECMP to be considered for the token allocation.

FAQ

What is the Starknet Foundation?

The Starknet Foundation is the organization responsible for the development of Starknet, an Ethereum layer-2 blockchain platform.

What is the Early Community Member Program (ECMP)?

The ECMP is a program launched by the Starknet Foundation to reward and incentivize early ecosystem contributors to Starknet. Eligible individuals will receive a share of the allocated STRK tokens.

When can eligible individuals apply for the ECMP?

Eligible individuals can submit their applications between October 30 and November 23, 2023.

When will the committee announce their decision?

The committee overseeing the ECMP will announce their decision on December 29, 2023.

When will STRK tokens be tradeable?

STRK tokens are expected to be tradeable starting in April 2024, once the token goes live.

Who can apply for the ECMP?

The ECMP is open to all builders, both technical and non-technical, who have made significant contributions to the Starknet ecosystem.

How many STRK tokens have been allocated to the ECMP?

A total of 50 million STRK tokens have been allocated to the ECMP.

Can individuals apply for the ECMP after the application deadline?

No, applications must be submitted between October 30 and November 23, 2023, to be considered for the ECMP.

Is the ECMP a one-time program or will there be future phases?

The ECMP currently has a first phase focused on specific criteria. The foundation may decide to embark on a second phase based on feedback and additional criteria.

Summary

The Starknet Foundation has launched the Early Community Member Program (ECMP) to recognize and reward early ecosystem contributors to Starknet. The program aims to distribute 50 million STRK tokens among eligible individuals who have made significant contributions to the development of Starknet. Applications for the ECMP can be submitted until November 23, 2023, and successful applicants will be announced on December 29, 2023. The allocation of STRK tokens is expected to be tradeable starting in April 2024.