Ethereum is a crucial part of products we love, from NFTs to DeFi. However, the high gas costs and slow transaction fees have made it difficult for mass adoption. For Ethereum to reach its full potential, its scalability has to be improved. This is where Layer2s comes in. One of these initiatives is StarkNet, developed by StarkWare. Let’s dive into it
What is StarkNet?
StarkNet is a permissionless and decentralized Validity-Rollup that uses the STARK cryptographic proof system. As an L2 on ETH, dApps can be highly scalable without losing security and composability.
Who built StarkNet?
StarkNet is built by StarkWare, an organization that has received over +$250 million in funding from notable venture capital firms like Sequoia, Pantera Capital, Ethereum, Paradigm, and more. The team has made tremendous progress in Ethereum scalability and continues to do so with StarkNet. At the time of writing, the platform has a TVL of $3M and a TPS of 0.25 deployed according to L2Beat.
Does StarkNet have a token?
StarkWare announced a native ERC-20 token on July 13th, 2022. The protocol is said to mint more tokens after the initial 10 billion is distributed and depending on community demand. Follow the airdrop guide below to see how you can qualify for the StarkNet airdrop!
How to invest in the StarkNet Token
While theStarkNet token hasn’t been launched yet, you can try to get the airdrop. Your best chance of receiving the StarkNet token airdrop is by interacting with the StarKNet Blockchain and StarkNet dApps.
Step-by-step Process to StarkNet Airdrop Guide
1) How to add StarkNet to Metamask
You will need to download and set up your Argent wallet. To do this, we recommend using the Chrome browser, as you can install it as an extension. Apart from the Argent wallet, you will also need a MetaMask wallet set up. Make sure to have your wallet connected to the Ethereum Mainnet.
Now that you have your wallets set up, you will need to connect MetaMask and Argent to interact with StarkNet. The networks can sometimes be congested, so you might have to wait a bit..
The next step is to bridge your assets from Mainnet onto StarkNet. We suggest using $ETH in this case. Choose the amount of $ETH you want to bridge over and confirm the transaction. You can see your transaction in the StarkNet block explorer.
Once you’ve bridged your assets, you can check out all the dApps available. We suggest looking at Aspect.co and Mint Square, which are NFT marketplaces. Play around with the marketplace and buy/sell some NFTs. The NFTs shouldn’t cost more than a few cents, so browse and look around. The more interactions, the better, so make sure to list your own NFT.
Another thing to check out is StarGate DAO. You will need some $STG tokens to participate. To do so, you can purchase the $STG tokens via Uniswap. After, you can visit https://stargate.finance/stake/eth to stake the token.
Now that you’ve staked $STG visit StarGate DAO. You can click on ‘Join’ and sign off the transaction on MetaMask. You will then be able to vote on proposals that you deem appropriate.
That’s a conclusion for the StarkNet Airdrop Guide. Hope you’ve increased your likelihood of receiving the StarkNet Token and saw the benefits of the StarkNet blockchain!