StarkNet Deploys STRK Token On Ethereum

November 17, 2022 - Around 1 mins mins to read

After a long wait, StarkNet has finally made the latest moves regarding the STRK token, starting with the creation of an ERC-20 contract.

StarkWare, the company behind the development support for StarkNet, has announced the STRK token.

StarkNet’s next step towards decentralization:

StarkNet’s ERC20 token contract is deployed on Ethereum. ????

Until further notice by @StarkNetFndn, StarkNet’s tokens are not offered for sale.

Beware of scams! https://t.co/T2F9sxJnEL
— StarkWare (@StarkWareLtd) November 16, 2022

Also announced, the STRK token will be used for staking to help ensure decentralization for network governance and for transaction fee payment. However, the project says how to implement the paid feature will not be mentioned.

It will take time for the Foundation to determine the mechanism for distributing its tokens. The tokens will remain non-tradable until further notice by the StarkNet Foundation.

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