Starknet's STRK Could Debut With Market Cap of Over $1B, Aevo's Pre-Launch Futures Suggest

Layer 2 scaling solution Starknet is set to airdrop over 700 million $STRK tokens on Feb. 20.

Decentralized exchange Aevo's pre-launch futures suggest an inception price of $1.65, implying a market cap of $1.2 billion.

Layer 2 scaling solution Starknet, focused on improving the performance of decentralized applications on Ethereum, is set to debut its native token $STRK on Feb. 20 through an airdrop or free distribution of 728 million tokens to around 1.3 million wallets.

Price discovery in the pre-debut futures listed on decentralized Aevo indicates that the highly-anticipated token could debut with a market capitalization of over $1 billion.

As of writing, $STRK/USD pre-launch perpetual futures changed hands at $1.65 on Aevo, implying a market cap of $1.2 billion. The figure is calculated by multiplying the number of circulating coins ($728 million) with the going market price of the contract ($1.65).

The impending airdrop of 728 million tokens represents nearly 7% of the total supply. So, the pre-listing price of $1.65 implies a fully diluted market cap (FDV) of over $16 billion. FDV is a projection of the market cap once all the tokens in a project are in circulation.

"The market is clearly extremely excited about Starknet, as it is the most well-known ZK chain," Aevo’s co-founder and CEO Julian Koh told CoinDesk.

Aevo listed the $STRK/USD pre-launch contract early Wednesday. The decentralized exchange unveiled the pre-listing perpetual futures market in August last year, allowing traders to speculate on the token’s ideal inception price.

These pre-listing perpetual futures are similar to “I owe you” or IOU futures offered by some exchanges. Once the token goes live, the pre-listing perpetuals will reference the $STRK price and collect funding rates from traders to keep perpetual prices in sync with the token’s spot price.