Today, Vitalik Buterin seized and collected 845,205 $STRK tokens from StarkNet’s Locked Token Grant contract on the Ethereum Layer 2 network. These tokens are valued at around $1.07 million, as per Lookonchain. These STRK and ETH tokens were part of Vitalik’s initial investment and backing for StarkNet, marking a significant return on his contribution.Â
Notably, this wallet aligns with the one he held before he acquired Ponzi tokens. This release of tokens signifies a prosperous outcome from Vitalik’s early support for StarkNET. His decision to endorse the project early is paying off, especially as the value of STRK tokens continues to rise.
The $1.07 million unlock could just be the beginning of a series of financial gains from his StarkNET investment.
Vitalik’s action underscores the crucial role of Layer 2 networks in enhancing Ethereum’s scalability and overall functionality. As Ethereum expands rapidly, solutions like StarkNET become increasingly vital for managing network capacity and enhancing the user experience.
Also Read: Vitalik Analyzes Layer 2s vs. Ethereum Sharding Approaches
