StarkNet to Launch Its Native Token in September

StarkWare announced that StarkNet, an Ethereum Layer2 scaling solution, will launch its native token and launch StarkNet Foundation. StarkNet token will go on Ethereum as an ERC-20 token in September 2022, and will be used for governance, payment of transaction fees on StarkNet, and participation in StarkNet's consensus mechanism. The initial supply is 10 billion, 17% of which will be distributed to StarkWare investors, 32.9% to StarkWare core contributors, and 50.1% will be granted to the StarkNet Foundation.