Solution for Layer 2 scaling With an airdrop, or free distribution of 728 million tokens to about 1.3 million wallets, Starknet, a company dedicated to enhancing the efficiency of decentralised applications on Ethereum, is scheduled to launch its native currency, STRK, on February 20.
The highly awaited coin may launch with a market capitalization of more than $1 billion, according to price discovery in the pre-debut futures posted on decentralised Aevo.
The pre-launch perpetual futures for STRK/USD on Aevo changed hands at $1.65 as of this writing, suggesting a market capitalization of $1.2 billion.
The value is derived by multiplying the going market price of the contract ($1.65) by the total number of coins in circulation ($728 million).
Seventy-eight million tokens, or around 7% of the entire supply, will be airdropped soon. At $1.65 for pre-listing, it is implied that the company has a fully diluted market cap (FDV) of more than $16 billion. When all of a project’s tokens are in circulation, the market cap is projected using the formula known as FDV.
“Because Starknet is the most well-known ZK chain, the market is obviously very excited about it,” stated Julian Koh, CEO and co-founder of Aevo.
Early on Wednesday, Aevo listed the pre-launch deal for STRK/USD. In August of last year, the decentralised exchange launched the pre-listing perpetual futures market, which let traders make predictions about the optimal token inception price.
The “I owe you” or “IOU” futures that certain exchanges provide are comparable to these pre-listing perpetual futures. In order to maintain perpetual prices in line with the token’s spot price, the pre-listing perpetuals will use the STRK price as a point of reference and will collect funding rates from traders once the token becomes online.