StarkWare, a project specialized in layer-two scaling solutions, has just confirmed the launch of the StarkNet network governance token, an asset that contributes to the decentralization of the network and is designed to fulfill three main roles: participation in governance through staking, payment of commissions for transactions in StarkNet and application in the consensus mechanism.
The emission of the tokens, which will be based on the ERC-20 standard, will amount to 10 billion coins. More than 50% of the proposal will go to the non-profit organization StarkNet Foundation, which is responsible for the development of the ecosystem. The rest will be distributed among investors and the main participants of the project.
According to the announcement:
“STARK technology is mature and secure, but StarkNet has not reached the status of a public good like Ethereum or the internet. For the network to achieve this goal, its management, operation and development must continue to be decentralized. This will be facilitated by two mechanisms: the StarkNet Foundation and the token.”