UNCHAINED: Is the Short Team Lockup for STRK ‘Misaligned’? No, Says Starkware CEO
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 16 February 2024
⏱️ 43 minutes
🧾️ Download transcript
Summary
Starknet community members were not happy about many of the details of who was eligible to receive tokens.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Starknet made news this week for announcing what will be the largest initial airdrop by number of eligible addresses ever. But it faced heavy criticism online for many of the details of the airdrop, from the fact that Ethereum solo takers received almost 22% of the distribution to eligibility requirements that users held at least 0.005 ETH in their wallets as of Nov. 15, 2023 to the fact that the token generation event took place almost two years before the unlock date.
Starkware CEO Eli Ben-Sasson joined Unchained to respond to the multiple critiques of the airdrop and discuss why he and the Starknet Foundation decided on the details that they did.
Show highlights:
- What the airdrop criteria was and why they decided to make it that way
- Why they allocated so much $STRK to Ethereum solo stakers
- Eli’s response to the criticism about how little Starknet network participants got in the airdrop
- Why the STRK Token Generation Event (TGE) was done in 2022, only to be airdropped two years later
- Why Eli believes that even if the unlock of tokens is in two months, it does not indicate misalignment of incentives
- Whether Eli will sell his tokens when they become unvested
Thank you to our sponsors! Popcorn Network | iTrustCapital | Polkadot
Guest |
Eli Ben-Sasson, CEO of Starkware
Links |
Recent coverage of Unchained on airdrops: Jupiter Founder Meow to Critics of JUP Airdrop: ‘Give Me a Break’
Unchained:
Starknet’s Airdrop Plan Sparks Some Praise but Also Outrage
Starknet’s First Token Distribution Will Be Available to Nearly 1.3 Million Addresses
The Defiant: Starknet Faces Backlash Over Airdrop and Team Unlocks
Loomdart’s tweet on the TGE
Learn more:
Do You Have to Pay Taxes on a Crypto Airdrop?
What Is a Crypto Airdrop? A Beginner's Guide
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Transcript
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| 0:49.5 | We knew that whenever you announce criteria, those who feel that they received something that they |
| 0:57.1 | deserve or maybe more than they expected, they're happy. |
| 1:00.6 | But generally speaking, they're relatively quiet about it. |
| 1:03.5 | And that's fine. |
| 1:04.7 | And those who feel wronged are going to be very, very vocal about it. |
| 1:09.0 | And that also is fine. |
| 1:10.1 | So we knew from the start that by |
| 1:12.0 | announcing the criteria, we will mostly be seeing the people who feel wronged. And we are |
| 1:19.2 | listening to that. We respect users of the community. |
| 1:26.5 | Hi, everyone. Welcome to Unchained. You're a no hype resource for all things Crypto. I'm your host, |
| 1:31.5 | Laura Shin, author of The Cryptopians. I started covering crypto eight years ago, and as a senior editor |
| 1:37.3 | of Forbes, was the first Matrieree meter porter to cover cryptocurrency full-time. This is the February 16th, |
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