According to a report, an anticipated airdrop from Ethereum layer-2 scaling solution Starknet could see significant participation from airdrop farmers.
On February 15th, Yearn Finance developer Banteg reported that 1,854 individuals allegedly renamed or deleted their Starknet addresses after a snapshot was taken for the upcoming airdrop distribution.
The Starknet Foundation plans to airdrop 728 million STRK tokens to 1.3 million wallet addresses on February 20th. However, banteg claims over 1,100 of the renamed addresses share identical historical GitHub IDs, suggesting farmers are controlling them.
Excluding these could reduce eligible wallets by over 700,000. Airdrop farmers utilize scripts to consolidate tokens into just a few wallets to sell at a profit later.
Starknet launched in December 2022 and currently has a $55 million total value locked, with 30% from the decentralized finance protocol Nostra. The airdrop targets Ethereum stakers, Starknet developers/users, and Web3 projects.
However, US, UK, and sanctioned country citizens cannot participate. With the potential for significant farmer domination, it remains to be seen how equitable the distribution will be.
Also Read: How to Claim the Starknet Airdrop: A Complete Guide to the STRK Token
